Bitcoin is DEADLY

Bitcoin is DEADLY

‘Bitcoin is DEADLY’ Billionaire Bill Gates BLASTS cryptocurrency for DRUG trade

BILL Gates has railed against cryptocurrencies for anonymous payments because they make it difficult for law enforcement and help propagate the deadly drug trade, it has been revealed.


Mr Gates has commented on Bitcoin several times throughout its existence and in the past he called it a “techno tour de force”.

But during an “ask me anything” discussion on the social media platform Reddit, the tycoon blasted cryptocurrencies for causing “direct deaths” as a result of the illicit drug industry.

He said: “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.”

Fentanyl is an opioid which is used as a pain medication but has recently been linked to deaths after it has been found laced in street heroin.

It is much stronger than heroin and is considered to be much more lethal.

One Redditor pointed out that physical US dollars are also used in the global drug trade.

But Mr Gates said that anonymous e-cash has the potential to make criminal dealings more efficient.

He added: “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 has made it easier to profit from certain types of crime.

For example, it is easier to collect a ransom from someone if you do not have to show up in person to collect the cash.

Bitcoin has also been used by hackers to install ransomware on victims’ computers to profit from their malicious activity.

The cryptocurrency is not entirely anonymous in its current state, but there are proposals for adding a better privacy system in the future