Bitcoin is being taken as a cryptocurrency that is either pleasant for some to be adopted into new technological manifestations such as making it a payment option or comparing it to the gold as its digital version. But for some, it is an overridden concept and finds no practical use in the financial or the literal world. Steve Wozniakniak, the co-founder of Apple, has a unique stance when it comes to Bitcoin as he duly accepts the potential the pioneer cryptocurrency has, and instead of comparing it to gold, he says that it is a digital gold in itself and a mathematical miracle.
Bitcoin is a Digital Gold, according to Steve Wozniakniak
This is definitely a compliment for Bitcoin, and no one has gone as far as Steve to call Bitcoin a mathematical miracle, but at the same time, he manifests the worry that he finds with Bitcoin saying it the only digital gold as if there is no one else and at present only Bitcoin is compared to physical gold mainly due to its market capitalization and the per token value that it has. Wouldn’t it be impractical to term gold with Bitcoin as it has a physical existence whereas Bitcoin is only digital? To this, Wozniak answers that the future belongs to digital implementation and marvels, and for that, Bitcoin has a place in it, but the physical gold might not.
According to Wozniak, there are multiple limitations to the framework of the physical gold, such as the intensive labor, machinery, and the time required to find it dispersed on earth and then digging it out, refining it for it to reach its final form. Wozniak says that you have to look for gold, refine it and process it through multiple channels, but for Bitcoin, it is right there; all you have to do is to buy it or invest in it. Although Steve has also cleared that he doesn’t trade in Bitcoin and is not an avid user, he knows that the digital future belongs to Bitcoin, and many new digital implementations will be using the same technology as Bitcoin.