Bill Gates was talking on Reddit and he had an Ask Me Anything (AMA). A lot of people aren't happy about it because he said:
The main feature of cryptocurrencies is their anonymity. I don't think that is a good thing. The government's ability to find money laundering and tax evasion and terrorist funding is a good thing.
He further stated that:
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 wrong.
Let me give you a hint as to what part people didn't care for. The fact that he says that cryptocurrencies are directly linked to deaths in a fairly direct way. People took to social media and it's always funny because when you look around news, there's always one thing that kind of sticks out this was it today, people did not care for anything that he had to say especially because it's kind of weird because he has backed so many other blockchain projects and coins.
People were also talking about it on Twitter and stuff like that and some people were obviously really upset but in the end of it, a lot of people were saying when it comes down to it, he's a billionaire, he's made his money already, so this won't really affect him in ways that it could affect us.
So he's just kind of saying what he has to say because he's learned throughout his life that he has to play ball in order to make it to where he's made it. He knows about regulation and all that other stuff but it was just a huge crushing moment. So this isn't the point of why Bitcoin was kind of going down. Seems like people did not like Segwit nor there been anything that has been able to propel Bitcoin completely up.
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