Linus Torvalds, the Finnish-born engineer famous for creating the Linux operating system, has recently voiced his criticisms of cryptocurrencies. In a recent forum post, the 54-year-old software developer described cryptocurrencies as “a great tool for fraud” and likened them to a Ponzi scheme designed to offload risk onto the next unwitting investor.

No Faith in Bitcoin

Known for his dry wit, Torvalds also remarked that he doesn't believe in "Santa Claus, the tooth fairy, or the Easter bunny." He made it clear that he doesn't invest in Bitcoin. In addition, Torvalds, who also created the Git version control system, addressed the rumors that he might be Bitcoin's mysterious creator, Satoshi Nakamoto. Some speculated that a line in the Linux kernel code was changed to read “Name = I am Satoshi,” but Torvalds dismissed this as a joke, emphasizing that he doesn’t hold a large Bitcoin fortune.

Skepticism of Technological Singularity

Torvalds also expressed his doubts about the concept of technological singularity, comparing it to children's fairy tales. He joked that, unlike the story of the very hungry caterpillar, these ideas serve as great clickbait. While he acknowledged that the idea of technological singularity is compelling for science fiction, he argued that the notion of endless exponential growth is unrealistic, stating, “We see the limits approaching.”

Torvalds’ views on cryptocurrencies and technological singularity have sparked significant discussion in the tech community. His critical approach provides valuable insights into these contentious subjects. Despite differing opinions, Torvalds' perspectives continue to be a major point of interest in both the technology and finance sectors.

As this article was being written, Bitcoin's price had again climbed past the $67,000 mark, after dipping to $66,000 earlier in the evening.