Bill gates says cryptocurrency is bad - page 32.

cheezcarls

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Quote from: Nalbo on February 27, 2018, 09:42:26 PM

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 respect his opinion about cryptocurrencies. However, he seems to misunderstand about this one. He did have Bitcoin before, but he sold them all. As long you do not understand about the technology behind Bitcoin, you might end up listening to the media regarding the bad news on it. For now, it’s Bill Gates’ point of view about cryptocurrencies and we have to respect that for now. We just don’t stop proving him wrong, that’s all.

btcdevil

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Quote from: bazar111 on July 19, 2018, 05:08:13 AM

Quote from: ThachSanhTp on July 19, 2018, 04:17:57 AM

We should not believe in anything that is on public media. They are all the trap.
Do you remember the last time JP Morgan told about Bitcoin and cryptocurrency. He said bitcoin is bad to dump BTC price then he bought it. So funny!

No doubts that they make such things only for their profit, they can easily influence on cryptocurrency prices and buy it for cheap prices. They are not fools and clearly understand about huge perspectives of crypto.

Who believes in bitcoin and cryptocurrencies they wont be affected only the traders who are not being updated regularly will always fall on this type of fud and make losses. But it is true that big peoples are earning only by the afraid of lower peoples thinking.

Hendramuliadi

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gate bill analysis is correct, but remember cryptocurrency is not just a negative value, such as a tool for committing a crime, illegal purchase, or money laundering, Crypto is also useful to facilitate transactions, I believe in the future Crypto will be better at controlling crime, and crypto will work with the government to block crime in cryptocurrency.

bazar111

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Quote from: ThachSanhTp on July 19, 2018, 04:17:57 AM

We should not believe in anything that is on public media. They are all the trap.
Do you remember the last time JP Morgan told about Bitcoin and cryptocurrency. He said bitcoin is bad to dump BTC price then he bought it. So funny!

No doubts that they make such things only for their profit, they can easily influence on cryptocurrency prices and buy it for cheap prices. They are not fools and clearly understand about huge perspectives of crypto.

bazar111

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Many famous people have said about cryptocurrency in this way, but already most of them changed their opinion, such people like Goldman Sucks bank managers, Uoren Baffet, and many other.

MOProgress

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Well concerning what Bill Gates said there, I know too well that every body is subject to his and her opinion, he has aired his opinion and his opinion cannot determine if crypto is bad or not. Crypto is just an idea and an idea can be positive and negative. But I must say from my own opinion that crypto is a positive idea and is on of the best idea ever exist since the existence of mankind.

Uyekyi

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Bill Gates has a point though. The crypto world gives the criminals the opportunity to spread criminality without being traced. This is the downside of cryptocurrency. Because of the freedom people are given on making anonymous transactions, crimes are also anonymously done.

philX

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All things considered, if Bill Gates says that digital money is terrible it is his own view and each individual has it's very own perspective. What I believe is anything that isn't unsafe to others can't be awful. As is the crypto world which doesn't is by all accounts hurtful to anybody. Or maybe it is useful to such huge numbers of individuals as it has turned into a decent wellspring of wage through innovation.

DikkieD

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I wonder if he already changed his mind now that parties like the SEC and such have looked into the matter. I also wonder if he is already buying in at dips with one of many less visible companies, not tied to MS or himself. I also wonder how long arguments related to the negative aspects will hold. Fiat currencies are also anonymous for criminals, and in absolute numbers it is used for 99,9% of all laundering I would assume. Not sure how long those remarks will hold, especially not when it is starting to become much more approved to incentivice blockchain projects to get innovation going.

abruchifid

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I keep wondering why people keep using the example that bitcoin is used as a means to launder money as an excuse to suppress the use of bitcoin, how about Gold, USD, exotics goods, precious metals,politicians etc..they are also use for same, they too should be banned

ThachSanhTp

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We should not believe in anything that is on public media. They are all the trap.
Do you remember the last time JP Morgan told about Bitcoin and cryptocurrency. He said bitcoin is bad to dump BTC price then he bought it. So funny!

celuumk

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There will dependably be negative and positive parts of everything. Much the same as a firearm, you can utilize it to shield yourself and family from criminal disapproved of people, the Bad thing is crooks additionally utilize weapon for their wrongdoing. See my point? I am very much aware of it, however the most essential thing is, your inner voice. In the event that you are utilizing crypto for the great, at that point bravo. Crypto alone isn't terrible, It's the individual utilizing it for their guiltiness that is awful.

Vispilio

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Bill Gates is a wholly amoral nerd who should never be taken seriously for his statements on philosophical subjects like ethics and morality.

Gates' own company Microsoft is one of the most heavily criticized in the world for invasion of privacy and breach of individual rights and freedoms.

His monopolistic tactics are backed by the US government interests, so in his foolish statements Gates conveniently forgets that governments and states can also be evil

and therefore must never be prioritized over individual rights and liberties.

Luana Trade

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IT HAS RAISED AN ENVIRONMENT OF SECURITY AND RELIABILITY BETWEEN THE COMMUNITY BUT I BELIEVE THAT IF I HAVE A BOOK ON CRYPTO NOTHING OF RELEVANCE WILL HAPPEN ON THE WORLD OF THE CRYPTOMOEDAS SINCE THE OPINION OF IT DOES NOT SERVE FOR ANYTHING AND YES IT KNOWS AS CURIOUS AND NOT LIKE WE BREATHE CRYPTOMOIDS ANOTHER SIDE OF DRUG PURCHASES THIS IS BLA BLA BLA POISANTS OF EXISTING BITCOIN ALREADY BUY DRUGS USING THE BANKS

OmarGsPools

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Of course i agree , we d'on't want these crimes too, of course the government's ability to money laundering and tax evasion and terrorist financing is a good thing. However, the world isn't a paradise before crypto and these crimes can not be prevented too in the use of fiat money. Bill Gates should emphasize these in his talk.

moynul2050

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Calm down, everyone refused.
but, eventually they will understand that blockchain is a great discovery. then they will draw their words.
or maybe he's trying to play monopoly with his statement. Grin

Bobocantik

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I don't consider surprising that the owner of a large corporation is against crypto-currency. I think Bill fears that blockchain technologies can take a significant share of Microsoft. Arguments about the fact that weapons and drugs can be bought for the crypto currency are in general meaningless. Previously, they were bought for fiat currency.

It turns out, the fiat money is also bad one?

victory1

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First, his argument about drugs is completely moot. Well, car crashes cause death in a "fairly direct way" does that mean that the tech behind cars is bad?

AS far as money laundering and tax evasion, and crypto anonymity, I just flat out don't agree with him.
Blockchain is ALL about disrupting centralized systems. Anonymity is vastly important.
The tech doesn't create terrorist funding at all and there would have to be evidence that it is used for funding in order for me to believe that.

Anewor

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Well he was correct. The anonymity feature hides the criminals doing it. Cryptocurrencybthough is not bad but can be used to help do what is bad. In the same way a police man carries a gun to save lives but such gun can also take if used to do a crime. Maybe there is something that can be done here to avoid misuse and that would probably lead to some regulations.

Happydd

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Electronic money is not necessarily bad but it is not good. Good or bad depends on the participant. People who know about this area, know how to invest and make money. People take advantage of bitcoin to carry out illegal actions, money laundering, corruption, making them worse.

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