Bill gates says cryptocurrency is bad

[TuyuleSora]

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.

[SameerSony]

but i bought his windows for the purpose of cryptocurrency.  I am sad for his negative statement about crypto. Criminals have some many ways in order to do bad transactions even cryto disappear they continue doing bad things.

[kucingpoi]

Everyone has a different view, Bill Gates does not deny block chain, but at present most of the ICO project is project of fraud, it's also a fact that, so the encryption monetary value still need time to confirm.

[Udrujes]

In what he is right, I also think that this will bring more problems than advantages. It is for this reason that I believe that the crypto-currencies have not been fully accepted by the world.

[Fioraver]

Everyone has their own views, Bill gates saying cryptos is bad doesn't make it to be bad,   Only time will tell who is right and wrong.

Yes, everyone has their own view and Bill Gates is one that have earned the right to be heard.
The problem is that he did not say that crypto is bad. He says that anonymity can be used for bad things and crypto can be used for bad things.

[jerry3k5jamiso1]

Since knowing and participating in investing in this market I have witnessed many celebrities say that cryptocurrency is bad but you still find that, the market is still developing strongly over time. Invest in your mind, the potential of this market is huge and I believe in it.

[CLS63]

Bill Gates is very old he can not follow the technology anymore. crypto is a very big technology. Nobody is aware of this.

[mechanikalk]

Bill Gates is too invested in the old money and power structure that he would ever endorse the potentially "disruptive" crypto world.  Also, he is responsible for Windows.  No matter how much philanthropy he does, he will still go to hell when he dies.

[leezay]

Bill Gates is too invested in the old money and power structure that he would ever endorse the potentially "disruptive" crypto world.  Also, he is responsible for Windows.  No matter how much philanthropy he does, he will still go to hell when he dies.

You are out of the point here.

It is not so important that he is into the old money. He is rich and he care about security, because he has a lot more to lose.

[Melody2]

It is a 2-way thing. If cryptocurrency is regulated, it loses its unique status of anonymity which makes it so special. But the acceptance will be huge and its potentials would soar high. Gates is right in a way but he's not talking about it from a positive light.

[Dutchyyy]

He is one of the richest people on this planet. He is out there with his face, of course he is afraid of anonymity. For him anonymity means dangerous attentions. In his mind is why would they hide if they are clean?
I don't think we should blame him for that statement, he is still a great figure, just from the last century.

[blue08]

Maybe he has a business that is affected by cryptocurrency that's why he said that.  Just a thought.
But i have a feelingg that he, himself, might have an investment as well. Some price manipulation the cause of that statement?

[Nezerlan]

What people fail to understand is that cryptocurrency is not bad. But because it can't be controlled by government it is still being painted in a bad light.

[karamanacar]

I believe that the future of crypto-economics is, the rate of crypto-currency is simply stabilized, there will be no sharp downturns and ups.

[k-west]

I think he is wrong,cryptocurrencies are very good and lots of people in the world have already realized this.This is a pretty quick way to become rich.Just buy some crypto and hold it for a year or two.That's it.

[NikolasBrest]

He is one of the richest people on this planet.

It's just that Billy did not buy bitcoins in 2016, so he's angry. Now he tells everyone that crypto currency is bad. Do not pay attention, the person just did not get on the right train on time.

[loloy]

There will always be negative and positive aspects of everything. Just like a gun, you can use it to protect yourself and family from criminal minded individuals, the Bad thing is criminals also use gun for their crime. See my point? I am well aware of it, but the most important thing is, your conscience. If you are using crypto for the good, then good for you. Crypto alone is not bad, It's the person using it for their criminality that's bad.

[qwertyup23]

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.

Famous billionaires like Bill Gates may be right but they have grown accustomed to the traditional way of investing money. What makes cryptocurrencies volatile is its decentralized nature in the market. Its anonymity factor eliminates the need of having a peer-to-peer transaction but the negative implication is what Bill Gates mentioned, which is that it can be used as an avenue to acquire or smuggle illegal products and services.
Everyone is entitled to have their share of opinions but the positive implication outweighs the negative effect it brings to the table. If his main concern revolves around the lack of security and safety, then implementing strict rules may be able to do the trick! We must also take into consideration that cryptocurrencies have become paramount in today's society in terms of an investment alternative and as a currency being utilized around the world.

[Way2Paradise]

bill gates has already said a lot in his life. he was right with some, and was wrong with some.

so i'm not worried about anyone saying that. crypto are here to stay.

[beigai]

I don't think it's strange at all. Whenever something new emerges, it often has two different voices.
One is to praise and the other is to oppose. However, when these technologies(blockchain) are really accepted by others, these opposition voices will slowly stop.