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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Yes, other memecoins used to also be pegged to the dollar, but they lost their peg, like TerraUSD and Tether.
Until it doesn't.
TerraUSD was an algorithmic stable, not backed by any real USD. No one with a brain expected that mechanic to work. That was a ponzi, but an interesting experiment.