this post was submitted on 20 May 2024
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1664
Linux Inventor Says He Doesn’t Believe in Crypto (u.today)
submitted 7 months ago by [email protected] to c/[email protected]
679 comments fedilink hide all child comments
 
  • 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.
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[–] [email protected] 2 points 7 months ago (1 children)

This is pointless. You don't even seem to know what profit and value are exactly, much less how the letter is increased.

But ok, gamble away your money for worthless crap if you believe it's the same as owning non-distributing value stock (lol). I'm not an altruistic economics teacher trying to stop you hurting yourself.

[–] [email protected] 1 points 7 months ago* (last edited 7 months ago) (1 children)

But ok, gamble away your money for worthless crap if you believe it's the same as owning non-distributing value stock (lol).

I can point to any number of companies whose stock has proven to be worthless crap. It is the same type of gamble for both. Neither have any value arising from business operation. The value of a cryptocoin and the value of a zero-dividend share arise solely and entirely from investor faith.

[–] [email protected] 2 points 7 months ago

But what about all the real valuable assets these companies would have these days? Like the multitude of 5 year old PCs, 1990s era Hermann-Miller office furniture, the buildings and land they lease... /s