this post was submitted on 20 May 2024
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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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[–] [email protected] 158 points 11 months ago* (last edited 11 months ago) (70 children)

Crypto is hated because it’s an MLM for terminally online people.

It gains value because people want it and people want it because it gains value is both a perfect description of cryptocurrency and scams.

[–] [email protected] 15 points 11 months ago (15 children)

It gains value because people want it and people want it because it gains value

This describes pretty much all moneys.

Cryptocurrencies have a lot of problems, but being a medium of exchange without intrinsic value is not one of them.

[–] [email protected] 5 points 11 months ago (4 children)

I appreciate and applaud anything that can even attempt to separate state and money. That will imho be the best thing for humanity since the separation of state and religion.

[–] [email protected] 3 points 11 months ago (2 children)

I look forward to the day VISA and MASTERCARD become obsolete! Please save my aunt's small business from predatory transaction fees. ♥

[–] [email protected] 7 points 11 months ago* (last edited 11 months ago)

I have no like of transaction fees but... you know they exist in the cryptocurrency world right? And that they're generally higher? Those transactions take work and aren't done out of charity.

[–] [email protected] 5 points 11 months ago (1 children)

I look forward to the day VISA and MASTERCARD become obsolete!

Compares transaction speed of credit card vs buttcoin

Lmao

[–] [email protected] 1 points 11 months ago

Buttcoin is pretty slow. To my understanding many other coins have already evolved past Bitcoin's slow ass speed.

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