Bitcoin News

Nouriel Roubini thinks the crypto community is full of ‘arrogant zealots’ and ‘fanatics’

In yet another attack on the cryptosphere, Bitcoin and cryptocurrency sceptic Nouriel Roubini has labelled individuals involved in the emerging industry as “total zealots and fanatics”.

In an interview titled “The Mother and Father of All Bubbles” conducted by the CFA Institute, Roubini said that “the whole crypto space is one of assets that are not really money. They’re not really a currency. They’re not a scalable means of payment. They’re not stable in terms of a store of value”.

On Twitter

The venting went on as the self-endorsed “Dr Doom” displayed his overwhelming distaste for the crypto asset class and all who are involved in it.

He said: “I engage on Twitter and I also have attended many of these crypto or blockchain conferences. I met some of these individuals, and I must say I’ve never seen in my life people who are so arrogant in their views, who are total zealots and fanatics about this new asset class.”

Not backing Jamie Dimon

Roubini has also recently been tweeting about the launch of the JP Morgan stablecoin JPM Coin, which he believes is not a cryptocurrency.

He stated: “The new alleged JP Morgan crypto coin [does not have] anything to do with blockchain/crypto. It is private not public, permissioned not permissionless, based on trusted authorities verifying transactions not trustless, centralised not decentralised. Calling it crypto is a joke.”

What would happen if JP Morgan’s ‘permissioned’ blockchain was hacked?

By – March 8, 2019

The long tirade on the pitfalls of the token-based, decentralised economy from Roubini seems almost like abuse and an attempt to shill the debt-based, centralised fiat economy.

The rant concluded with the claim that “the ratio between arrogant and ignorant is astounding — I have never seen such a gap in my life. These are fanatics. Some of them are like criminals, zealots, scammers, carnival barkers, and insiders who are just talking their book 24/7.”

Nawaz Sulemanji

Nawaz has been hooked on crypto since buying his first Bitcoin’s in 2013. After studying maths in London, Nawaz initially spent the first eight years of his career working globally across corporate supply chain’s before transitioning into the decentralised finance industry as a margin-trader and consultant. He’s a fan of open-blockchains because “it enables self-sovereignty”.