Technology

59589 readers

2838 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1598

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

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

674 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[+] kandoh@reddthat.com -9 points 6 months ago (3 children)

It'll be a bad day when crypto really crashes. A lot of guys in my generation have most of their savings in crypto. When they lose that money they are going to create a very big political problem for the rest of us.

[–] dwindling7373@feddit.it 12 points 6 months ago (2 children)

A lot of guys in my generation have most of their savings in crypto.

No they do not.

[–] amanneedsamaid@sopuli.xyz 1 points 6 months ago

When they lose that money they are going to create a very big political problem for the rest of us.

And this will not happen 💀

[–] shield_gengar@sh.itjust.works 1 points 6 months ago

I only know one 40 year old who started dumping everything into crypto (DCA, hasn't contributed to 401k or IRA in 15 years), but he even took lower pay to work on devops in crypto.

It's not everyone, but they exist.

[–] TheFriar@lemm.ee 2 points 6 months ago

It’s gambling. Why anyone would be foolish enough to invest their life savings into it is no less stupid than the trump stans dumping their savings into trump bux or that trump credit card hat was apparently going fill up with cash when trump was reinstated.

It’s all a scam that has some likelihood of coming true if all of the right occurrences line up, no matter how unlikely. Except with crypto it’s like picking a random slot machine and somehow investing everything you have on one spin. Whereas the trump stuff is like betting on roulette, but one guy is spinning the wheel and he may just put the ball down on one of the random things and make a few people rich. Or maybe it’s more like throwing all your money into the casino toilet and flushing it because you’re too drunk to realize it’s not a slot machine.

[–] Honytawk@lemmy.zip 1 points 6 months ago

Nah, they are going to create a very big political problem for themselves.

Just like how gamblers only create problems for themselves.

Regular people didn't dabble in crypto