applancer Advertise

Bill Gates says cryptocurrency is 'a rare technology that has caused deaths in a fairly direct way'


Feb 28, 2018 Posted /  4478 Views


Bill Gates says cryptocurrency is 'a rare technology that has caused deaths in a fairly direct way'

As of now, we are clear that Bill Gates does not support cryptocurrencies at all. In a Reddit AMA yesterday, the world's richest man and co-founder of Microsoft commented that a not so "good thing" about the cryptocurrencies is the anonymity on which these currencies are built. He further added that society could only benefit when governments can identify money launderers, tax-evaders and the people supporting and financing terrorists.

Gates wrote in the forum that "The main feature of cryptocurrencies is their anonymity. I don't think this is a good thing. The Governments [sic] ability to find money laundering and tax evasion and terrorist funding is a good thing."

He further appended a rather cruel remark that cryptocurrency has straightforwardly caused deaths. He meant that the virtual currency has been reasonably susceptible to drugs, which are now readily bought and sold using digital currencies.

Gates remarked cryptocurrency has "caused deaths in a fairly direct way," He further added, "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."

A Reddit user responded to his post by saying that one can buy Fentanyl with Cash and Gates was immediate to defend by adding to his primary contention that if you are out to do something illicit with cash, you need to be physically present for that purpose.

" Yes - anonymous cash is used for these kinds of things, but you have to be physically present to transfer it which makes things like kidnapping payments more difficult," he said.

If you ask any cryptocurrency enthusiast, they favor the currency because of the features of anonymity and decentralization only. According to them, these are some things that make cryptos a compelling zone along with immediate money transfers. This suggests that Gates' comments are expected to be engaged with opposition from the cryptocurrency realm.

You can read Gates' entire and original comment below.

"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."


Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

For more details on how you can submit an opinion or any news , view our Editorial Policy or email [email protected].


Tags: Cryptocurrencies feature of cryptocurrencies

Hottest Blockchain Newsletter

For updates and exclusive offers, enter your e-mail below.