Bill gates says cryptocurrency is bad

[DabsPoorVersion]

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.

the main reason why he said that is because of anonymity of the users of crypto, he doesnt like being anonymous because he knows that many scammers might use its anonymity to gather a huge amount of money from other people.

[Sithara007]

Bill Gates is a grumpy old man who had to work hard for 30 years to become a billionaire. He is jealous at those young Bitcoin users who got rich as a result of crypto. Time to time, his jealousy comes out in the open, in the form of such statements.

[adam24409]

The President of my country (Russia) also believes that cryptocurrency is bad. Because it greatly affects the entire banking system of the state. That's why he wants to introduce a mining tax and regulate crypto

[luckybanker]

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 think you have misquoted Bill Gates in the subject. From what I understand, he is only referring to the anonimity of bitcoin being not a good idea. He did not say that cryptocurrency itself is bad. In other articles, he is praising cryptocurrency. So, there is nothing wrong when he said that. Cryptocurrency can be bad if used inappropriately. Nowadays, there are cryptos/ ICOs fixing that problem. One of which is the Universa(UTN/UTNP).

[speedy1987]

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.

Every one have their own point of view. We cannot assume which is bad because of his statement. Cyptocurrency really helped many people. He is a millionaire he may tell whatever he want. He doent bother about youth future. So dont consider these statement.

[Tyler2446]

The President of my country (Russia) also believes that cryptocurrency is bad. Because it greatly affects the entire banking system of the state. That's why he wants to introduce a mining tax and regulate crypto

[Doging]

He meant that there is a lot of speculation in this market. And the technology itself is very promising.

[Kunlejoe0]

Bill could say whatever he wants, the utility of cryptocurrency in business and finance can not be wished away! Cryptocurrency is solving transactional problem from coast to coast and that will not change in the the nearest rather, it will get better!

[adammessi340]

Bill Gates is a wrinkled old prune these days, he had his multiple decades in the spotlight from 1980 through 2000s and was a huge authority on computer software, but I have no interest in what he has to say these days especially on the topics of finance and investment.

[ngocchau250]

In this situation, most likely, he simply does not see the value in the cryptocurrency as an effective stable unit of labor. Therefore, it speaks about the anonymity of cryptocurrencies as a threat. Nowadays, large banks can arrange anonymity not worse than any cryptocurrency for respectable clients.

[myfamilyisthebest01]

Bill Gates like many other "BIG" names probably don't know very well the entire crypto world...  main feature is not privacy but the what the decentralization with blockchain can revolutionize many sectors and activity

[bamita125]

I think that Bill Gates is not interested in cryptocurrencies. He has other interests and other problems. I am sure that the time will come when he recognizes the cryptocurrency.

[reztava]

indeed for someone who still does not know how to see the potential on altcoin it will be very bad but if they observe it clearly and thoroughly it will feel easy and good for us to plunge in it.

[sergeykravcov177]

I will say one thing, I personally when they say badly about some kind of coin, I always start buying it, because I know what it means for its rapid growth! a lot of people were when they spoke very badly about the crypt world, but still changed their opinion about this in the course of time! Soros also spoke ill of the crypto world and about bitcoin, and now he created his investment fund in the crypto world! people will eventually change their minds about the crypt world! the more so most of these people are not bothered by the entire crypto world system, but are concerned about the appearance of new projects and teams with their coins, and which may prove to be scammers!

[StevenPop]

Ok, so? There are so many other people that also believe that cryptocurrency is bad, and I don't see how that has affected the market thus far. I get that his idea might be a big deal for some people cos of his status quo, but to me, it's just a one man's idea, and it's ok for him to have a different idea from those of us that are fully invested in the trade.

[Milla Kross]

I believe everyone has the right to their opinion. Therefore, you do not need to take any words for a "pure coin". Live by your reasoning and ideas. And stick to your opinion in any situation.

[nontyler123]

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

[p i e c e]

Bill Gates says a lot of things. He is public person and he must to express different opinions for looking like rational, deliberated man. This is what he do. Bitcoin has its own benefits despite on some problems.

[seumk]

The old-fashioned capital circle is outdated for us. They can't accept some advanced ideas. The most important thing is that they didn't get this profit in the early stage. There is no lack of language in the language. I don't think they have to listen to them idea

[bemine431]

Bill Gates may be right in some ways, but most of us are cryptocurrency-conscious because they can make a profit. And for me this is the most important fact, I can make a profit without breaking the law. Therefore, I believe that the cryptocurrency is good for me and others.