- 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.
I saw the point you where trying to make, diminishing my knowledge in the matter due to your presumption of my privileges.
Then railroading off with how its good as poor countries are forced to invest in these schemes.
Do you know much of rune scape gold farming? Gold farming in rune scape was very profitable. Westerners would pay slave wages to poor countries to play and farm in run scape working 60 hours, this was eventually broken up which also didn’t lead to a good outcome as a large community lost the financial structure they depended, essentially chewing up and spitting out the disadvantaged.
Similar instances have popped up since crypto where again it has created a work force built on shaky ground which doesn’t just exploit but creates a dependency on something liable to fail.
So again no crypto will not fix third world problems as it allows for massive exploitation.
Oh my. Hold your horses buddy. Nobody is forcing poor people to buy bitcoin. People are just faced with a choice, they can hold their value in fiat currencies that corrupt governments are printing like crazy, or they hold their value in a decentralized currency that nobody has control over and nobody can print on a whim. Just because you feel like you missed out on a good investment and so you are bitter towards an entire growing industry doesn’t matter at all to people who are using it to escape corruption.
It really isn’t nearly as complex or evil as you think it is. It really is just a way for people who have repeatedly been screwed over by corrupt politicians to escape corruption. It’s just a matter of time until more and more people around you realize the same, and eventually you will join in, albeit a bit late due to your ignorant bitterness. You do yourself no favors by being against something simply because you don’t take the time to understand it.
like nobody is forcing the poor to drink dirty water or go without food…
you make a lot of assumptions. next you’ll be calling me a basement dweller.
capitalism isn’t evil, guns aren’t evil, physical currencies aren’t evil, they are instead an easily manipulated vehicle that intern can be used for evil. crypto has proven itself with the sheer amount of scams to be easily manipulated. i don’t see crypto as complex, i have followed it since 2013 and have a good understanding of encryption and decentralized systems as well as economics.
the main reason i don’t like or see use for crypto is that i am a socialist, crypto goes against core socialist economic values. it also pollutes as the oil cost is high, it promotes commercialization, its abusive to human psychology with fomo, it feeds into libertarianism.
Poor people all over the world are less poor because they have used bitcoin to escape predatory devaluing fiat currencies. Go check out much of Africa, much of South America, Turkey, Georgia, and Southeast Asia. There are literally people eating better food and drinking cleaner water thanks to the fact that they can maintain their hard-earned value with bitcoin.
Nobody said capitalism is bad. Nobody said guns are bad, I have no idea why you would feel the need to conflate issues. I get that you can read headlines, but dig a bit deeper, and you will actually be able to argue from thought-out stances. The crypto oil thing was a scare tactic that got thoroughly disproven many years ago. Mining is rapidly ushering in the transition to renewable energy sources. It is also preventing waste of energy that would just dissipate.
The information is out there. It’s just up to yourself to put in the work to educate yourself. I don’t mean run around trying to find anything that will agree with your original hunches or whatever to try to guard your ego. I mean, look at it with fresh eyes and be willing to expand your view after critically analyzing the situation without bias. It is actually a good thing to be capable of arguing from both sides so that you are able to honestly weigh the situation. Right now you are just spewing old headlines that you once saw and not even attempting to make a coherent argument.
It will only help you to educate yourself. It’s not nearly as daunting as it seems. The next step is to quit trying to defend a stance that you don’t understand and to spend some time researching and asking questions. If you had understood what bitcoin was in 2013, then you would be in a much different situation than you are in right now.
Speaking about guns, capitalism and currency were to give examples, and thus context. And if you can show me evidence that crypto has improved so many live in impoverished counties, maybe a crypto GDP study I would love to see it.
I speak of gas prices as I had mined bitcoin and monero and know for a fact that my GPU was 100%, my electricity bill went up. and the crypto miner I repaired PC components for would have a repaste job every few months.
Bitcoin Brought Electricity to Countries in the Global South
Cryptocurrency Adoption in Developing Countries
Bitcoin Spurs Major Renewable Projects From Ocean Thermal To Hydro
BTPI will research relationship between Bitcoin and financial freedom
A great way to really understand just how much Bitcoin and maybe some stablecoins are impacting the lives of people in poorer nations is to just go and talk to people. Spend a few weeks in Tbilisi or similar places and just walk around and talk to average people. Bitcoin is so popular amongst the average people there that many random little shops are even selling socks or Tshirts with the Bitcoin icon on them. So many lives have been saved, and the people there genuinely love Bitcoin.
There is a huge difference between crypto and Bitcoin. There are many shitcoins that try to pretend to be the next Bitcoin or whatever, but literally 99.9% of them are absolute garbage. Luckily, they are drying up and blowing away. For people who this stuff really matters for, they are able and willing to look deep enough to see the benefits of Bitcoin and are much less likely to fall into the BS traps of CyberCoin or whatever.
It is often the uneducated outsider that hasn’t lived the horrendous harm of horrible government currencies that are so vehemently opposed to Bitcoin. It just screams privilege, like when some spoiled trust fund kid gets mad at homeless people because they won’t just go home. When people are struggling to not drown and they find a life raft, they simply don’t care if people in yachts tell them it looks tacky.
If you genuinely want to give this a fair shake, then Google things like “bitcoin encourages renewable energy after:2023” or “Bitcoin adoption in poor countries after:2022”. Get recent information and be open to having your mind changed. Bitcoin threatens the imbalance of power, and this is why there is a push to get people in powerful countries to not think deeply about how much it is helping the less fortunate right now. It’s just a matter of time though. Knowledge naturally spreads.