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June 28, 2022
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Bitcoin

Bitcoin is better than gold

The American electronics engineer and philanthropist – Steve Wozniak – described Bitcoin as a mathematical phenomenon. He even went a step further, claiming that the original cryptocurrency is better than gold.

Steve Wozniak is delighted with Bitcoin

Co-founder of international tech giant Apple – Steve Wozniak – during a recent presentation at Talent Land Jalisco, Mexico showed his sympathy for digital assets, in particular Bitcoin.

The engineer, also known by the nickname “Woz”, described the largest cryptocurrency in terms of market capitalization as a “mathematical miracle.” In his opinion, gold lags behind virtual assets as a store of value. Wozniak argued that a precious metal could pose challenges due to its physical form. Bitcoin, on the other hand, is much more easily available:

Gold is limited and must be sought. Bitcoin is the most amazing mathematical wonder.

Nevertheless, the co-founder of Apple also said that he does not personally invest Bitcoin. On the other hand, it believes that the asset will increase in value in the future.

Thus, Wozniak joined other names known in the industry who have a similar opinion about the bitcoin vs gold battle. Among them are Michael Saylor of MicroStrategy and Anthony Scaramucci of SkyBridge Capital.

Wozniak and the YouTube case

In the summer of 2020, Steve Wozniak filed a lawsuit against YouTube for failing to take the necessary measures to prevent bitcoin giveaway scams. Before taking legal action, Apple’s co-founder repeatedly urged the platform to remove the scam videos.

It is worth noting that fake Bitcoin giveaways are a growing threat in the industry. Fraudsters stream live on YouTube pretending to be famous people or companies and offer to double the victims’ BTC funds if they send cryptocurrencies to their addresses. Fooled people aren’t really getting the money they promised.

Almost a year after taking legal action against YouTube, Steve Wozniak lost the case. The court found that the video platform is protected by federal law. The court also found that Wozniak’s arguments were not sufficient to breach the immunity provided for in section 230.

Steve Wozniak is not the only famous personality used in this type of scam. Fraudsters also used the image of, among others Elon Musk, Bill Gates and Kanye West.

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