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.
  • Ozymati@lemmy.nzEnglish
    0·
    6 months ago

    I think both have their uses. A true state backed cryptocurrency used interchangeably with physical cash could be quite useful. Crypto as it is now not so much.

    AI has a bunch of useful applications in medicine, manufacture, research, monitoring… But where we see it is language models, art remixes, and deep fakes.

    • Captain Janeway@lemmy.worldEnglish
      0·
      6 months ago

      Nah it’s literally a waste of physical resources. Crypto currency is a waste of fossil fuels. AI has its functions at least.

      • jabjoe@feddit.ukEnglish
        0·
        6 months ago

        Proof of stake uses a load less than proof of work.

        Be really good if currencies could go in and out of crypto. Could cut out a lot of middle men.

    • emergencyfood@sh.itjust.worksEnglish
      0·
      6 months ago

      A true state backed cryptocurrency used interchangeably with physical cash could be quite useful.

      What advantage does this give over a simple digital currency?