Bill Gates Says Bitcoins Are Causing Deaths; BTCXIndia & ETHEXIndia Shut Down!
Bill Gates' statement is also shocking for another reason: Microsoft had always supported cryptocurrencies.
In a surprise twist of events, Microsoft founder and leading philanthropist, Bill Gates has revolted against bitcoins and other cryptocurrencies.
In a shocking way, he has said that bitcoins are causing deaths, in a ‘fairly direct way’.
Meanwhile, leading crypto token marketplaces BTCXIndia and ETHEXIndia have decided to close down their trading operations.
They have squarely blamed the Indian Govt. for this action.
Bill Gates: Bitcoins Are Causing Deaths
Recently, Bill Gates appeared for a Reddit AMA, where someone asked his views on cryptocurrencies.
In his reply, he said that bitcoins and other digital currencies are being used to buy illegal drugs and to fund terrorists. Hence, they are causing death, directly.
This was his reply:
“The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing. The Governments 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.”
This reply received 6 Golds, and around 13.5K upvotes, which is massive in Reddit’s world.
This has sent shockwaves, because the future of bitcoins now has become even more ambiguous, considering Bill Gates has said against it.
This is also shocking for another reason: Microsoft had always supported cryptocurrencies, and they were among the first to offer their products, games in bitcoins.
This is how anyone can add bitcoins into their Microsoft account, and use it to purchase games, movies, and apps in the Windows and Xbox store.
He also blasted Elon Musk’s Hyperloop concept and said that the idea isn’t feasible.
“I am not sure the Hyperloop concept makes sense. Making it safe is hard.”
BTCXIndia, ETHEXIndia Halt Their Operations
Meanwhile, one of the popular Ripple-based trading exchange BTCXIndia and their own Etherium-based trading exchange ETHEXIndia have decided to shut operations effective March 5th.
From now on, they will only provide blockchain consultancy, and help companies to use the technology for streamlining and protecting their operations.
In their email sent to all their customers/users/subscribers, they blamed the uncertain circumstances created by Indian Govt.’s stand on the issue, and lack of support from them.
Their email stated:
“As we heard in the budget speech, the Indian government is discouraging cryptocurrency trading.This has been clear also by government actions in the last year, and has put our business under a lot of stress and putting us in a position where we don’t feel that we can continue our business in a professional manner any longer.”
We will keep you updated, as we receive more inputs.