- 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.
If after 16 years you still have to be asked if you believe in crypto, then chances are that it is a scam.
Good point, I always wondered if there is a way the technology will evolve and somehow find a niche that’s unexpected. But you’re right, 16 years is a long time to be meandering.
It’s such a first-world thing to not understand all the good that crypto has done. There are countless lives that have been financially saved by having a safe place to hold wealth while their countries’ fiat collapsed. It’s just a short matter of time until many first world folks understand this as well.
There was promise for people in Argentina livig under extreme inflation but I never heard it go anywhere.
Look closer, it’s saving lives down there.
I’m from Argentina, if you can pass me some articles I’d love to read them. It’s something I’ve been interested in
Traditionally clever Argentinians have used USD to escape the collapsing currency, but over the last couple of years, there has been a massive shift to doing this with Bitcoin and some stablecoins. Personally, I would just go for Bitcoin, but I do understand that there is less variance with stablecoins, so they may be a bit more practical for some people. Here is an article that goes into this.
On the other hand, scams rarely last 16 years.
No clue how long scams usually last, but famous ones easily last multiple decades, though funny how unclear if is when the scam started:
https://en.wikipedia.org/wiki/Madoff_investment_scandal?wprov=sfla1
Federal investigators believe the fraud in the investment management division and advisory division may have begun in the 1970s. However, Madoff himself stated his fraudulent activities began in the 1990s. Madoff’s fraudulent activities are believed to have accelerated after the 2001 change from fractional share trades to decimals on the NYSE, which cut significantly into his legitimate profits as a market-maker.
Alerted by his sons, federal authorities arrested Madoff on December 11, 2008.
Madoff was hidden. Bitcoin is out in the open.
I think “bubble” could be a better description. Bitcoins bubble pops regularly every 4 years.
Yeah I don’t believe in smartphones, I just have one. I don’t believe in crypto, I acknowledge it’s pointless.
