Linus Torvalds has said that cryptocurrencies are simply "a great vehicle for scams"
  • 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.
  • TheGrandNagus@lemmy.worldEnglish
    1·
    6 months ago

    Their local currency. You know, that thing we were talking about? If you’ve forgotten you could’ve just scrolled up for a quick refresher.

    • shortwavesurferEnglish
      1·
      6 months ago

      Yes, but how do they interact with their local currency? Do they hold it in their hands? No, they don’t. It’s all numbers on a screen.

      • TheGrandNagus@lemmy.worldEnglish
        1·
        6 months ago

        You’re not understanding. Real money isn’t only numbers on a screen. It can be physical or not, it doesn’t really matter. What matters is that it’s universally backed and usable.

        Crypto isn’t. It’s just numbers on a screen without the backing of government, business, or most people.