Bitcoin is "incredible" but Blockchain is a "bubble": Steve Wozniak

One of the largest bitcoin bulls calls it: the blockchain is a bubble, at the height of the Internet bubble that occurred at the turn of the millennium.

Steve Wozniak, who co-founded what is today the largest company in the world, said he saw parallels between the development of the Internet - and the hype cycle that accompanied it - and the fledgling blockchain industry.

"It was a bubble, and I think of the blockchain," Wozniak told reporters on Tuesday at the NEX conference in New York, according to a CNBC report.

Wozniak, who recently said he hoped Bitcoin will become the world's currency, told the conference that he was not afraid to disrupt a multitude of industries - social networks, for example - but that many startups blockchain will inevitably surpass promise and sub-deliver.

"If you look now, you say that everything that happened on the Internet, we had it, it just took time," he said. "It does not change in a day, a lot of blockchain ideas that are really good coming out early, they can get burned by not being ready to be stable in the long run."

Wozniak, as reported by CCN, is particularly focused on Bitcoin and Ethereum - the first as digital gold, the latter as a robust platform that could be the "next Apple".
"Bitcoin is mathematically defined, there is a certain amount of bitcoin, there is a way to distribute ... and it is pure and there is no human race, there is no company it grows, it grows ... and it survives. " . "For me, something that is natural and natural is more important than all our human conventions."

The "Woz" invested very early in both assets, accumulating significant profits in last year's bull race. However, he sold most of his cryptocurrency holdings months ago. At the time, he said it was because he felt too focused on the price, but in that speech he gave a slightly different explanation.

"All of a sudden, he was down, then up in the sky," he said. "I was scared, and I sold everything except a bitcoin."

But even after selling his pieces (and losing some to crooks), Wozniak argues that bitcoin is "just amazing," partly because, unlike many copied, it is "totally decentralized."