Bill Gates says crypto-currencies cause deaths

[hunterWood]

Didn't he praised or said good things about Bitcoin a while back?

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[jeremypwr]

I don't mind articles like these as you have a major player in the game that mentions Bitcoin.  As someone already mentioned, Bill Gates has been known to change his opinions and at one point was a fan of Bitcoin (if my memory serves me correctly). 

[maculeth]

assumptions from some billionaires against crypto make people begin to doubt on bitcoin and altcoin. their claims to crypto seem to be a danger signal to crypto. this is what makes people's interest in crypto start to decline. if this situation continues, bitcoin and altcoin will be difficult to rise.

[krauzzer02]

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.

That's how KYC is so important, that's why it needs to be implemented in all of the countries who support cryptocurrencies, all local exchanges and wallet services who have features to convert btc into fiat money or any other crypto needs this policy, it is possible to track those criminals with the help of blockchain technology, KYC, internet security experts and investigators rather than the traditional form of payment which is the paper money, just hand the money transaction done, no trails of transactions or names under it.

[eagleman]

snip

Hes here nott for the anonymity but for the sake of money making opportunity and I'm 100% sure of that since I'm also one of those people who don't really care at all about anonymity stuffs and benefits.Sounds too rude but this is the reality on most people here into this cryptoworld.Crypto do have its negative side and if people would decide to utilize it then they can really fully extent and benefit since it is capable on doing such stuff.

He's rich enough and we don't know the real reason why he has mentioned those. In general, there's negativity that others can see even its on a positive path. But the most important thing is when someone give's his opinion about a thing, we must respect it base on his point of view. He addressed the government tracking ability so he's worried about decentralized economy in the future.

[player514]

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

I don't really think he's wrong in a sense, I just think he's pretty misinformed. If he looks deeper into the use cases of bitcoin, he'll see that it's not a majority of drug deals and terrorist incentives. It's mostly being used on exchanges as just any other form of currency investing, and I don't think there's much wrong with that. Of course, there will always be that other option of ending up with crime being bitcoin-related, but there's not much we can do about that. The only thing I could see being done is to centralize bitcoin, which goes against basically its major idea.

[joebrook]

If Cryptocurrencies are indeed causing any deaths, I am sure that it is those who are so opposed to them that are dying because of inspite of the value going down these few months, Most investors in cryptos are very confident and upbeat about it successes in general.

[darkangel11]

To some people he's still an authority, especially to those 40 year olds, who first touched a computer in the early 90s and it was an MS DOS system. I'm much younger than that and it still was one of the first things I had to use, simply because I was too poor to get a new PC and had to learn on the older, used ones. 
Gates was someone that we all knew at that time. A guy who was a nerd, programming in his garage, and became a millionaire. I liked him.
I think he's just old and confused now and should do some research before these interviews, and such or he'll continue to embarrass himself.

[jeronimosuykens]

assumptions from some billionaires against crypto make people begin to doubt on bitcoin and altcoin. their claims to crypto seem to be a danger signal to crypto. this is what makes people's interest in crypto start to decline. if this situation continues, bitcoin and altcoin will be difficult to rise.

In recent years there have been many billionaires and celebrities who made bitcoin and cryptocurrency but it still has little effect on this market because investors are getting used to bad news so they are no longer worried. fear and loss as before. For the most part, I think the bad news is that the media was launched with the intention of lowering the reputation of the cryptocurrency to buy a certain crypto at a very cheap price. So invest when you really understand the benefits and potential of this market.

[Nick Abimanyu]

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

Bill Gates is very know, when crypto will increase. Hence he's blocking all of us with his skeptical remarks I'm so sad to hear it "Apparently 'Bill Gates' don't understand the real humanity condition".

[pawel7777]

Yeah, I've seen that BBC article. This "fairly direct" quote of Gates seemed like a brainfart. If cryptos are to blame for people buying drugs with them - then so is Windows os for allowing them to install wallets, use internet etc.

But to be fair, I tried to find this exact quote on reddit and failed (apparently he wrote it during AMA session). It might have been removed, or BBC misquoted it somehow.

[rosepetals]

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

I think any currency can be used in any illegal activities if that certain person will choose to use it in a wrong way.Cryptocurrency cannot be widely used in an illegal doings because our wallet was created using our gmail account in which it is needed to be verified using the complete information of oneself.All i can say is that crypto currency is more unlikely to fiat in terms of transactions.It can be make as a very easy transactions in buying drugs or etc. So it really depends on the holder if they will do nasty things using diiferent currency.

[kimochidesh]

I don't really agree with this statement that Bitcoin is causing death. In that way, Even Internet is responsible for youth's porn addiction. Emerging tech may have side-effects, but that does not mean that tech. is harmful. It depends on the users, how they use it. Moreover, before BTC it is not like drugs are never sold, FIAT was responsible for people's death and addiction till now.

[Jas18]

I don't really agree with this statement that Bitcoin is causing death. In that way, Even Internet is responsible for youth's porn addiction. Emerging tech may have side-effects, but that does not mean that tech. is harmful. It depends on the users, how they use it. Moreover, before BTC it is not like drugs are never sold, FIAT was responsible for people's death and addiction till now.

Yes your right, i think Bill Gates was just sharing his opinion. But i think if people really wanted to use crypto in a negative way, well its their choice. Even if without crypto if they really want to buy something that would create chaos they will really do it because they really wanted to kill people for some reasons that they are the one who knows it. Therefore, Bill Gates is somehow correct about using crypto in a negative way but most of the people were using it correctly and it helped a lot of people to make their lives easy and comfortable.

[Delivey]

Anything can cause death. Even aging.

[HatakeKakashi]

We different opinion,  thoughts,  perception so that's why ignore only the people who are negative. Because if you are going to trust to other people saying you will be failed because better to failed at your own decision not the other.  Even billgates said that don't be affected because if you are trustung ti cryptocurrency and to your decision to joined this for sure the result will be good.

[kimmy724]

In my opinion , all that involve in wealth , investing and money can really cause death because  of human behavior. When greed steps in , there is always a way to reap violence and carnage. So it not just bitcoin , even gold and other precious metals. All that involves medium of exchange can cause deaths. So let us deal with it.

[ityandsyn]

For this instance I will conclude that He is not unlike to us,sometimes We speak without thinking intelligently, this is a bad news to bitcoin because he is very influential personality and people are listening to him, but the good news is he gave fear to the drug lords to use this cryptocurrency for their transactions.

[cpfreeplz]

Bill Gates is a wishy washy moron who can't figure out with his old feable mind if he likes cryptocurrency or not. It's fascinating to him, but at the same time he doesn't want to get involved because then he would in his mind be dealing with money that's connected to these sketchy businesses. It's not true at all, and if anything 90% of his cash has been in the hands of drug dealers, but anyway whatever. This didn't have any effect on the market so moving on.

[fokinlipat]

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

It is sad to see people disrespect int the opinion of a person who became the richest person in the world by making technological innovations. I agree that he is not god and may make mistakes but I am sure that he is very much aware about the risks associated with crypto.

If you follow him on social networking websites, you must have observed that he still likes to read a lot. I would not be surprised to know that his statement is based on what he has read about crypto from credible sources. We should try to take his advice much seriously than any other member here.