Steve Wozniak says bitcoin is mathematical and pure

Steve Wozniak says bitcoin is mathematical and pure

March 1, 2018 Off By Maheen Hernandez

Steve Wozniak has quite a few good words for bitcoin as during a recent conference he praised the crypto by calling it mathematical, pure and unalterable.

Speaking at the Times’ Global Business Summit Wozniak said that bitcoin to him was a currency that hasn’t been manipulated by governments. Some time back when bitcoin was available at a low price of $100, Wozniak had bought seven coins for experimentation. These coins where stolen from him through a credit card fraud.

“I had seven bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy. And it was from a stolen credit card number so you can never get it back.”

So much for chargebacks, with the comment seemingly a snub of sorts to Visa et al as the above story immediately followed his statement that: “The blockchain identifies who has bitcoins… that doesn’t mean there can’t be fraud though.”

Wozniak confirmed he owned bitcoin not as investment but for experimenting with it as an international currency to pay for things and services. He said that he owned the coins so that someday when he traveled he could use the bitcoin instead of his credit card or cash or wallets.

Wozniak is one of the several people who didn’t have much luck day trading his coins. He even sold all of the coins except one. Though many high-profile people and celebrities have admitted to owning bitcoin, Wozniak is the first to say the main reason for doing so was to use it as an international currency.

The scalability problems have placed a little bit of dent on that front as far as bitcoin is concerned, but conceptually the problem is now solved, with implementation progressing.

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