Bill gates says cryptocurrency is bad

[KsaAZaks]

Bill and banks are afraid anonymity

[RomanPetrush]

Probably bitcoin started to raise when people started to use it in a criminal way, guns and drugs. I won't wonder if in some areas people are sold for bitcoin.

[TheAlchemist]

Unfortunately, this is partly true. Which we'd like to avoid happening, but partial legalization is still necessary. Because there are more and more scammers. And they can't go unchecked any longer. There is no law, and there is no punishment. But this contradicts the basic principles of cryptocurrency. How in this case to act?

[boss1dg]

its ok he have full right to express his opinion .

but simple question before crypto who was the reason for all deaths by terrorism , by drugs , by mafia , etc ??
in this way we can say dollar / yuan is also culprit !!

even as of today most of illegal activities are done by dollars instead of crypto ...
bcoz in crypto you still can be traced but in dollar insiders will help you .

[reverseflash]

Probably bitcoin started to raise when people started to use it in a criminal way, guns and drugs. I won't wonder if in some areas people are sold for bitcoin.

Do you seriously think so or because Bill Gates said that If this is so, then we also contribute to terrorism, by the fact that we advertise, believe in crypto-currencies and belong to this community ...

[liseff3]

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.

Who feeds us isn't Bill Gates, for what we listen to Bill Gates chirp and he's not our leader anyway.
Bill Gates is a rich man but he isn't a user of crypto, he has ever cared about us?

[JanCoppens]

I get his point, but he shouldn't forget that the Internet, and the Windows browser facilitate these crypto-transactions, so I guess he is also to be blamed...

[barebear12]

He just wanted to buy in a cheap price haha

[anthinguy21]

These are all personal views of Bill Gates, but if there are personal views, most of them are emotional, without analysis or evidence, mainly for reference only. So you do not need to be too concerned about such news. Always believe that the future of finance and money will be cryptocurrencies!

[chocopapaya]

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 agree with what he says, but also I recognize that it is a very narrow vision of crypto.

Yes, he is the richest man in the world and one of the most influential tech gurus of, perhaps, the century.
But that doesn't mean he knows everything.
and from what he says, it is obvious that he is lacking some knowledge as to what crypto is all about.

First, his argument about drugs is completely moot.  Well, car crashes cause death in a "fairly direct way" does that mean that the tech behind cars is bad?
AS far as money laundering and tax evasion, and crypto anonymity, I just flat out don't agree with him.
Blockchain is ALL about disrupting centralized systems.  Anonymity is vastly important.
The tech doesn't create terrorist funding at all and there would have to be evidence that it is used for funding in order for me to believe that.

But, as far as speculative risk, I totally agree.
Long term holders are doing something incredibly risky.
Unless you have a clear exit strategy, you will get burned when the bubble pops (and it will, it's a matter of math, crypto growth can not mathmatically sustain itselfas it is)

[Yuuto]

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.

What I see is that the majority of crypto activity has moved away from just drug trades or whatnot. It has become a legitimate business, in which startups can issue their own tokens and get funding.

So his understanding of BTC and other cryptos are extremely limited.

Also, he's obviously taking sides here. One can just as easily argue that cryptos are supposed to be designed to get away from government intervention in economic/banking sector. BTC/Crypto aren't the thing that is causing a drug epidemic or anything.

[btcrut2017]

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 Gates is just another guy who had his own opinion about cryptocurrency but i don't think it will have an effect on the market soon because he is not the first to make such comment. When he says that crypto can cause death because it is being used to by drugs, i don't agree with that. The people who buy drugs has his own free will, it his very own life that he put in danger and only him can control that with or without cryptocurrency.

[bayu7adi]

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 the importance of eliminating anonymity and improving transparency
the flow of unnamed funds is very disturbing, although actually maintaining privacy, but it complicates the investigation of the police in combating crime-based digital currency

[kkaroul4]

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.

in a technologically developed era like this many opportunities that will continue to grow, especially cryptocurrency so many different views of people I believe all the opportunities that depend on humans who do it with positive or negative goals the result depends on the human

[Anne8]

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.

I also realize that many token dont have legitimate use so far. So many token is made in etehrium smart contract and not many have good product.
If this continue, it mean bill gate is right but if someday the situatioan change, its very good to continue the token project.

[t3m4nc0k]

other people can comment anything without having to know the reason. and I think this is a natural thing where something must have positive and negative that always at the same time. so there are some who agree and there are some who do not agree it is common in a matter.

[charlie137]

he's a scumbag. microsoft dealing with btc officially since 2014

[Ali Akbar Torang]

I see some people fall and more people rise from cryptocurrency, i see a lot of people can fulfill their family needs, and some got bankrupt cause of their greed, crypto currency just like internet some people can used it for good, and some people can used it for bad, you can't judge a knife.

[Psytax]

People always afraid of change. Because they don't know the unknown. Let him don't forget evolution has a way of weeding out innovation plz tell him to step up if he can keep up the steps

[ukr2net]

I will not be surprised if he decides to ban crypto sites in new windows updates in future. FB already ban ICOs advertise.