Monday, Nov 28, 2022

Cryptocurrency Bitcoin is ‘mathematical purity’: Apple co-founder Steve Wozniak

Steve Woznaik highlighted that Bitcoin is not controlled by one single entity and thus can retain a level of predictability.

Bitcoin is seen in this picture illustration taken October 19, 2021. (REUTERS)

Apple co-founder Steve Wozniak has endorsed cryptocurrency Bitcoin calling it mathematically pure. “Bitcoin is mathematical purity and impossible to be copied,” he said in an interview with Yahoo Finance on October 29.

“Look at the US dollar, the government can just create new dollars and borrow; it’s like you never have it fixed, like Bitcoin,” Wozniak told Brian Sozzi and Julie Hyman, in an interview. “Bitcoin is mathematics, mathematical purity. There can never be another Bitcoin created.”

“If there’s inflation, your house goes up 10x in 40 years and you think you’re a smart investor; no, you have an old house,” Wozniak explained. “You used to have a new house, but the government says 90 percent of its value is earnings and we’re going to tax it. The government makes all of its taxes off inflation.”

Woznaik also highlighted that Bitcoin is not controlled by one single entity and thus can retain a level of predictability that is hard to attain with the US dollar, as regulators can create new paper bills on a whim. “Bitcoin doesn’t even have a creator that we know of, it isn’t run by some company, it’s just mathematically pure, and I believe nature over humans always,” he added.

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Speaking about misunderstandings between Bitcoin and the human right to privacy. The co-founder of Apple said Bitcoin and some cryptocurrencies have “a little bit of anonymity,” which he doesn’t see as a good thing. “You should be able to stand up and say I did this transaction,” he said, questioning the need for privacy.

First published on: 30-10-2021 at 06:32:25 pm
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