It seems that for Steve Wozniak, Ethereum (ETH) could outlive the current hype experienced by cryptocurrencies. He said that the current buzz around virtual currencies could be a signal that the market is operating in a bubble.
Steve Wozniak Believes Ethereum Will Survive the Hype
During the NEX technology conference held in New York, Mr. Wozniak said that the hype around blockchain seems to be similar to the one of the dot-com times. After several years growing, in the year 2000 it crashed.
Even when there is an important hype in the market, most of the innovative companies will survive and keep growing even further. One of them is Ethereum, which allows individuals and developers to create dApps and send and receive payments using Ether.
As reported by CNBC, Wozniak said that Ethereum has the potential to resist the bubble because of its use case and ability for programmers to build their own projects on top of it.
About that, Wozniak said:
“If you look now you say all that internet stuff happened, we got it, it just took a while. It doesn’t change in a day a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”
Wozniak has been giving some comments about virtual currencies before, this is not the first time. He said that he hopes Bitcoin will become a global currency. This is very similar to what Jack Dorsey, Twiter CEO said about the famous virtual currency.
At the same time, Wozniak explained that cryptocurrencies and blockchain will release full potential in ten years. And this is in line with what happened during the dot-com bubble. Several companies in the 90s appeared, were funded, and most of them disappeared. Only the most important ones started to dominate the market 10 years later, like Google, Yahoo, and many others.
In the past, Mr. Wozniak confessed that he has been stolen 7 bitcoins because he sold them to another person who paid with credit card and cancelled the payment.