[2018-02-28] Bill Gates: I Don't Think Bitcoin's Anonymity is a Good Thing

[Umkar]

This is a personal opinion of Bill Gates, if, of course, this is his opinion, and not imposed on him by others. The Crypto currency gives people a certain financial freedom, because our life is already almost completely controlled by the state authorities. This is exactly the kind of activity where it is very difficult for the state to control us. Therefore, in the near future in order to discredit the crypto currency, they will use corrupt or simply mistaken celebrities to create a false negative image of the crypto currency.

[theCoinMaestro]

“Right now crypto currencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and crypto currencies is super risky for those who go long.”[/i]

Read the full article https://www.forbes.com/sites/ktorpey/2018/02/27/bill-gates-i-dont-think-bitcoins-anonymity-is-a-good-thing/#425fe4471395

Remove crypto currency from the equation and people are still gonna buy Fentanyl and whichever drug they prefer. Third world countries with limited access to technologies such as cryptocurrencies have big drug problems despite the limitations. People want to escape reality that's why they turn to drugs. His money through his charitable foundation may have been used to improve the "state of the current reality" but it is in our nature as people to not really conform to what society wants us to follow (as how those in power sees it) and so it goes on and on.  Anonymity or not, bitcoin is just a tool. Everything depends on the wielder's hand.

[chocomartin]

You have to look at both sides of the coin here.

1. He has a point. In a way, btc is technically anonymous and its decentralized nature does make it easier for "bad guys" to go about their business and commit illegal transactions and the like.

2. Even without bitcoin, people with malicious intent or fraudulent activities will always find a way so btc isn't really the subject that should be put on the chopping block here but the people who commit the crimes.

[gabbie2010]

This statement made by Bill gate will have negative impact on the clamour for decentralized transactions, many countries will use this press release and takes more actions in regulating or  outright ban on bitcoin, the basic fact is that before bitcoin money laundering, fraudulent activities and drugs business has thrived on, InterPol should strength up their networks to arrest those that perpetuate those criminal activities.

[Qartersa]

Well you know, this is nothing new because media people would always magnify something that comes from influential people so they could create a trend thereby greatly benefiting from it. Sad to say even mainstream media have been trying to control people for centuries now. They create a sense of bias in favor of one against the other because it is through it that they earn, get the popularity they dreamt of, and all good things that follow along with it. Yes, you can say they get x-deal out of it. Sad, it is. These people could care less what the world would think against them for all they are after for is to create news that is shocking to the senses of the general public. What they fail to notice, somehow, is the fact that people nowadays are smarter and less gullible than the olden days. I wish we do our parts and conduct careful study before we even believe the write ups published in the internet.

[gemajai]

Bill Gates has pointed out a real concern (it is easy for crime dealers to transact their businesses). In cryptocurrency, the transfer of payment is not a problem but the transfer of merchandise remains to be a big concern. However, this argument ignores the fact that prostitution, drugs, weapons of destruction and other illegal stuff, have made a lot of bad guys rich through the use of dollars (not bitcoin). The lack of anonymity is not always a good thing.