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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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[–] ulterno@lemmy.kde.social 0 points 6 months ago (1 children)

Oh there's other's? Guess I haven't read enough.

But how to they manage to be decentralised?

[–] Ispanicus@sh.itjust.works 0 points 6 months ago (1 children)

Proof of stake is one method I've seen, but I'm sure there are others.

[–] ulterno@lemmy.kde.social -1 points 6 months ago (1 children)

Interesting, but, giving it a quick scan, some of them look like based on personal trust and others feel kinda chicken/egg-ish.
And I may need to read it properly first, but "holdings" feels like you probably need to buy some of it first, presumably using some other currency.

[–] Ispanicus@sh.itjust.works 1 points 6 months ago

Yes, that's the usual criticism. To be able to stake, you need to have currency, promoting a rich get richer kind of scheme.