Why Bill Gates Is Wrong about Cryptocurrencies

When a successful person like Bill Gates comments on a topic, it can affect many. But is it really acceptable for successful people to talk about everything just because they are successful? Definitely not. Here are reasons Bill Gates is wrong about digital currencies, at least this time.

“The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing. 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. I think the speculative wave around ICOs, and cryptocurrencies is super risky for those who go long.”

These are Bill Gates’s statements on cryptocurrencies. you can see how negative he thinks about the breakthrough but why he is wrong?

Anonymity is the main feature of cryptocurrency.

Actually, bitcoin has been criticized for being transparent and accessible.

Buying drugs with bitcoin is leading to deaths.

Criminals use anything to do their activity. Microsoft Windows OS, for instance.

So, bitcoin contributes as much to the death toll from criminal activity as Windows does.

The government’s ability to find money laundering, tax evasion and terrorist funding is a good thing.

Governments themselves run giant money scams, extract nominal fees from banks that launder money, fund terrorists around the world.