- 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.
Crypto is just a waste of resources, similar to AI
Crypto - Meh, I have digital banking and payment processing already, with easy enough international transfers. I’m good.
AI - I see the possibilities, I think we should continue to develop it even if just for the medical applications of machine learning. Right now people just like playing with it, but, privacy issues aside, I don’t think it’s a waste.
Crypto is worse tho, it requires about the same amount of energy as the entire global banking network, but only serves less than a percentage of the transactions
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.
Nah it’s literally a waste of physical resources. Crypto currency is a waste of fossil fuels. AI has its functions at least.
What advantage does this give over a simple digital currency?
Ai has function. Unlike crypto
And the state
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POS does not consume resources.
This goes to show how low-effort the criticism campaigns are.
However… all cryptos have their health tied to bitcoin which is a large energy consumer. So the point is actually still very true (due to some other reason).