this post was submitted on 20 May 2024

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1641

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

submitted 11 months ago by [email protected] to c/[email protected]

648 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] 30 points 11 months ago (1 children)

Linus is already a multimillionaire, he doesn't need a pump and dump.

[–] [email protected] 29 points 11 months ago (1 children)

Well there are billionaires that do pump and dump. He just seem a decent human being 😃

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[–] [email protected] 26 points 11 months ago (107 children)

Right, his talk about how he's not very good at computers is pretty funny. I don't understand the crypto hate on Lemmy. Although I guess I don't understand a lot of why things are hated here. I guess crypto is too close to capitalism maybe? Freedom is frowned upon here.

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[–] [email protected] 25 points 11 months ago

It's as if this headline were written to stir discussion on lemmy.

[–] [email protected] 24 points 11 months ago* (last edited 11 months ago) (44 children)

I only like two cryptocurrencies.

Nano: free transactions, each wallet runs it’s own blockchain, so it’s got no negative impact on the environment.

Monero: allows for anonymous transfers

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[–] [email protected] 24 points 11 months ago (16 children)

Why does the headline say "Crypto" but then snippet says "cryptocurrencies"? Do people not realize these are not the same thing? The inventor of Linux does believe in crypto, that's why it's in Linux!

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[+] [email protected] 24 points 11 months ago (8 children)

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[–] [email protected] 31 points 11 months ago (6 children)

Let's not forget that crypto also enable wide deployment of ransomwares (which was not possible due to the lack of untraceable online payment at scale), while less and less ecommerce platform allow crypto payment. If this trend continues, eventually no one would use crypto except for speculation and paying off ransom.

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[–] [email protected] 25 points 11 months ago (6 children)

There isn’t a coin out there that can process 1/10 of the number of transactions that Visa does in an hour.

Anonymous vpns would still exist, as block chain existed prior to crypto.

Visa having the power they do is definitely a problem, however buttcoin is not a viable answer.

You’re right, it’s not a ponzi scheme, it’s the “bigger idiot” scam.

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[–] [email protected] 23 points 11 months ago (2 children)

I fucking guarantee that Linus Torvalds DOES believe in cryptography. Stop calling cryptocurrency "crypto", because "crypto" is short for cryptography, not cryptocurrency.

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[–] [email protected] 22 points 11 months ago

Thank goodness. Such a useless technology.

Scratch that... it's not useless, because it's great for scams and fraud. It's actively harmful.

[–] [email protected] 20 points 11 months ago (3 children)

I guess we should all get rid of our bitcoin that's worth hundreds of times more than when we bought it, because an operating system kernel developer doesn't like it.

Linus is awesome but he's not a god, his opinion of things outside the Linux kernel is just the opinion of a guy. Stop worshipping him, he doesn't even like it.

[–] [email protected] 21 points 11 months ago

Have fun playing hot potato with your savings I guess.

We don't dislike crypto because Linus doesn't like it. We like Linus more because he doesn't like crypto.

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