Main navigation

Apple Co-Founder Steve Wozniak Claims That Governments Will Ban Crypto If It Becomes Too Big

News
Fri, 10/29/2021 - 18:08
article image
Alex Dovbnya
Apple co-founder Steve Wozniak says governments will “disallow” crypto if it reaches mainstream acceptance
Apple Co-Founder Steve Wozniak Claims That Governments Will Ban Crypto If It Becomes Too Big
Cover image via www.flickr.com
Read U.TODAY on
Google News

During an interview with Yahoo Finance, Apple co-founder Steve Wozniak opined that the government will never allow cryptocurrencies to be out of its control.

Hence, he predicts that crypto will be banned if it reaches widespread mainstream adoption:

Trouble is that the government will never allow it to be out of their control. If it got to the point that everything was being done with crypto and it didn’t pass through governments for observation and taxation and all that...governments would just disallow it. They wouldn’t give up their power. 

With these recent comments, Wozniak echoed Bridgewater Associates founder Ray Dalio, who predicted that Bitcoin was “very likely” to be outlawed if it were to become too big. 

He then went on to add that the government makes all of its taxes off inflation, describing it as an “artificial system”:

The government can just create new dollars and borrow, and borrow…

The famed engineer called Bitcoin “mathematically pure” since it cannot be modified by governments or private companies. In July, he said that the largest cryptocurrency was a “miracle.” 

Related
$181 Million Worth of Shiba Inu Tokens Mistakenly Appears in Coinbase Account of NASCAR Driver
 Wozniak would love to see crypto disrupting business and commerce, mentioning Jack Dorsey and his Bitcoin advocacy:

I love it when people like Jack Dorsey talk and how crypto should be the heart of our business dealings. 

With that being said, the Apple co-founder is not sure whether it’s right to have anonymous transactions.

The 71-year-old entrepreneur notes that crypto makes it hard to trace back “who’s doing what,” but he then adds that it is not impossible.  

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.