Apple’s Steve Wozniak talks ‘bubbles’

Steve Wozniak, the co-founder of Apple has been talking at the NEX technology conference in New York. He has become yet another voice to add to those who compare the hype around crypto to the dotcom era. However, whereas most people claim that it is Bitcoin that is the ‘bubble’, Wozniak says it is a blockchain ‘bubble’ that we should be looking at.

He talked about how many companies who hoped for great things from the Internet crashed and burned and he thinks the same is happening in the crypto sphere.

However, it seems that Wozniak isn’t against crypto or blockchain. He said blockchain technology has real implementation potential, because it’s “decentralized and totally trustworthy.” But like the Internet, it could take longer than expected to catch up to its early hype. Reminding the audience that evolution can take time, he added, “It doesn’t change in a day, a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”

He also singled out Ethereum for a special mention and said it had the potential to survive the hype, because it has a specific use case, including the fact that developers can build their own projects on it. Even the big guns like Microsoft and J.P. Morgan are developing blockchain-based projects.

We must remember that Wozniak called Bitcoin “digital gold,” and even though it has been through the wars this year, he still believes it is “just amazing.” He is a Bitcoin owner, who bought it so that one day he could travel without cash or credit cards. Although he sold the majority of his BTC holdings when it skyrocketed last year, he still believes that the blockchain has the potential to disrupt social networks like Facebook, which he believes is “ripe for disruption” and needs to have its monopoly challenged.

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