Bill Gates says Cryptocurrencies are leading to “death” and are very risky

by do son · Published · Updated

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In a recent Reddit AMA, Microsoft founder Bill Gates said that cryptocurrency is leading to “death,” because its anonymity makes it easier to buy controlled drugs such as fentanyl. Gates also said that speculation around the cryptocurrency more and more, they are becoming a very risky investment.

In AMA, Reddit user Askur1337 asks Gates: What do you think of cryptocurrencies?

Bill Gates response:

“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.”

Some Reddit users do not like Gates’s response. User Suuperdad wrote: ”

you know what else is used to fund terrorism, buy fentanyl and other drugs? The USD.” Another user hinted that Microsoft’s Windows is also used to fund terrorist activity and drug trafficking. User Always_Question jokes: “Terrorists breath air too, so we should ban that. Tennis shoes as well.”

Of course, Bill Gates is not the only critic of cryptocurrencies. Many economists and business people have not stopped criticizing it, the most serious being from Nobel laureate Joseph Stiglitz, who said Bitcoin should be banned altogether. ” Bitcoin’s success is simply because it can be used to evade legal regulation and it does not have any socially useful function .”

Nobel Prize winner Joseph Stiglitz CEOs at Goldman Sachs and JPMorgan think Bitcoin is “cheating” and Buffett warned it was “a real bubble.”

Few governments have embraced the development of cryptocurrencies such as bitcoin, possibly with the exception of Japan, where most countries have declared that they want to tighten their regulation and issue warnings to investors, while China has completely banned.

No matter what the future fate of cryptocurrencies, the blockchain technology that supports them should always be there. Many believe the blockchain is actually more valuable than these hyped cryptocurrencies because of the potential for changing the future of global commerce and financial transactions.

Tags: cryptocurrencies