Apple co-founder: bitcoin is better than gold and the dollar

Apple co-founder: bitcoin is better than gold and the dollar

   

Apple Corp co-founder Steve Wozniak believes that bitcoin than gold and “fake” dollars — because the dollar can be printed purely for political reasons, and the total bitcoin is unchanged, thus become the “fake dollars” are superior.

Bitcoin magazine, Wozniak held in Las Vegas Money20/20 described his remarks, although bitcoin has been criticized because of its price fluctuation, but it is more stable than the government’s currency, such as dollars, because it has a fixed supply, and fiat money can easily be diluted.

“The number of bitcoin is limited,” said the publication quoted Wozniak.

This makes it more “real” than the dollar, because the United States government for purely political reasons to issue new currency, this is “a false”.

He praised the bitcoin as a store of value, and compared it to have an appreciation of the assets, such as a house:

“Your house is valuable.

If this is a house, 40 years from now, it is still a valuable house, “he said, even if prices rise over time. In the past, investors use gold to hedge inflation monetary policy.

However, Wozniak warned that despite the supply of gold is fixed, the continuous improvement of the technology will enable the miners to be able to extract gold from the earth with higher efficiency, effectively dilute the supply.

“Gold mining, mining and mining continued,” Wozniak said.

“Maybe there is a certain amount of gold in the world, but bitcoin is more accurate and more standardized, no one can change the number (fixed total).”

This view and the investment banking giant Goldman (GoldmanSachs) view of contradiction.

Although bitcoin is more open than JP Morgan, Goldman (GoldmanSachs) recently warned its customers, bitcoin is not a “new gold”, because gold than encryption can meet the characteristics of monetary currency.

In other areas of discussion, Wozniak said, when he first understand bitcoin, he appreciates the digital attribute of it, but do not understand how to work a chain block.

However, now he is fully aware of this, he is now a major supporter of the blockchain technology and encryption currency.

In addition to bitcoin, he also said that he on the platform such as Ethernet Intelligent contract Fang excited.

He believes that the contract will be like “tens of thousands of intelligent (software) program”, open many possibilities, before the invention of computers, no one can imagine.

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