Apple’s co-founder Steve Wozniak seemed confident about Bitcoin’s future, calling it better than gold or the U.S dollar, while speaking at the Money 20/20 conference in Las Vegas.
According to the ‘Woz’, Bitcoin is more real and genuine when compared to the dollar, which he called “phony” since the government can arbitrarily print it.
Bitcoin, which is currently the world’s largest cryptocurrency in terms of market cap, sits at around $5,500 at the time of writing. While there are a little over 16.5 million Bitcoins in circulation right now, the total cap is set at 21 million, which makes it a finite resource.
Wozniak even compared Bitcoin to actual gold, but favored the former due to its mathematical certainty:
“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 Bitcoin is even more mathematical and regulated and nobody can change mathematics.”
Going on, the Woz explained his initial difficulties in being able to buy Bitcoin, owing to the standard verification requirements. However, he stated that he admired the cryptocurrency from the start and is not very particular about its price movements.
“I looked at it as a form of currency. I am not financial. My wife and I, we judge a hotel room more by the number on the door than what is inside the room. We are both mathematicians.”
The Apple co-founder also spoke about blockchain technology and how it is opening up possibilities that weren’t possible before.
“Right now, there is conflict with minerals in the world, and you don't want to buy conflict minerals. Well, how do you avoid it? They are applying the technology (blockchain) where all the payment can only go to the good, legitimate sources that don't have conflict minerals.”
Wozniak, a programmer himself, also praised smart contract platforms such as Ethereum, which according to him, open new opportunities for developers to code programs that can change the way we conduct value-transactions.