Linux Inventor Says He Doesn’t Believe in Crypto

AnActOfCreation@programming.dev to Technology@lemmy.world – 1577 points – Linux Inventor Says He Doesn’t Believe in Crypto
u.today
  • 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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Coinsbee.com allows you to purchase debit cards, which you can then use to purchase kilowatt hours.

Translation: actual currencies can be used to purchase energy, but cryptocurrency cannot.

What you're saying is precisely like saying "I know a guy that trades turnips for money. Therefore turnips are a great currency that you can buy anything with."

Sure, you can't buy energy with crypto directly yet. But that would make total sense for a power company to accept crypto in the future.

If it made sense they'd be doing it, no?

Not yet, the government has their regulatory screws too deep into them, so they can't innovate like that.

Where are these laws that state energy companies cannot accept crypto as payment?

I don't know of any laws specifically against them accepting it, but I think it's probably demand-based because only about one-fourth to one-fifth of US citizens use crypto currently. I think that number will grow over the years.

So no laws them. And 25% of the US using crypto. That's surprising. Got any proof of that? That seems remarkably high. You could even say unbelievably high.