Apple Co-founder Steve Wozniak Says Blockchain is a ‘Bubble’ but Still Thinks Bitcoin is ‘Amazing’

Apple Co-founder Steve Wozniak Says Blockchain is a 'Bubble' but Still Thinks Bitcoin is 'Amazing'

Apple co-founder Steve Wozniak has added his two cents about Blockchain at the NEX technology conference in New York. His statements are a tad bit confusing as he finds it a bubble with a lot of potential for real-world scenarios.

Steve Wozniak along with Steve Jobs co-founded Apple Computer Inc. which was the pioneer of modern day personal computers from the 1970’s onwards.

On stage at the conference, Steve Wozniak spoke about Blockchain’s similarities to the dotcom era where companies related to the internet were being hyped tremendously. “It was a bubble, and I feel that way about blockchain,” he said.

The dotcom bubble occurred from 1997 to 2001 where extreme growth took place because of the internet however it led to many companies crashing when the bubble burst.

Wozniak is known to hold some Bitcoins, and thus complemented the Blockchain system too with words such as “decentralized and totally trustworthy.”

Wozniak pointed out that Blockchain ideas need to be thought for in the long run to avoid complications similar to the dotcom bubble.

“If you look now you say all that internet stuff happened, we got it, it just took a while, 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.”

Wozniak spoke about his Bitcoin experience at the conference.

“All of the sudden it was way down, then way up in the sky. I got scared, and sold everything but one bitcoin,” he said.

In October 2017, at the Money 20/20 conference in Las Vegas, Wozniak was seen showering a lot of praise to Blockchain. Especially to Bitcoin by stating Bitcoin was better than both gold and the US dollar.

Let us know what you think the late great co-founder of Apple Steve Jobs would have said about Blockchain and Cryptocurrencies if he was alive today!

Image Source: “Flickr”

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