The cryptocurrency space has seen some heated debates over the past week between big named in the crypto space and the wonderful world that is economics. An open debate took place on the social network, Twitter and started with the world-renowned economist Nouriel Roubini making several allegations regarding Bitfinex.
Roubini pointed out the spike in price increase which showed a $ 60 premium, with a spike of a $ 100 premium on Bitfinex, noting that the price increase was pushed and would continue to go up. The exchange platform is yet to acknowledge the claims and has only made a post through its official Twitter.
Roubini had called out IBM’s blockchain related to food and noted that its management was dealt with, with a firm hand by IBM making a centralised and private database. Roubini is also known to be a strong believer in that decentralisation of cryptocurrency is a myth and he went on to mention the founder of Ethereum, Vitalik Buterin while he also compared digital currency to the North Korean system, in context to centralisation.
In Roubini’s tweet, he says:
“Decentralization in crypto is a myth. It is a system more centralized than North Korea: miners are centralized, exchanges are centralized, developers are centralized dictators (Buterin is “dictator for life” ) & the Gini inequality coefficient of bitcoin is worse than North Korea”
According to ZyCrypto:
In response, Buterin agreed that centralisation of digital currency developers is an issue but he explained that he is actively “implementing multiple routes to mitigate this (eg. multiple client implementations, decentralized exchanges, various protocol features in PoS)”
Buterin called out the self-proclaimed ‘crytpoanarchist’, Kelvin Pham to stand as a fair moderator for the debate and Pham accepted the offer but Roubini turned it down and called Pham a “brian-less dwarf”. There is yet to be a suitable moderator for the economist and so the debate is still going on at the time of writing.
At the start of this month, Roubini was involved in a debate with Alex Gordon-Brander, CEO of Omega One where he looked into the future of the technology behind the blockchain. From then on, Roubini has stood tall on the opposition of Bitcoin, Altcoins and the crypto space in general.
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