Steve Wozniak: "Bitcoin Is Better Than Gold"

Steve Wozniak: "Bitcoin Is Better Than Gold"

In an interview with CNBC, Steve Wozniak, the co-founder of Apple Inc and Tech Geek, said that Bitcoin is better than gold or the US dollar. During the conference on the future of payments and currencies, Wozniak, a mathematician by education, explained why he believes that Bitcoin is better than the US dollar and gold. Unlike gold or the dollar, Bitcoin has a predictable final value, Wozniak argues that the value of gold will fall when more effective mining methods are invented.

He also noted that the US dollar is, in a sense, "fake" because of centralized control over the creation and use, giving the right to abuse. Wozniak added that he had admired Bitcoin right from the start, the mathematician said he was not interested in the financial part, but instead, he believed in the promise that Bitcoin holds as a currency.

Tech Geek also told how difficult it was to buy Bitcoin in the first days after its launch. Comparing Bitcoin with the house, Wozniak said that regardless of how much the price increased or the government imposed taxes on it, the house will still exist as a real and stable asset. Similarly, Bitcoin, it is limited in quantity, and no one can dilute the offer.

Steve Wozniak said that Blockchain technology should expand, and also gave examples of its use in various areas: from financial services to mining. He also touched upon Ethereum, another cryptocurrency based in Blockchain, Wozniak states that Ethereum has opened a whole new world.

After breaching the $20,000 barrier a few days back, Bitcoin, the world’s most popular cryptocurrency with the largest market cap, has generated much buzz and interest in the financial world. As many as two exchanges have set up futures trade on the cryptocurrency, bringing much cheer to the Bitcoin community and investors. Bitcoin’s full potential remains to be seen as the cryptocurrency gains popularity and users by the day.

Information Source: CNBC