this post was submitted on 20 May 2024
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1599
Linux Inventor Says He Doesn’t Believe in Crypto (u.today)
submitted 6 months ago by [email protected] to c/[email protected]
672 comments fedilink hide all child comments
 
  • 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] 13 points 6 months ago (2 children)

Evading paying taxes is a good thing? Well no.

[–] [email protected] 1 points 6 months ago

Paying taxes is one thing, and of course it is necessary. Extra value is extracted by printing more and more money. USD used to be backed by gold, but they took that away. In addition to corrupt governments extracting value by printing more and more currency, counterfeitters also do the same. Bitcoin fixes both of these issues. There is absolutely no reason why Bitcoin and taxes can't coexist.

Furthermore, with bitcoin we can electronically transfer exactly how much value we want to without having to trust every single vendor with our credit/debit card numbers. Have you ever had to cancel a card because of fraudulent spends? Well, millions of Americans do every year and this also doesn't happen with Bitcoin. You send exactly how much you want to, you don't hand indefinite access to your funds to every single vendor to sell your information or steal from you whenever they want. In the last 2 weeks I've had over $400 stolen from my debit card because of this idiotic system.

[–] [email protected] -1 points 6 months ago (1 children)

Even if you live under a genocidal regime?

[–] [email protected] 2 points 6 months ago (1 children)

Yes, because infrastructure, subsidies, education and social spending still need to happen and not paying your taxes will erode those things long before they stop a genocide. If you don't care about getting in trouble with your government, there are more effective things that can be done.

[–] [email protected] -1 points 6 months ago (1 children)

So you’re arguing it is moral to pay taxes even if you are North Korean? Interesting.

[–] [email protected] 7 points 6 months ago

Our citizens pay taxes out of pure love and devotion to our Dear Leader. We don't have room for your silly Western moralities.