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.
  • jabjoe@feddit.ukEnglish
    0·
    4 个月前

    Proof of stake uses a load less than proof of work.

    Be really good if currencies could go in and out of crypto. Could cut out a lot of middle men.

    • orrk@lemmy.worldEnglish
      0·
      4 个月前

      again, what use does it serve over traditional banking?

      even PoS requires a lot of resources in comparison, for a system that literally exists to funnel money to a smaller group of people

      • iopq@lemmy.worldEnglish
        01·
        4 个月前

        I literally can’t transfer money to Kazakhstan without paying $50 for a wire.

      • jabjoe@feddit.ukEnglish
        01·
        4 个月前

        Advantages of cash and digital, without the swings of raw crypto. Also leaving the ability to usefully manipulate your country’s currency.

        Crypto means easy, open payment systems. No gatekeepers like WorldPay.

        • orrk@lemmy.worldEnglish
          1·
          4 个月前

          like any true Liber-crypto-bro-tarian, your understanding of crypto is only undercut by your understanding of economics

          • jabjoe@feddit.ukEnglish
            1·
            4 个月前

            Manipulating currency is a useful tool. If you don’t think so, that makes you more liberian than me.

            Like many here, I’m big into open source, and card payment systems are an issue. Crypto is one solution to that. Crypto has advantages, but it falls down as a currency because of blind faith in the invisble hand.