this post was submitted on 20 May 2024
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1640
Linux Inventor Says He Doesn’t Believe in Crypto (u.today)
submitted 10 months ago by [email protected] to c/[email protected]
641 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.
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[–] [email protected] 82 points 10 months ago (3 children)

Its just a big money laundering scheme

[–] [email protected] 20 points 10 months ago

And/or a fucking casino

[–] [email protected] 6 points 10 months ago* (last edited 10 months ago) (1 children)

So you are saying more than the population of the United States as money launderers because somewhere between 400 and 550 million people use cryptocurrency. I kind of doubt they are all money launderers.

[–] [email protected] 2 points 10 months ago (1 children)

Why not? Couldn't crypto be enabling money laundering on a massive scale?

[–] [email protected] 5 points 10 months ago

This one is a bit old, but... https://medium.com/@MUBC/privacy-coins-debunking-myths-about-illegal-usage-9150c49a31a7

I can't find it at the moment, but I saw a report for 2023 or 2024 that something like 0.4% of all crypto transactions are illicit activity. So that would mean roughly 1.9 million people use it for such activity, which is a far cry from 400 million.

[–] [email protected] 2 points 10 months ago

A bad one, at that. I think the reason many governments are going with it is because it's far less untraceable than some idiots like to believe.