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Linux Inventor Says He Doesn’t Believe in Crypto (u.today)

submitted 6 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

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Linus Torvalds, creator of Linux, does not believe in cryptocurrencies, calling them a vehicle for scams and a Ponzi scheme.
Torvalds was once rumored to be Bitcoin creator Satoshi Nakamoto, but he clarified it was a joke and denied owning a Bitcoin fortune.
Torvalds also dismissed the idea of technological singularity as a bedtime story for children, saying continuous exponential growth does not make sense.

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[–] TheGrandNagus@lemmy.world 1 points 6 months ago (1 children)

Their local currency. You know, that thing we were talking about? If you've forgotten you could've just scrolled up for a quick refresher.

[–] shortwavesurfer@monero.town 1 points 6 months ago (1 children)

Yes, but how do they interact with their local currency? Do they hold it in their hands? No, they don't. It's all numbers on a screen.

[–] TheGrandNagus@lemmy.world 1 points 6 months ago

You're not understanding. Real money isn't only numbers on a screen. It can be physical or not, it doesn't really matter. What matters is that it's universally backed and usable.

Crypto isn't. It's just numbers on a screen without the backing of government, business, or most people.