Thursday, February 28, 2019

The Bitcoin Forum - Information

The Bitcoin Forum - Information: The Bitcoin Forum

The Bitcoin Forum - Information

The Bitcoin Forum - Information: The Bitcoin Forum

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There are few post on Reddit which claimed that they lost their lifetime savings through Coinomi, so be cautious while you deal with it.
 
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Wednesday, February 27, 2019

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Monday, February 25, 2019

Bitcoin reached $4000 mark and rising high. With more than 800% profit in 3 months.

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Has Bitcoin's UPTREND Started? Bitcoin reached $4000 mark and rising high. - Bitcoin Forum

Has Bitcoin's UPTREND Started? Bitcoin reached $4000 mark and rising high. - Bitcoin Forum

Has Bitcoin's UPTREND Started? Bitcoin reached $4000 mark and rising high. - Bitcoin Forum

Has Bitcoin's UPTREND Started? Bitcoin reached $4000 mark and rising high. - Bitcoin Forum

Has Bitcoin's UPTREND Started? With more than 800% profit in just 3 months. - Bitcoin Discussion - All Crypto Talk

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Friday, February 22, 2019

South Korean Capital invests $1 billion into crypto startups, Elon Musk says Bitcoin is “brilliant,” | Bitcoin Forum - Join Our Cryptocurrency Community

South Korean Capital invests $1 billion into crypto startups, Elon Musk says Bitcoin is “brilliant,” | Bitcoin Forum - Join Our Cryptocurrency Community: Visit t.me/freebitmexsignalsElon Musk, founder and CEO of Tesla and SpaceX, has gone public with his belief that cryptocurrency offers an improved...

South Korean Capital invests $1 billion into crypto startups, Elon Musk says Bitcoin is “brilliant,” | Bitcoin Forum - Join Our Cryptocurrency Community

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Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media. - Bitcoin Forum

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media. - Bitcoin Forum

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media. - Bitcoin Forum

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media. - Bitcoin Forum

South Korean Capital invests $1 billion into crypto startups, Elon Musk says Bitcoin is “brilliant,” - General Discussion - All Crypto Talk

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South Korean Capital invests $1 billion into crypto startups, Elon Musk says Bitcoin is “brilliant,” - General Discussion - All Crypto Talk

South Korean Capital invests $1 billion into crypto startups, Elon Musk says Bitcoin is “brilliant,” - General Discussion - All Crypto Talk: Visit https://t.me/freebitmexsignals Elon Musk, founder and CEO of Tesla and SpaceX, has gone public with his belief that cryptocurrency offers an improved alternative to conventional money and calls Bitcoin ‘Brilliant’, Better than paper monry for Value Transfer. This shows how bright the future...

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media and now again he calls Bitcoin ‘Brilliant’. - The Bitcoin Forum

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media and now again he calls Bitcoin ‘Brilliant’. - The Bitcoin Forum: Visit https: freebitmexsignals Elon Musk, founder and CEO of Tesla and SpaceX, has gone public with his belief that cryptocurrency offers an improved alternative to conventional money and calls Bitcoin Brilliant , Better than paper monry for Value T..

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media and now again he calls Bitcoin ‘Brilliant’. - The Bitcoin Forum

Elon Musk once mentioned in his tweet about buying Bitcoin on Social Media and now again he calls Bitcoin ‘Brilliant’. - The Bitcoin Forum: Visit https: freebitmexsignals Elon Musk, founder and CEO of Tesla and SpaceX, has gone public with his belief that cryptocurrency offers an improved alternative to conventional money and calls Bitcoin Brilliant , Better than paper monry for Value T..

Is Ethereum is dead? why Ethereum has bright Future

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Ethereum is very well known throughout the cryptocurrency sphere, currently in the number 2 spot on Coinmarketcap and one of the most recognized projects after Bitcoin. However, Ethereum has also seen some pretty hard times lately. Does Ethereum still have a future and what does that future look like?


Though the same is true across the market, the price of Ether has dropped massively since the highs seen just over a year ago. Combined with disputes inside the community and tough competition, many are predicting that Ethereum is falling from grace. However, in this period the Constantinople hard fork should be released and with it major upgrades to the network. If the fork goes well and the project continues to see new developments, can Ethereum prove the doubters wrong and stay on top? Or is the project, in fact, already doomed? Let's dig in.



Among those who feel Ethereum's best days are already over, there are a handful of issues that continually pop up again and again. We'll take a look at the biggest and most common complaints to see if they hold any merit.

Lack of support and stiff competition.

One of the biggest claims thrown at Ethereum time and again is that other similar platforms, such as Tron and EOS, have larger numbers of users and faster transactions. Recently Tron founder Justin Sun himself took to Twitter to revel in the fact his platform was in the lead in terms of most dApp users.


It has also been often touted by Sun as well as other project heads that many of Ethereum's competitors have massively greater numbers of transactions per second, sometimes in the thousands. Currently Ethereum can only handle 20-30 tx/s on average. While this sounds damning, Vitalik Buterin has come out to defend his project by saying that these other platforms mainly achieve this through centralization, and Ethereum is dedicated to being decentralized.

Another claim is that Ethereum dApps simply aren't being used that much. Recent reports have shown that while EOS enjoys 50% of its dApps being used daily, Ethereum can only claim that 10% of it's dApps are used every day. That being said, almost 90% of EOS dApps have less than 1,000 users, making this claim a bit weak as far as proving relevance.

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The $1 million per Bitcoin forecast looks like an extremely unreasonable price to be assigned to one single Bitcoin, especially in a time where Bitcoin is struggling. However, if you take a look at current and past data, you might see why so many cryptocurrency experts are seemingly convinced that it is actually possible for BTC to reach the ellusive million dollar mark. Is Bitcoin at $1 million really possible?



Before you go ahead and dismiss the outrageous amount of $1 million per Bitcoin, you have to remember that Bitcoin ever since its inception has continued to proof the largest of skeptics wrong.

In the beginning of 2011, it seemed impossible for Bitcoin to ever reach the value of even one single dollar. However, throughout the years Bitcoin has shown impressive resilience, having survived multiple painful bear markets. Every time Bitcoin came back with a vengeance reaching new all-time-highs.



Whether it was $100, $1000, $10,000 and eventually $19,783, each and one of those prices were considered to be an impossible milestone at some point in the past, and Bitcoin smashed them all anyway.



Many leading cryptocurrency experts believe Bitcoin is on its way to absolute world domination.

'Bitcoin at $1 million is still on'
One of those is the colorful cryptocurrency fanatic John McAfee who famously predicted that a single Bitcoin would be worth a massive $1,000,000 by the end of 2020.



The relentless ongoing crypto winter clearly didn't have any influence on McAfee's prediction. In September 2018, he reaffirmed his prediction that Bitcoin will hit $1 million by the end of 2020.

'I think it is impossible to be anything less than that. The bet is still on', McAfee repeated.









However, for Bitcoin to be on track with McAfee's prediction, BTC should be at around $32,500 around this time, at the start of 2019, and break the $100,000 barrier by September 2019. Bitcoin should be growing at a rate of 0.79% per day to get from $3,600 to $1,000,000.00 by the end of 2020, which doesn’t seem to be the most plausible way for the market to develop today.

On the other hand, Bitcoin has shown that kind of growth for most of its existence, so don't rule it out just yet.

Another leading crypto expert, Bobby Lee, brother of Litecoin creator Charlie Lee and co-founder of BTCC, China’s first bitcoin exchange, joins McAfee in his $1 million per Bitcoin prediction. However, Lee predicts Bitcoin will hit this number within 20 years.

'Bitcoin, I think will get to $1 million per bitcoin. It will go to 100,000 and then 200,000, 500,000', he said.

'Half a million, that’s going to be a milestone and then eventually it will cross $1 million for bitcoin.'

Wednesday, February 20, 2019

Free Bitmex Trading Signals & Bitmex Trading Bots: 40-50 banks are expected to announce Stellar use in the coming Months

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Head of blockchain at IBM, Jesse Lund revealed during IBM Think 2019 that between 40 and 50 banks are expected to join the Stellar-based IBM World Wire service in the next few months,



Using blockchain technology and the Stellar protocol, IBM Blockchain World Wire allows financial institutions to clear and settle cross-border payments in seconds.

"We've got a launch announcement coming out soon... we're going to be supporting more than 50 countries out of the gate, 30-40 currencies, and enough market makers to drag along 30 or 40 banks, so we'll have a significant portion of the world covered," he explained.

There are already several banks that have confirmed their plans to issue digital assets, including some of their own stablecoins, through IBM World Wire.

"We've got letters of intent with several banks around the world to support and issue digital currencies, stablecoins and other currencies," Lund added.


Our goal is to continue to expand that network and to provide global coverage within 3-5 years where you can actually send remittances in a consistent way, immediately, at a very low cost, from anywhere in the world to anywhere in the world."

Stellar's price has been on the rise over the last couple of days, growing 1.22% in the last 24 hours.

With more details expected to emerge at the Money 20/20 conference in Singapore on March 20, this marks a massive win for Stellar who takes a big step towards real-world use and mass adoption.

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Imagine that you have $100,000 at your disposal. You must spend all of it on either bitcoin or gold – no mixing and matching – and the assets will then be stored in a trust that cannot be accessed again for 50 years.

Which option would you choose?

With the two commodities now in roughly the same price range, it’s worth putting aside some of bitcoin’s short-term volatility and liquidity concerns to compare them as long-term stores of value side by side.

Sure, you might argue bitcoin is newer and flashier, and that it has arguably more utility in the digital era than gold. But, gold has the indisputable track record, having been a cherished store of value for thousands of years across human civilizations.

However, bitcoin’s traits have led to those backing the cryptocurrency to believe it could potentially unseat gold over the long haul.

Spencer Bogart, an analyst with Blockchain Capital and formerly of Needham & Company, told CoinDesk:

“If we think about the qualities that make gold a respected ‘money’ or store of value, bitcoin is actually superior in many regards.”

Inflation vs deflation
Another key advantage bitcoin has over gold is that its supply level is fixed and transparent – eliminating fears of the typical inflationary pressures associated with overproduction that could diminish the value of the asset.

“A well-known characteristic about bitcoin is that it’s on a disinflationary supply schedule. While many people think of gold as being the same, gold is actually a sneakily inflationary asset,” said Chris Burniske, blockchain products lead with ARK Investment Management.

Burniske added that the global supply of gold has clandestinely increased by 1–2% annually over the last century.

He continued:

“If you were to ask people what gold’s supply schedule looks like over time, they probably wouldn’t draw you something that looks like an exponential curve. With gold being sneakily inflationary, it’s not set up to preserve value in the way that bitcoin is.”

Such characteristics, in theory, serve to increase bitcoin’s future utility as a means of account, exchange and storing value.

They also suggest that bitcoin’s value, usefulness and importance to society will only continue to grow as commerce becomes more digitized.

“As more infrastructure is built around [bitcoin], we think that demand will rise relative to its mathematically metered supply, increasing its price support,” Burniske wrote in a recent white paper.

Slow and steady
The clear advantages that gold has over bitcoin are trust and reliability, according to those surveyed for this article. However, a change in consumer preferences, new technological disruption or a crackdown by a government could easily kick bitcoin to the end of the bench.

“Gold has something very important that bitcoin lacks: a more than 1,000-year history of being a decent store of value. This is very important for trust and people’s willingness to store value in that particular asset,” said Bogart.

Gold has also proven itself to be of value even when governments attempt to restrict its usage or outlaw it completely.

This happened in 1933, when President Franklin D Roosevelt implemented measures to prohibit and criminalize its possession in the US.

“For more than 5,000 years gold and silver have been tried-and-true money. They’ve lasted basically the duration of organized civilization,” said Dave Kranzler of Investment Research Dynamics.

In this light, Kranzler was keen to highlight bitcoin’s ‘counterparty risk’.

Gold’s advantage over bitcoin is that it’s not dependent on the operation of the internet, thus affording it a degree of protection from heavy-handed regimes, he said.

“There’s nothing to stop any government from shutting down the internet in their country under the guise of national security purposes or what not,” he said, adding:

“We’ve seen democracies come and go, but totalitarianism always seems to creep back in. And when that happens, the government controls everything.”

Elemental value
Gold has also proven itself immune to technological disruption.

According to Burniske, while bitcoin has generated significant cultural cachet, it remains at the bleeding edge and could still be dethroned relatively easily.

“That position is not necessarily going to remain the case if bitcoin is not able to attract new users and provide a happy medium in terms of user experience,” he said.

Yet, as asset classes like Dutch tulips, Japanese real estate, dot-com companies and the US housing market have boomed and busted, gold has consistently plodded ahead, withstanding the test of time.

“I don’t think anyone can say with any certainty that any man-made system is going to be valuable 50 years from now,” said Josh Crumb, co-founder of GoldMoney and a former commodities strategist at Goldman Sachs.

He continued:

“People forget that gold is not a pet rock or a speculative asset, it’s an element. Gold is a very low-risk store of value. Fifty years from now it’s going to still be valuable.”

While investors like Cameron and Tyler Winklevoss have suggested that technological developments as far fetched as asteroid mining could eventually put upward pressure on the total supply of gold (and reduce its scarcity), Crumb reckons that technological creative destruction poses a much greater threat to bitcoin.

“People have been trying to crack gold for 600 years. I think it’s much more likely that we’re going to have quantum computing that can change cryptography than asteroid mining that’s going to bring back loads of gold,” he said.

Complementary or substitutionary?
Perhaps asking whether bitcoin will ever unseat gold as the universal store of value isn’t quite appropriate, as it’s plausible that the two can, and will, co-exist as complementary assets.

“I like bitcoin, particularly in the short-term, so it’s kind of like saying ‘Do you like gold or do you like investing in Facebook in 2011?'” said Crumb. “To me, it’s two totally different things.”

As is standard practice across other realms of investing, the correct answer to the bitcoin versus gold question will ultimately be determined by the risk profile of each particular investor.

“In terms of proper portfolio construction, you want to diversify. You want to have different types of assets that don’t necessarily move together,” said Burniske, concluding:

“There’s always room for collaboration. It’s sensational to pit [bitcoin versus gold] as a fight to the death.”








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Bitcoin Bull Spencer Bogart Faces Bearish Bloomberg Analyst, Plus Ripple and XRP, Ethereum, Tron, EOS, Cardano, VeChain: Crypto News Alert



From Bitcoin’s near-term prospects to an accidental airdrop from Binance, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

Blockchain Capital’s Spencer Bogart and Bloomberg market analyst Mike McGlone just went head-to-head to discuss the current state of crypto.

Bogart says Bitcoin is probably the “most compelling asset in the world” but added he’s not sure whether the price of BTC has hit a bottom.

“Are we ready to see new all-time highs? Probably not yet. I still feel like there’s a few more regulatory shoes to drop. But for now, the entrepreneurial activity and the institutional interest in the space has not ceded with the price. I think now’s a very good time to buy.

Is it the absolute bottom? I’m not sure. Could be.

[Bitcoin] hasn’t slumped at all in terms of entrepreneurial activity. We operate a venture capital fund that invests in both digital assets and the companies, and we see more and more companies coming in every day, and higher quality entrepreneurs as well.

I think behind the scenes when you think about Bitcoin as an asset, we think about this vortex of a macro environment with rising debt levels at all-time highs, money printing, this tension between nationalism and globalism and this notion of jurisdictional competition. I think there’s a strong case to be made that Bitcoin is the most compelling asset in the world right now.”

As for McGlone, he says the major Bitcoin indicators he likes to watch show the bear market is probably not over.



“It’d be nice if it is a bottom, but I think it’s unlikely. Basically, if you look at the price, it’s been trading between $3,100 and $4,100 since December and it’s basically doing the same thing it did last year. It’s consolidating at lower levels, and I think it still needs to go to lower levels… 

Actual transactions are near levels when Bitcoin was last around $2,000. You look at addresses used – they’re basically at levels that are below the 2017 low, and that low was around $900. So these kind of indicators need to pick up.”


Ripple owns about 60% of the total supply of XRP and regularly sells portions of its holdings to third parties like crypto exchanges and institutions.

Ethereum

The Ethereum development studio ConsenSys has released a recap on what went down at ETHDenver.

“While major announcements by the likes of Rhombus, Shapeshift, and UNICEF are taking the headlines, it was Buffidai  –  a Dai-based digital asset minted for ETHDenver – decentralized finance, and all the cool tech built during the BUIDLathon that showcased what blockchain technology can do in the here and now.

Elsewhere, a wild roving Bufficorn caused mischief and mayhem wherever he or she went, and the ETHDenver Art Gallery showcased some of the ETH-inspired or ETH-created art being made around the world right now.”



You can check out the full recap here.


EOS

The CEO of EOS creator Block.one says governments are “aggressively” looking into how they can utilize the blockchain. According to Brendan Blumer, political leaders around the world are waking up to the many opportunities the emerging tech has to offer.


BrendanBlumer

@BrendanBlumer
 Every government I’ve spoken to at #MSC2019 is aggressively studying how to leverage #blockchain; some have started implementation. As they continue to learn, they’re realizing the opportunities and stakes are so much greater than what was initially imagined @novogratz



Binance CEO Changpeng Zhao says an undisclosed amount of Tron’s BitTorrent Token (BTT) was accidentally airdropped to a number of people who bought BTT on Binance Launchpad. Zhao says his team is currently working on fix


















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Crypto markets are rising, and Bitcoin (BTC), which constitutes more than half the market’s value, is among the big winners. Most BTC trades have been against fiat currencies and the stablecoin, Tether (USDT), suggesting that some investors are beginning to move value out of safe havens and into riskier digital assets.

This could be a sign that confidence is returning to the market.

The original cryptocurrency has been on a gradual incline since yesterday. Bitcoin traded at the $3,600 level on Sunday afternoon (GMT) and opened on Monday slightly higher at $3,660.  This trend began to accelerate just after midday: Bitcoin began the afternoon at $3,742 and within the space of two hours, had climbed up by nearly $100 to $3,833.

Bitcoin had reached $3,840, giving it a market cap of $67.48bn, by the time of writing.



A significant amount of activity has taken place between BTC and Tether. Data collected by CryptoCompare highlight that the largest BTC markets are those with pairs to Tether. By press time, these were worth a total of $1.08bn.

BTC trades against the actual US dollar have also seen significant increases. More than $105M has gone through Bitfinex’s servers alone since yesterday afternoon, and more than $46M moved through Coinbase in the same timeframe.

Is this a long term trend?
Momentum is picking up and if it continues, Bitcoin could break past the $4,000 barrier today. That’s a high bar to jump, one which will likely push BTC even higher.

But the key takeaway from today’s price movement is that investors are buying Bitcoin, not with other cryptocurrencies, but with fiat currencies and stablecoins. That shows there is at least some market consensus that value would be better served in BTC than elsewhere.

Some of the gain could be a cynical ploy to exploit the higher prices and then re-convert when BTC starts to stagnate or drops. There hasn’t been a clear reason for the price rise, which suggests trading activity could merely be based on short-term speculation. In that case, market price could be detached from value, and therefore unsustainable in the long-term.

Despite recent price movements, a golden cross is still nowhere to be seen. But other technical indicators show that confidence may be slowly returning. The MACD, which places more weight on recent price trends than older ones, has moved into the green for the first time since January 6th.



Market sentiment is hard to quantify, much less accurately project out on a graph. But the fact remains that investors are putting money into Bitcoin.  With large volumes coming from fiat currencies and stablecoins, this could highlight that investors are becoming confident again.

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Argentina is in the spotlight, making international settlements in Bitcoin, enabling Bitcoin payments for public transport, and increasing access. Argentina is a great example of a country that needs Bitcoin, bad economics, financial predation and corruption have all taken their toll. 

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The crypto industry came into 2019 with very little optimism after the bear market that lingered for the most part of 2018. Looking on the bright side, a famous crypto analyst on Twitter, Josh Rager, said that now could be “the last time the general population can afford to buy an entire $BTC.”

Josh Rager is a crypto trader, investor, and an adviser to TokenBacon and BlackWave. He is also the co-founder of crypto YouTube channel BlockRoots.

Rager went on to explain this with a chart that projects the future price of Bitcoin based on its past movements. He further added that while the price may dip further in the short term, it’s likely to reach 5 figures and outside the reach of most people in a few years.

According to his projections, Bitcoin could return to a market price where most people will only be able to buy fractions of it. He suggested this could happen after 2021. He hinted that the global income per household will possibly have a part to play in making the price of 1 bitcoin out of reach for the general population. However, he hints that Bitcoin’s price may drop as low as $1,200 or $1,800 before the uptrend.



A number of other crypto analysts on Twitter agreed with Rager, who was kind enough not to vehemently dismiss any view contrary to his. The Crypto Dog, another top account on crypto Twitter, agrees that Bitcoin is poised to spike again in the future.




Economist Alex Kruger joined the conversation, signifying the lack of newcomers as a barrier to the trend suggested by Rager. While he remarked that an uptrend was “perfectly feasible,” he raised the argument that the starting point of the trend will influence the point to which it rises.

Most of the optimism about Bitcoin is based on the much-anticipated bitcoin ETF. A number of prominent Bitcoin players have expressed bullish views on BItcoin’s destination in the next few years. With the recent lightning torch event on Twitter, Bitcoin continues to build steady adoption that will hopefully be a force for the next significant uptrend.

Will this projection by Rager come true? Will it happen earlier than he suggested or later? We have to wait to find out.

Monday, February 18, 2019

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What does Bill Gates have to say about Bitcoin?


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Who doesn't know entrepreneur and businessman Bill Gates? The man who co-founded Microsoft in the mid-seventies, one of the world's largest software businesses, while surely becoming one of the richest and most influential men in the world. The man who founded the 'Bill and Melinda Gates Foundation', in an ongoing philanthropic endeavor to eradicate poverty on a global scale. We all know Bill Gates, but what does he have to say about Bitcoin?


Philanthropic billionaire Bill Gates has expressed a variety of opinions on the world's most popular cryptocurrency throughout the years. At times it is difficult to determine whether the self-made billionaire loves or hates Bitcoin.

Whatever his sentiments towards Bitcoin currently are, one thing is for sure: Gates loves to 'flip-flop' on Bitcoin.

Praising Bitcoin in 2014

Cautiously praising Bitcoin years ago in 2014, when the price of one Bitcoin traded around $350, Gates said that 'Bitcoin is exciting because it shows how cheap it can be'.

The Microsoft co-founder added that 'Bitcoin is better than currency', and that fiat currency can be 'inconvenient', especially when it comes to 'large transactions'.


Gates reined in his enthusiasm for Bitcoin

However, by 2015 Gates had reined in his 'Bitcoin enthusiasm'.

When he was asked if he was excited about the potential of Bitcoin he explained that he does believe that Bitcoin has the potential to do 'a lot to make moving money between countries easier and getting fees down pretty dramatically.'

'But Bitcoin won’t be the dominant system', he said. 'We need things that draw on the revolution of Bitcoin, but Bitcoin alone is not good enough.'

Read more: What happens to Bitcoin if the stock market crashes?

Gates blames cryptocurrencies for drug-related deaths 

Three years later, at the beginning of 2018, Gates went totally dark on Bitcoin by focussing on its downsides.

'The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing', he said in a Reddit AMA post.

'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.'

Gates did have to admit that anonymous cash can be used for the exact same kind of criminal activities.

'Nevertheless', he said. 'A person has to be physically present to transfer cash, which makes things like kidnapping payments much more complicated.'

Even though Gates changed his tune considerably on Bitcoin, he did remain very positive about the underlying blockchain technology.

'There's some really good technology in terms of sharing databases and verifying transactions that is talked about as blockchain, that is a good thing.'

Read more: 9 Bitcoin price predictions for 2020 by crypto experts

'I would short Bitcoin if I could'

Later that same year, Bill Gates had a sit down with Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger on CNBC's 'Squawk Box'.

The Windows creator explained that he actually never owned any cryptocurrency, but did say that he held some BTC briefly after it was given to him as a gift.

'Somebody gave me some for my birthday', he said. 'A few years later, I thought, Hey I'm going to sell that.'

His buddy billionaires, who previously called Bitcoin 'rat poison squared' and trading Bitcoin 'something like dementia', seemed to enjoy this little anecdote. Perhaps a little too much.

In line with his ever-changing views on Bitcoin, Gates added that one reason for him to have a negative forecast for cryptocurrency is because he sees the digital tokens as lacking intrinsic value. 

'As an asset class, you're not producing anything and so you shouldn't expect it to go up', Gates said. 'It's kind of a pure 'greater fool theory' type of investment.'

Gates also went on to say that Bitcoin is 'one of the crazier speculative things', and that if he could, he would 'short it if there was an easy way to do it.'

A comment that caught the attention of crypto billionaire Tyler Winklevoss, who took to Twitter and challenged the Microsoft co-founder, explaining to him that there is indeed an easy way to short Bitcoin and to put his money where his mouth is. A challenge Bill Gates never responded to.




He is slowly warming up to Bitcoin

Bitcoin enthusiasts will point out that Gates has been spreading out gloom and doom predictions for quite some years now, however, in a video posted at the end of 2018, Gates appears to be warming up (again) to Bitcoin and cryptocurrencies in general.

He apparently is realizing the massive opportunity which Bitcoin presents in helping those in poverty without access to traditional financial institutions. 



If we were building a financial system from scratch today, we would do it on a digital platform. Digital could lower the cost of a range of transactions by as much as 90%, providing nearly universal access to innovative financial products and services', Gates said.

Gates points to the astonishing fact that over 2.5 billion people don't have access to traditional financial services and relates to how cryptocurrency can help the world’s most impoverished.

'Poor people do have assets: their intellect, their labor, their savings', he said. 'Their problem is that they don’t have financial tools to capitalize on these resources. They are trapped in inefficient cash economies that rob them of opportunities to insure themselves against risk, invest in their productivity, and ultimately help lift them out of poverty.'

'Transforming the underlying economics of financial services through digital currency will help those who live in poverty directly.'