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Apple co-founder Steve Wozniak hopes Bitcoin will become global currency
- foobarbazetc 8y agoIt won’t though. It’s a terrible currency.
- ca98am79 8y agoIt will, it is an excellent currency
- threeseed 8y agoWith all due respect to the guy but asking him is the equivalent of asking some random person on the street. He isn't an economist, civil servant or researcher who has actually invested significant thought on the matter. He is just someone who founded Apple decades ago and hasn't done much since. Also it's really just a terrible idea. The volatility, the fraud and ease of theft, the lack of connection to something physical, the fact it undermines banks whom serve an important purpose. No thanks.
- rbanffy 8y agoHe's a brilliant engineer, but, yes... His opinions are not informed ones on this matter.
- r32a_ 8y agoIf he is a brilliant engineer then he probably has done his research on that matter and has come to this conclusion. If he had no idea or at least wasn't informed enough he probably wouldn't comment on it.
- rbanffy 8y agoAs an engineer, I must warn you we tend to think we understand things better than we actually do. It's a professional hazard one learns to avoid with time and painful scars.
- cup-of-tea 8y ago> the lack of connection to something physical Do you get paid in something physical? Do you think there are notes or precious metals sitting in a safe somewhere that you just never use? I suggest you study money. Also don't use the word whom unless you know how to.
- threeseed 8y agoI am referring to the use of Bitcoin as a mass market currency. Physical currency is still useful in many situations where there is (a) no/intermittent networking, (b) when the cost of the purchase is less than the financial overheads and (c) for truly anonymous purchases. I could keep going. There is a reason that even in countries like Australia where we have widspread tap to pay that cash is still pervasive.
- stealthmodeclan 8y agoGo to China. I do not carry cash at all.
- cup-of-tea 8y agoThere's no reason bitcoin can't coexist with physical currency. An interesting question is if bitcoin were accepted everywhere, what would people trust more? Bitcoin or bits of paper printed by the government?
- hmate9 8y agoI agree with most of your points, except with volatility. If bitcoin becomes a global currency then it will have a much higher market cap than now and global support. This means it will have equivalent volatility to the dollar or euro. As adoption increases, volatility decreases. "the lack of connection to something physical" - one can also argue about this. Money in your bank account is pretty much virtual too. If everybody right now wanted to withdraw their money from their bank account into physical money, we wouldn't be able to do that. There just aren't enough paper notes. Far from it in fact, it wouldn't even be remotely possible. The biggest hinderance to bitcoin becoming a global currency in my opinion is the fact that governments are very scared of having a currency which they cannot control. Printing money is a wonderful thing to have for governments.
- lubos 8y ago> governments are very scared of having a currency which they cannot control And for a good reason. See: https://en.wikipedia.org/wiki/Great_Bullion_Famine https://en.wikipedia.org/wiki/Great_Bullion_Famine as one of the examples. Bitcoin becoming a global currency would set us about 500 years back when precious metals were the global currency.
- r32a_ 8y agoHe may have done his research and came to that conclusion, he isn't claiming to be an economist, civil servant or researcher. Also, no one is forcing you to use Bitcoin, Your government, however, forces you to use the state-controlled money.
- threeseed 8y agoI never said he was claiming to be anything. But the media is covering him because he's the ex-founder of Apple not because his opinion has some unique merit.
- ionised 8y agoYou actually defending banks here? The architects of financial crash after financial crash?
- jumelles 8y agoI encourage everyone who supports Bitcoin to speak out about it! It makes it easy to know whose opinions to take with a pillar of salt.
- asdsa5325 8y agoI encourage everyone who supports Bitcoin to actually use it as a currency, instead of a sketchy investment vehicle
- jraedisch 8y agoI wrote about it with kind of an amateur's perspective https://raedisch.net/articles/bitcoin https://raedisch.net/articles/bitcoin and am actively seeking discussions. Most people are guarded (rightfully so) possibly in fear of being burned. There are very few people in my vicinity that I can have constructive debate over Bitcoin with. In case you could be one of them and are ever near Hamburg, please feel free to contact me!
- simpleAdam 8y agoWozniak was a pretty amazing guy. Not sure what hes been up to lately.
- lowlevel 8y agoYeah, I'm not putting any weight behind this... ask him something more concrete like how to reduce the chip count on your disk drive controller.
- bdjshsvajwv 8y agoBUY BUY BUY!
- UwaisContreras 8y agoIs bitcoin not already a global currency?
- stealthmodeclan 8y agoBitcoin does solve an important problem of the current system that you need a license to process payments for someone else. Bitcoin solves this major issue. Anyone can start their own payment gateway without offering Blowjobs to Bankers like Stripe did.