Steve Wozniak (aka the âWozâ) thinks Bitcoin is better than gold and the U. S. dollar, which he called âphony,â because the government can always print more. On Sunday, October 22, 2017, the co-founder of Apple Computers shared his thoughts on cryptocurrencies and blockchain technologies at. You could fill a library with what I donât understand about the technology behind bitcoin. But in a purely theoretical sense, from what I understand, bitcoin could be an even better form of money than gold. And itâs certainly true that the financial industry has become parasitical since the dollar came off gold.
Popular article Bitcoin better than gold
Bitcoin is changing the perspectives of investors. But would you be willing to swap some cryptocurrency for a valuable guitar collection or a chunk of gold?. Bitcoin has better money characteristics than gold itself,â he said, before adding, âit is better at being gold than gold. â Investors who have gold in their portfolio, along with other precious metals are starting to look at the cryptocurrency.
This view contradicts with that of investment banking giant Goldman Sachs. Though more open to bitcoin than JPMorgan, Goldman Sachs recently warned its clients that bitcoin is not the ânew goldâ because gold satisfies the characteristics of money better than cryptocurrency does. . Bitcoinâs high volatility may be one of the larger barriers to transcending gold entirely. Furthermore, just because Bitcoinâs price past goldâs doesnât mean Bitcoin is worth more than gold. In fact, in order to match goldâs market cap of $7 trillion, a single Bitcoin needs to be worth around $500,000.
It seems that Bitcoin its gaining support from different important figures in the technological world. Steve Wozniak, Apple Inc co-founder, commented during an informal interview with the CNBC that Bitcoin is a better store of value than gold or the United States Dollar. . To better understand how the perception of money has changed over the years, letâs backtrack a bit. The Gold Standard. The gold standard was a monetary system which pegged the value of a state-currency to the price of gold. A country using the gold standard would set a fixed price for gold and buy and sell the asset at that price.
Gold has always stayed the go-to asset when things go wrong, still, however, Bitcoin is running circles around it. To understand why gold, being a mature asset, is lagging against relatively new Bitcoin, a few things must be taken into account. . Then there are a couple of advantages that make Bitcoin better than gold, at least for the millennial generation, which understands the digital currency better than the baby-boomer generation. Unlike gold, for instance, Bitcoin is a convenient medium of payments around the globe, though for a limited number of transactions. Then, thereâs
Bitcoin Gold is the brainchild of Jack Liao and is launching as a hard fork of Bitcoin. The goal of BTG is to become a better gold than Bitcoin. The chief way they have decided to do this is trying to solve miner centralization through a proof-of-work change.
Apple co-founder Steve Wozniak is betting on Bitcoin, saying that the cryptocurrency could become a better standard of financial value than gold or the U. S. dollar. Wozniak argued that Bitcoin is
Steve Wozniak: Bitcoin is better than gold and USD Bitcoinâs mathematical roots and finite supply make it valuable, believes Wozniak. In a freewheeling interview with CNBC, Steve Wozniak, co-founder of Apple Inc. and tech geek, extolled Bitcoin as a better store of value than Gold or USD.
/16/2017Bitcoinâs meteoric rise is leading some investors to argue that bitcoin is a better hedge against inflation and turmoil than gold, according to Morgan Stanley. Tom Price, a âŚ
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