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.
  • @Tachikoma741@lemmy.todayEnglish
    2•6 months ago

    Also consider that many peoples (me) would like to move from the older cryptocurrencies that needs lots of power to run (proof of work) and try to advocate for newer proof of stake models.

    To my understanding proof of stake models have dramatically lower power requirements.

    • @shortwavesurfer@monero.townEnglish
      1•6 months ago

      Yes, but they are also quite a bit easier to take over and destroy because governments can just print their fiat and buy up a large amount of that currency and then kill the network.