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.
Bill Gates Might Return To Microsoft? - 12/09/2011 01:17 PM
A article from Fortune surfaced just today (12/8), discussing the possible rumor of Bill Gates returning to the helm of Microsoft. According to Fortune a prominent chief executive heard from someone c...
Bill Gates | Jerry Seinfeld ads canned - 09/19/2008 03:55 AM
Apparantly the Bill Gates/Jerry Seinfeld Microsoft ads will stop running.
Bill Gates Retires leaves 33-year legacy - 06/28/2008 03:06 PM
Windows 7 arrives next year, says Bill Gates - 04/05/2008 02:49 PM
Microsoft Chairman Bill Gates on Friday indicated that Windows 7, the next major version of Windows, could come within the next year, far ahead of the development schedule previously indicated by the ...
Senior Member
Posts: 6073
Joined: 2011-01-02
That's pretty much what bitcoin was used for when it's started. Maybe this quote helps people recall it.
Senior Member
Posts: 3251
Joined: 2008-03-18
"Keep your transactions hidden and secure! Evade taxes! Buy or sell anything completely anonymously! Crypto!"
He is literally advertising it OMEGALUL
Senior Member
Posts: 3507
Joined: 2014-10-20
"Keep your transactions hidden and secure! Evade taxes! Buy or sell anything completely anonymously! Crypto!"
He is literally advertising it OMEGALUL
Yeah and if he won't talk about it, those things will magically fade in fairy world.....
Senior Member
Posts: 13311
Joined: 2014-07-21
I wonder who paid him to say that.
Also, I wonder if he never tried to avoid taxes, or succeeded in doing so, or the company he was more or less governing for years.
As they say, preaching water and drinking wine, most likely.
Senior Member
Posts: 328
Joined: 2013-03-06
Right now cash is used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way.
Legit argument.