Linux Inventor Says He Doesn’t Believe in Crypto

[larry_vw_1955]

Yes that includes "bitcoin"


The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

https://u.today/linux-inventor-says-he-doesnt-believe-in-crypto

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

[TravelMug]

Yes that includes "bitcoin"


The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

https://u.today/linux-inventor-says-he-doesnt-believe-in-crypto

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

I guess to "each his own", we admire his creation and some of us could have been using his OS before it's not as vulnerable to malwares and viruses that can steal our crypto. But that's it, if he doesn't believed in crypto then we can't really do anything about it.

He could be right, or he could be wrong to see crypto as Ponzi schemes as this is really the argument that others have been putting since the beginning. However, he could be in the majority specially that Bitcoin has been carving it's name and he could be left in the closet in the next decade or so, just saying.

[Oshosondy]

Even there are scam at home not to talk of towns, countries and the world.

As you see many cryptocurrencies that are existing today, so are the scams that have existed in crypto . It is in crypto that ponzi scheme has been legit and because the government was unable to do something about it.

But there are well known good projects like bitcoin which is the father of crypto. In life there is scam everywhere. Even the town we live, there are scam. There are scam everywhere. Learning is important to avoid scam.

[Lucius]

If nothing else, at least this is another confirmation that this man is not Satoshi (as was once speculated).

So even though I do not dispute his or anyone else's right to an opinion at all, I am always surprised that someone who is "above average intelligent" has such negative attitudes about something that far surpasses everything he has done or will do in the future. He is obviously one of those who are under the influence of various people who have been repeating the same thing for years.

~snip~
I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

I personally don't use Linux (for now), but even if I did, I wouldn't go so far as to reject it just because its inventor wrote that Bitcoin is a scam. People say all kinds of nonsense and then change their minds after years, just look at what Saylor or Trump said about Bitcoin, and today both of them have a completely different opinion. Of course, the important difference between the two is that one is exclusively a business man, and the other is a politician who obviously says what he thinks people want to hear.

[aoluain]

He is 100% correct !

...about Crypto, but nowhere does he mention Bitcoin. I'm taking his responses to mean
$hitcoins and not Bitcoin.

As he describes "the next sucker holding the bag", it has been correct for the
$hitcoin scene and has been proven many times particularly during the ICO
years.

As for Linux, I have used it before and wouldnt discount it based on its
creators opinion which is factually right if we read it the way we want to.

[mocacinno]

why would we change OS'es? I don't see a link between the guy who fathered the kernel (and still maintains the project) don't liking an open source project i like and not using his project because he doesn't like mine.
Somebody can make a very good product (A) and still be completely wrong by badmouthing a completely unrelated product (B). If i'm a fan of (B), i don't have to drop (A) just because the guy who did (and still does) the groundwork for (A) doesn't like (B).

Btw, Torvalds is the person who created the linux kernel... Allmost every other component was written (and maintained) by other people.

[NotATether]

His opinion is not really relevant for cryptocurrency, and that goes for a lot of other people as well.

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

...to what exactly? Bill Gates actually hates crypto, unlike Torvalds so that rules out Windows (if you haven't already disqualified it based on the scandals Microsoft Windows keeps getting), so that really only leaves Apple, who just removed an embedded Bitcoin whitepaper from its operating system. I hope you like to use FreeBSD or something.

[Oshosondy]

He is 100% correct !

No. Just like I have said before, crypto is full of scam. But also an opportunity for some people to make money. There are legit projects also. Because he did not believe in crypto makes him not to be totally correct although it is his decision. You will see children increased the price of what they want to buy, although fathers understand and they will not even bother that their children are dong something like that. But is that not scam?  even if the fathers do not see it as scam. If there is no crypto, there are both offline and online scam everywhere. It is people that should use their brain to go the right direction and avoid scam.

[Wind_FURY]

Yes that includes "bitcoin"


The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

https://u.today/linux-inventor-says-he-doesnt-believe-in-crypto

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

Including Bitcoin?

 

That's absolutely because he's merely talking about Bitcoin as an asset class, as a natural-occurring Ponzi like GOLD. Calling and considering it simply as a "Ponzi" like it was a criminal Ponzi is very disappointing from someone who is as intelligent as him.

He didn't consider the breakthrough achieved in the technical side of things. Did he read the white paper?

¯\_(ツ)_/¯

[dzungmobile]

I guess to "each his own", we admire his creation and some of us could have been using his OS before it's not as vulnerable to malwares and viruses that can steal our crypto. But that's it, if he doesn't believed in crypto then we can't really do anything about it.

He built it up and people can use the OS but is the OS only for Bitcoin and cryptocurrency users, no.

Linux is like the OS for OPSEC people, not normal people who are more familiar with Windows or MacOs. We don't need him to be a Bitcoin or cryptocurrency supporter to have a good and secure OS to use.

He could be right, or he could be wrong to see crypto as Ponzi schemes as this is really the argument that others have been putting since the beginning. However, he could be in the majority specially that Bitcoin has been carving it's name and he could be left in the closet in the next decade or so, just saying.

He is partially right, if saying about cryptocurrency or altcoins because many Ponzi scam projects use altcoins as their tools. Even Bitcoin is not exception but the difference is Bitcoin is Bitcoin, was not built for Ponzi but any group of scammers want to abuse it for their Ponzi scams, how to prevent it?

No way rather than education to enlighten people about Ponzi scheme.

Ponzi exists many years before Bitcoin genesis block and Ponzi scammers can use other traditional systems like banks, stocks, ventures capital for their scam too.

[ABCbits]

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

That's weird statement, when he don't prevent or hinder people from running cryptocurrency application on OS which use Linux kernel.

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

...to what exactly? Bill Gates actually hates crypto, unlike Torvalds so that rules out Windows (if you haven't already disqualified it based on the scandals Microsoft Windows keeps getting), so that really only leaves Apple, who just removed an embedded Bitcoin whitepaper from its operating system. I hope you like to use FreeBSD or something.

And Solaris OS still alive today.

[HeRetiK]

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

Cancelling a whole OS ecosystem because one of its pioneers made a statement you disagree with seems a bit unproductive. You'd also lose Git.

And favoring quasi-monopolists such as Microsoft and Apple over free open source operating systems seems a bit counter-idealistic as well.

That's absolutely because he's merely talking about Bitcoin as an asset class, as a natural-occurring Ponzi like GOLD. Calling and considering it simply as a "Ponzi" like it was a criminal Ponzi is very disappointing from someone who is as intelligent as him.

He also told Nvidia to fuck themselves, so he seems to tend towards distilling deep technical knowledge into short, derisive comments. (no idea how deep his knowledge of cryptocurrencies is, but in the case of Nvidia he did have his reasons)

[Zlantann]

Yes that includes "bitcoin"


The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

https://u.today/linux-inventor-says-he-doesnt-believe-in-crypto

At least we know who is lying. We all know that Bitcoin is neither a scam nor a Ponzi scheme, so it is obvious that Linus Torvalds spreading fake news. Sometimes they come up with such news to seek attention.

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

If his Linux products are still effective, there is no need to switch to another operating system. Boycotting products because of the perception of a member of the team is not ideal. There are many well-known anti-bitcoin producers whose products are still relevant in our everyday lives.

[AVE5]

Yes that includes "bitcoin"


The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

https://u.today/linux-inventor-says-he-doesnt-believe-in-crypto

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

Been lot of backlash on bitcoin right from origin, so literally Linux procrastinating the invention of bitcoin shouldn't be a worry because bitcoin itself is an technology which even the biases of the governmens couldn't disrupt its potentials. So Linux saboteur on bitcoin can't make a difference to it.
There's seems no threats about his operative system because there're many more to support the digital operation of bitcoin technology.
Everyone has had right to say whatever they want to say about bitcoin because it's a decentralized technology just as it's everyone has decisive options to adopt bitcoin or leave it. So I presume that's what Linux inventor is just doing.

[tabas]

It's okay, everyone has to have their own opinion about something. He's not with us and not one with us. Tell that to the marines and common people who have been scammed with fiat and through their bank accounts and they're not stopping any day today. It doesn't mean that because of his opinion people who like Linux should have stopped using it. Nah. We're not having the cancel culture and we're not part of him. Just like those known people in the finance that have said a lot of negativities about Bitcoin, we might see him change his own opinion soon.

[Apocollapse]

At least we know who is lying. We all know that Bitcoin is neither a scam nor a Ponzi scheme, so it is obvious that Linus Torvalds spreading fake news. Sometimes they come up with such news to seek attention.

The post was posted on May 17 and at that time Bitcoin price was stable, so his choice doesn't affect anything. I believe most people don't care and he's not that popular too, that's why anything that come from his mouth is nothing.

If his Linux products are still effective, there is no need to switch to another operating system. Boycotting products because of the perception of a member of the team is not ideal. There are many well-known anti-bitcoin producers whose products are still relevant in our everyday lives.

Some people will disagree with you because those people who boycott specific country/company etc want to get rid everything as many as possible.

[ranochigo]

It shouldn't be a reason to dissuade people from using Linux. Linus is great at his field and he has said plenty of controversial stuff, for which some I agree and some I don't. He was talented in his own field to develop Linux with his team and I don't think his opinion would ever discount that. Besides, Linus maintains the Linux project, but isn't the main person handling it.

[Yucky]

Everyone is entitled to his or her opinion and you can't force anyone to believe what you believe it. Robert kiyosaki didn't believe in Bitcoin at a time but the narrative has changed at this point and he's now a huge fan.

Yes that includes "bitcoin"

The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

I still hold the view that alot of the people that are against Bitcoin or that view it as ponzi scheme are most likely mixing Bitcoin and crypto under the same umbrella and assume that whatever has happened to a particular crypto at a time will happen to another crypto also. Well, even if he knows detail about Bitcoin and still see it as a ponzi scheme, it doesn't in any way suggest that he's right or that it will have any negative effect in what Bitcoin is.

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

lol!
So if you're in a region why the president of the place is a core anti Bitcoinner it means you should change residency I guess? Some of us don't even use Linux but even if I do and is serving me optimally, this is never enough reason to stop using it at all.

[pooya87]

Would you believe it if I told you that I've been saying the exact same things too?
The only thing is that I say something else as well which I'll tell you at the end.

The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams."

There has been countless scams in the past 15 years that Bitcoin existed. From silliest Ponzi schemes (like bitcoin doublers and cloud-minings) all the way to the ICO scams and their newest form called Ordinals.

He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag.

Exactly.
Go to coinmarketcap.com and 90% of what is listed there is the literal definition of a Ponzi scheme. And among the remaining 10% you may find one or two altcoins like monero that have an actual utility or have some innovation. The rest are useless.

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

Now that's just silly. People don't use Bitcoin because they like Satoshi Nakamoto, a person they don't even know. They also don't use Linux because of its founder, another person I'm sure majority of Linux users don't even know.
People use these things because these "tools" are useful and they provide a utility.

The thing I have always warned about was usage of the term "crypto" or "cryptocurrency" to define everything. People tend to look at the whole picture and judge the whole scene. They look at 10000 cryptocurrencies and judge them all useless.

Bitcoin should be separated from the "horde" because it is separate. It is the only decentralized peer to peer payment system that actually works as it is supposed to. The rest as I said don't do what they are supposed to do (like LTC was never ASIC resistant, ETH was never decentralized computer, DASH was never a payment system, Ripple was never a better bitcoin and so on).

So there is no "crypto world" or "crypto market". There is only a "bitcoin world" and a "bitcoin market" with an adjacent swamp and a shitshow called the altcoin world.
And 99% of the times when people say "crypto" they mean altcoins.

[thecodebear]

Yes that includes "bitcoin"


The 54-year-old computer scientist slammed the newfangled asset class as a "great vehicle for scams." He also went on to mention that cryptocurrencies function as a typical Ponzi scheme that aims to find "the next sucker holding the bag."

https://u.today/linux-inventor-says-he-doesnt-believe-in-crypto

I know that many bitcoin enthusiasts are big Linux advocates. In order to stay consistent maybe they need to switch operating systems. That's what I would do

This is the kind of dumb thinking that is way too prevalent in society.

Why in the world would anyone switch away from Linux just because Linux Torvalds thinks Bitcoin is a scam??
Just like why would anyone decide to vote for corrupt idiot treasonous criminal Trump just because he's trying to con dumb bitcoiners into voting for him??

Ya'll should really have stronger values than "oh no someone doesn't like bitcoin let's stay away from anything they've ever done" or "oh wow someone is saying they like bitcoin to get votes let's pretend they are a hero and ignore everything else about them."

There is a very good reason why Linux is liked and used widely, and it has nothing to do with Linux Torvalds' opinions on anything.