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Apple Co-Founder Steve Wozniak Invested in Bitcoin “Just for Fun”

· June 14, 2017 · 1:00 pm

Apple co-founder Steve Wozniak personally bought into Bitcoin at $700 to see what could be done with it. With the price now hovering around $3000 he says he’s way up on his investment.

Personal Exploratory Investment

Steve Wozniak, who left Apple in 1985 but remains very much invested in technology, revealed he bought BTC during an interview with CNBC on Monday:

Steve Wozniak invests in bitcoin

I remember getting interested in bitcoin some time ago. It was $70 for a bitcoin, man and I went online and you had to have a special bank account at a special bank and I couldn’t buy any bitcoin so I gave up. Eventually, I got some of them at the $700 stage and it went down to $350. I didn’t invest, I did it so I could play with bitcoin.

He went on to say that he was interested in the experience of using the coin in a real world environment such as what it was like to shop with it at places such as restaurants and hotels.

“It’s not that easy to do yet, but it’s getting there. I was just playing around trying out how to buy and sell stuff and I didn’t care I lost a ton of money, but now I’m way up,” Wozniak added.

In 2014 he tweeted this video of the tested.com team’s experiences with a Bitcoin ATM.

Bitcoin, A Secure Technology

When he was asked what he thought to blockchain technology and why he thinks it is important, he said that he likes the technology, admiring how every single transaction is noted and saved. He went on to speculate:

(Bitcoin has) A lot of good security and traceability and looking-back aspects to it … That’s probably why a lot of banks are interested in it.

Wozniak, an advocate of cyber security, spoke at the Business Rock Technology Summit in Manchester, England where he criticized US authorities over their legal pleas for access to Apple customers data:

There are politicians who do not have a clue as to what cyber security is all about trying to pass laws saying that Apple has to make a product less secure. Why? That’s a crime. That is just so horrible. I just cry! Why would Apple do it for such a weak case where the government were not going to get any valuable information at all – it’s impossible.

Bitcoinist previously spoke about Wozniak as an active Bitcoin business side investor in 2015.

Will we see more news from Wozniak regarding Bitcoin in the future? Let us know in the comments below.

Images courtesy of LinkedIn, AdobeStock

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Innovation Through Bitcoin: An Entrepreneur’s Heaven

Source: bitcoin

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Bitcoin is gaining global recognition for being a very disruptive force in the financial industry. Though the community is currently divided by the block size issue, the technology carries on and with it comes the ongoing opportunity to spawn innovation, create new applications for blockchain technology, and start new businesses. Entrepreneurs have been taking advantage of Bitcoin to develop new platforms and businesses that expand the utility of the blockchain and empower people with additional financial power.

Also read: Growing Demand for Global And Real-Time Payments To Boost Bitcoin Adoption

Innovation: Building With Bitcoin

Innovation comes from the desire to solve a problem in a new way. Innovation can be combining things or ideas in a way that hasn’t been done before, or it can simply be doing something better, cheaper and faster.

Blockchain technology has the ability to simplify payments, make them faster, and cheaper, therefore it is a primary protocol to base next generation financial platforms on. While new uses of the blockchain have been discovered, it’s still a very young market which has large potential for new players to innovate and apply the tech to industries which haven’t used the technology previously.

Because Bitcoin is technology-based, most new applications and businesses will be rather technical, requiring either extensive coding experience or startup money to hire a professional developer or team. These technological hurdles do stifle some innovation, but they should never stop a truly great idea. Distribution, encryption, financial control, and speed are all fundamental properties of Bitcoin which can be utilized towards accomplishing multiple tasks over a wide variety of applications.

The boost.vc incubator, founded by Tim Draper, has become a well-known Bitcoin incubator in Silicon Valley, accepting multiple startups into its program every year. In fact, there are incubators for tech-based projects all across the world that aim to help new entrepreneurs develop their business models, build their products and services, and begin the path to success. The disruptive nature of Bitcoin makes it a great protocol to integrate into the development of new ideas and platforms. Bitcoin has the potential to reduce costs, and increase speeds and security. Distributed assets and cloud computing will likely change drastically within the next decade as computing power continues to increase exponentially.

Entrepreneurship is all about solving problems with methods that improve or disrupt the current norm. If you can think of something that solves a problem in a way that improves on the norm and is an opportunity rather than an idea, you can innovate and start working on a business model. Entrepreneurship is all about identifying opportunities and inefficiencies that can be solved and applying a unique solution to them. While there will be resistance and friction in customer adoption, true innovation and disruption shines though. Bitcoin is a great platform to build and innovate with as it is still very young and the potential for new applications is immense.

Are you trying to innovate with Bitcoin? Let us know in the comments below! 

Images courtesy of Pixabay.

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Innovation Through Bitcoin: An Entrepreneur’s Heaven