Steve Wozniak, the primary co-founder of Apple and a long time crypto fan, has called Bitcoin a “mathematical purity”. He has weighed in on some of the issues regarding the market.
His overall outlook is positive on Bitcoin and cryptocurrencies in general as an impactful apparatus for a better future.
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Steve Wozniak on Bitcoin
In a recent interview with Yahoo Finance, Wozniak has emphasized on Bitcoin’s potential as a currency that is truly autonomous. He argues that the US dollar or any other fiat currency isn’t truly fixed in value. This is due to the fact that governments can and will print money if they had to.
On the other hand, Bitcoin does not allow for borrowing money in such manner.
“Bitcoin isn’t run by some company. It’s just mathematically pure, and I believe nature over humans always.” Says Steve Wozniak.
Wozniak believes that crypto has “an awful lot of promise” that can be impactful on not only economy, but business practices, society and even elections.
Wozniak has publicly declared that he does not hold any Bitcoin. Considering that, unlike maximalists such as Jack Dorsey or Michael Saylor who hold massive amount of BTC, his opinion is truly unbiased. To follow up with his admiration, Wozniak also pointed out some flaws and shortcomings of cryptocurrencies.
The Challenges Ahead
Specifically speaking, Wozniak mentioned two issues that could be potentially problematic.
First and foremost, he believes that the governments will not allow cryptocurrencies to challenge their authority. This is a common belief that we have previously discussed on HiExchange blog.
“I love it when people like Jack Dorsey talk how crypto should be the heart of our business dealings. The trouble is, the government will never allow it to be out of their control. If it got to the point that everything was being done with crypto and it didn’t pass through governments for observation and taxation and all of that, governments would just disallow it. They wouldn’t give up their power. That’s where the heart of a lot of the power comes from – the US dollar.”
This is a solid point that many of the maximalists actively deny or ignore. The counter argument is always the same. Crypto will grow too fast and too furious much like a Trojan horse and by the time governments realize the severity of the situation, it is already too late. However, nothing is that simple. Only time will tell how the results will turn out.
The second issue Wozniak pointed out was the anonymity. “Crypto just has a little bit of anonymity, and I don’t know if that’s right… I think that everything that you do in life you should be able to stand up and say, ‘Well this is me doing this transaction.’ And [with] crypto, it’s hard to trace back to who’s doing what. It’s possible though.”
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