The programmer behind the first Apple computer drew parallels between the “artificial” U.S. dollar and the “mathematically pure” Bitcoin.
Bitcoin is mathematical purity and impossible to be copied, stated Apple co-founder and ‘Unicorn Hunters’ Circle of Money Investor, Steve Wozniak, in an interview with Yahoo Finance on October 29.
“Look at the U.S. dollar, the government can simply create new dollars and borrow; it is such as you never have it fastened, like Bitcoin,” Wozniak informed Brian Sozzi and Julie Hyman. “Bitcoin is mathematics, mathematical purity. There can by no means be another Bitcoin created.”
The entrepreneur drew parallels between the U.S. monetary system and the digital peer-to-peer financial network. Whereas the U.S. dollar seems “artificial” to Wozniak, he enjoys the “science, math, logic, and computer programming” embedded in BTC.
“If there’s inflation, your house goes up 10x in 40 years and also you assume you are a smart investor; no, you have an old house,” Wozniak articulated. “You used to have a new house, however, the authorities say 90% of its value is earnings and we’re going to tax it. The government makes all of its taxes off inflation.”
The programmer behind the primary Apple laptop additionally highlighted how BTC isn’t managed by one single entity and thus can retain a degree of predictability that’s arduous to realize with the U.S. greenback, as regulators can create new paper payments on a whim.
“Bitcoin would not actually have a creator that we all know of, it is not run by some firm, it is simply mathematically pure, and I imagine nature over people at all times,” he added.
Nevertheless, Wozniak additionally showcased some misunderstandings about Bitcoin and the human proper to privateness. The co-founder of Apple stated BTC and a few cryptocurrencies have “just a little little bit of anonymity,” which he would not see as an excellent factor. “It’s best to be capable to arise and say I did this transaction,” he stated, questioning the necessity for privateness.
On this regard, Wozniak’s remarks are short-sighted and showcase a deep degree of privilege. As a financially-privileged white male within the U.S. who can get pleasure from a excessive diploma of freedom, he fails to acknowledge the 4.3 billion folks dwelling underneath authoritarian regimes worldwide — for whom “standing up” may deliver dire penalties.
Wozniak additionally would not understand the incentives lined up by Bitcoin to incentivize everybody to undertake it and the truth that Bitcoin can not successfully be banned.
source: Bitcoin Journal
