The Woz singles out Bitcoin as pure mathematical gold

What 

In an interview with Business Insider, Apple co-founder Steve “Woz” Wozniak singled out Bitcoin as the only cryptocurrency that is pure mathematical gold 

Why 

Wozniak has always been a proponent of Bitcoin and its underlying technology, also calling into question other so-called cryptocurrencies lacking in this department 

What next 

The Woz said there are many ripoffs in the cryptocurrency space today. These digital assets, or tokens, are structured more like companies and often have people at the helm looking to make a quick buck 

The story 

Commenting on Bitcoin’s underlying technology that enables it to function as a true decentralised, trustless, peer-to-peer network, Woz said it’s the only cryptocurrency that is “pure-gold mathematics”.

“There’s so many cryptocurrencies that come out now; everybody has a way to create a new one, and you have a celebrity star with it,” Wozniak said. “It seems like they’re just collecting a bunch of money from people who want to invest at the very earliest stage, when it’s worth pennies.”

The decentralised finance (DeFi) and NFT spaces have seen an increase in “rug pulls”, which is industry jargon for founders abandoning a project, usually following an investment round, and leaving investors high and dry. 

Speaking to Yahoo Finance in October last year, Wozniak differentiated Bitcoin from other less scrupulous crypto assets. “Bitcoin is mathematics, mathematical purity. There can never be another Bitcoin created. Bitcoin doesn’t even have a creator that we know of. Bitcoin isn’t run by some company. It’s just mathematically pure. And I believe nature over humans always,” he said. 

To find out more about Bitcoin and its origins, visit our Learning pages

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