Title: Bill Gates' Perspective On Cryptocurrencies
Headings: Bill Gates’ Perspective on Cryptocurrency
Bill Gates’ Perspective on Cryptocurrency
“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘the greater fool theory’ type of investment,”
“You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks he’s going to find someone that’s going to pay more.”
“Yes, I am a fool for buying this asset right now, but I’m convinced i’ll find a greater fool to sell it to later on for more”
“Bitcoin and ICOs, I believe completely [they’re some] of the crazier, speculative things”
“Yes – anonymous cash is used for these kinds of things but you have to be physically present to transfer it which makes things like kidnapping payments more difficult”
“Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient,”
“There’s some really good technology in terms of sharing databases and verifying transactions that is talked about as blockchain, that is a good thing,”

Content: In 2017 for instance, the United States Department of Justice listed several deaths related to fentanyl. At the same time, the department of justice promised to shut down AlphaBay, a darknet market. When a commentator told Bill Gates that the US physical dollar is also used in global trade deals; he suggested that anonymous cryptocurrencies make such criminal dealings more efficient and difficult for authorities to track. “Yes – anonymous cash is used for these kinds of things but you have to be physically present to transfer it which makes things like kidnapping payments more difficult”
Meanwhile, Gates has a point about these criminal dealings. For instance, Bitcoin makes it easy for criminals to collect ransom anonymously. They don’t have to physically or virtually represent their identity. Hackers are also penetrating into exchanges and crypto wallets only to get away with massive amounts of money. Of course, all these represent the downsides of cryptocurrencies just as there are downsides with other technologies. Gates’s only bitcoin problem and its effect is the privacy that technology offers.