Bill Gates thinks 'Cryptocurrencies is killing people in a fairly direct way'
[3 min read]
It seems Bill Gates has shifted his views on Crypto Currencies. Just two years ago Bill Gates was talking about how exciting, cheap and comfortable Bitcoin transactions are. The past week crypto enthusiasts were shocked to read his new stand on Cryptocurrencies during a Reddit AMA stating he thinks '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.'
Just seconds afterwards the comments were flowing calling his statement a controversy and hypocrisy. Blaming Bitcoin for being anonymous and being a gateway for criminals or even terrorism is just nonsense. While we are at it, we should probably ban everything they use. The Internet they use to connect their wallets, the Windows, Keyboards and even desks.
It disappoints me seeing a brilliant man like Bill Gates talking the way he does about Cryptocurrencies in the post he made. Back when Bill founded Microsoft there was allot of skepticism about computers, privacy and social concerns. He should know blockchain is still in it's early stages and endorsement from a guy like him can change things.
Don't get me wrong, I do believe he technically has a point. Currently most cryptocurrency users are mostly anonymous and there are daily stories about thefts, blackmails, hacks, kidnapping and tax evasion but that didn't start since the creation of Bitcoin. Sure one might say it's easier to use Bitcoin for criminal activity but then again blockchain is also offering a solution to this problem. I expect the future to be fiat free with vendors accepting KYC wallets mostly which will probably solve most of these problems.
Defending his own interest.
Cryptocurrencies could also be against the interest of Microsoft stocks and Bill Gates as the face of it can't be too bullish on it yet.
In the end one thing is for sure, cryptocurrencies are not going anywhere, and seeing big players like Bill Gates, Jamie Dimon, Warren Buffet, Bank of America and JP Morgan all trying to trash on it won't change anything in the longrun. Pandora's box is open and it will not be closed so easily.
Sources:
Image[1] taken from Cointelegraph.com
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