Bill Gates has made his billions over the last 40 years without needing Bitcoin.
...he claims that cryptocurrency "...it is a rare technology that has caused deaths in a fairly direct way"
When someone famous, rich, and popular, and technology friendly says something about cryptocurrency, we should listen right?
YES?
NOT WHEN THEY SAY SOMETHING STUPID.
That includes Bill Gates.
Many news articles Feb 2018 like this one are quoting what Bill Gates said:
Bill Gates says the "main feature of crypto currencies is their anonymity. I don't think this is a good thing"
Let's investigate what else has caused deaths in a fairly direct way..
-- Any, and all fiat currency (see cash)
Bitcoin, and cryptocurrency is not any more dangerous than fiat money (aka CASH).
Bill Gates says "The Governments ability to find money laundering and tax evasion and terrorist funding is a good thing."
People might say "well cash, you actually have to hand it to someone". Do you?
REALLY?
Did you know that 9/11 happened in New York city "BEFORE" Bitcoin was invented?
Al Capone was a massive gangster "BEFORE" Bitcoin was invented
O.J. Simpson allegedly killed Nicole Brown and Ron Goldman "BEFORE" Bitcoin was invented
...and I know it's hard to believe, but HITLER did what he did "BEFORE" Bitcoin was invented.
Anonymity and Bitcoin don't "create" crime. It's always been here. Crime is going to happen every single day, and the tools may change, but the tools are not the problem.
It's time to focus on the real problem (and not trying to focus on tools)
.. A bar of soap can be a weapon (See 1988 article)
...A pair of sweat pants can kill someone too (See 2006 article)
..Bill Gates says cryptocurrency can cause deaths...
...well Microsoft Windows based computers and services are used in the execution of crime all the time. like this
...how many murderers, rapists, serial-killers, or terrorists used a Microsoft product?
Should we ban all Microsoft products since they too "can provide anonymity" ?
What Bill Gates said, is nothing more than a cheap, not well thought out, off-the-cuff remark. Unfortunately it has now gone viral with mainstream media and is being cheerleaded as the newest headline to people all over the world.
That was irresponsible of Bill Gates, who is only 62 years old, and should know better.
What do you think? Do we blame tools that could be used for crime, like soap, sweatpants, or Windows computers?
- ...or do we focus on the criminals themselves?
Well well. I think his answer is not very well thought. Lets not bring it down to windows. What BG achieved with his OS those days is brilliant no matter where it stands today.
The concept behind a blockchain is often misunderstood. A transaction or a crypto transfer is not anomymous. It is public and everyone, i repeat everyone, could read it by just reading the blockchain.
J
This is a great point @jjb777
Maybe the source "person" and destination "person" are anonymous on a blockchain, but at least the value of the transactions are visible by everyone.
So the whole point about Bitcoin being more anonymous than cash transactions is not true. There is no blockchain with cash-to-cash transfers, and that is even more anonymous than Bitcoin.
So what the heck is government complaining about in the first place? Or even Bill Gates for that matter?
Yea. Call it manipulation ;-) but crypto is badass stuff. Unfortunately its in many ppls head that drug dealers and weapon sellers use it. People tend to believe everything that is written down in newspapers.
Why should govs actually not be interested in crypto? Im sure u know. They fear it. They know every cent that is on your bank account but the money people invest in crypto can be hidden. Also it might be a big change in the current economic system. Theres much more to discuss.
Just my opinion.
J7
I don't know why the hell he said that..
Someone like him shouldn't make stupid statements like these.
He sounded like a child crying because somebody got a better toy
If you read his book, you will find out he isn´t the nicest person in the world. He sacrificed the friends and business partners that believed him and supported him in the company. He forced them to sell there stocks to him. You don´t become successful by just being a good guy.
Whether he likes it or not cryptocurrency has helped so many life and will continue to do so course a lot of youth have been self employed through crypto currency
Cryptocurrency is the future, and whether or not everyone likes it, it just is...
I like your comment. :)
thanks man the world will be a better place with crptocurrency
i read in a comment why bill gates said something like that...
..the answer is very simple ...he said something like that cause at the moment he doesn't make any money out of crypto...if he starts making money out of crypto world then he will see the humanitarian aspect of cryptocurrency and how crypto can improve peoples life...till then!!!!.....crypto is an awful crime!!!...correct intelliguy???
By the way... it was quite interesting that the mainstream media didn't really focus on fentanyl at all. Just how cryptocurrency causes direct deaths. What a biased agenda, right?
unbelievable....you have all the right of the world ( if i can put it this way,in my language makes sense) ...i'm sure for one thing....these kind of people never say something for the sake of speaking...every little word that they use they do it for a reason...something lies behind their innocent words....and if this is the case with fentanyl i'm sure this is one of the reasons mr Gates is upset....you talking about biased agendas.. let me use a greek word to describe it...what kind of hypocrisy covers their lives!!!!! ...:) :) :)
No, it goes much deeper. Notice he used the drug name fentanyl specifically. Well if you look deeper the Gates and Melinda foundation invests in drug companies. Specifically one that was bought out by Johnson and Johnson (which they invested in) where fentanyl was originally invented.
About a a half an hour of research on Wikipedia will show you that China has been moving more illegitimate fentanyl into the USA than other country. He's probably heard that Bitcoin is one avenue to finance those operations.
So it goes on and on... the rabbit hole for his reasons goes quite deep if anyone wants to reverse engineer why he said it.
Either way, Bitcoin and cryptocurrency isn't to blame. It's just a tool, and anyone that thinks a tool is to blame for any or all evil in the world, that person becomes a tool (which is slang for idiot).
Read this slang definition of a tool -- and think of Bill Gates when reading it.
I like how you pointed these out. Crime would be perpetrated with or without the bitcoin, the cryptocurrency does not in any way influence crime. Before the advent computers, there was nothing like cyber crime or credit card frauds. But has this in any way wiped out the greater benefits of computers?
No
Every time something goes viral with mainstream media (in regards to cryptocurrencies), I just go the other direction. This strategy has worked for me so far. I agree that this comment by Bill Gates was likely off-the-cuff, and not very well thought out. It will likely be just another footnote on the winding road towards global adoption of cryptocurrencies and the changing of the guard.
these are all valid points. But trump did come to power while bitcoin was around. COINcidence?? I think not.
jokes aside a always find it funny what arguments these so called clever people are using.. complete lack of perspective.
Tfw smart people can still say stupid things. I think it's fair to point out that anonymity can be used maliciously, but the way he said it sounds like there's nothing to cryptocurrencies other than anonymity, which is obviously not the case. Stuff like low or no transaction fees, quick transactions that don't rely on a middle man, alternative adaptations of the blockchain technology like with Steem, all that you can't simply ignore. Additionally anonymity can be really good too, for instance protecting each participant from direct attacks by others. In the end you can't really have innovation without people figuring out how to abuse said innovation for their own and possibly harmful purposes.
I do wonder how many human lives were ended due to Windows Updates alone. ¬_¬
I am actually genuinely curious about this one.
And yes, the argument made by Bill Gates is weak at best.
And why the hell did he say that ?
He's a rational person and look with irrational thoughts.
Doesn't computer do the same while aiding in almost all of the criminal activities.
You are right! Maybe we should ban computers too.