Bill gates says cryptocurrency is bad

[South Park]

cryptocurrency is bad if worn by bad people like terrorists and corruptors,
so what Bill Gates says is a vision from the one side only,
the system and concept offered by cryptocurrency is very good I think.

But that prediction does not have any kind of merit, criminals can use regular currency for those things and in fact they are doing it if at some point those groups of people begin to use bitcoin for their acts it is not because bitcoin is designed to help those people it is simply that more people will use bitcoin and the more people that are using bitcoin the bigger the chances the bad guys do it as well.

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[Denlv]

Hello!In some way Bill gates says truth about the crypto currency use in non legal things like buying weapons,drugs,wash dirty money utc..But if we look on crypto from another side how many peoples crypto help with better life someone cant get even job in country now they can work with crypto and live like normal peoples.Blockchain is the future for more things we can trust now..

[Leocrypto da Vinci]

It seems to me an absolutely idiotic comment.
Cash is also anonymous, and can be used to buy arms and drugs: do we have to ban that too?

In his own reddit AskMeEverything page, https://www.reddit.com/r/IAmA/comments/80ow6w/im_bill_gates_cochair_of_the_bill_melinda_gates/

He answers about cryptocurrency stating
“The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. 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.”

He isn't wrong in his sense, if the cryptocurrency is to have a future, they should be able to create an environment of trust between themselves and the authorities.

[senne]

When did that happen as the last time I hear this news was Bitcoin is a good technology told by Bill gates and now he is saying its bad. I think they should clearly think what they think about this system but whatever they think might just become a Ted talk nothing else as people have more faith in this crypto rather than their changing views.

[thepo1m]

I think what he means is that what is holding crypto back is the anonymousity and Tax issue, I think people are trying to understand now that we need government to clarify the issue surrounding tax in particular, the space is growing and they can't neglect this size of money flowing through the space

[zemb]

I think I differ totally from his opinion because cryptocurrency is the best thing that happened to humanity in the most recent time. Though there had been some few bad issues here and there, the benefits of cryptocurrency outweigh the disadvantages.

[Cryptomagnus]

Everyone is free to express their opinion, but it seems to me that he says a nonsense. Or he is simply taking time because microsoft wants to enter the market with its own currency.

[Harley Quinn]

There is nothing he can change by saying this. Cryptocurrency is becoming a bigger part of our reality each day and people want it. Governments have been hiding a lot and manipulating people a lot for years. Crypto is all about people taking power into their own hands for a change. That is not for the authorities to control.

[Andrej Peiboski]

If Bill Gates says such a thing, he certainly has hidden reasons, since as it is, it makes no sense.
If the problem of bitcoin is the fact that it is anonymous, then even cash is, and in any case you can trade and exchange in many different ways.

[South Park]

It seems to me an absolutely idiotic comment.
Cash is also anonymous, and can be used to buy arms and drugs: do we have to ban that too?

In his own reddit AskMeEverything page, https://www.reddit.com/r/IAmA/comments/80ow6w/im_bill_gates_cochair_of_the_bill_melinda_gates/

He answers about cryptocurrency stating
“The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. 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.”

He isn't wrong in his sense, if the cryptocurrency is to have a future, they should be able to create an environment of trust between themselves and the authorities.

I know that is a dumb comment but believe it or not there are many people and especially governments that want to ban cash precisely because it allows you to make anonymous transactions this is just part of the agenda of trying to regulate our lives to the point that we have no privacy anymore and this is something that cryptocurrencies and encryption are trying to fight against.

[MUGOmugo]

I think what he means is that what is holding crypto back is the anonymousity and Tax issue, I think people are trying to understand now that we need government to clarify the issue surrounding tax in particular, the space is growing and they can't neglect this size of money flowing through the space

Yes, behind those things bill gates is just saying his opinion or his thoughts about this matter but the mean issue there is a tax issue because once the gov. Didn't know about it then probably they dont get any money in return.

[yinoye]

The negative aspects mentioned would still happen even without cryptos though may be less.  But he is kinda right on icos and coins. It's investors speculations that's giving many of them value for now so can be risky.

[the1arty]

In his own reddit AskMeEverything page, https://www.reddit.com/r/IAmA/comments/80ow6w/im_bill_gates_cochair_of_the_bill_melinda_gates/

He answers about cryptocurrency stating
“The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. 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.”

He isn't wrong in his sense, if the cryptocurrency is to have a future, they should be able to create an environment of trust between themselves and the authorities.

All big guys says crypto is bad, look what J.Dimond at Jp Morgan said and they bought basically 2 exchanges. By the way Google is developing 2 own blockchains..

[SpringfieldM1A]

He is right from his point of view. But if governments embraced cryptocurrencies rather than fighting against it, it would be better for them and everyone. First of all, I don't know if you met with a shady drug dealer recently but those guys (mostly) aren't that into technology and if you don't know what you're doing, you really aren't hidden, your IP and everything can be found using the core. NSA did some research and learned who Satoshi is/are, as he/them didn't break any laws and have a will to stay hidden, they have no reason nor right to say who but they know. Cryptocurrencies give much more tracking ability if they embrace and regulate it but somehow they can't see this...

[rommelo24]

I think bill gates are also human beings who have other thoughts. well, everyone has a different mind, and has a principle. maybe for bill gates, cryptocurrency is bad. but for me it's pretty good, so I'll keep using it, even though he does not use it.

Bill Gates, although very rich but still he is human. What he says is just his opinion and not the reference of how cryptocurrency looks. I admit that he can manipulate the price if he wants to because he got a tons of resources to do so.

[Nagricoin]

I can say that the Bill Gates is Bad!

[pelipurlara]

Why does it matters so much what he thinks? Hes just a guy who is regretting not getting in early into bitcoin despite knowing about it. And now just trying to release his anger by talking shit about bitcoin. Also since he doesn't has any stake in the crypto world he is disappointed.

Cryptocurrency is the best thing that has happened to mankind recently. It's the technology of that time. It's the world's smart economy. The advantages of cryptocurrency are extraordinary, and Bill Gates has a legitimate right to express his opinion on Cryptocurrency. With a new crypto economy in which more billionaires are made every day.

[Martinkuhn]

I think Bill Gates is right, from his perspective and position as an influential person in the established society.

But I believe that there is a need for cryptocurrencies to be anonymous as well as to be non-anonymous (transparent).

There will be a need for cryptos to have full information about the users and their value transfer and wealth but there are also need for anonymous coins. We need a world where people can still remain private if they choose to. It should not be a world where we have to share everything about ourselves..

Watch the movie "The Circle"
https://en.wikipedia.org/wiki/The_Circle_(2017_film)

Then you decide whether we ought to be 100% open or should we not have some privacy..

Yes it does leads to the possibility of bad actors but there are other methods that can be implemented for that..

[macchiato]

Bill Gates has a point though. The crypto world gives the criminals the opportunity to spread criminality without being traced. This is the downside of cryptocurrency. Because of the freedom people are given on making anonymous transactions, crimes are also anonymously done.

[shadow123]

Everyone has their own opinion. But I think it's time to find a VAT system for the cryptocurrency and should be added a legal background. That is the best way except banning the crypto world. Because nowadays more peoples find money from crypto. If someone says its bad there are so many scammers, it's also not correct. The reason is everything has a probability. Anyone do the more secure ways, it will not get attack from scammers easily.