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Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

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Re: Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

#2

Post by threeseed »

With 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.

Re: Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

#4

Post by rbanffy »

threeseed wrote: post #2

With 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 ph…

He's a brilliant engineer, but, yes... His opinions are not informed ones on this matter.

Re: Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

#6

Post by cup-of-tea »

threeseed wrote: post #2

With 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 ph…

> 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.

Re: Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

#7

Post by hmate9 »

threeseed wrote: post #2

With 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 ph…

I 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.

Re: Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

#8

Post by asdsa5325 »

jumelles wrote: post #3

I 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.

I encourage everyone who supports Bitcoin to actually use it as a currency, instead of a sketchy investment vehicle

Re: Apple co-founder Steve Wozniak hopes Bitcoin will become global currency

#9

Post by lubos »

hmate9 wrote: post #7
threeseed wrote: post #2

With 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 ph…

I 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 e…

> 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 as one of the examples.

Bitcoin becoming a global currency would set us about 500 years back when precious metals were the global currency.

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