Technology

59237 readers

3609 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1596

Linux Inventor Says He Doesn’t Believe in Crypto (u.today)

submitted 5 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

646 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.

you are viewing a single comment's thread
view the rest of the comments

[–] Knock_Knock_Lemmy_In@lemmy.world -1 points 5 months ago (2 children)

crypto is too ecologically expensive and wasteful

Only some (proof of work) crypto is ecologically expensive and wasteful.

[–] ulterno@lemmy.kde.social 0 points 5 months ago (1 children)

Oh there's other's? Guess I haven't read enough.

But how to they manage to be decentralised?

[–] Ispanicus@sh.itjust.works 0 points 5 months ago (1 children)

Proof of stake is one method I've seen, but I'm sure there are others.

[–] ulterno@lemmy.kde.social -1 points 5 months ago (1 children)

Interesting, but, giving it a quick scan, some of them look like based on personal trust and others feel kinda chicken/egg-ish.
And I may need to read it properly first, but "holdings" feels like you probably need to buy some of it first, presumably using some other currency.

[–] Ispanicus@sh.itjust.works 1 points 5 months ago

Yes, that's the usual criticism. To be able to stake, you need to have currency, promoting a rich get richer kind of scheme.

[–] uienia@lemmy.world -2 points 5 months ago (2 children)

As long as they use energy they are wasteful, considering they don't provide anything constructive for that wasted energy which could have been used for better things.

[–] matjoeman@lemmy.world 5 points 5 months ago

By this argument any website is wasteful. There's always a "better thing".

[–] iopq@lemmy.world 2 points 5 months ago

Banks also use energy, so banks are wasteful too