Steve Wozniak, co-founder of Apple with an estimated net worth of $100 million, praised bitcoin at the Times’ Global Business Summit, stating:
“Bitcoins to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can’t be altered,” he said.
Revealing he bought seven bitcoins when they were at $700, he said they were stolen from him through credit card fraud.
“I had seven bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy. And it was from a stolen credit card number so you can never get it back.”
So much for chargebacks, with the comment seemingly a snub of sorts to Visa et al as the above story immediately followed his statement that:
“The blockchain identifies who has bitcoins… that doesn’t mean there can’t be fraud though,” outside of the blockchain, presumably.
The creative inventor said he bought the bitcoins not as an investment, but as an experimentation to pay for things with digital money:
“I had them so that I could someday travel and not use credit cards, wallets or cash. I could do it all on Bitcoin. I studied which hotels and facilities accepted Bitcoin… it’s still very difficult to do so. I also tried to buy things online and trade Bitcoin online.”
Predictably, the millionaire didn’t have much luck day trading his seven coins. What’s more, even the mighty Wozniak succumbed to the crypto addiction:
“Because I didn’t want to watch the price everyday… I sold all except one. It was enough to experiment,” Wozniak said, we hope in some jest.
The Apple co-founder is just one among many that has recently revealed he owns bitcoins, but he is one of the first to say the main reason for doing so was to use it as an international currency.
The scalability problems have placed a little bit of dent on that front as far as bitcoin is concerned, but conceptually the problem is now solved, with implementation progressing.
There may therefore be many more shops and hotels that accept bitcoin in the years to come, but unfortunately we have no cure for his price addiction, neither tech wise nor otherwise.