By CCN Markets: Avowed Bitcoin critic Nouriel ‘Dr. Doom’ Roubini has found another target – Facebook’s upcoming cryptocurrency Libra, on the day of its announcement. According to the New York University economics professor, Libra is ‘blockchain in name only’. Roubini: Libra is just another profit driver for Facebook Further, Roubini argued that Facebook’s cryptocurrency was only designed to grow the social media giant’s profits. Per Roubini, Libra is a ‘monopoly scam’ given that Facebook boasts of billions of users spread across the world. It will start as a private, permissioned, not-trustless, centralized oligopolistic members-only club. So much for calling it
In an article published on MarketWatch, crypto critic Nouriel Roubini asserted that the risk of a financial crisis has grown significantly, mainly due to President Trump. While stock market indexes grew 20% in 2017, markets have been trading sideways for a major part of 2018, followed by steep drops across several sectors as markets closed
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As bitcoin suffers one of its worst corrections in its nearly decade-long history, one of crypto’s fiercest critics is calling it: the crypto bubble has burst, and prices are never coming back. Taking a preemptive victory lap on Twitter, economist Nouriel Roubini gleefully reported that the crypto market’s recent struggles had “vindicated” his multitudinous criticisms
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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.
Recognized economist Nouriel Roubini, a professor at Stern School and NYU, recently launched a series of attacks against the crypto sector. All of the False Claims Roubini Made He claimed Bitcoin is a Ponzi scheme, Ethereum co-creator Vitalik Buterin amassed a wealth of a billion dollars by creating a pre-mined blockchain network, and said public
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Nouriel Roubini, an economist best known for his predictions of the 2008 housing bubble, and Peter Van Valkenburgh, Coin Center’s director of research, testified before the U.S. Senate Committee on Banking, Housing and Community Affairs in a hearing on cryptocurrency and blockchain on October 11, 2018.
“We need to sort through the static,” said Banking Committee Chair Idaho Republican Mike Crapo, describing a need to better understand both the opportunities and the challenges in cryptoland. The testimony comes at a time when bitcoin has lost two-thirds of its value since the beginning of the year and U.S. regulators are trying to figure out how to regulate thousands of ICOs that have flown in the face of decades old securities laws.
Noted economist Nouriel Roubini sounded off on virtual currency and blockchain in a recent Senate hearing. The NYU professor classified cryptocurrency as a big scam and a bubble.
Prominent economist Nouriel Roubini is one of the few who accurately predicted the 2008 financial crisis.
Currently a professor at the New York University Stern School of Business, Roubini has been a notable and colorful critic of cryptocurrency and blockchain technology. He made a number of passionate arguments against both at a recent hearing on Capital Hill on October 11th.
The hearing was titled “Exploring the Cryptocurrency and Blockchain Ecosystem.”
The United States Senate Committee on Banking, Housing, and Urban Affairs held an informational hearing today titled “Exploring the Cryptocurrency and Blockchain Ecosystem.” The speakers included Dr. Nouriel Roubini, Professor of Economics and International Business, New York University Stern School of Business; and Mr. Peter Van Valkenburgh, Director of Research, Coin Center. Both gave testimonies on
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Nouriel Roubini, a proclaimed critic of the crypto sector, characterized decentralization as a myth, claiming that no system, currency, or protocol can exist in a peer-to-peer ecosystem. “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
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David Drake, founder of LDJ Capital, was the moderator for a match up between Nouriel Roubini and Tone Hays. Drake was quick to note Roubini’s prediction of the 2008 economic crisis.
In the discussion, Roubini notes that his experience in blockchain stems from his ability to see a bubble when it exists.
Vays responded with his outlook on the crypto space. Former trader Vays, now a speaker and prominent YouTuber, says he disagrees with Nouriel on the dysfunction of the crypto space. However, Vays maintains that anything besides Bitcoin 00 is ‘useless,’ and ‘anything else is scammy or fraudulent.’