Video: „Steve Wozniak: „What an Incredible Thing Bitcoin is“

By Cointelegraph

„Steve Wozniak talks Bitcoin and blockchain at Money20/20 conference in Amsterdam.“

„Blockchain got recognized because of Bitcoin. It was a fundamental technology for Bitcoin. What an incredible thing bitcoin is. It still here working after I don’t know how many years it’s been and it hasn’t even changed and it doesn’t it’s not owned or controlled by any company so we recognized we said blockchain now allows you to have no central control everything’s diversified and because everything has records that are duplicates of each other it’s totally trustable, there can’t be any mistake and records in there.Blockchain with things like Ethereum lead to api’s. Etherium can be used as a platformto develop other things in life such as real estate salesthey keep constant ledgers, the whole ledger history of things, you know thatmanner never matter for real estate at buy the matter for sales by memory forminerals that are put into products so if there are a lot of these astoundingthings that blockchain can do to change life. It’s kinda like in 2000 We looked at the internet and said: „look at all these things that could be done by the internet“, that would change our life someday and we’ll really be on to it these are the powers invested and then it went bust the only year that San Jose California ever lost population was 2003 but you know what look again now 2018 everything we do in our life is improved by the internet we have apps for everything so it eventually happens just that culture doesn’t want to change rapidly and I see blockchain as being the same sort of place right now might be a bubble but it’s on the right track. Bitcoin set such incredibly high standards. Bitcoin is there and nobody runs and owns it and get it worked so well and we think oh that would be the outcome of everything else Bitcoin is limited to how many Bitcoins will be produced. Unlike real currency which governments can justcreate as much more as they ever want to you know where we’re gettingdown to something that’s more realistic and defined by nature. Things defined by nature mean a lot more to me than things defined by human beings. I’m watching the examples that are being doneand put out there they kind of come up with „Oh new blockchain implementations“that don’t have necessarily the advantages that Bitcoin had. You can’tdo it and have something that has a business model. That’s an interestingpoint because you know currency that they all use dollars, euros they weremandated by central entities. Blockchain is completely decentralised. So if you look further ahead you know 20 years 30 or 50 years who do you would you say that would be you know paying each other for whatever services that could be rendered using a non centralised but still recorded an accountable mechanism as opposed to be dependent then of mechanisms that can be used for centrally controlled. – I love it when we come up with changes that might be so good to humanity and I follow it and I love reading an article not too long ago about Jack Dorsey, one of the founders of Twitter and Square, the FinTech company. And he was saying that oh in 10 years everything was going to be done bydigital currency, Bitcoin mainly.

„All Bitcoin activity is controlled by a network, meaning that each transaction is a large transaction with a large blockchain, with each block (and each block of transaction) taking an average of 10 minutes to process. This time depends on the size of the transaction, the size of the block, and the cost of running a full-nodes on the Bitcoin network.

Second, as with all payments on the Internet, there are many intermediaries who take part in the transaction (e.g., ‚middlemen‘) and their fees are added to the final price paid to the buyer, including mining, transaction fees, and fees charged by popular exchange providers such as Bitstamp and Mt. Gox. Although Bitfinex and Kraken offer a discount to buyers in the form of a liquidity swap, this is not a substitute for full liquidity and total security for the buyer.

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