Steve Wozniak (aka the ‘Woz’) thinks Bitcoin is better than gold and the U.S. dollar, which he called “phony,” because the government can always.
On Sunday, October 22, 2017, the co-founder of Apple Computers shared his thoughts on cryptocurrencies and blockchain technologies at Money20/20 in Las Vegas where he was interviewed by Deirdre Bosa, technology reporter at CNBC. The conversation was around artificial intelligence, but the topic of Bitcoin emerged as well.
Wozniak feels a currency is more “stable” when it cannot be diluted and, while Bitcoin has a fixed future supply (only 21 million bitcoins will ever be mined), the same cannot be said about government-backed fiat currencies.
Similarly, he said, gold does not necessarily have a fixed supply either, because humans will continue to find more efficient ways to dig it out of the earth.
“Gold gets mined and mined and mined,” Wozniak said. “Maybe there’s a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics.”
He compared owning Bitcoin to owning a house. “Your house has value. And if it is a house today, 40 years from now, it still is a house in value,” he said, even if the price goes up and the government draws more taxes out of it.