Search This Blog

Bill Gates: Cryptocurrencies Causes deaths

The Microsoft co-founder and philanthropist Bill Gates has raised a debate on cryptocurrencies after he viewed his opinion on Reddit's 'Ask me anything' live show.

Responding to a reader's question “Whats your opinion on Crypto Currencies?[sic],“   he opposes the cryptocurrencies because they are killing people in “a fairly direct way”.

“The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing. The Governments ability to find money laundering and tax evasion and terrorist funding is a good thing."

"Right now cryptocurrencies 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 cryptocurrencies is super risky for those who go long.”

While some users express their disagreement to Gates on various social media websites.  "You know what else is used to fund terrorism, buy fentanyl and other drugs? The USD," the user wrote.

However back in 2014, Gate had said that he considers Bitcoin  “better than currency” in terms of ease of payment

CEO of a digital currency information firm CryptoCompare, Charles Hayter, has said that Gates' comments are true to some extent but slightly naive.

"Naturally, cryptocurrencies were given their first utility in the dark markets," Hayter said. "That trend is declining with the majority of business now legitimate and increasingly so. The dollar has had its fair share of direct deaths too and will continue to do so. We have to look beyond these initial trials and tribulations towards the potential for a dimensionless value transfer system."

Share it: