Bill Gates Thinks Cryptocurrencies Are Deadly!

February 28, 2018 by Adrian Thorpe

Bill GatesMulti-billionaire Bill Gates has chosen to come out and declare that cryptocurrencies are deadly, and he is totally against the concept of them and the way that they allow anyone to send payments completely anonymously online.

Whilst it is not the first time he has voiced and opinion on cryptocurrencies, however previously he has a less dramatic outlook on them, in fact it wasn’t that long ago that he called them a techno tour de force.

It was during a session on Reddit on which anyone could ask him anything and he then chose which questions to answer that he said that cryptocurrencies had caused direct deaths, due to the way that drugs can be purchased so easily online with them.

It would appear that it is the nature of the anonymous payments that he is most concerned about, and he is now of the mind that they are “not a good thing”, to quote his own words.

He continued to mention drugs that could be bought using cryptocurrencies and suggested that a lot of lives could have been saved if cryptocurrencies had not come along, but he didn’t stop there with his attack on them, for he then went onto mention that ICO’s were another offshoot of cryptocurrencies and they were super risky for those who do invest in them.

Whilst there is no doubt that some people may be buying drugs with cryptocurrencies, I am prepared to bet that it is now just a tiny percentage of users who are, and once must wonder why he is being so outspoken on them.

The Super Rich are not all against Cryptocurrencies

Whist Gates would appear to have a bee in his bonnet so to speak about cryptocurrencies, one has to wonder if there is some ulterior motive behind him being so against them, for there are many millionaires and billionaires out there who are more than happy to invest in cryptocurrencies.

Sir Richard Branson has of course gone on record to say that anyone wishing to travel into space on his Virgin Galactic spacecraft could pay for their ticket using Bitcoin.

Also the cast of investors on Sharks Tank, those being Mark Cuban, Diamond John, Kevin O’Leary and Robert Herjavec, have also all given their own views on Bitcoin and other cryptocurrencies, and not all of them are against them.

But I doubt that most people would know where to look online for illegal drugs to buy, nor would they be interested in using their cryptocurrency holdings to buy drugs, but there will always be people who do and there will always be people that look at cryptocurrencies as a way for them to move money around illegally and in an untraceable way.

At the end of the day though there is nothing that Bill Gates or anyone else for that matter can do about the rise in popularity of cryptocurrencies, and they are certainly going to be here for the long term, whether he likes it or not.

Still No Way of Regulating Cryptocurrencies

There have of course been attempts by some governments of certain countries that have been against cryptocurrencies and have been looking at ways they can either regulate them or in the case of China ban them, but let’s face it there is no way they can do so.

Whilst they can have some impact and have the ability of banning digital currency exchanges from within their shores, and could attempt to stop their citizens visiting certain cryptocurrency related websites, there are always going to be ways people can work around those restrictions.

It reminds me of the early 1990’s when online gaming first appeared and became available, many of the companies that operated betting sites, casinos and poker sites online simply moved to an offshore locations and one that embraced the concept and also earned a minimum licensing type fee off the operators of those sites, which was a handy source of revenue for those small nations.

If you are worried about the legality of cryptocurrencies then at the end of the day it is down to you and you alone whether you do invest in any.

But if you are prepared to invest in an ICO or token generation event and you are using your own money and are aware of the risks then you are doing nothing wrong and will have nothing to worry about, other than the risks associated with those investments.