After Coinbase announced it would comply with tax requests, the bad news for cryptocurrency users has continued. The latest indictment comes from Bill Gates, who warned against the rise of cryptocurrency in a recent Reddit AMA. In his response to a question, Gates explained that these currencies and the technology surrounding them was causing deaths “in a fairly direct way.”
Gates’ criticism of bitcoin and other cryptocurrencies was based around “anonymity,” and the Microsoft founder went on to explain why this was a bad 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.”
Recently, Bitcoin owners have reported thieves physical violence to get their hands on the cryptocurrency.