Bill gates says cryptocurrency is bad

[oppo070]

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 Bill Gates hasn't have enough time to study cryptocurrency, I guess he just know and read something about bitcoin that is used in illegal purposes in the dark web, but we all know what crypto really is at the moment, its benefits and advantage to fiat is explicitly stated by coins.

[1714272989]

1714272989

[1714272989]

1714272989

[1714272989]

1714272989

[Bitknick]

Nevertheless, he does not offer anything innovative in return, although at one time he gave people the product that almost everyone uses!

[iam_aayushiJ]

I think in near future cryptos will grow in collaboration with government, but according to the currency systems, even if identities of people are with the government, money laundering, money being sent to Swiss banks, corruption, everything is happening, terrorists are getting funded, human trafficking is happening etc.

No where you can say the because crypto is anonymous it will fuel the crimes or money laundering. Crypto might bring an end to rigid financial systems developed by countries. JP Morgan has launched its own coin, similarly amazon google and even Microsoft will have its own coin, to develop its own ecosystem.

[adekogbe]

I believe bill gates have a very good point in his interview because some consequences of crypto have already caused direct death to some people and also it is a playground for criminals and lot of illegal activities however even on the internet there is a dark web which is also used for similar purposes.
what I'm saying is cryptocurrency , is not entirely bad but with better regulations and better enforcement of the law,  the bad sides of it can be put in check and government can have more control over it

[Mr.Noda]

I will tell you so that you shouldn’t believe everything that even such significant figures as Bill Gates say. Many people speak badly about Bitcoin.

[5thFear]

There was a time when he was actually supporting and promoting cryptocurrencies. I don't know what changed his mind. But whatever he says or anyone else for that sake, crypto is here to stay.

[Cryppy_guyL]

There was a time when he was actually supporting and promoting cryptocurrencies. I don't know what changed his mind. But whatever he says or anyone else for that sake, crypto is here to stay.

Any public statement of such famous people always pursues some goal, raise the price and earn or scare investors and make them sell coins, which he himself will buy at a lower price

[jerrison]

it is normal for people to make statements that indicts what things they hardly comprehend, irrespective of what players they are and the fields in which they handle sensitive positions. as much as they are key opinion leaders (kol) in the technological space, it is also known that other people have also tested and experienced first hand the efficiency of the technology

[spike420211]

Whatever Bill Gates may say, it is obvious that even he does not know what will happen to the cryptocurrency in the future. You can somehow respond to the cryptocurrency market, but you can not discount it. That is why we do not see many negative reviews about cryptocurrency from well-known personalities like Bill Gates.

[CapnBDL]

Whatever Bill Gates may say, it is obvious that even he does not know what will happen to the cryptocurrency in the future. You can somehow respond to the cryptocurrency market, but you can not discount it. That is why we do not see many negative reviews about cryptocurrency from well-known personalities like Bill Gates.

What he said will in no way affect the smart economy as a whole, the development goes on and continues to gain momentum. This process is not unstoppable, and they may specifically say to scare people out of this sphere.

[biskitop]

for some people, crypto is indeed considered dangerous because the risk is used as money laundering and can also be used as an illegal transaction. but remember, on the other hand, crypto can be a very valuable asset because it is anonymous so people cannot commit fraud.

[Jordens]

Whatever Bill Gates may say, it is obvious that even he does not know what will happen to the cryptocurrency in the future. You can somehow respond to the cryptocurrency market, but you can not discount it. That is why we do not see many negative reviews about cryptocurrency from well-known personalities like Bill Gates.

What he said will in no way affect the smart economy as a whole, the development goes on and continues to gain momentum. This process is not unstoppable, and they may specifically say to scare people out of this sphere.

Such as he probably just annoys the idea that people can earn money from nothing that cryptocurrency is gaining momentum and does not think to die no matter how much they do not want it, I think most likely they even have coins

[Georgiyk]

You know, any good invention in the hands of bad guys turns into an abomination and death.
I liked the answer from bitcoin developer Udi Wertheimer to Gates’s statement: “Cryptocurrency causes no more deaths than all other money.” I think that is correct.

[apityeh71]

They said that and create  FUD because they been sold all his Bitcoin,  and they will said another good thing after buy Bitcoin.  There are some others big investor do the samething to get profit from crypto market.

[audyearls]

Everyone has a different opinion, as well as figures like Bill Gates and we must be able to respect the opinions of anyone, regardless of whatever it is even though reaping the pros and cons of crypto will always be there and of course there are still supporters for cryptocurrency

[Remainder]

Everyone has a different opinion, as well as figures like Bill Gates and we must be able to respect the opinions of anyone, regardless of whatever it is even though reaping the pros and cons of crypto will always be there and of course there are still supporters for cryptocurrency

Of course I agree with that, but Bill Gates is no ordinary person, he is one of the richest person in the world, so people would look up unto him and his words might influence the minds of investors. Me, I should not listed to anyone, because I know I can only rely on myself when it comes to investing in crypto.

[zikzag]

Now there are some problems with the use of cryptocurrency. But I think that over time the cryptocurrency will evolve into something perfect. And people around the world will use cryptocurrency in everyday life.

[asriloni]

Everyone has a different opinion, as well as figures like Bill Gates and we must be able to respect the opinions of anyone, regardless of whatever it is even though reaping the pros and cons of crypto will always be there and of course there are still supporters for cryptocurrency

Of course I agree with that, but Bill Gates is no ordinary person, he is one of the richest person in the world, so people would look up unto him and his words might influence the minds of investors. Me, I should not listed to anyone, because I know I can only rely on myself when it comes to investing in crypto.

You don't need to mind him, when Microsoft was nothing and all of people are thinking if that will be useless or we called that as strange and how bad that idea. But just need to prove him about the future of crypto is so bright.

[sjbi]

Many of so called influential people are against cryptocurrency termed to change the lives of the people across the world. So this news is not something of any surprise to investors, crypto enthusiasts and experts. But the news that many people or organizations which were vocal of cryptocurrency earlier are now considering to try their luck in cryptocurrency. So the cryptocurrency will be accepted ultimately.

[Juggy777]

They said that and create  FUD because they been sold all his Bitcoin,  and they will said another good thing after buy Bitcoin.  There are some others big investor do the samething to get profit from crypto market.

Hey you’re absolutely correct as most of these big investors including Bill here have made a habit of bashing bitcoins with the sole purpose of driving bitcoins prices down. It’s a collective efforts of the governments and institutional investors to lower bitcoins prices, then buy them and sell for higher prices. I have said it before the solution is to ignore these investors however big they’re, and simply believe in the power of holding bitcoins.