Blockshow at the conference, held August 20-21 in Las Vegas, a discussion was held between the Tone Weiss and Nouriel Roubini, who was nicknamed “Dr. Doom” for having predicted the economic crisis of 2008.
At the beginning of the discussion, Roubini said his “competence in the blockchain is based on the fact that, if the market is a bubble, it is able to see him.”
Former trader and YouTube blogger Weiss disagreed with Nouriel about the dysfunction of the cryptocurrency market. But he agreed that everything except bitcoin is “useless” and is “either a Scam or a fraud.”
Roubini drew particular attention to the tension between institutional players and regulators. Weiss, in turn, has compared the bitcoin with nuclear waste – if you don’t know how to properly store them, there can be a disaster.
Roubini said that he is very skeptical in relation to cryptocurrencies. He said that the crypto-market, there are many fraudulent schemes such as “pump and dump” and traders “day-to-day trading crappy tokens.”
In addition, according to Roubini, 99.9% of the cryptocurrency will eventually collapse, and will continue to exist only one bitcoin. Weiss replied that bitcoin, by their nature, can not be confiscated, if you store it correctly, and may not be seized the opportunity to transfer funds.
Highlights of the my head to head w/ @Nouriel at #BlockShow @BlockShowcom #Vegas event. I agree w/ him on everything being a #Scam except #Bitcoin which competes w/ $USD & $Gold on:
2. Moneytary Policy
3. Censorship Resistance Paymentshttps://t.co/ejUemYZBOu
— Tone Vays [@Bitcoin] (@ToneVays) August 31, 2018.
The thesis of my duel with Nouriel on BlockShow. I agree with him that everything except bitcoin is a Scam, because it is superior to the USD and gold for the following:
2. Monetary policy
3. Payments, able to withstand censorship
Roubini argued that bitcoin cannot be confiscated, citing the Secretary of the Treasury Steve Mnuchin, who said:
“We can’t let that bitcoin and cryptocurrencies have become another Swiss Bank account.”
In addition, Roubini separately criticized the anonymity of bitcoin, saying that it would not be tolerated by any modern government, and especially the government of trump.
Towards the end Roubini touched on the subject of kriptomayning and said that the centralization of mining is hypocritical in light of the fact that cryptocurrencies promised to decentralize the financial system. After that, the sharpness of the debate gradually died down and was reduced to a brief conversation about the centralization of mining, and then successfully completed.
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