What is the meaning of Steve Wozniak's remark that "bit coins are better than gold and the US dollar"?

Steve Wozniak, co-founder of Apple Computer and having Apple's employee ID number 1, said he highly praised bit coins, saying "Bitcoin is better than gold or US dollars" It is known that there is. However, "Wonderfulness of bit coin" for Mr. Wozniak is not the investment target value, it seems to be in the technical thought and mathematical beauty of bit coin.

Steve Wozniak «Bitcoins are better than gold and dollars» | Startlr Tech Blog

Steve Wozniak: Bitcoin is better than gold and USD - Unocoin

conference"Money 20/20"The virtual currency bit coin is superior to gold and the US dollar" in an interview held in the interior, "said Wozniak, for the reason," Unlike gold and the US dollar, there is a predictable finite supply There is "being something" and "not being altered". Gold stated that the value could be diluted when the mining technology becomes more efficient, and that the value of the dollar is like "petit" due to the control of the US government and its value has been abandoned I will. For Mr. Wozniak who is an innovative technician, there are no uncertain factors and mathematically unique bit coins are more reliable enough.

Mr. Wozniak has declared that he has high valued bit coins, but he said he was not interested at all as investment targets such as "market price of bit coin". Even if the house price soared to abnormal or the government heavily taxed, even though the house itself as the representative property is compared as compared with the "home" which is the representative property, the bit In addition to saying that coin does not exist in the first place and bit coin is stable in value as asset in that no one can intentionally operate supply quantity, adding that the property as property is fundamentally different .

Mr. Wozniak is highly appreciated for bit coins because it has value as a technical idea, such as innovation of block chain, which is a technical idea supporting the system. The value of a bit coin in this context is a function as "money" to exchange the value of goods and goods, using speculative buying and selling using the fluctuation of the market price or digging out new coins by mining It is not to raise profits.

Likewise, there are assertions that many people are misjudging the value of bit coins, which attract attention only to soaring and plummeting transaction prices. Journalist'sRobert X. KringlyMr. points out the lack of understanding of bit coins, "The mad troes will not end until everyone understands that the bit coin is not a currency."

I, Cringely Prediction # 4 - Bitcoin stays crazy until traders learn it is not a currency - I, Cringely

Mr. Clingley points out that the value of itself is not backed by existing credit, such as gold or US dollar, as to why the bit coin has high volatility. Therefore, essentially virtual currency is said to be worthless. However, Mr. Clingley thinks that virtual currency is worth not being valued for investment because it is not worth based on credit, but at the same time it is worth being a best tool in trading.

Mr. Klingley explains the function as a trade tool which is the intrinsic value of bit coin in the case of a certain asset in Russia as an example. Suppose a certain Russian wealth has heard the rumor that "President Putin has let go of all the rubles", so try to change all the rubles you own into US dollars. Russian rich people can do trading even in private jets to escape from Moscow, if you replace all the rubles on hand with bit coins and change bit coins to US dollars. In this case, the bit coin functions as a trading tool for exchanging the value of ruble and US dollar.

As Russian rich people do not feel like holding bit coins for a short time, we will not pay much attention to the market price. However, for those who speculatively trade bit coins, large buying seems to be a rise in the value of bit coins and mass selling appears to be a drop in the value of bit coins. As a matter of fact, Mr. Clingree believes that the need for bit coins as financial instruments will not increase urgently depending on the situation, so the price will fall.

It is said that the spot price of bit coin repeats ascending and descending good or bad. It is inevitable that the price comes in contact with the upper and lower widths of a certain range in the bit coin treated as a trading tool, and Mr. Clingree seems to think that it is normal. In 2018 Mr. Clingree expects that many people will begin to notice the original value of bit coins.

in Note,   Software, Posted by darkhorse_log