AnActOfCreationMay 20, 2024

Linux Inventor Says He Doesn’t Believe in Crypto

https://programming.dev/post/14365559

Linux Inventor Says He Doesn’t Believe in Crypto - programming.dev

- 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.

Show threadxlash123May 21, 2024

I think there was a potential future where crypto could’ve actually been useful, but it was ruined by scammers, rug pullers, and of course, speculators.

I’ll still hold a little bit of Monero, since it holds the most potential for being a real currency in my opinion. But otherwise, I fully agree with the sentiment.

Show threadTachikoma741May 21, 2024

Eh. When the Wild West was around Medicine was used as a scam too. Snake Oil salesmen aren’t very nice people. But that doesn’t mean medicine is a bad idea ya know?

I agree that there are a lot of snake oil sellers in the cryptographic currencies realm. But that world is basically the digital wild west at the moment to me. I too am waiting to see what happens.

Show threadjeeva

To me, the difference there is that the jokes about snake oil and homeopathy, healing crystals, or essential oils are roughly the same - e.g. “what do you call X that works and has been peer reviewed? Medicine.”

So far, there has been no equivalent positive usage in the crypto sphere. Medicine, though often administered to different levels, is a good idea in itself.

May 22, 2024 at 2:19amWeb
Show threadTachikoma741May 22, 2024

Now a days we peer review medicine. As I mentioned, in the “wild west”. There’s no peer reviewing. The metaphor of the wild west was also pointing out the infancy of a technology. Another example could be how the “self driving cars” aren’t actually that self driving. However I suspect that over time even those cars will actually become peer reviewed, functional and what not.

The example that I saw that I liked the best was video games. Just because someone sells bad video games. Doesn’t mean all video games are a scam. Ya, know?