Linux Inventor Says He Doesn’t Believe in Crypto

[Questat]

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.

We cannot blame him for that because that's what also his own observation towards crypto, and everyone is free to express his like or dislike about crypto. But one thing is certain, he jumped into a conclusion without studying well the concept of bitcoin and how it becomes an advantage to some open-minded people. If only he is born in this millennial era, I bet he will change his current perspective on bitcoin. But what else can we do but to leave him for that, and let the success of bitcoin and all its believers serve as the proofs that bitcoin is never part of ponzi scheme, and it never was.  

[Maslate]

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.

Probably, that's what he meant to say when he talks about crypto. It's undeniable that crypto altcoins and shitcoins are certainly some of the sources of different scams in the digital world. And he sees that more than us. However, nevertheless, his own criticism towards the crypto ecosystem will never create changes or leave a huge impact. Scams are scams, and part of it are those cryptos without genuine potentials to  succeed in the digital world, but its only focus is to deceive people and fall on its traps and eventually steal their funds.

[Zlantann]

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.

Irrelevant people are always seeking doe means to gain attention. They know that the crypto community is highly populated, so they will want to talk and say something about it just to gain cheap publicity for themselves.

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

Many people will definitely disagree. We have seen people boycott some country's products because of political, religious, and ideological reasons. You should also know that getting rid of a functional product has financial consequences. I wouldn't dispose of my Linux operating system because of an ignorant computer scientist.

[Cvetik56]

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

Lol, your OS doesn't define you or your opinion on crypto. Who cares about what he says?

[Marykeller]

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

You don't have to think of such, you know why? In this world we live in, you don't expect everyone to believe in what you believe in, even when it is proven to be as real or legitimate as it seems. There will be people who will be against or question its existence to be unreal to them. In other words, allow people to think whatever they like about bitcoin, don't dislike them for that. Everyone is free to believe or not to believe in whatever they feel like, it's a free world we live, everyone must not believe in bitcoin, we all have our own beliefs, and those people who don't believe in bitcoin have theirs that we don't believe in, if we are to tell about it.

Take, for instance, the Christian and Moslem fate. Don't they buy and produce the same thing that both eat and share? Are they in any way not utilizing what both produce despite not believing in the same prophet "Mohammed or Jesus''? However, bitcoin enthusiasts will keep using Linux products

[d5000]

Linus Torvalds wrote that in a forum post where the main topic were not even cryptocurrencies. The thread was about the "technological singularity", a concept popularized by Ray Kurzweil about a moment in history when AI would be as powerful as human intelligence. And he only mentioned cryptocurrencies as an example of things he doesn't believe in, alongside Santa Claus. And no, he hasn't mentioned Bitcoin explicitly in the thread.

While there was one single answer to the cryptocurrency topic by a "Christopher V." here, the topic didn't progress further. Instead, the discussion centered on AI (ChatGPT etc.). In part it's an interesting read.

[SamReomo]

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

Nope, that's a wrong recommendation and I won't do that. I like Linux and that's why I use it on many of my devices and that's my own choice, I haven't chosen it because of who created it but I chose it because I liked it.

What if Satoshi appears and says Bitcoin isn't good anymore should we switch Bitcoin with another shit coin? No way, that's not going to happen, even if mighty Satoshi reappears and says something like that then still we will continue with Bitcoin then moving to a shit coin.

[Finestream]

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

You don't have to think of such, you know why? In this world we live in, you don't expect everyone to believe in what you believe in, even when it is proven to be as real or legitimate as it seems. There will be people who will be against or question its existence to be unreal to them. In other words, allow people to think whatever they like about bitcoin, don't dislike them for that. Everyone is free to believe or not to believe in whatever they feel like, it's a free world we live, everyone must not believe in bitcoin, we all have our own beliefs, and those people who don't believe in bitcoin have theirs that we don't believe in, if we are to tell about it.

Take, for instance, the Christian and Moslem fate. Don't they buy and produce the same thing that both eat and share? Are they in any way not utilizing what both produce despite not believing in the same prophet "Mohammed or Jesus''? However, bitcoin enthusiasts will keep using Linux products

Whether this inventor approves or dislike Bitcoin, I guess we can't do nothing about it. Let him believe on what he wants and we will continue to trust and use bitcoin because it has already proven its real benefit to us, even if others bitcoin is nothing but a ponzi scheme. We all have different views and concepts when it comes to bitcoin, some would doubt and hesitate to buy and invest on it, while others prioritize bitcoin over other investments because of its high potentials, but still whatever the decision of other people, we should not dislike them nor curse them just because of that.

[AmoreJaz]

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

Nope, that's a wrong recommendation and I won't do that. I like Linux and that's why I use it on many of my devices and that's my own choice, I haven't chosen it because of who created it but I chose it because I liked it.

What if Satoshi appears and says Bitcoin isn't good anymore should we switch Bitcoin with another shit coin? No way, that's not going to happen, even if mighty Satoshi reappears and says something like that then still we will continue with Bitcoin then moving to a shit coin.

And the good thing about this market is that, no one is being forced to believe on this market. It is on your own accord if you want to join this market or not. So even if we say, there are top personalities who are against with this market, it is not a big deal. As this market is continuously growing without their presence.
This has been tested when China banned the use of crypto. It is already one big country and one of the top economies in the world, and yet, this market continues to exist. So how much more of a single individual saying against on this market?

[Distinctin]

This is never surprising at all because there are still a lot of people, regardless of their profession or contributions to the world, still are not convinced that bitcoin is never a scam but a real, clear legit type of investment. But just like those who instantly changed their perspective about bitcoin, I'm sure in the near future they will also eventually like bitcoin. So let's not be carried away and would attempt to question bitcoin just because of them.

Bitcoin is a reliable and trusted investment and currency only by those who believe in it. It's way more convenient and secured than fiat, but until if you stick to fiat and hate bitcoin, you will never see that realization and would always approve fiat or any other investment tool compared to bitcoin.

[Ambatman]

But one thing is certain, he jumped into a conclusion without studying well the concept of bitcoin and how it becomes an advantage to some open-minded people. If only he is born in this millennial era, I bet he will change his current perspective on bitcoin. But what else can we do but to leave him for that, and let the success of bitcoin and all its believers serve as the proofs that bitcoin is never part of ponzi scheme, and it never was.  

How are you certain he jumped into conclusion without understanding the concept of Bitcoin?
I'm certain he understands the concept more than many that believes in Bitcoin
Bitcoins alternatives are in line with his belief that I won't argue
Everybody with their own beliefs and conclusions after analysing a data
It's normal in life there are always different school of thoughts
I doubt he meant Bitcoin
But if he does
Then Bitcoin is the most beautiful and safest ponzi scheme in the world. 
There's a thin line between a mad Genius and a foolish man
Only time will tell which is which.

[mindrust]

That doesn’t make his work and linux any less valuable. It is just one man’s opinion and he might end up being right, eventually. Like 100 years later when it won’t matter anymore to any of us.

[electronicash]

"I am Satoshi" in his code is still not funny. many would assume he knew Satoshi though since most of the guys in the cryptography are also assumed to be using Unix system and are most likely programmers who release their product as opensource are from the Linux community.

Linus didn't invest in BTC as early as possible. this must be the reason. 

[Wind_FURY]

Linus Torvalds wrote that in a forum post where the main topic were not even cryptocurrencies. The thread was about the "technological singularity", a concept popularized by Ray Kurzweil about a moment in history when AI would be as powerful as human intelligence. And he only mentioned cryptocurrencies as an example of things he doesn't believe in, alongside Santa Claus. And no, he hasn't mentioned Bitcoin explicitly in the thread.

While there was one single answer to the cryptocurrency topic by a "Christopher V." here, the topic didn't progress further. Instead, the discussion centered on AI (ChatGPT etc.). In part it's an interesting read.

But he also mentioned that he believes that cryptocurrencies, probably "all of them", are merely "great vehicles" for scams, to spread the word to find the next great fool to sell our coins. I hope he's not trying to suggest that Satoshi had other motives.

Personally it merely gives an impression that he never read the white paper, nor did he do his own research. He probably read shitcoin white papers. Haha.

[avikz]

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

An individual can have individual views on anything and everything under the sun. That doesn't make it true!

Even Warren Buffet spoke negatively about Bitcoin in many public gatherings. His company Berkshire Hathaway has investments into hundreds of companies that takes care of our daily need. Does that mean we will stop using them? That's stupidity!

Stop listening to individual view and opinions. We all need to focus on our own goals. Move on!

[NotATether]

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.

The way Linux (the OS, not the kernel) is designed prevents exactly this type of thing from happening. No one person's opinion can change policy on the entire system. That means you don't have people like the higher-ups at Microsoft ordering everyone else to enshittify the OS so that they make more money (even if it is a universally unpopular change).

[davis196]

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

He's not completely wrong. Crypto is really "a great vehicle for scams". There's no doubt about this. That's why all crypto users should be really cautious and aware about the potential risks. Never trusting centralized crypto companies and never sending coins to suspicious people are the most important rules of the game. Using a cold wallet and being your own bank is also a must.
He's no completely wrong about all shitcoins being a ponzi scheme. Maybe the right term is "pump and dump scheme" not ponzi scheme.
I totally understand why so many people dislike the crypto world.
Switching to Windows is not a solution. Windows is basically a spyware. Linux has many developers, who created multiple distros. I'm sure that most of them actually support crypto.

[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

He's not completely wrong. Crypto is really "a great vehicle for scams". There's no doubt about this. That's why all crypto users should be really cautious and aware about the potential risks. Never trusting centralized crypto companies and never sending coins to suspicious people are the most important rules of the game. Using a cold wallet and being your own bank is also a must.

He's no completely wrong about all shitcoins being a ponzi scheme. Maybe the right term is "pump and dump scheme" not ponzi scheme.

I totally understand why so many people dislike the crypto world.
Switching to Windows is not a solution. Windows is basically a spyware. Linux has many developers, who created multiple distros. I'm sure that most of them actually support crypto.

He's not completely wrong, but he's also NOT completely right in adopting such a rigid, and uninformed opinion towards cryptocurrencies - "including Bitcoin". Someone should probably give Linus Torvalds a copy of the white paper, and show him that it actually works in practice. If he still considers  that "Bitcoin is a scam", then sorry, like Satoshi said before - We don't have time to try to convince him.

[kryptqnick]

Hm, I can see that it's based on info from a couple of months ago, but my concern is whether we can trust this source and that the forum post was actually written by Linus. If it was, that's unfortunate because I feel like Linux and Bitcoin align pretty well. It is true that there are a lot of scams, and many crypto projects are scam projects, but that doesn't apply to Bitcoin. Bitcoin can be involved in scam, just like any other form of money in the world. But Bitcoin itself is certainly not a scam. The forum post mentions cryptos in passing, though, and it doesn't mention Bitcoin specifically.

[ultrloa]

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

Why people care to much if they don't believe on bitcoin? If he don't like that asset then let it be since it cannot change anything. Focus on people who show support and acquiring bitcoin since they are more exciting to talk about. Rather than giving such unnecessary attention to people who don't like to get a piece on new system introduce to people since we will just waste our time talking about things that those people don't like.

Those people might get hurt if he would say negative words about bitcoin. So people need to forget about him and focus on other positive news so that they can get more beneficial information that possibly could able to help on their investment decisions.