Famous Economist: Crypto Money 'Completely Crumbed' Case
The American economist Dr. Nouriel Roubini was in striking statements about the conference crypto money he had attended during the past week. Roubini, who is known to have predicted the economic crisis of 2008 two years in advance, thinks the crypto money is now "collapsing" .
Roubini, a professor at New York University, commented on the BlockShow Conference in Las Vegas:
"Bitcoin is not a 'money'. Bitcoin must be a unit of account, a payment instrument, a fixed value source, and a purchasing power for money. Bitcoin does not fit any of these.
Roubini, who also advises the International Monetary Fund (IMF) and the World Bank, thinks that today's crypto money is lagging behind money transfer networks like Alipay, PayPal and Square. Roubini, said that "today's digital payment systems are used by millions of people every day, and that these systems are not Blockchain based"
"Centenniality Yield" According to Roubini, what is one of the important features of 'decentralization', which is actually a puritan. "The largest five mine pools control 70 per cent of mining operations" emphasizing that "the largest five major mine pools control 70 per cent of mining operations," according to the famous economist. Roubini added that the centers of these mine pools are mainly in countries like Belarus, Russia, China.
Center of Wealth Distribution Roubini, Utilizing the Gini rate the distribution of wealth in Bitcoin He said it was even more central than in North Korea. The criterion, the so-called Gini rate, is used to statistically distribute the wealth distribution among citizens or a group of people in a particular country. 1 (or 100%) of the Gini rate is the sum of all the wealth in the country; 0 (or 0%), whereas a means to disperse completely in a balanced manner the wealth in the country. [19659002] around 32 percent in Germany this ratio in order to make a comparison, 46 percent maintained in Turkey, while in Russia is around 38 percent I can say. In North Korea this ratio is up to 86%. However, Roubini points to an interesting point, emphasizing that this ratio is up to 88% in Bitcoin. The post Celebrity Economist: Crypto Money 'Completely Crashed' appeared on first on Koin Bulletin. Steemit: @engindagli
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