Linus Torvalds, the Finnish-American software engineer renowned for creating the Linux operating system, has expressed his skepticism about cryptocurrencies. In a recent forum post, the 54-year-old computer scientist criticized the new digital asset class, likening it to common financial scams.

Cryptocurrencies: “A Great Vehicle for Scams”

Torvalds didn’t mince words in his post, where he referred to cryptocurrencies as a “great vehicle for scams.” He compared the nature of cryptocurrencies to a typical Ponzi scheme, which relies on attracting new investors to pay off earlier ones. Torvalds humorously dismissed the legitimacy of crypto by saying, “Nor do I believe in Santa Claus, the tooth fairy, or the Easter bunny.”

A Satoshi Candidate?

Interestingly, Torvalds has been speculated to be Satoshi Nakamoto, the mysterious creator of Bitcoin. This speculation was fueled by Torvalds’ impressive skill set and his role in creating both the Linux kernel and the Git version control system. In January 2022, rumors intensified when someone altered the Linux kernel code to include the phrase “Name = I am Satoshi.”

Torvalds later clarified that this was the work of a prankster exploiting GitHub’s system to make it appear as though the change came from him. He dismissed the rumors as “empty noise” and denied owning any significant Bitcoin fortune.

Dismissing the Technological Singularity

Torvalds also addressed the concept of technological singularity, which suggests a future point where technological growth becomes uncontrollable and irreversible. He dismissed this idea as “a bedtime story for children,” adding that while it makes for intriguing sci-fi, it lacks practical sense. According to Torvalds, the notion of continuous exponential growth is unrealistic, as we are already approaching technological limits.

Linus Torvalds, a pivotal figure in the tech world, has made his stance on cryptocurrencies and futuristic technological concepts clear. He views cryptocurrencies as scam-prone and rejects the idea of technological singularity as fanciful. His pragmatic perspective offers a counterpoint to the often exuberant enthusiasm surrounding these topics.