“I had 7 seven bitcoins stolen from me through fraud” – Steve Wozniak

“I had 7 seven bitcoins stolen from me through fraud” – Steve Wozniak

bitcoin Blockchain News
February 27, 2018 by IBC Staff
Steve Wozniak on Bitcoin

Apple co-founder, American inventor Steve Wozniak spoke about how he hopes blockchain applications make their presence felt all over the world and soon. Speaking at a conference in Delhi, he said, “So what is blockchain? It is a technology that can keep track of everything … you know healthcare and purchasing systems and where raw materials come from… just track everything in the world and just hope that someday we can say, ‘I’m going to give you my data and you have to pay me this much if you ever use it.’”

Stressing on the benefits of the blockchain, Wozniak added, “It is like one central company that runs the thing. Once you get down there and use it like a platform — like computers are a platform — you can build a lot of applications on that platform. A theorem is designed like a whole system of code that you can adapt to your applications. So I’m finding it has more value for the future than even bitcoins. I’m hoping for the best. I think we’re still going very slow. Right now, you don’t see many blockchain applications really taking off. Even bitcoin is not necessarily taking off, other than we’re all aware of it. We’re not getting some real critical use out of it.”

Wozniak then went on to explain his own experience with bitcoins. Revealing that he didn’t buy bitcoins to invest in them but as an experiment, Wozniak said, “I did not invest in bitcoins. I don’t have any stocks in bitcoins. I had a bunch of bitcoins. I had it so that I could someday travel and not use credit cards and wallets or cash. I could do it all on bitcoins. I studied which restaurants, hotels and facilities accepted bitcoins. It’s Very difficult to do still. I also wanted to buy things online and trade bitcoin online. I managed to do it a lot of times. I did it to experiment. Then all of a sudden, I had a small fortune. I sold them all because I didn’t want to watch the price everyday… today it’s 20,000, now it’s 18,000!I didn’t want to watch it anymore so I sold all my bitcoins, except one. It was enough to experiment.”

At one point, the tech genius even had seven precious bitcoins stolen from him. Narrating the incident Wozniak said, “Now, Bitcoins to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can’t be altered. The blockchain identifies who has what bitcoins… every transaction that’s ever been done. It doesn’t mean there can’t be fraud though. I had 7 seven bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they cancelled the credit card payment. That easy.. and it was from a stolen credit card number so you can never get it back.”

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