Apple Founder: ‘Bitcoin is More Valuable Than Gold & the US Dollar’
Wozniak believes Bitcoin and Blockchain are the 'next major IT revolution.'
Apple founder Steve Wozniak has said he believes that Bitcoin is more valuable than the gold or the US dollar.
Wozniak believes Bitcoin and Blockchain are the “next major IT revolution.”
Wozniak, who co-founded Apple Inc with Steve Jobs and Ronald Wayne, said that Bitcoin is much better than Gold and the US dollar as a currency.
The Apple founder gave cryptocurrency and its underlying Blockchain technology a powerful endorsement during a conference on Thursday.
Mr. Wozniak hailed the “revolutionary” tech while speaking in Vienna on stage at the WeAreDevelopers World Congress.
Wozniak said that Blockchain is “the next major IT revolution that is about to happen,” and he believes it will have a massive impact on the technology sector.
Despite his confident words about Bitcoin and Blockchain, the Apple founder said in a separate interview that he was disappointed with centralized technology.
Referencing Facebook’s Cambridge Analytica scandal, he said he was “bothered by what technology has become.”
Decentralization is the future
“We used to be able to have conversations in secret with people,” the American inventor said.
“If I were to say something to you in private now, others wouldn’t hear it — that isn’t the case anymore.”
“We lost our security a long time ago.
“We’ve lost our privacy and it’s been abused.
“If I think I have a level of privacy that I don’t, that’s deceit.
“And that bothers me.
“I hit a limit.
“I can’t take that.
“It’s one step in a long series of steps that are all in the same direction.”
Mr. Wozniak hasn’t given up on other Silicon Valley companies just yet, however.
The Apple founder, revealing his excitement about buying himself a Tesla after buying his wife a Mercedes, said”
“Elon Musk emailed me, said that I bought a gas guzzler, said that I’m not a ‘true Silicon Valley boy’ – I love that phrase.
“After a few months, my wife came into my office one night and said ‘if you want a Tesla you can order it.’
“30 seconds later [I ordered it].”
Traditional currencies are ‘kind of phony’
His promulgations about Blockchain technology follow previous statements about how Bitcoin is better than gold and the US dollar in significant ways.
Speaking in Las Vegas last October at the Money 20/2- events, the Apple founders described traditional currencies as “kind of phony.”
“Woz” said this was due to the fact governments can create new units of the currency for political reasons.
He added that gold also lacks a fixed supply, saying:
“There is a certain finite amount of bitcoin that can ever exist.
“Gold gets mined and mined and mined.
“Maybe there’s a finite amount of gold in the world, but cryptocurrency is even more mathematical and regulated and nobody can change mathematics.”