Wozniak: Bitcoin is better than gold AND the dollar!

[CoinClarity]

Steve Wozniak, aka "The Woz," co-founder of Apple recently had this to say about bitcoin:

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.

He also simultaneously crapped on the USD, citing its potential for inflation as near infinite, thus rendering it "kind of phony" as a currency. Unfortunately, as far as fiat currencies are concerned, the USD is still technically the best (and least volatile) currency in existence.

Personally I believe he's both right and wrong. The USD is kind of like democracy: "the worst form of government except for all others tried."

And of course there's a finite amount of gold. Technically, new gold gets created but the process probably takes hundreds of millions or billions of years....

In any case, as far as bitcoin is concerned, this endorsement is pretty, pretty, pretty good... as Larry David might say.

[mondobitcoin]

Bitcoin is better then all (cash and gold), because is a virtual currency and is clear and have privacy settings.
Bitcoin and other criptocurrencies are the future!

[bitalive]

Yes, Steve Wozniak is right for now, and also for the future, Bitcoin is better than gold AND the dollar and will remain same.

[monkeydominicorobin]

Steve Wozniak, aka "The Woz," co-founder of Apple recently had this to say about bitcoin:

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.

He also simultaneously crapped on the USD, citing its potential for inflation as near infinite, thus rendering it "kind of phony" as a currency. Unfortunately, as far as fiat currencies are concerned, the USD is still technically the best (and least volatile) currency in existence.

Personally I believe he's both right and wrong. The USD is kind of like democracy: "the worst form of government except for all others tried."

And of course there's a finite amount of gold. Technically, new gold gets created but the process probably takes hundreds of millions or billions of years....

In any case, as far as bitcoin is concerned, this endorsement is pretty, pretty, pretty good... as Larry David might say.

For eight years Bitcoin flourished without endorsements. So why are we seeking validation from Billionaires. We all know what Bitcoin is. Endorsements are worthless. My two cents.

[panju1]

If you think the dollar can be inflated away, you should see third world countries. And I am not talking about Venezuela and Zimbabwe. Inflation in a normal, third world country can be 5-10%. So Bitcoin is a clear winner here.

[Taty]

But if it is better than cash and gold, why do some countries ask their public not to use it, instead of legalizing it?
I do sure that the world needs some changes in international monetary system, but will it be bitcoin?
What do you think?

[jseverson]

But if it is better than cash and gold, why do some countries ask their public not to use it, instead of legalizing it?
I do sure that the world needs some changes in international monetary system, but will it be bitcoin?
What do you think?

Just because Wozniak says it doesn't mean it's a fact. The entire issue isn't black and white, so it is debatable at best. Obviously, governments which decide to not welcome it has a different opinion. They either think it could cause an economic nightmare whose value is driven only by demand, or they think the fact that they can't control it can undermine their power in the long run.

Either way, I'm not entirely sure I agree that the monetary system needs changes, but if you have the chance to improve something, why won't you go for it? I don't know if the endgame of that is Bitcoin, but it for sure sparked the call for change.

[Taty]

But if it is better than cash and gold, why do some countries ask their public not to use it, instead of legalizing it?
I do sure that the world needs some changes in international monetary system, but will it be bitcoin?
What do you think?

Just because Wozniak says it doesn't mean it's a fact. The entire issue isn't black and white, so it is debatable at best. Obviously, governments which decide to not welcome it has a different opinion. They either think it could cause an economic nightmare whose value is driven only by demand, or they think the fact that they can't control it can undermine their power in the long run.

Either way, I'm not entirely sure I agree that the monetary system needs changes, but if you have the chance to improve something, why won't you go for it? I don't know if the endgame of that is Bitcoin, but it for sure sparked the call for change.

Thanks a lot for your answer. Agree with you.
I do sure, because historically the system has been changed in some time as the world is in progress every minute and it demands the new decisions. These decisions should be made by the leaders of the countries, but not by me

[Xavofat]

But if it is better than cash and gold, why do some countries ask their public not to use it, instead of legalizing it?

It is legal almost everywhere.

The reason why it's not directly supported by most states is because they were hoping for a slow and clean transition to a cashless society, and BTC, without a third party, is quite different to what they were hoping for.  It allows a digital currency which works without a centralised group controlling the transactions.

Gold gets mined and mined and mined.

Gold only gets mined until it's no longer worth mining.  This means that if the value rises, it's worth putting in more effort to mine it, thus increasing the supply and regulating the value.

While gold's value is far from stable, there is some relevance in having a physical resource with a notable purpose.  BTC users also shouldn't need to have an endorsement from rich people to support it.

[Juggy777]

Steve Wozniak, aka "The Woz," co-founder of Apple recently had this to say about bitcoin:

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.

He also simultaneously crapped on the USD, citing its potential for inflation as near infinite, thus rendering it "kind of phony" as a currency. Unfortunately, as far as fiat currencies are concerned, the USD is still technically the best (and least volatile) currency in existence.

Personally I believe he's both right and wrong. The USD is kind of like democracy: "the worst form of government except for all others tried."

And of course there's a finite amount of gold. Technically, new gold gets created but the process probably takes hundreds of millions or billions of years....

In any case, as far as bitcoin is concerned, this endorsement is pretty, pretty, pretty good... as Larry David might say.

I just wonder if appl is going to follow up on the Amazon rumor, as Amazon is rumoured to be accepting Bitcoin, what if this statement is a hint that Apple may accept bitcoin, this would be huge, even bigger than Amazon accepting it. Though there is not much of a hint that Apple would accept it yet the very prospect of them doing so excites me, it's even pertinent to note that the timing of this with iphone X could actually signal apple intent to accept this currency.

[Passive Coin]

If you think the dollar can be inflated away, you should see third world countries. And I am not talking about Venezuela and Zimbabwe. Inflation in a normal, third world country can be 5-10%. So Bitcoin is a clear winner here.

I agree with the above.
But, I disagree that some "economists" try to persuade us that inflation is something "good" for the whole economy. It's not good, causing people's savings lose value because some politicians and banksters wants so.

Bitcoin have many advantages against gold. Please take a look at transaction cost, for example. You need also a really safe place to keep bigger amount of gold.

[EMS-007]

Steve Wozniak, aka "The Woz," co-founder of Apple recently had this to say about bitcoin:

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.

He also simultaneously crapped on the USD, citing its potential for inflation as near infinite, thus rendering it "kind of phony" as a currency. Unfortunately, as far as fiat currencies are concerned, the USD is still technically the best (and least volatile) currency in existence.

Personally I believe he's both right and wrong. The USD is kind of like democracy: "the worst form of government except for all others tried."

And of course there's a finite amount of gold. Technically, new gold gets created but the process probably takes hundreds of millions or billions of years....

In any case, as far as bitcoin is concerned, this endorsement is pretty, pretty, pretty good... as Larry David might say.

The enormous Dollar once became the king of the world when it comes to paper currency. but this ain’t your Daddy’s Dollar. Today’s U.S. Dollar is over 70 years old as the global reserve currency.
This means it has liver spots, a severe limp, and a leaky bladder. Uneasy is its crown on the throne. The clock is ticking on the ‘ole
And Bitcoin was born!

[btcmayumana]

Bitcoin is better then all (cash and gold), because is a virtual currency and is clear and have privacy settings.
Bitcoin and other criptocurrencies are the future!

But still, if i got much money, i will invest in all field including cash and gold for sure.
We already know bitcoin are new technology in finances systems. We trust to keep money as our bank.

[LoyceV]

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.

Everybody knows this, Bitcoin is designed to be deflationary, unlike fiat money, which needs inflation to pay off the debts it's based on. Is it news because a billionaire says it?
Having a finite supply isn't enough to give something value. To gain value, anything needs people who want to have it.
The maximum number of Bitcoins didn't chance over the past 8 years, and yet, Bitcoin is worth a million times more now.

And while it's impossible to create more Bitcoins, altcoins are created like crazy, dilluting Bitcoin's share of the total crypto market cap.

When talking about the total amount of gold ever mined, it's nice to visualize:

More gold visualisations on visualcapitalist.com.

[neo444]

Yes i'm agree with your opinion and i think bitcoin will make a very fast progress in the future and will be uses much more in our lifes and that will be augmented her value

[mysterio2018]

 May be better, but definitely not more stable.

[berluscoin]

[edit] I can't post the link, but if you go on google and type "Wozniak bitcoin", you will have the CNBC video. [edit]

This is the original interview.

1. Wozniak never says that bitcoin is better than gold and dollar;
2. He admits that he's not that much into it.

I have some bitcoins, I strongly believe in it and I hope that the price will always go up, but this interview doesn't seem to add anything, it's not like he said "tomorrow I'm going to buy 10,000 bitcoins"

[BIG Tyrese]

This guy knows the future of technology as hes very up to date with it its nice that hes weighed in on bitcoin positively.

[CoinClarity]

This guy knows the future of technology as hes very up to date with it its nice that hes weighed in on bitcoin positively.

BOOM. Smartest post here so far. You sir, win the Big Brain award for this thread.

[Bakemat]

Steve Wozniak, aka "The Woz," co-founder of Apple recently had this to say about bitcoin:

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.

He also simultaneously crapped on the USD, citing its potential for inflation as near infinite, thus rendering it "kind of phony" as a currency. Unfortunately, as far as fiat currencies are concerned, the USD is still technically the best (and least volatile) currency in existence.

Personally I believe he's both right and wrong. The USD is kind of like democracy: "the worst form of government except for all others tried."

And of course there's a finite amount of gold. Technically, new gold gets created but the process probably takes hundreds of millions or billions of years....

In any case, as far as bitcoin is concerned, this endorsement is pretty, pretty, pretty good... as Larry David might say.

Yeah. If we think logically that's the truth. Because bitcoin really usefull in terms of faster transaction and for the expensive value. But if we think practically gold and dollars are better than the bitcoin. Because gold is we sure that it will be never destroyed and disappear .dollars too, because all people know about it unlike bitcoin.bitcoin is only popular to the people who used the internet