“Steve Wozniak has an inventive mind, so it comes as no surprise that he’s a fan of Bitcoin,” Sujata Reddy reports for The Economic Times. “The Apple cofounder spoke at the ET GBS about what made him a fan of the cryptocurrency. ‘Bitcoins to me was a currency that was not manipulated by the governments. It is mathematical, it is pure, it can’t be altered,’ he said.”
“Unfortunately, all of this doesn’t safeguard Bitcoin from fraud,” Reddy reports. “The American inventor and philanthropist told a full house at the summit how his own Bitcoins got stolen. ‘The blockchain identifies who has bitcoins… that doesn’t mean there can’t be fraud though. 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! And it was from a stolen credit card number so you can never get it back.'”
“At today’s price of around $10,200 a bitcoin, Wozniak’s stolen cryptocurrency are worth roughly $71,400,” Evelyn Cheng reports for CNBC. “The American inventor remains a supporter of the cryptocurrency, which he initially bought at $700 each as an experiment, according to The Times.”
Cheng reports, “Wozniak is estimated to be worth north of $100 million.”
Read more in the full article here.
MacDailyNews Take: Woz can take the hit, but it’s a good lesson: Be on the lookout for fraud!
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]