Bitcoin

Steve Wozniak Calls Bitcoin “The Mathematics of Pure Gold” and the Reason Shows Why Crypto Might Be Here to Stay

Steve Wozniak Calls Bitcoin "The Mathematics of Pure Gold" and the Reason Shows Why Crypto Might Be Here to Stay

Apple Co-founder Steve Wozniak is a huge supporter of bitcoin, but is wary of other cryptocurrencies and related non-fungible tokens.

During a recent maintenance with Business Insider, Wozniak said Bitcoin is the “only [cryptocurrency] this is pure gold math,” praising the underlying technology and calculations behind the best-known cryptocurrency.

Wozniak has always been a proponent of advanced technology, having helped usher in the era of personal computing alongside the late Steve Jobs. Indeed, last summer, Wozniak rented the technical merits of Bitcoin at a technical conference, describing it as “the most amazing mathematical miracle”.

However, Wozniak remarked during the Insider interview that there could be many “scams” ​​among the deluge of new crypto and NFT projects, whose overseers may be unscrupulous people.

“There are so many cryptocurrencies coming out now; everyone has a way to create a new one, and you have a famous star with it,” Wozniak said. “It looks like they’re just collecting a lot of money from people who want to invest in the very beginning, when it’s worth pennies.”

So what makes Bitcoin special for Wozniak?

What is Pure Gold in the Mathematics of Bitcoin?

Although he did not explain during the interview why he is interested in the mathematics of Bitcoin, he probably appreciates that the calculations presumably help provide a technical explanation for Bitcoin’s supposed stability against gold. .

Bitcoin proponents have long referred to the cryptocurrency as a “store of value” comparable to gold, as its underlying technology presumably helps prevent counterfeiting and maintain a fixed supply, among other reasons. In January, Goldman Sachs predicted that Bitcoin would continue to take market share from gold, underscoring its growing popularity.

Ken Griffin, CEO of Citadel noted last week that he was wrong about cryptocurrencies in general, having previously called them “a jihadist call” against the US dollar. The fact that the crypto market’s market capitalization has reached “about $2 trillion in round numbers” shows people that Griffin hasn’t “got it right on that call,” he said during a interview with Bloomberg.

The adventures of Woz in crypto

Wozniak is also no stranger to crypto.

For example, he is a judge at unicorn hunters reality TV show, in which viewers can invest in startups that compete on the shark tank-like program. In February, unicorn hunters the executives launched the unicoin cryptocurrency, which they said was “designed to address extreme volatility, the major problem with traditional tokens, and to provide its holders with inflation protection,” according to a announcement.

Wozniak said unicoin “really opens up the world of startup investing to the masses,” and he hopes it will become “very successful.”

He contrasted unicoin with other cryptocurrencies, saying that it is not “just based on words and talks” but rather “truly based on the outcome of investments”.

He didn’t mention whether he was impressed with the underlying technology or the math behind unicoin, like he did with bitcoin.

Wozniak recently sang Bitcoin’s praises during an October interview with yahoo News in which he commented on the “mathematical purity” of cryptocurrency.

“Bitcoin is not run by a company,” Wozniak told Yahoo News. “It’s just mathematically pure. And I still believe that nature takes precedence over humans.

This story was originally featured on Fortune.com