this post was submitted on 20 May 2024
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  • 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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[–] [email protected] -1 points 7 months ago

I totally agree with you. Cryptocurrencies have their place, and I'm going to make a serious effort to normalize use of Monero because I think it's important to have a digital equivalent to cash for a whole host of reasons, from activists and whistleblowers being able to get support, to an average teenager trying to buy something online discretely without their parents knowing.

Privacy is important, and there should be an option for that.

That said, most cryptocurrencies don't have privacy as a goal, and are instead pure speculation of the higher order. There are a ton of scams in the cryptocurrency space, so you need to be very carefulb when venturing too far outside the norm. Most of the value in most coins is pure hype, not utility.

I don't buy cryptocurrencies as an investment, but I do buy Monero for actual spending.

we wouldn't have anonymous VPN services like Mullvad

I don't follow. Mullvad would exist regardless of cryptocurrencies existing, and you could still buy it anonymously with their cash option. Paying with cryptocurrencies is pretty cool, but it's hardly a requirement for it to exist.