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Bill Gates: Cryptocurrencies are killing people
The former Microsoft CEO Bill Gates said cryptocurrencies technology "has caused deaths in a fairly direct way.". He seemed particularly concerned with whether the blockchain revolution is mostly revolutionizing financial crime, terrorism, and drug dealing, thus killing people “in a fairly direct way”
As noted by CNBC, during a Reddit “Ask Me Anything” session on Tuesday, Gates explained that he thinks cryptocurrency is really bad because it aids and abets people who want to keep their financial transactions hidden from the government:
The main feature of crypto currencies 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 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.
Bitcoin is too hot for criminals, and also in part because authorities are starting to get a lot better at tracking down and busting criminals who try to anonymize themselves with crypto. There’s the fact that some of the crimes to which Gates alluded, like drug dealing and terrorism, have an irreplaceable physical element. If you’re a drug dealer or a terrorist, at some point you’re going to have to lug actual drugs or guns or bombs around, and payment or funding is only one part of the equation as to how the police can track you down.
"The main feature of cryptocurrencies is their anonymity. I don't think this is a good thing," he said. "The Governments [sic] 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 [initial coin offerings] and cryptocurrencies is super risky for those who go long," Gates added.
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fantaskarsef
Senior Member
Posts: 12981
Joined: 2014-07-21
Senior Member
Posts: 12981
Joined: 2014-07-21
#5524269 Posted on: 03/01/2018 10:48 AM
This is hilarious on so many levels...
The terrorism... The very government he speaks about has been the biggest terrorist under the Sun for quite some time.
Tax evasion. Bill should know, because his trademark company, Microsoft, is an expert in this field.
Speculative financial practices. Look no further than the traditional financial institutions. Who the fuk brought down the economy in 2008? Crypto? yeah right.../s
How about another sh1ty financial practice, high-frequency trading? Oh but HTT is good, because it brings sh1tload of money for Microsoft.
Using crypto to buy drugs. How the fuk did the druggies and the drug lords manage be4 crypto? MMmmmaybe using ordinary mmmmoney? Is money bad? Ban money!
You can buy million things with crypto. But because you can buy one bad thing, that means crypto is BAD!
WTF is wrong with this guy. I expect this kind of silliness from the bottom feeders, not from Bill effin gates.
He probably received a few hundred coins for that, that's why
This is hilarious on so many levels...
The terrorism... The very government he speaks about has been the biggest terrorist under the Sun for quite some time.
Tax evasion. Bill should know, because his trademark company, Microsoft, is an expert in this field.
Speculative financial practices. Look no further than the traditional financial institutions. Who the fuk brought down the economy in 2008? Crypto? yeah right.../s
How about another sh1ty financial practice, high-frequency trading? Oh but HTT is good, because it brings sh1tload of money for Microsoft.
Using crypto to buy drugs. How the fuk did the druggies and the drug lords manage be4 crypto? MMmmmaybe using ordinary mmmmoney? Is money bad? Ban money!
You can buy million things with crypto. But because you can buy one bad thing, that means crypto is BAD!
WTF is wrong with this guy. I expect this kind of silliness from the bottom feeders, not from Bill effin gates.
He probably received a few hundred coins for that, that's why
m4dn355
Senior Member
Posts: 253
Joined: 2007-06-15
Senior Member
Posts: 253
Joined: 2007-06-15
#5524271 Posted on: 03/01/2018 11:05 AM
Coming from a man, whose company is cherishing people. . .
Coming from a man, whose company is cherishing people. . .
sverek
Senior Member
Posts: 6073
Joined: 2011-01-02
Senior Member
Posts: 6073
Joined: 2011-01-02
#5524272 Posted on: 03/01/2018 11:06 AM
You guys missing the point that he actually got caught with tax evasion. Dude got his ass handed back to him.
So if there higher risk to get caught using cash, maybe it worth trying bitcoins.
Just saying. Bill did many mistakes in past, hopefully he learned from it and actually saying something worth listening to. He is no longer working in M$ and has less to do with it.
He is trying to make this world a better place. See his efforts and donations.
And you can't deny a fact that bitcoin makes shady deals way easier with less risk. Love it, hate it, this is what it is.
Anyway, I have nothing against bitcoins. But it is a tool that provides more possibilities. Bill mentioned dark side of it.
You guys missing the point that he actually got caught with tax evasion. Dude got his ass handed back to him.
So if there higher risk to get caught using cash, maybe it worth trying bitcoins.
Just saying. Bill did many mistakes in past, hopefully he learned from it and actually saying something worth listening to. He is no longer working in M$ and has less to do with it.
He is trying to make this world a better place. See his efforts and donations.
And you can't deny a fact that bitcoin makes shady deals way easier with less risk. Love it, hate it, this is what it is.
Anyway, I have nothing against bitcoins. But it is a tool that provides more possibilities. Bill mentioned dark side of it.
Tripkebab
Senior Member
Posts: 144
Joined: 2011-01-30
Senior Member
Posts: 144
Joined: 2011-01-30
#5524285 Posted on: 03/01/2018 11:55 AM
Pretty sure that Windows pretty much directly facilitates illegal activities by providing a front end to carry out these tasks. Perhaps the internet is also bad thing.
Pretty sure that Windows pretty much directly facilitates illegal activities by providing a front end to carry out these tasks. Perhaps the internet is also bad thing.
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Senior Member
Posts: 8185
Joined: 2010-11-16
This is hilarious on so many levels...
The terrorism... The very government he speaks about has been the biggest terrorist under the Sun for quite some time.
Tax evasion. Bill should know, because his trademark company, Microsoft, is an expert in this field.
Speculative financial practices. Look no further than the traditional financial institutions. Who the fuk brought down the economy in 2008? Crypto? yeah right.../s
How about another sh1ty financial practice, high-frequency trading? Oh but HTT is good, because it brings sh1tload of money for Microsoft.
Using crypto to buy drugs. How the fuk did the druggies and the drug lords manage be4 crypto? MMmmmaybe using ordinary mmmmoney? Is money bad? Ban money!
You can buy million things with crypto. But because you can buy one bad thing, that means crypto is BAD!
WTF is wrong with this guy. I expect this kind of silliness from the bottom feeders, not from Bill effin gates.