Bill Gates: Virtual Currency is Bad for Humans

Mr. Microsoft, Bill Gates said if cryptocurrency or virtual currency is very bad. It was delivered in the session "Ask Me Anything" which was held in the Reddit forum, Tuesday (27/2/2018). According to the co-founder of Microsoft, cryptocurrency such as bitcoin, ethereum, ripple and others help people to conspire in covering the financial transactions of the country. Gates regretted the abused blockchain revolution for criminal acts of finance, terrorism, and drug trafficking. "Currently cryptocurrency is used to buy fentanyl and other illegal drugs, it is a rare technology that can cause death indirectly," Gates explained.

Gates's opinion is not entirely wrong. Some state authorities claim that the virtual currency is often misused to fund a number of criminal actions such as money laundering or terrorism. The main feature of cryptocurrency is anonymous, technically a digital money transfer will be difficult to trace over large amounts of cash transfers secretly. Cash transactions in large nominals will arouse suspicion from the financial authorities. Variety of other virtual currencies, monero is also vulnerable to use for criminal transactions. Monero who lost popularity from bitcoin or other virtual currency makes the movement of state agencies more difficult to track monero transactions. Currently, the authorities have been able to suppress the dark activity of cryptocurrency by finding the exchange point of blockchain to the real world, such as the exchange of tokens to cash. In some developed countries, criminal action takes place quite dramatically with high crime rates. One reason, because the authorities of developed countries increasingly adept at utilizing technology to repel crime is increasing. On the other hand, Gates's argument also raises skepticism. Cryptocurrency, whatever it is like two sides of a coin that is not always dark. As UNESCO did some time ago that raised donations from miners of cryptocurrency around the world, to help children victims of war Syria that is still ongoing until today