Bitcoin to Steve Wozniak i.e. the co-founder of Apple Inc. is a phenomenon born purely out of mathematical science. He appreciates the idea of Bitcoin’s limited supply. However, what he does not appreciate is the fact that worldwide governments cannot afford to continue to ignore Bitcoin, and eventually they would go after it because of its rarity that will prevail once the limited supply reaches its end. But even before that, they would like to utilize it for revenue generation and for gaining their control over it.
On the insistence of Yahoo Finance, Steve Wozniak was convinced to record an interview on 29th October 2021. In the interview, he was asked questions about Bitcoin and on the specific topic of “crypto”. The first question he faced was whether or not he is a crypto believer. Without acknowledging whether he is a believer or not, Wozniak said that he likes crypto, but he would prefer the underlying technology of crypto i.e. “blockchain”.
He said, in the beginning, no one had ever thought that blockchain could have been used for a number of purposes. Though the inventors knew, yet it was hard for the rest of the world to believe in “blockchain”. Now blockchain is even being used in the general elections for vote counts, said Wozniak. He suggested that the design of the blockchain is trustworthy and that it can be modified to fulfill a specific purpose.
Wozniak then went on to compare the US Dollar with Bitcoin. He gave an example by suggesting that if one looks at the US Dollar then there is no supply limit on it. In the case of Bitcoin though it has a limited supply. What is happening is that the Government in US is increasing the debt by printing more and more USD. He said that Bitcoin is born out of pure match magic. It is in its purest form and there can never be another “Bitcoin”, said Wozniak. He also suggested that even the world is not aware who was the person that created Bitcoin in the first place. Though it is a currency yet it hasn’t been issued by any financial institution nor by any company.
The next question he faced was whether crypto will make any difference in the way of doing business. He responded indeed crypto is already making that difference. It is a serious business investing in crypto these days, said Wozniak. He said that the world is already acquainted with digitalization. There is this Apple Play, Google Pay etc. where the world is paying via digitally. So crypto is just one method although there have been a number of methods used on daily basis everywhere. However, his only fear is that why would governments ignore such a thing like Bitcoin. In fact they are aware well-aware that crypto could be a huge source of revenue generation. So today or either tomorrow, they will be coming after crypto and will do their best to supervise it.