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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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[–] slaacaa@lemmy.world 309 points 6 months ago* (last edited 6 months ago) (63 children)

Holy shit, the crypto bros are really triggered by this, out in full force in the comments. If the only argument you can bring for crypto is that you make/made money on it, that sounds a lot like a Ponzi scheme

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

I agree. Every crypto except XMR seems to be only seen as an investment to make more money.

[–] explodicle@sh.itjust.works -1 points 6 months ago (4 children)

Why XMR and not BTC? Do the privacy defaults change how it's seen?

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

BTC is solely a mode of investment, it offers no real benefits over fiat except decentralization. At least XMR is as or even more anonymous than cash, whereas Bitcoin has zero utility.

[–] explodicle@sh.itjust.works 2 points 6 months ago (1 children)

If there was a way to use Bitcoin more privately than USD cash, would that give it utility?

[–] amanneedsamaid@sopuli.xyz 2 points 6 months ago

Yes. I suppose it would also have a sort of utility if it was mass adopted and therefore practically spendable for the average person, but I would argue that there is no inherent utility to Bitcoin.

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