Is Bill Gates Out of His Mind? ´cryptocurrencies have 'caused deaths in a fairly direct way'
I respect and admire Bill Gates a lot due to his innovative mind, big heart and wisdom. Moreover, Bill Gates has supported some cryptocurrencies projects (ripple for example) and earlier, said some nice things about bitcoin and its technology. However , has he joined the fuders and haters bandwagon? I will remiss if I claim that blockchain technology which is a new technology is not with some limitations- which will be improved, however the advantages the common people are enjoying surpasses the few limitations.
According to an article in theguardian,
Microsoft founder slams digital currencies as Apple co-founder Steve Wozniak reveals he was victim of bitcoin scam
Speaking during a Reddit AMA, Gates argued that “the government’s 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.” In contrast to cash, which is also untraceable, cryptocurrencies can be used remotely, which removes another avenue of control, he added. Gates also suggested that investing in the sector is a bad idea: “I think the speculative wave around ICOs and cryptocurrencies is super risky”
In light of the afore-mentioned assertion, I agree that there are some limitations with regard to untraceable transactions- however that is what many crypto projects are all about (anonymity and freedom ) including bitcoin. Here are some few points:
Central Governments ,Banks and Big Corporations: Central governments , banks and big corporations are the real causes of deaths in our societies either directly (sponsoring wars, drug experiments , guns / arms dealing, dumping mechanism etc) or indirectly through their greed and governmental control . Moreover, Bill Gates aim might be to at least join his friend fud /hate bandwagon (Warren Buffet) against cryptocurrency-however we will stay strong as a united family and fight against it.
Do you agree with Bill Gates assertion? Send in your comments and or suggestions-resteem in order for others to join and upvote in order to send in your support.
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I wrote a detailed rebuttal to his drivel here
Very good analysis of the issue, upped.
Bill Gates and Warren Buffett are the same people.
Ohh NSA , you are part of the government ..Lol
If you act and talk crazy then people will mistakenly term you as a crazy man/woman. His comment has a crazy tone and agenda in it...even his Softwares and gadgets have limitations that are harmful to humanity..cryptos are here to stay Billy-with all due respect. Thanks for a great post, upped 100%
Your points are good, thanks for your comment
I respect Bill Gates too but I guess they are different ways to look at this. To say they cause death directly is to be very reckless, people don't take drugs because bitcoin exists. people have been dying of overdoses before the creation of cryptocuerencies.
Bill knows that. If all cryptocuerencies were not available today would drug related deaths end. I don't think so. Bill Gates is an intelligent man he knows that. i would argue more people buy drugs using a windows pc than cryptocuerencies does that mean its directly causing death.
I find it hard to believe that Bill Gates believes the garbage he was saying because he's an intelligent man. I believe there is an ulterior motive. We'll know of it soon.
i do agree with the party about cryptocuerencies being highly speculative and risky. I personaly got burned in investing in small alt coins. I would advise people not to invest in any project without proper research.
Good points indeed, thanks for your comment
I agree. We could also blame banks for all those things. Since those who are using drugs, selling weapons etc. are using also cash that is being printed by banks.
He's not out of his mind, he's just self-interested.
Most of his wealth is tied up in Microsoft, one of the top 5 companies in the world by market-cap....
Like any company, the value of shares are partially based on confidence in future earnings and there's only one effect mass adoption of blockchain technology is going to have on the value of Microsoft, and it ain't going to be positive!
Let's face its, mass investement in the crypto sphere would dampen mainstream corporate growth, and doubly/ trebley/ quintuplely with a tech company given the possible disruption in how software innovation is going to be rewarded through decentralised distrubution ledgers...
FUD (and the whole DEATH thing is a pretty desperate example) is a completely rational strategy for Gates because in the blockchain age, it's highly unlikely that the money's going to be gushing in his direction anymore!
I say rational response.... only in one sense... I'd like to see him prove the causal links in his analysis. It'd be easier to prove that GTA 'causes' mass shootings.
Very good analysis of the situation, thanks a lot for your comment.
Bill The Shill
why?
An interesting read, I am really surprised by Bill's world. I'd say, the potential for wealth distribution or democratization shout be scary to those that have acquired vast amounts of it. What I love about technology is that it levels the playing field and the emergence of decentralized technologies should make them scared for only now does it become apparent that we are all the same. Gone is the age of nobles and first class. What invalidates his argument is that all forms of technology are neutral and therefore is dependent on how one chooses to use it but if this is how we are to think, then Windows too much be shut down for all the harm done on it.
Good Point indeed, thanks
I disagree with bill gate statement. Crypto such as Steemit helps people a lot for an alternative digital earning improving the quality of life. If people will commit crime anywhere not only in crypto.
Good point, I agree. Thanks for your comment
yes, you're right on this point
why? explain please
Hello @charles1
Bill saying that about Cryptocurrencies is like Satoshi claiming that Windows is responsible for cyber crimes as majority of the world use Gates software.
Human will always be Humans. I for one believe that technology does not change us, it only exposes our innate nature and character.
Just like you, I was surprised that Gates will say such a thing as I have already marked him as a believer of the power of the Blockchain.
He may had much that statement out of pressure and it is his future actions that will show where his beliefs lie.
P.S I would like to have a chat with you on an Important matter. Where can I reach you ?
@ogochukwu
#blockchain-blogger
Very good point indeed, I agree. You can reach me on steemit chat :charles1
Short answer, yes he is.
Hahahaha, I think that there is a hidden agenda in his fud..hahaha
Seems to me the establishment just doesn’t like the whole crypto currency movement at least, maybe becu#e the control it? And fear that lack of control...
Good point, thanks for your comment