Bitcoin is certainly a point of debate and discussion right now, the cryptocurrency has taken the tech world by the storm. The price of the Bitcoins has skyrocketed back in December and since then everyone is keeping their eye on the most talkative digital currency. However, in spite of all the buzz still, Bitcoin and the blockchain technology is quite a new thing for most of us. Apple co-founder Steve Wozniak is the latest one to join the bitcoin talks...
Steve Wozniak is known for his straightforward and controversial statements and he did it again with his latest words on the cryptocurrency. Wozniak believes that the Bitcoins are better than the Gold and US dollars. According to the Wozniak, the cryptocurrency is way smarter and secure way of ensuring your assets. He thinks that the Bitcoins have many advantages over the Gold and real money storage. Having a finite and predictable storage along with inevitable security to any potential exploitation are among those benefits.
Talking about the decentralized technology he considered the Bitcoins as a home and explained that the home will continue to exist regardless of a price hike or government tax variation. The Bitcoin is the best assets in today's world its value cannot be destroyed and will depend only on what is done. In his opinion, the technology behind the Bitcoins is unbeatable against Dollars and Gold. The value of Gold depends on the technological advancement that is required for mining them. Similarly, the Dollar is also bounded by the centralized government. The quantity of the currency can be altered by the government anytime, which will increase or decrease the value of the dollar instantly. On the other hand, the Bitcoins are backed by the decentralized system which records data on the openly distributed ledger that can not be controlled by a single entity.
The other important advantage that Wozniak has pointed out, the capability of blockchain technology to trace any of the assets. This makes the technology perfect for the sectors like finance and mining. In addition to this, he also appreciated the Ethereum, the platform that helps developers to build applications based on blockchain technology.
On the contrary, Wozniak has sold out his all the Bitcoins, he confirmed it during the Nordic Business Forum in Stockholm. On this Wozniak said that he didn't want to be man worrying about the numbers all day long so he got rid of all the bitcoins. He wants some peace in his life that's why he sold all of his bitcoins that he bought for $700 per coin, out of curiosity.
Akash Singh Chauhan is a senior writer at MobileAppDaily and he mainly covers all the latest happenings and tweaks in mobile app technology. Being an Engineering graduate he is always compelled to the technology and tries to discover new trends in the tech world. Along with any tech news he also never misses a single episode of ‘Dragon Ball’.Follow