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Linux Inventor Says He Doesn’t Believe in Crypto (u.today)

submitted 5 months ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 1 points 5 months ago

It already exists without crypto tokens and it's called a referendum.

Different countries use it to different extents. The Swiss Country does a lot of it, for example.

But referendums are not always a good idea and are extremely prone to manipulation by the media and populism (see Brexit). Minorities are also underrepresented in referendums, which poses a real problem with these things.

Having an elected government with separation of power is definitely always better, than whatever DAOs are doing.