Bill Gates and Bitcoin

[homeless hacker]

Here we have a brief overview of what Bill Gates believes in regards to you guessed it, Bitcoin.

http://gyazo.com/976f1e94844e3013303951b1e914ae13

[God27]

Here we have a brief overview of what Bill Gates believes in regards to you guessed it, Bitcoin.

http://gyazo.com/976f1e94844e3013303951b1e914ae13

What digital currency is he using if he's not using bitcoin?

[MakingMoneyHoney]

Here we have a brief overview of what Bill Gates believes in regards to you guessed it, Bitcoin.

http://gyazo.com/976f1e94844e3013303951b1e914ae13

What digital currency is he using if he's not using bitcoin?

That's what I'm wondering, but he said it has to be stable too. "The poor shouldn't have a currency whose value goes up and down a lot compared to their local currency."

[homeless hacker]

Here we have a brief overview of what Bill Gates believes in regards to you guessed it, Bitcoin.

http://gyazo.com/976f1e94844e3013303951b1e914ae13

What digital currency is he using if he's not using bitcoin?

That is a good question. Come to think about it, I wonder which currency he is referencing. Digital currency that is.

[Bobsurplus]

Ripple??

I think its possible he may be referring to ripple.

[Gyfts]

Bill Gates already has referred to Bitcoin before in interviews.

http://www.entrepreneur.com/article/238103


He quotes, "better than currency". His concern is the same as mine about Bitcoin hitting mainstream. There is no reason for the average person to take any consideration into it as it's not a stable form of currency for someone who is low class and any class for that matter. When you don't have much to spend, you can't afford to purchase something that's value varies up and down unprovoked. Risk is too big.

[CtrlAltBernanke420]

Supposedly capitalism and free market forces are the main driver in pulling gigantic swaths of the global population out of poverty. Bitcoin is young and small, the volatility will not necessarily be here forever. The poorest american still has PS3's and Flatscreen HD tv's.. my point they have enough money to hold a $100-$200 balance. The more people involved the less they need to worry about the price going down or below their initial entry.

What is soon capable of causing the current trends of lifting people out of poverty is our own debt stricken economy. We're about to fall down the economic blackhole. Bitcoin you would think would bring back the free market, smart investment that create decent jobs that get yo ass outta poverty.

[gentlemand]

It'll have be a digital currency pegged to a state currency. I can't see how they'd get acceptable levels of volatility otherwise.

If that is the case then it might not address a few root problems but solves enough for the average poor person. They'll just want wider access to trade and money.

[God27]

Ripple??

I think its possible he may be referring to ripple.

Ok, I heard other people say this as well.  However, per Ripple Charts, I just don't see any movement in new money coming in besides JPY.
 So he is putting a few hundred dollars on the ripple network or what?  

He is worth like $80 billion and the Gates Foundation is worth like $30 billion. And has already donated like $30 billion.  Plus he is very serious about Africa and India, I don't see any gateways currently running for him to transfer value from the U.S. to these countries as of now.

[MakingMoneyHoney]

The poorest american still has PS3's and Flatscreen HD tv's.. my point they have enough money to hold a $100-$200 balance.

Where'd you hear that? We do have homeless people in the US.

But I still believe bitcoin is great for the poor, if only for the fact that those without bank accounts, can still receive bitcoins for pay, and can still use the bitcoins to buy things. Banks have their problems, especially charging more and more fees and requiring you to have a balance when starting an account. Bitcoin gets rid of all that mess.

[homeless hacker]

The poorest american still has PS3's and Flatscreen HD tv's.. my point they have enough money to hold a $100-$200 balance.

Where'd you hear that? We do have homeless people in the US.

But I still believe bitcoin is great for the poor, if only for the fact that those without bank accounts, can still receive bitcoins for pay, and can still use the bitcoins to buy things. Banks have their problems, especially charging more and more fees and requiring you to have a balance when starting an account. Bitcoin gets rid of all that mess.

Bitcoin is still great for the poor. No bank account needed as you mentioned. Also, they can buy anything they want with bitcoin as they would do with fiat.

[God27]

It'll have be a digital currency pegged to a state currency. I can't see how they'd get acceptable levels of volatility otherwise.

If that is the case then it might not address a few root problems but solves enough for the average poor person. They'll just want wider access to trade and money.

Well that's the thing...ripple has essentially made all coins in the world digital with their IOU process.  So he could transfer USD or whatever to his India Gates Foundation Center, then they can convert to whatever currency they want, all costing like 0.03 XRP, so fractions of a cent in the matter of seconds.

But getting it off the ripple network will cost more.

[DLCseller]

Maybe he'll create a new crypto lol

[runpaint]

Bill Gates has mentioned Ripple before, and he's full of shit.

Poor people can benefit from Bitcoin just as much as anyone.

As for reversible transactions, that is what gives other people power to control our money.  If you give a bank, or Paypal, or anyone else the ability to reverse transactions, then they become a court that decides who is right and who is wrong in a dispute between private parties.  

[God27]

Maybe he'll create a new crypto lol

Yea, if he had the drive that he had in the 80's and 90's he would be knocking competitor altcoins to 0 right now lol

[God27]

Bill Gates has mentioned Ripple before, and he's full of shit.

Poor people can benefit from Bitcoin just as much as anyone.

As for reversible transactions, that is what gives other people power to control our money.  If you give a bank, or Paypal, or anyone else the ability to reverse transactions, then they become a court that decides who is right and who is wrong in a dispute between private parties.  

You're right, but ripple doesn't give anyone that ability.  Now, gateways that "want to" and "declare it" can freeze their IOU's that you have.  But NO ONE can do anything about your XRP's...

[thompete]

Here we have a brief overview of what Bill Gates believes in regards to you guessed it, Bitcoin.

http://gyazo.com/976f1e94844e3013303951b1e914ae13

I like the fact about the price variation for the poor. But if he cares about the terrorist part, then probably his new currency will not be anonymous.

[MakingMoneyHoney]

Bill Gates has mentioned Ripple before, and he's full of shit.

Poor people can benefit from Bitcoin just as much as anyone.

As for reversible transactions, that is what gives other people power to control our money.  If you give a bank, or Paypal, or anyone else the ability to reverse transactions, then they become a court that decides who is right and who is wrong in a dispute between private parties.  

I think I heard Andreas Antonopoulos say that blockchain transactions could allow people to do trusted transactions with each other in the future that allows returning money if certain conditions aren't met. People could do what they normally do with Bitcoin, with it not being reversible, but since it's open, there could be ways to enter into trusted agreements that would refund if you wanted to. If I understood him correctly, at least.

[runpaint]

It'll have be a digital currency pegged to a state currency. I can't see how they'd get acceptable levels of volatility otherwise.

That's supposed to help poor people?  Give them money that is guaranteed to be worth less and less every year?

That is why everyone spends, saves nothing, and takes on massive amounts of debt - because the money is constantly losing value.  State currency is a hot potato, it's smart to get rid of it as fast as you can and leave someone else holding it.  It's always better to pay later, because the money will always be cheaper later.

[gentlemand]

It'll have be a digital currency pegged to a state currency. I can't see how they'd get acceptable levels of volatility otherwise.

That's supposed to help poor people?  Give them money that is guaranteed to be worth less and less every year?

That is why everyone spends, saves nothing, and takes on massive amounts of debt - because the money is constantly losing value.  State currency is a hot potato, it's smart to get rid of it as fast as you can and leave someone else holding it.  It's always better to pay later, because the money will always be cheaper later.

I'm not saying it's right, I'm saying that's how it's likely to be.

The average guy living in a sewer in Equatorial Guinea isn't going to care too much about the future of economics. He'll want easy access to money that he can receive, spend and send if he manages to get his hands on any.