Bill Gates opinion about Cryptocurrency

[mandisa]

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.

 

[stellarowl12]

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.

agreed, but is this Bill Gates' opinion as well? I havent heard him say that but you may be right

 

[Adriaan Admin]

agreed, but is this Bill Gates' opinion as well? I havent heard him say that but you may be right

I believe either Bill Gates or Warren Buffett have said something like this. Do you even agree with that statement stellarowl12? First of all: bitcoin is not anonymous at all; it is pseudonymous and because of the increasing ability to analyze blockchains transactions, even less criminals are using it, but it is used for more and more legit purposes. And the fact that criminals use a technology does not mean the technology is bad, or else a lot of other technologies like cars, planes and cell phones are bad too. Of course ICOs have been very risky but that is really a symptom of the whole cryptocurrency space that will heal itself after people lose interest (after it renders unprofitable) and regulation catches up. Government protection for everything does not empower people, it actually weakens them and makes them dumber, which ends up in a vicious cycle where they need more government control, the government gets more power, and the power will corrupt, which usually leads to authoritarian states. The fact that people can leverage some monetary power with (privacy) cryptocurrency, means they have a way out of the system which will keep the system and its powers in check; AND THAT'S A GOOD THING!!

 

[CryptoHenry81]

If BTC somehow collapsed along with other cryptocurrencies, in fact someone with great authority could create their own currency. The world has shown that he is interested in such options.

 

[Adriaan Admin]

If Bitcoin with other cryptocurrencies collapse, it is going to be very hard for any one to start a digital currency again. Any currency not controlled by government that is not decentralized, will not be able to survive, because the central authority will be the choking point when the government wants to bring it down

 

[icoinvest]

If Bitcoin with other cryptocurrencies collapse, it is going to be very hard for any one to start a digital currency again. Any currency not controlled by government that is not decentralized, will not be able to survive, because the central authority will be the choking point when the government wants to bring it down

He is very right about that. Authority and great money alone are not enough then.

 

[Adriaan Admin]

Bitcoin (and other decentralized cryptocurrencies,but most importantly bitcoin) is critical for the survival of cryptocurrency. ANd it can only survive if it stays sufficiently decentralized and censorship resistant, and governments and other groups will try to take it down once it gains more and more influence on the world economy, which is exactly why decentralization and NOT having a central authority is essential. If bitcoin loses the battle, we will be condemned to a fully digitalized, PERMISSIONED, CENSORED, FIAT currency system, that has no opt-out and full control of everything and everyone!