Steve Wozniak, co-founder of Apple along with Steve Jobs, recently announced his participation in a crypto startup. During the interview, Mr. Wozniak (Woz) also spoke about cryptocurrencies and why he is excited about their prospects for the future.
Also read: Report: 15,000 Twitter Crypto Scam Giveaway Bots
Apple’s Wozniak is Very Excited About Cryptocurrencies and their Future
“I like to keep up with things,” Steve Wozniak, 68, famed computer engineer and co-founder of Apple explained at the Chainxchange blockchain convention recently in an interview. “Bitcoin caught my attention. It had so many unusual aspects for any technology I had ever heard of. Nobody is really known to be the creator. It doesn’t have any centralized [component]. It’s based on mathematics. There’s a certain number of Bitcoin that can ever exist.”
Woz is best known in computer history lore as the right hand man to business visionary Steve Jobs. The two founded Apple, presently the most valuable company in human history, in 1976. Mr. Jobs handled the entrepreneurial aspects such as financing, Woz was the brains, building personal computing revelations, ushering in an industry that literally changed everything.
“Mathematics to me is like nature,” Woz continued in his admiration for Bitcoin. “It’s much better than human beings… I trust those things of nature more than what man makes up. Man makes up currencies, controls them, issues new US dollars every year; Bitcoin was immune to that.”
Computer Revolutionary Describes Crypto Space as When the Internet Began
Woz helped Mr. Jobs build Apple in its critical infant years through 1981. He would finally leave the company in a more-or-less permanent way by 1985. He’s gone on to do a lot of philanthropic work, invented the Universal Remote, and has even hosted pop music shows. Of late he is seen more as an ambassador of computing’s earliest days.
It’s interesting to the current crop of builders, investors, and visionaries within the cryptocurrency space to get Woz’s perspective. It might be odd if he was less than enthusiastic about prospects in this regard, and, sure enough he didn’t disappoint convention goers.
“It’s so independent!” Woz announced excitedly about crypto. “It’s kind of like the internet when it was brand new… I was amazed at the technology behind it. People start up companies that do other things in life. I’ve encountered people working in real estate avenues, types of Uber systems, everything we’ve got in our life, especially involving transactions – retail sales, car sales, manufacturing of goods… working on Bitcoin applications… and they all have value. Every single one you hear about, to me, has value…. A few people can see the value, which reminds me very much of the early internet days.” He also discussed his involvement in a crypto investment group, Equi Capital — a first for Mr. Wozniak.
What do you think about Woz’ enthusiasm for crypto? Share your thoughts in the comments section below.
Images via Pixabay.
Be sure to check out the podcast, Blockchain 2025; latest episode here. Want to create your own secure cold storage paper wallet? Check our tools section.
Japan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
GMO Coin Profits Up 7.3-Fold
Japanese internet giant GMO published its second-quarter results for this fiscal year on Thursday. The report details the performances of the company’s cryptocurrency operations as well as changes in future plans.
In the second quarter, GMO’s overall crypto business generated a “revenue of JPY 2.6B [~US$23,481,811] in just a year since the launch,” the report reads. It also generated operating profits of 250 million yen (~$2,257,744) in the quarter compared to a loss of 730 million yen (~$6,592,612) the previous quarter.
For GMO Coin, the company’s crypto exchange operation, its “revenue increased 7.3-fold” in the second quarter compared to the previous. Its Q2 net sales were 1.42 billion yen (~$12,824,623) with operating profits of 550 million yen (~$4,967,283). In the first quarter, the subsidiary made a loss of 760 million yen (~$6,863,883).
Furthermore, GMO revealed that its crypto exchange’s “customer accounts are growing steadily,” with about 177,000 accounts opened in one year.
Mining Revenues Up 92%, Unexpected Loss Incurred
GMO’s crypto mining business generated 1.17 billion yen (~$10,568,436) in revenue in the second quarter, up 91.8% from the previous quarter. While “our hash rate is increasing as expected,” the company made an overall loss of 360 million yen (~$3,252,429).
Noting that the “loss was against our expectation,” the company proceeded to change its mining business policy. In July, GMO mined 568 BTC, a slight increase from the previous month of 528 BTC. However, the hash rate in July was 384 PH/s, unchanged from the previous month.
Citing external, “uncontrollable factors,” namely the low price of bitcoin and the increasing total hash rate, GMO detailed a change of priorities.
Previously, the company’s top priority was to mine cryptocurrencies in-house, then to offer cloud mining services to the public before selling mining machines. The new strategy puts selling the machines first, then mining in-house before offering their cloud mining services. The company will also “secure a more inexpensive power supply” to lower electricity costs for mining.
GMO hopes that the change in strategy will lead to more control over their investments and an earlier payback. Meanwhile, the company still plans to ship GMO miners B2 and B3 at the end of October.
What do you think of GMO’s new priorities and performances of the crypto exchange and mining operations? Let us know in the comments section below.
Images courtesy of Shutterstock and GMO Internet.
Need to calculate your bitcoin holdings? Check our tools section.
There are numerous people and groups in the crypto industry that want a crypto ETF. The Gemini exchange is one, and BitWise is another. Over the weekend, the CEO of Fatfish Internet Group joined the conversation. But is there a crypto ETF coming soon, or is this false hope? After all, the SEC has a different opinion.
Crypto ETF Coming Soon?
On Sunday, Kin-Wai Lau, CEO of Fatfish Internet, a global tech venture investment firm, said that a Bitcoin ETF is on the horizon, adding that global markets will soon be “ready to accept” a BTC …
Read The Full Article On CryptoCurrencyNews.com
Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.
GMO Internet, a Japanese digital services company, has just released a new web bank that will soon use block chains to facilitate payment
It is assumed that a hacker group is collecting passwords by hacking computers owned by China's computer maintenance companies and Internet cafes.
The Bank of International Settlements accepted more ideas about the decentralization ledger but harshly considered the idea of cryptocurrencies
China Central Television launched an hour-long program on Sunday to focus on informing the public about the concept, potential and risk of block chains.
Parity Technologies and Web3 Foundation will soon begin to demonstrate the concept of Polkadot, a block-chain interoperability protocol.
The txTenna partnership with Samourai Wallet offers bit coin trading via mesh network