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.
  • Ciderpunk@lemmy.worldEnglish
    0·
    6 months ago

    I said generally. Your parents who get paid in local currency for their job are not trading in foreign currencies. The fact that rich people can find ways to squeeze more money out of just about anything isn’t a win for cryptocurrencies.

    • SlopppyEngineer@lemmy.worldEnglish
      0·
      6 months ago

      The main test is to give cryptocurrency to my grandparents and they should be able to figure that out and do their grocery shopping. I pity the people having to explain how to use cryptocurrency to my grandparents at the cash register.

        • TheGrandNagus@lemmy.worldEnglish
          0·
          6 months ago

          Not really. “Take your card out of your wallet, and instead of putting it in the machine and typing your pin, you just tap it against the screen”

          Vs “well, ok. I set up a wallet for you. No it’s not a real wallet, it’s on your computer. Anyway, your wallet has this huge long code that you can’t remember, so keep it safe, because if you lose it you lose all your money, ok? Right, well before you buy anything, you’ll need to register with an exchange, there are a number of exchanges, like XYZ, so sign up with one of those, then go onto their site and trade your cryptocurrency (the weird money in your wallet… no not your real wallet, grandad, your computer wallet), now you need to wait a while for the transaction to happen and you to receive your money. Now you can go to the shop and pay by card. Amazing, isn’t it? And it’ll only get better when everywhere accepts [coin], I’m sure that’ll happen any day now!”

    • Tachikoma741@lemmy.todayEnglish
      0·
      6 months ago

      My parents do this regularly. There are many Latino American families who regularly exchange USD to PESO and vise versa.