- 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.
And instead it should be hedgefunds that have that power?
There is a need for currency and someone is going to have control over the value of that currency. At least with the government you can vote the bastards out.
In the United States you cannot vote for the people who issue currencies. The Federal Reserve are a bunch of privately owned banks.
Nobody has to have control of the production of money, it is especially bad when corrupt people have the power to generate it into their pockets. I know it is hard to understand how generating money for one’s self is theft from everyone with money, but it is the case, you just have to try a bit harder to wrap your head around it.
I don’t think anything we’ve seen yet solves wealth inequality, but whether that becomes a property of a currency or not may change.
I agree voting is important for governance but what if citizens held that specific power by default instead of the government, and if the government wanted to use that power they would require asking for it? It’s the same people doing the voting but for a specific measure instead of a representative. I didn’t think we’re there yet but that being a possibility seems hopeful.