Bill gates says cryptocurrency is bad

[joelembiid]

Yes, definitely right about the risk. Can be reset. Crypto is risky. But I find it's worth the risk.

[dyline]

He in no way criticised the technology that makes up the backbone of cryptocurrency in his statement but pointed out the way humans may abuse the opportunities it creates. The Gates Foundation released software in October in cooperation with Ripple to create banking service infrastructure to developing countries.

[elisabetheva]

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.

everyone has a view of each.
some say crypto is bad and some are good too.
if someone has good experience in crypto, then surely the person will say that crypto is good. then recommend it to others.
so far the view of crypto is still good. I do not know of the person who said the crypto was bad from where it came from. and surely that person has his own reasons.

strongly agree with your opinion, because everyone will have many perceptions and views to respond to that thing.
the beneficiaries will be different from the disadvantaged opinions, the natural ones.

[BTCMILLIONAIRE]

He in no way criticised the technology that makes up the backbone of cryptocurrency in his statement but pointed out the way humans may abuse the opportunities it creates. The Gates Foundation released software in October in cooperation with Ripple to create banking service infrastructure to developing countries.

People are going to use this as "bullish" news for Ripple, when in reality banks don't care about the currency but only about the blockchain for internal use.

[munareal]

Every thing is life has its pros and cons. If they say crypto currency is bad because it is used by criminal, money laundry and for drugs they are not wrong in saying that for some use it for that purpose . Fiat currencies are used by some people for the same bad things .

[dlastdon]

I think bill gates should concentrate on integrating cypto-currency with windows and watch himself catapult to half a trillion dollar man,all this vices he is talking about has been existing before cypto rise.

[dasha_buka]

This is still not to stop the technology of blockchain and cryptocurrency in General-this is our future . I think this will change the world for the better , if what some evil people will use this not for the good of the people

[konco kereng]

yes for now it is crypto currency is very bad from the price dropped dramatically, and for the future bill gates will surely admit that the currency crypto very profitable for everyone who joined him.

[bitctrimor1]

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.

Good read. I think his point emanates from the fact that cryptocurrencies are not your usual or conventional assets that he is more comfortable to lodge money on. Remember that Bill Gates made money from product development, and since many coins in the market, or projects per se, originate from businesses that do not even have a new product or concept to show for it. Also, since many of the cryptocurrency-related businesses are out of the norm, traditional bussinessmen like him would find it unappealing to promote.

[CONTRACT]

Bill considered the possibility of using the crypto currency only on the bad side, almost the same can be said about ordinary cash, I think over time with a massive adoption of the credit will be able to bring a lot of good for people.

[mapanlah]

I think the opinion of bill gates is true because I also read an article that is mitalix creator etherium token currency crypto always approach zero every time. and I think that opinion is true as well.

[duchaitp]

I do not care what he says. I only know the huge cryptocurrency market and it will grow even further.

[Semaj123]

Well, from my point of view everything has its own perspective and I think Bill Gates was just trying to define the bad side of crypto. But to think fiat can also be used in a bad way because we can't control the people on how the way thet used their assets. Moreover, to see the bright side of crypto, it really helps a lot especially investing it in a long and short term.

[Spiero7]

I think this is a propaganda to tarnish this guy's image. Has this been confirmed? Because I believe strongly that Bill Gates should be one of the largest user of Crypto looking at the dimension of his company's working system. Then if this is happening, why would he say Cryptos is bad, and if definitely this is true, He has his freedom of expression, I just wish him all the very best

[Julia1992]

everyone has their own opinion, and arguing about something is useless!
all are right in their own way. and Bill Gates is no exception! he lives well, without crypto currency. although I doubt that he is not engaged in crypto!)))

[arkaasay]

I think it depends on each point of view. some say krypto is good and some say that krypto is bad.
Bill Gates's opinion makes sense, if they only see from the bad side of crypto, but we also have to consider the positive side of crypto.

[NutellaboY]

I think this is a propaganda to tarnish this guy's image. Has this been confirmed? Because I believe strongly that Bill Gates should be one of the largest user of Crypto looking at the dimension of his company's working system. Then if this is happening, why would he say Cryptos is bad, and if definitely this is true, He has his freedom of expression, I just wish him all the very best

Firstly yes, it's kind of "propaganda".
Secondly nope, Gates don't have to be a crypto enthusiast. As we know Zukerberg is against crypto but he's still an IT-specialist.

[aalborg]

With existing KYC measures, just in each current ICO, your are not anonymous anymore, and capitalisation of market stil less than 1% of total money supply

[BTCMILLIONAIRE]

With existing KYC measures, just in each current ICO, your are not anonymous anymore, and capitalisation of market stil less than 1% of total money supply

There are ICOs without KYC. And you can always buy tokens on exchanges to avoid KYC as well.

[dangdangdang]

Bitcoin and Cryptocurrency is a threat for some business institutions like Banking and finance because Crypto are just like a bank in so many ways.
People would no longer use the banks to keep safe their financial assets and Bill Gates and other rich people would be threatened because their business would be affected and time will come that they will no longer get money from their clients and customers but instead crypto tokens.
Bill Gates sees that his wealth will be affected by Cryptos in the future.