Bill Gates says crypto-currencies cause deaths

[jemarleon]

I just saw this news, For me its always the choice of an individual in how people will use the technology, many of the technologies can make an easy way to do bad things in life but it is the choice of the people, if they use it in a bad way, they will suffer for their selves.


Crypto-currencies are killing people in a "fairly direct way", Microsoft founder Bill Gates has said.

He was referring to the way digital currencies like Bitcoin are used to buy drugs like synthetic opioid fentanyl.

In an "ask me anything" session on news website Reddit, he said that the anonymity of digital currencies meant they were linked to terrorist funding and money laundering.

Some criticised him, saying he was ill-informed about the technology.

Asked by one user for his opinion on the technology, Mr Gates replied: "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 [initial coin offerings] and crypto-currencies is super risky for those who go long."

heres the link: http://www.bbc.com/news/technology-43239781

[Gyromancer]

But 2 year ago also he said bitcoin is unstopable :/

[bitmover]

Well, thinking this way Dollar is killing much more people.

How many terrorists buy weapons with dollar?
How many drug dealers sell drugs for dollar? I bet they have first traded drugs for dollar, and later decided to trade dollar for bitcoin.

Cash is way more anonymous than bitcoin. Lets stop using cash because it is "killing people"?

Sometimes i think these articles are just fake news, or bill gates has another intentions.

[44_crypto]

Well, thinking this way Dollar is killing much more people.

How many terrorists buy weapons with dollar?
How many drug dealers sell drugs for dollar? I bet they have first traded drugs for dollar, and later decided to trade dollar for bitcoin.

Cash is way more anonymous than bitcoin. Lets stop using cash because it is "killing people"?

Sometimes i think these articles are just fake news, or bill gates has another intentions.

Agree.

[Emin90]

He just expressed my subjective opinion, Yes there is truth in his words is that those people who have lost all their money and even dropped in price and they were shocked!These people were at risk of suicide because of the losses, but in general it's not bitcoin leads to death and the pain of the huge losses!

[JoshMart]

I think the same can be said for real-world money now, wouldn't it? I mean sure, these criminals may have found a new way to peddle their wares (like drugs, weapons, etc) but these illegal activities have been a problem for as long as I can remember. Placing sole responsibility on Crypto Currencies for the proliferation of these bad elements wouldn't really entirely right in my opinion. Technology is advancing at relatively blinding speeds and if these criminals use it for their profiteering acts, I trust that our sworn protectors would also find a way to up their game and catch these bad guys.

[glavos]

In his statement replace Bitcoin with any other FIAT currency and it still will be a true statement. This is invalid comment, coming from him.

[tdrinker]

It's disappointing that one of the great pioneers and minds of our generation takes such a narrow minded approach. It seems as if he 'spoke' without really thinking about what he was saying. USD is equally as bad if not worse and many of these illegal transactions require PCs to transact. Let's not forget that bitcoin was developed in windows...

[nethan1btc]

I just saw this news, For me its always the choice of an individual in how people will use the technology, many of the technologies can make an easy way to do bad things in life but it is the choice of the people, if they use it in a bad way, they will suffer for their selves.


Crypto-currencies are killing people in a "fairly direct way", Microsoft founder Bill Gates has said.

He was referring to the way digital currencies like Bitcoin are used to buy drugs like synthetic opioid fentanyl.

In an "ask me anything" session on news website Reddit, he said that the anonymity of digital currencies meant they were linked to terrorist funding and money laundering.

Some criticised him, saying he was ill-informed about the technology.

Asked by one user for his opinion on the technology, Mr Gates replied: "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 [initial coin offerings] and crypto-currencies is super risky for those who go long."

heres the link: http://www.bbc.com/news/technology-43239781

Yeah, I agree on that it may cause death if those users are not responsible on their health that may cause illness to their health and in thr worst case may result a death. On my opinion, for those users they must have a totally balance on their time which make them comfortable. Also, don't too much emotional since it talks about money here in crypto currency communitu , a users must aware on some possible risk which it unpredictable to happen. Lastly, live life to the fullest in a positive and right way like bonding with your love one because sometimes too much time in crypto we can't even think that time for our family was affected.

[BartS]

It's disappointing that one of the great pioneers and minds of our generation takes such a narrow minded approach. It seems as if he 'spoke' without really thinking about what he was saying. USD is equally as bad if not worse and many of these illegal transactions require PCs to transact. Let's not forget that bitcoin was developed in windows...

The same can be said about almost anything, look at cars the biggest cause of deaths among the young population have to do with driving under the influence of some intoxicant and yet no one wants to ban cars and the reason for that is the benefits we get out of cars outweigh the costs and the same can be said about bitcoin, bitcoin as a tool will cause some damage to society but it will also cause a lot of good and since the good effects are way bigger than the bad effects then bitcoin will keep growing and its adoption will grow as well.

[eagleman]

But 2 year ago also he said bitcoin is unstopable :/

Hmmm this might be the sign that he's going to start putting money to bitcoin?
Most of the well known and popular people are telling this way so that they can have their own purpose and interest for bitcoin and will have a good buying price. I thought I was wrong that I can remember, he said positive thing about bitcoin before.

[Coffee135]

I'm interested in checking bill gates on a lie detector to see if he has any bitcoins. I am sure that the answer will be positive. Most famous people hide their earnings in cryptocurrency. Those famous people who honestly pay taxes admit that they have bitcoins. It's a worldwide epidemic. I think the bankers bribed or forced bill to tell that lie.

[Dragon5]

I wonder why he said that. To prevent people using bitcoin? To destabilize the market? To encourage athorities to introduce regulations as soon as possible?

And everyone knows that bitcoin itself is not evil, people who misuse everything are evil. I would even say that developing and producing of weapons is more evil than selling them. So, it doesn't really matter if crypto is used for illegal things. All the other currencies, science, human beings are also used for illegal purposes

[Rath_]

Honestly, at first I thought that I saw another fake news and decided to ignore it but it quickly turned out that I was wrong. Why did he change his mind so suddenly? Cryptocurrencies are used by criminals, we all know it but blaming them for it is inappropriate. I would say that fiats have higher share when it comes to criminality. I understand the concern about terrorism but governments are abusing these tools. That's why we need cryptocurrency. Money privacy should be as important as correspondence privacy.

[mprepkiah]

I think it depends on us who use it should they be tightened to conduct transactions again, and do not just spread fud because it will cause the price of this turung...

[akamit]

He was referring to the way digital currencies like Bitcoin are used to buy drugs like synthetic opioid fentanyl.

In an "ask me anything" session on news website Reddit, he said that the anonymity of digital currencies meant they were linked to terrorist funding and money laundering.

What he said is 100% true and his concerns are right.
But I would like to ask him, isn't it fiat currency also involve in buying drugs, terrorist funding and money laundering? Does anyone solve this issues yet?
Fiat has been used, still using for these things, ALWAYS USED! And Bitcoin has a history of only 9 years. So why only blame Bitcoin/Cryptocurrency?

Everything in this world has two sides "Good & Bad" and everything depends on the individual which side to pick.

[BountyX]

If Bill Gates is saying that crypto-currencies cause deaths, I'd be very curious to know how many people in the world must have died in the past decades while they were sitting at a computer using Windows. Just out of curiosity...

[WUUEX79]

Bill Gates point of view isn't as great as his work he only sees the downside. Supposedly Bill Gates said wisely and realistically he should be able to compare, How much negative and positive effects the Crypto-currencies brings?...

Hi ... Bill Gates...
Cryptocurrency instead of a knife or a gun, cryptocurrency is just a virtual currency dan impossible can kill people directly.

[jhean_arcane]

Crypto-currencies are killing people in a "fairly direct way", Microsoft founder Bill Gates has said.

He was referring to the way digital currencies like Bitcoin are used to buy drugs like synthetic opioid fentanyl.

In an "ask me anything" session on news website Reddit, he said that the anonymity of digital currencies meant they were linked to terrorist funding and money laundering.

And so is fiat money. Fiat money also had killed much more people in a "faily direct way".

Funny how he described it. My fiat money can be used to buy other dangerous drugs.

Money laundering and and terrorist funding existed even before bitcoin was created by Satoshi.

Asked by one user for his opinion on the technology, Mr Gates replied: "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.

The anonimity was also used in fiat money. They just needed to change their identities and get money from other means.

[1Referee]

Hmmm this might be the sign that he's going to start putting money to bitcoin?
Most of the well known and popular people are telling this way so that they can have their own purpose and interest for bitcoin and will have a good buying price. I thought I was wrong that I can remember, he said positive thing about bitcoin before.

Yeah, right. Bill Gates with his wealth peaking over $90 billion needs to fud and start investing some of his wealth into Bitcoin to make a few extra millions. It's just his opinion, which to a certain extent has some truth to it, and to a certain extent also not. He has other things to focus on, and for that reason doesn't really care about choosing his words very wisely when it comes to talking about crypto. Also, he is part of the traditional elite who become insanely wealthy within the system that a lot people here (rightfully) seem to dislike. He grew up and developed himself and his empire to what it is today in a system that revolves around multi billion multinationals. You can't blame him for not looking at crypto the way we look at crypto.