- Steve Wozniak appeared on Steve-O’s Wild Ride where he discussed cryptocurrencies being used to “rip people off” and their impact on the environment.
- Wozniak addresses bitcoin energy saying “it costs an amount of energy for what it’s all worth”.
- Bitcoin is different from other cryptocurrencies since “Bitcoin is safe because it’s the big elephant in the neighborhood”.
Apple co-founder Steve Wozniak recently appeared on a episode of Steve-O’s wild ride!in which Steve-O, leading actor in Jackass: the moviediscussed Bitcoin and its impact on the economy and the environment.
“Bitcoin, it takes a lot of energy to mine and keep all these cyber currencies,” Wozniak told Steve-O as the show host mentioned he received criticism from viewers of his show for having sold non-fungible tokens. , which some of his listeners considered a waste of energy.
“It costs an amount of energy for what it’s all worth,” Wozniak said. “The three E’s. Savings equals energy used equals emissions.
“The global economy equals the energy used (if you double one, you double the other), and that equals the amount of pollution we receive. Double the energy, you double the pollution,” Wozniak said.
Wozniak redirected the conversation by explaining that the concern over Bitcoin’s energy consumption is largely unfounded since everything has a cost and we as a society need to consider whether the cost is justified. To dismiss Bitcoin for energy consumption is to ignore the fact that everything we have uses energy, as Wozniak explained to Steve-O.
When asked if humanity will continue to use fiat currency or move towards cryptocurrency by co-host Steve-O, Wozniak replied “it’s hard to erase the things that the humans have learned”.
Wozniak went on to explain that a lot of the use cases that arise in the crypto space today seem to be heading towards scams. “I think it’s used a lot these days to scam people.”
Giving an example of what these scams can look like, Wozniak said, “I’m going to launch a crypto, I’ll hire an engineer who knows how to create it, and I’ll have a celebrity back it up.” Using Kim Kardashian as an example, he said he would do the Kim Coin. “And then the founders who launched it immediately pulled out a few million dollars.”
He went on to explain that this is a common story and sees many investors’ assets go to zero due to a lack of diligence or honesty on the part of the founders. Wozniak continued to say “the amount of people getting scammed in crypto and NFTs is just outrageous.”
Wozniak then separated Bitcoin from other cryptocurrencies saying “Bitcoin is safe because it’s the big elephant in the neighborhood.”
Earlier in the podcast, Wozniak explained that he was offered one of those scenarios where a company wants to create a celebrity-backed cryptocurrency. “We’re going to have a cryptocurrency on an exchange,” Wozniak said as he posed as the founders of EFFORCE — an electrical efficiency company — “they ended up calling it Wozx.”
In 2020, Wozniak made a maintenance with Yahoo Finance where he commented on his involvement with Wozx. “I have been quietly working with this group for a few years. I hold an engineering position, contributing to blockchain thinking and WOZX accessibility.
