Tag Archives: Steve Wozniak

Steve Wozniak ‘Loses 7 BTC’ In Unlikely Credit Card Fraud

The tech veteran was speaking at the Global Business Summit 2018 in New Delhi when India Economic Times reported him admitting to the audience he had lost the funds – seven bitcoins to be exact – now worth about $75,000. “I had seven bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy!” the publication quotes him as saying. Despite multiple publications subsequently picking up on the story, Wozniak has yet to confirm more information about the theft, and the unusual circumstances surrounding the loss. The trade appeared to have closed with Wozniak sending the bitcoins before receiving the fiat funds – something p2p cryptocurrency trading platforms such as Localbitcoins firmly warn users against doing. It remains unclear whether Localbitcoins or other major platform was used for the trade, and whether an escrow feature – that would have prevented the possibility of credit card fraud – was available. Nonetheless, the weak link allowing the fraud to be successful appears to lie either in the susceptibility of credit card data to fraud or human error in sending bitcoins without confirmation of funds receipt.

Reference: https://cointelegraph.com/news/steve-wozniak-loses-7-btc-in-unlikely-credit-card-fraud

Steve Wozniak: Bitcoin is better than gold and USD

At the sidelines of a conference on the future of payments and currencies, Wozniak, a mathematician by training, explained why he thought Bitcoin was better than the US Dollar and Gold. Quipping that unlike Gold or the US Dollar, Bitcoin has a predictable finite supply and is tamper proof, Wozniak claimed Gold’s value will be diluted once more efficient methods of mining are invented. He also remarked that the US Dollar is ‘kind of phony’ due to the centralised control over creation and use, lending itself to abuse.

Adding that he admired Bitcoin from the very start, Wozniak said he wasn’t interested in the financial part of it but rather believed in the promise Bitcoin held as a currency. The tech geek also shared how he found it hard to buy Bitcoins in the early days after its launch. Comparing Bitcoin to a house, Wozniak said that no matter how much the price went up or the government taxed it, the house would still exist as a real stable asset, undiluted and worth what it’s made of. In the same way, he said, Bitcoin is limited in amount and nobody could ever dilute the supply, making it valuable as a stable asset.

Reference: https://blog.unocoin.com/steve-wozniak-bitcoin-is-better-than-gold-and-usd-4fdbfcb6e5bb