Bill gates says cryptocurrency is bad

[dewi91]

Bill Gates is wrong. Money laundering, drug dealing and tax evasion existed long before cryptocurrencies and I doubt that even now that Crypto even has a 1% market share of those activities. Right now the main use of cryptocurrency is in making it easy for people to crowdfund new businesses and that is a very good thing.

I agree with you. That's not fair if someone only see the bad thing from bitcoin whereas bitcoin have many advantages. Without bitcoin people still can do money loundering or drug dealing. So Bitcoin not relation to it.

[KryptoKnight78]

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.

Musk said something similar, when asked what his cypto holdings looked like he said he had none, except for .25 BTC he was given many years ago. So not everybody is necessarily a believer but these are also some of the richest people in the world so they don't really have to be.

[spiderm4n15]

Mr Gates has commented on Bitcoin several times throughout its existence and in the past he called it a “techno tour de force”.

But during an “ask me anything” discussion on the social media platform Reddit, the tycoon blasted cryptocurrencies for causing “direct deaths” as a result of the illicit drug industry.

He said: “The main feature of cryptocurrencies is their anonymity.

“I don't think this is a good thing.

[digaran]

crypto has reduced a lot of unemployment in my country.

Do you mean the shitposters?

Seems like Bill Gates is a bit out of touch with the use case of most coins and tokens. In a way he's right that there's not much legitimate use at the moment besides hoping for price increase. But soon the tokens will begin to play a role in many people's life and we will see broad adoption.

Use case of tokens, what would be the role of tokens in people's lives?

if you think you are confident enough with this then go for it

Go for what?

From my point of view, altcoins nowadays are used to create fortunes out of mere speculation and to foster crime activity due to their anonimity (which is what Mr. Gates states). It all depends on the use you give to altcoins. Plus, fiat currencies are way more used to buy drugs and other sources of crime activity than altcoins.

Mr Gates is nothing without the centralized currencies, they have forced our hands into using decentralized currencies.

Musk said something similar, when asked what his cypto holdings looked like he said he had none, except for .25 BTC he was given many years ago. So not everybody is necessarily a believer but these are also some of the richest people in the world so they don't really have to be.

That is a lie, worse than me lying about being a reputable merit source, you shouldn't admit to having Bitcoins, nobody should.

[photo123]

Everyone says Windows sucks!

haha you made my day

[cizatext]

In as much as we can point out some negative use and abuse of bitcoin e.g using bitcoin to buy drugvor laundering money out of the country, Bill gate should also know that as Microsoft is an investment to him so is bitcoin an investment to us all what you do with your found is left for you either you use it to buy drugs or pay for your bills all this is left for the individual to decide.

[amitkumratra]

Each person has their own ideas about crypto currencies. Mr Bill Gates said is just a one-way opinion about crypto currency. But what he said is not due to crypto, rather it has been running from the last several years.
Then why he blame crypto for all this?
According to me, There is no better way to earn money without investing any money.
Because the other aspect of the crypto world is very simple and good. Where people makes money by working for companies. And fulfill all the dreams of themselves.

[Junglee]

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.

Bill Gate, the world's richest man says Bitcoin and ICO is not good! I can understand and agree the views of the Gate! Simply look at the bad eyes of the crypto currency, which is money can not be investigated and can be used for a lot of illegal activities such as MAIN TUESDAY !!! But Gate does not say Crypto currency is bad? Because it simply wants the world of integrated development to need a unit of payment for the whole world and that is the bitcoin at the moment! So I think Bill Gate's idea here is how we can improve the blockchain, bitcoin and crypto currency into a suitable currency for many factors and can improve the problem of it in exchange for it. Dhamma!

[welliamy]

Only one can say cryptocurrency is not bad,he is much more helpfull

[haidangtp]

I have heard so many speeches. It does not change the belief of investors. Without him, the cryptocurrency world is still active.

[kasbon]

This could be her strategy is to drop the cryptocurrency so that later can be bought at a bargain price. Yes maybe a lot of people have different opinions, we appreciate only his opinion.

[BTCMILLIONAIRE]

Not the first time he has been wrong.

[0t3p0t]

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.

This is how decentralized blockchain technology will be abused by lawless elements due to it's privacy. It can be so hard for the government to track these felons. These bastards makes cryptocurrency a bad name in the eye of the people and those who are legitimate or has legal crypto related job was among of the affected ones because of criminals. When cryptocurrencies comes into like regulations from central banks and the government the crime rate may decrease due to implementation of KYC/AML to local exchanges just like here in my country. About tax evasion, I don't think we can hide from it because everytime we made a convertion of crypto into fiat there will be an inclusion of tax of course.

[BTCMILLIONAIRE]

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.

This is how decentralized blockchain technology will be abused by lawless elements due to it's privacy. It can be so hard for the government to track these felons. These bastards makes cryptocurrency a bad name in the eye of the people and those who are legitimate or has legal crypto related job was among of the affected ones because of criminals. When cryptocurrencies comes into like regulations from central banks and the government the crime rate may decrease due to implementation of KYC/AML to local exchanges just like here in my country. About tax evasion, I don't think we can hide from it because everytime we made a convertion of crypto into fiat there will be an inclusion of tax of course.

The real criminals are central banks and governments. Taxation is a form of armed robbery and hence a felony.

[akihiro101117]

Bill gates had his own opinion and that's the kind opinion he have. Yes the cryptocurrency is making a huge impact to the community, but it doesn't mean that is bad also for us. We people know already what is right and wrong. Its up to you if you continue living on a crypto world.

I agreed. We are all unique individuals.Each of us has a different opinion about what is good or bad. It's up to you if you will continue to believe that crypto is good.

[roburst]

He has a point saying this, but people always look at the downside of cryptocurrency. The media waits for those moments, then try to manipulate the thoughts of citizen. That's why we only see the bad news for cryptocurrency.

[diva.man]

Bitcoin did threaten the hegemony of the dollar, and the elites of the new world order came out to criticize it.

But in 2014, Bill Gates once praised BTC, saying the BTC deal was cheap and cost savings!

[elpiji]

why bill gates say like that because he has become the richest man without the need to join cryptocurrency and has collected money with so much that he did not trust cryptocurrency

[feelideb]

All the big short that have enjoyed centralized system would not want cryptocurrency to succeed because of it nature. Bill Gate was once quoted to be in support of bitcoin and blockchain. How come he is blowing cold again!

[Bitcoincole]

Bitcoin did threaten the hegemony of the dollar, and the elites of the new world order came out to criticize it.

But in 2014, Bill Gates once praised BTC, saying the BTC deal was cheap and cost savings!

Well, mostly businessman like Bill Gates do not recommend or support to used or join in cryptocurrency because it can destroyed to other establishment that is the best answers to that because Bill was a man that abide's the law that makes the government can collect taxation in business and mant others.