Bill gates says cryptocurrency is bad

[itasannah]

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'm sure that every head has their own mind and opinion. I myself honor what he said. but, I myself also believe that crypto has very good benefits for me, especially. And I know also that many people in the wrold also get the benefits of crypto. We should receive whatever the crypto done wisely and if it still gives us benefits, why not?

[Showmethebtc]

That is his point of view and I appreciate his decision because its for a good cause. I don't fully agree with his decision though. Cryptocurrencies in general have a borad usage and anonymity is not the only feature of it. There are people who misuse it for wrong purposes and certain measures can/should be taken against it. But there are quite a whole lot of other things for which cryptocurrencies can be used. I believe the positives are quite more than the negatives.

I think it is a public figure. Such a speech is just more suitable for him. But its discourse does not affect the cryptocurrency market. The cryptocurrency market needs more understanding. I think that many people do not understand cryptocurrencies.

[bilal_jan321]

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.

Just like all other technologies, cryptocurrency has also both good and bad sides. Fentanyl and other drugs can also be bought using fiat currency. Take the example of guns, for instance, they can also be used to shoot innocent people but does that mean we stop keeping guns for our safety?
The anonymous feature is also a big advantage to carry out transactions in areas where crime rate is high.

[eneifed]

He has spoken in favor also sometimes. I do not think that he has done much research about this as he already has a lot of work to handle.

[Alohadanc3]

It's ok. Cause everyone has his/her own point of view. If he thinks it's not ok then it's also ok. His comment doesn't make it bad or something. And in my opinion, he has a right point of view cause its right that crypto is used for drugs and illegal market. But every coin has 2 sides. He only can see the bad side. There is a lot of good things which comes with crypto.So don't take it serious whatever he says.BTW he likes the blockchain technology.

P.S.-I think he is giving us some FUD. Cause he wants to full his pocket with cheap price.LOL.(JUST a JOKE)

[lieugiai161]

indeed this may happen because I see the altcoin is always close to zero, but seeing my fans think the crypto currency will still be able to survive in the long run.

[xaker74]

Who cares what he has to say about cryptocurrency? He has already earned his billions, the only thing that he can feel for cryptocurrencies is envy, because he did not come up with this technology.

[NIuok]

When Bill Gates started the creation of Microsoft, many people thought that the Internet was bad, but Bill Gates succeeded,now no one thinks that the Internet industry is bad. So it is still too early to conclude for cryptocurrency.

[stephanirain]

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 believe bill gates is not the only one who says bitcoin and cryptocurrencies are bad. There are a lot of billionaires and millionaires who says bitcoin and cryptocurrencies are bad because they think it doesn't have any good effects in the economy.

[sodiik]

Hmm, I think everybody is free to say his opinion about crypto, even Donald Trump .. Its okay. It's just us as users, we feel the impact whether it's good or bad. So it's up to the users. Will stay on or stop. But so far I have not found anything bad happen to me and I will stick with crypto.

[valessiobrito]

Gates isn’t wrong, but in lieu of the collapse of organized government and a descent into a dystopian cyberpunk universe, it’s pretty hard to determine what impact crypto is actually having on the public’s safety. For what it’s worth, there are plenty of reasons to be somewhat skeptical about cryptocurrency that have nothing to do with money laundering or terrorism, like its Tulip mania-esque boom and bust cycle that increasingly hints at destabilizing the real economy.

[anaivanova726]

And some extent he's right . but I don't fully agree . anonymously and in cash funds managed to buy , to clean , to terrorize, and so on . so this is all temporary and everything will be settled in the future .

[jankole14]

Whether it is bad or not, i will still continue to invest as much as i can, because i see the value if my hardwork, being in altcoins for so many months i could say that i earn a living for investing and doing it, so ill keep going whatever happens

[tranvy148a]

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

[Accts4u2]

If he thinks that the main feature of Bitcoin is anonymity than he doesn't understands Bitcoin. Also why does the crypto community have to care about what an old guy like him has to say as he clearly doesn't understands the technology and likely regrets not having any stake in the crypto markets.

[Just John]

Bill gates says a lot of things, just because someone is a billionaire does not mean that they cannot be wrong. I wouldn't be surprised if someone like bill gates has some investment banker somewhere that is helping him put some of his money into cryptos because surely someone like bill gates knows that cryptocurrencies are the future currencies.

[phas129nnn]

 if he decides to ban crypto sites in new windows updates in future. FB already ban ICOs advertise.

[TTITA]

Bill should have a closer and deeper approach on this issue, because it will do him good as a potential investor that he is. Bill Gate is an individual expressing his personal opinion. He has the legitimate right to comment on major issue like this however I differ totally from his own opinion because cryptocurrency is best thing that happened to humanity in the most recent time. It's a time bomb to modern technology. Some people globally describe it as the smart economy of the people. Bill Gate should try with all possible best to adjust to this financial trend of technological economy.Though there had been some few bad issues here and there, the benefits of cryptocurrency outweigh the disadvantages. Thanks buddy for bringing such an interesting issue on stage.

[Crytptomeniac]

 Should we really care what Bill has to say about Cryptocurrency?  He is a very. Respectable figure in the business community as well,. But no investment or business decisions should be made based on his thoughts, I believe no one could convince him against Microsoft when it was still at a tender stage so.  I think people should stop listening to too much external opinions and give cryptocurrency a chance to grow and develop

[lovetherain0101]

I think it's an old song. Bill gates billionaire guys, he has his cockroaches in his head, what he thinks few people are interested in, especially in cryptocurrency. He tomorrow will tell the Euro is bullshit because he keeps his fortune in dollars:) And that everyone will believe?