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.
  • explodicleEnglish
    12·
    6 months ago

    Why XMR and not BTC? Do the privacy defaults change how it’s seen?

    • asudox@lemmy.worldEnglish
      3·
      6 months ago

      BTC is not private. XMR is actively being used mainly on the darknet because of its superior privacy guarantees. BTC is mostly sold and bought just like investments.

    • amanneedsamaid@sopuli.xyzEnglish
      21·
      6 months ago

      BTC is solely a mode of investment, it offers no real benefits over fiat except decentralization. At least XMR is as or even more anonymous than cash, whereas Bitcoin has zero utility.

      • explodicleEnglish
        2·
        6 months ago

        If there was a way to use Bitcoin more privately than USD cash, would that give it utility?

        • amanneedsamaid@sopuli.xyzEnglish
          2·
          6 months ago

          Yes. I suppose it would also have a sort of utility if it was mass adopted and therefore practically spendable for the average person, but I would argue that there is no inherent utility to Bitcoin.