Skip to main content

Bill Gates: cryptocurrencies have 'caused deaths in a fairly direct way'

By
Bill Gates, the philanthropist and former chief executive of Microsoft, is concerned by the crytocurrency craze, saying that the anonymity offered by the new technology has “caused deaths in a fairly direct way”.

Speaking during a Reddit AMA, Gates argued that “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.” In contrast to cash, which is also untraceable, cryptocurrencies can be used remotely, which removes another avenue of control, he added.

Gates also suggested that investing in the sector is a bad idea: “I think the speculative wave around ICOs and cryptocurrencies is super risky”.
In the group interview, Gates had harsh words for some other speculative technologies. Elon Musk’s Hyperloop concept, for instance, which involves using a railgun to fire a passenger compartment down a low-pressure tube at speeds of several hundred miles per hour, was dismissed: “I am not sure the Hyperloop concept makes sense,” he said. “Making it safe is hard.”


Source :- theguardian
Labels:

Comments

Post a Comment

Popular posts from this blog

Legal Protection for Foreign Direct Investments

By
  homepage    For solid and consistent in progression of Foreign Direct Investments (FDIs) to Nigeria, the nation has throughout the long term set up cordial lawful system for Foreign Direct Investments (FDIs) insurance.  In this Foreign Investors' Guidelines for Doing Business in Nigeria Series, we will inspect the lawful systems set up to support an expanding FDIs inflow and guaranteeing unfamiliar financial backers' trust in the country.  here We will examine unfamiliar financial backers' securities going from assurance of arbitral procedures and other debate goal systems in the country.  The reality with present day financial frameworks is that no nation can be an island monetarily; Foreign Direct Investment (FDI) security is extremely vital for the effective achievement of unfamiliar financial backers' business objective(s) and monetary advancement of any economy.   redstateinvesting There are steps that have nations can legitimately take in ...
Post a Comment
Read more

The Recap: sign up for the best of the Guardian's sport coverage

By
Let our team of editors be your guide to the best of the Guardian’s award-winning sport coverage from the past week. We’ll email you the stand-out features and interviews, insightful analysis and highlights from the archive, plus films, podcasts, galleries and more – all arriving in your inbox at 12pm every Friday. And we’ll tee you up for the weekend and let you know our live coverage plans so you won’t miss a thing. Source :- theguardian
Post a Comment
Read more

FIA’s Jean Todt defends Halo F1 system from ‘childish’ Toto Wolff criticism

By
The president of the FIA, Jean Todt, has issued a robust defence of his organisation’s decision to impose the Halo cockpit protection system on Formula One this season. Todt dismissed criticism from the Mercedes executive director, Toto Wolff, as “childish” and stressed that the FIA would not shy away from making difficult decisions in the interests of safety. The Halo device will make its race debut at the opening round in Melbourne but has attracted criticism on aesthetic grounds and because it is in contradiction of the spirit of an open-cockpit series. Mercedes confidence is an ominous sign after Barcelona F1 testing | Giles Richards Read more Wolff has said he would remove it with a chainsaw if given the opportunity but Todt rejected his stance. “I will not react to whatever has been said. It is simply a childish game,” he said. “It’s very inappropriate, whoever you are, to publicly deny something which is introduced. For me, constructive criticism is always good because it makes ...
Post a Comment
Read more