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 threadulternoMay 21, 2024

I actually considered a non-governmental, community regulated currency as a pretty good idea.

Problem is, crypto is too ecologically expensive and wasteful to fit the bill.

While there were some interesting ones, that actually used the processing power for something useful, most are not. So for now, I’ll just go with governmental currencies.

Show threadKnock_Knock_Lemmy_InMay 21, 2024

crypto is too ecologically expensive and wasteful

Only some (proof of work) crypto is ecologically expensive and wasteful.

Show threaduienia
As long as they use energy they are wasteful, considering they don’t provide anything constructive for that wasted energy which could have been used for better things.
May 22, 2024 at 12:37pmWeb
Show threadmatjoemanMay 22, 2024
By this argument any website is wasteful. There’s always a “better thing”.
Show threadiopqMay 22, 2024
Banks also use energy, so banks are wasteful too