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Bitcoin [BTC] has niche investors, Apple and Twitter CEOs invest!

Simran Alphonso



Bitcoin [BTC] has niche investors, Apple and Twitter CEOs invest!
Source: Pixabay

During an interview with CNBC, Apple co-founder, Steve Wozniak calls Bitcoin [BTC] ‘pure’. In addition to this, Steve also mentions that he is not a Bitcoin [BTC] investor but only bought Bitcoin [BTC] to experiment.

Steve Wozniak talks about how much he is intrigued with Bitcoin and mathematics. He also mentioned that he currently owns one Bitcoin and two Ether. He also constantly emphasizes on how similar Bitcoin is to the internet and expects Bitcoin to bring across the revolution internet has brought across.

The Apple Co-Founder talks about his strong belief in mathematics, purity, and science as defining the world. According to him, Bitcoin is mathematically defined as a circle and there’s a way that it’s distributed. He considers Bitcoin [BTC] pure as there’s no person or company running it despite which it continues to grow and survive and this to him is ‘something that is natural… and more important than human conventions.’

He also says that the main reason he sold his $700 BTC was due to the overwhelming price fluctuations in the market. He says:

“I never invested in Bitcoin, I was actually a little worried. Once, all of a sudden the price went up and I had a lot of money in Bitcoin, I said, wait a minute, I only bought to experiment.”

When asked whether Bitcoin will continue to dominate the market with the rise of other platforms like Ethereum and Ripple, he replied:

“We’ve seen a hundred sort of Bitcoin copies, some are faster, some are centralised control, some have other advantages, only Bitcoin is pure digital gold… I totally buy into that…How the math on Bitcoin that it was so correct that it still works.”

He also talks about Bitcoin [BTC]’s price in the future and says that because of Bitcoin’s regulated quantity, the value is down to the demand and supply, and Bitcoin saw a hike to $20000 for a period because ‘more and more people want it.’ He adds:

“So if the demand increases and becomes more and more popular for more things and people start using it, there is no supply; it’s limited. In terms of dollar, yes bitcoin will go up and up in time… things might be sloppy at first and things that change that much in life take a long time to change, they tend to go slowly. We had a crash in the internet age and I see that going on with a lot of blockchain things including Bitcoin itself right now.”

Steve further says that it’s going to take about 10-15 years for Blockchain to become the next widespread technology. He compares blockchain to the internet and says that just the way internet had promised to provide so many services online like bank reservations and airplane reservations, it faced a big crash as all the companies had competed. He continues:

“And here it is, in 2018 all of our life, everything we do with these third-party apps to this day, oh my gosh, this saved me, such a wonderful world. It was the world we talked about than but it just doesn’t happen instantly because people will have to have their mind set changed, culture and tradition and status quo and the way things are doesn’t change that rapidly/ instantly when it’s that huge.”

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HitBTC responds to allegations of insolvency, refutes claims made by Redditors




HitBTC responds to allegations of insolvency
Source: Unsplash

HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:

“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”

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