- 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.
For all the reasons that crypto is a scam, every “value” stock - stock which does not now, and never has any intention of ever paying dividends - is also a scam.
Behind a value stock is a profitable company. Behind crypto-tokens is a hilariously inefficient database with no application in real life.
Gamble away your money, I’ll take the stock - or “have fun staying poor” like crypto-token morons like to say.
Except, you know, the stock being tied to ownership in a company that sells real goods or services. Definitely problems with how stocks are traded, but they’re quite different from crypto.
That’s the scam: without dividends, or at least the reasonable prospect of dividends, it is not tied to the company in any tangible way. Shareholders benefit only from speculation by other investors, and not from actual business operations.