The co-founder of Apple has given a glowing endorsement of bitcoin. (File Photo) Steve Wozniak says he strongly believes in bitcoin as being completely distinct from the rest of the cryptocurrency space. According to the man often referred to as ‘
The Woz’, of the 1,500 altcoins in existence, only bitcoin can be considered ‘pure.’
In an interview with
CNBC on Monday, Wozniak says he hopes Twitter CEO
Jack Dorsey’s belief in bitcoin will come true. The Apple co-founder made the following comments at the
Money 2020 conference being held this week in Amsterdam:
“I buy into what Jack Dorsey says, not that I necessarily believe it’s going to happen, but because I want it to be that way, that is so pure thinking.”
Wozniak was referring to Dorsey’s comments back in March of this year. The founder and CEO of both Twitter and Square stated that he felt a single currency would emerge for the internet and the world. He went on to state that this currency would be bitcoin.
According to the CNBC report, Wozniak bought bitcoin when it was around US$700. He says he’s since sold all but one. However, even someone as technically capable as the co-founder of Apple was a still able to fall victim to a scam.
Wozniak was defrauded out of a quantity of the digital currency when exchanging it back to dollars.
In the interview Monday, Wozniak sang the praises of bitcoin, lauding the qualities of decentralisation and limited supply and likening it to a natural phenomenon that doesn’t require human intervention to work:
“Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions.”
Finally, Wozniak addressed the altcoin space. He claimed none of them could ultimately compete with bitcoin since each must serve the company that created it. Again, the topic of decentralisation was raised in his assessment:
“Only bitcoin is pure digital gold…and I totally buy into that. All the others tend to give up some of the aspects of bitcoin. For example, being totally decentralized and having no central control. That’s the first one they have to give up to try to have a business model.”