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.
  • CiderpunkEnglish
    80·
    5 months ago

    Hard disagree here, I literally cannot access a cryptocurrency without power but I can absolutely pay cash to buy some water during a power outage.

    • shortwavesurferEnglish
      314·
      5 months ago

      Sure you can. There’s absolutely nothing stopping somebody from putting a private key on a piece of paper and loading money onto it and spending it physically as long as the private key has not been exposed. Kind of like those Amazon scratch-off gift cards. And just to prove my point, take a look at this.

      https://en.bitcoin.it/wiki/Casascius_physical_bitcoins

      • CiderpunkEnglish
        60·
        5 months ago

        Yes I’m sure the 7-11 cashier would love for me to try this.

        • shortwavesurferEnglish
          311·
          5 months ago

          Depends on who the 7-11 cashier is. If they are really smart, they would gladly take your crypto and pay for your items with their fiat. You are not going to get big places using it first. You are going to get little places using it first. The Amazon’s and 7-11’s and Walmart’s of the world will come later. And trust me, they will come. There’s a natural tipping point apparently, where when 5% of the world population uses something, the other 95% generally soon follow, because it’s more useful. Crypto has already hit that 5% mark.