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
    2·
    5 months ago

    I get you’re desperately trying to sound smart, but in this context, “energy” meant electricity. Because that’s what it takes to produce cryptocurrency. Not the general definition in the realm of physics study. And electricity can most certainly be created and destroyed.

    When you buy gold, you have the gold. It’s backed by the thing you have.

    When you buy cryptocurrency, you don’t have the electricity that was spent in fabricating those numbers. You don’t get sent a battery in the post. You have nothing.