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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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[–] RecluseRamble@lemmy.dbzer0.com 11 points 6 months ago (1 children)

Even online crime often settles with gift cards though because it's too much of a hassle to explain to the Average Joe how to setup an account and buy and transfer crypto-tokens.

[–] redcalcium@lemmy.institute 2 points 6 months ago

Scams are not much affected by cryptocurrency existence, but ransomware existence specifically relies on crypto for scaling reason. They infect millions of computers, the ransoms are being handled automatically because it's way too much to be handled manually with gift cards.