Bill Gates returned (once again) to Reddit to participate in a new "Ask Me Anything". His exchange with users touched on topics ranging from ecology to his time at Microsoft, including medicine and the effects of automation. One question simply asked the philanthropist for his opinion on cryptocurrencies, and the answer became what is probably one of the harshest criticisms they have received so far. In essence, Gates said that the anonymous nature of cryptocurrencies is not a good thing, and that their technology is causing deaths directly.
Cryptocurrencies. Some governments try to limit and/or prohibit their circulation. Others are willing to issue their own variants to raise funds. In the middle, we have people who made a lot of money by getting out before the massive "dump" that crashed prices, angry gamers over the drastic increase in graphics card prices, dubious ICOs, and more. Today the market suggests a period of relative calm, with Bitcoin floating at $10,600, Ethereum averaging $850, and Monero near $300. As usual, the main representatives of the "traditional" economy criticize cryptocurrencies whenever they get the chance, but yesterday a new voice joined: Bill Gates.
During the latest "Ask Me Anything" on Reddit, the user Askur1337 asked Gates for his opinion about cryptocurrencies, and this was the response:
"The main characteristic of cryptocurrencies is their anonymity. I don't think that's a good thing. The ability of governments to find money laundering, tax evasion, and terrorist financing is a good thing. Right now cryptocurrencies are used to buy fentanyl and other drugs, so it's a strange technology that has caused deaths in a fairly direct way."
He also added that the speculative wave of ICOs and cryptocurrencies in general is "super risky" for those who invest and remain in that market.
Most participants in the AMA saw Gates's response as very positive, and from a certain point of view, he's not wrong. 46% of all ICOs organized last year ended in failure (either because they didn't raise the necessary amount, or because their creators took the cryptocurrencies and fled), a number that rises to 59% if you count those ICOs that show all signs of an imminent failure. Others came out saying that cryptocurrencies are not as anonymous as they seem, and then there are the most angry, who countered with classic ammunition: the most used currency to buy drugs and finance terrorists is the US dollar. Beyond whatever position we take, the entire AMA is unmissable, and we recommend visiting it.
