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.
  • vaultdweller013@sh.itjust.worksEnglish
    03·
    4 months ago

    I didnt say that, money is real because its backed by a source be it government or otherwise. Having a currency has a rather obvious use case, having a liquid form of exchange to represent wealth is useful and eases things. Hell it doesnt even have to be paper or metal, it could be bullets, bottlecaps, seashells, or be rocks.

    • Rivalarrival@lemmy.todayEnglish
      1·
      4 months ago

      Money is real in exactly the same way that zero-dividend shares are real, or that cryptocurrency is real.

      The difference is that the government can freely adjust the value of money, and anyone can create shares. Cryptocurrency can only be generated per the conditions of an algorithm.

      • vaultdweller013@sh.itjust.worksEnglish
        1·
        4 months ago

        Yes but also no, what im trying to say is that currency is in and of itself real. Real currencies are backed by something be it metals, food, water, military, or the entire fucking economy of a region or nation. Cryptocurrency is only backed by hopes dreams and energy wasting mathematical formulas, also I can use a 20 dollar bill practically anywhere in exchange for goods I cant use a crypto wallet or some shit in many places.