Technology

59575 readers

3463 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1598

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

submitted 6 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

672 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] Tachikoma741@lemmy.today 2 points 6 months ago (1 children)

For clarification. To my understanding, the older cryptographic currencies use an immense amount of power (Proof of Work). But newer models have solved that issue by switching to a Proof of Stake model instead.

[–] b3an@lemmy.world 4 points 6 months ago* (last edited 6 months ago)

You are correct, but that doesn't mean they all use the same model. Apparently in the USA, it's as much electricity as the entire state of Utah. Also apparently Texas is a big home for it:

Locations of 52 U.S. cryptocurrency mining operations, as of January 2024