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

submitted 5 months ago by [email protected] to c/[email protected]

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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] 10 points 5 months ago* (last edited 5 months ago) (46 children)

I only like two cryptocurrencies.

Nano: free transactions, each wallet runs it’s own blockchain, so it’s got no negative impact on the environment.

Monero: allows for anonymous transfers

[–] [email protected] 11 points 5 months ago (32 children)

I ask this sincerely, what have you personally needed an anonymous currency for?

[–] [email protected] 3 points 5 months ago* (last edited 5 months ago) (2 children)

I like it as a way to donate to creators without revealing my identity. It comes close to handing over cash.

You could also use it to pay for a VPN, but since the VPN provider sees your original IP address anyways, I don’t think that’s useful.

[–] [email protected] 2 points 5 months ago (1 children)

Another use I can think of is paying for a domain and registering it with fake info. Registrars require pretty sensitive information, and apparently can check if it is real by comparing it to the info tied to a card used to pay, which crypto eliminates.

Wish there were more XMR-accepting registrars though.

[–] [email protected] 2 points 5 months ago

One time phone numbers are another good thing, to avoid the ever increasing tracking we are all exposed to.

[–] [email protected] 1 points 5 months ago

Love it for donations. Monero specifically is also super fast: open wallet, scan QR, enter amount, hit send. Easily done in 30s or less.

It's also good for VPNs, because now the VPN provider needs to figure out who owns the IP, rather then looking up the clear name in the payment info. Doesn't make you anonymous, but reduces risk of data brokers buying your personal info.

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