Renowned financial expert, Professor of Economics at new York University ‘s Nouriel Roubini (Nouriel Roubini) believes that the fall in the price of ETH was predictable because in Ethereum too little active decentralized application (DApp).
“No wonder Ethereum falls. 75% DApp is a crypto-kittens, fraudulent pyramid scheme, Ponzi and casino games. The remaining 25% is DEX, which nobody uses, because 99% of transactions have on centralized exchanges. And 99% of cryptocurrencies have already lost 99% of its value. A complete collapse!”, — Roubini wrote in Twitter.
No wonder Ethereum is collapsing. 75% of DApps are crypto-kitties, scammy Ponzi pyramid schemes & Casino games. The other 25% are DEX that no one uses as 99% of transactions are on centralized exchanges. & 99% of crypto-currencies have already lost 99% of their value. Meltdown!
— Nouriel Roubini (@Nouriel) September 9, 2018
It is noteworthy that on 2 September, TechCrunch published an article by Bitcoin Core developer and technical consultant Stellar Jeremy Rubin (Jeremy Rubin) under the heading “the Collapse of Ethereum is inevitable.” Co-founder ETH acne Buterin partially concurred with her arguments, but noticed that Ethereum can survive, if will be able to develop and evolve. Later Buterin said that the growth of the blockchain industry is likely to end.
Nouriel Roubini, who predicted the global financial crisis of 2008, has been a consistent and harsh critic of cryptocurrencies. He called bitcoin “the mother of all bubbles”, saying that its value would collapse to zero. Inherited from a financial expert who has the nickname of Dr. Doom (Dr. doomsday), smart contracts and the blockchain technology, which he considers “one of the most overrated”.