Nouriel Roubini: Crypto was created by a bunch of greedy kids
Nouriel Roubini, the economist who jump to the fame as the one who predicted the Great Recession of 2007, has shoot again against the crypto market, pointed that is a creation of "a bunch of greedy kids", and denouncing the "ideolgy" behind that.
"Crypto was created by a bunch of greedy kids, that make Gordon Gecko look like a saint, pretending to save the world & end poverty. But all they want is to make money literally out of nowhere. Printing shitcoins out of fiat & finding enuf suckers to buy it. Total Hypocrites!", post Roubini in Twitter this Friday.
The economist has insisted that the crypto market, now valuating in $201.286 billions (more than 50% less that at the year beginning) is a burble and will explode sooner or later. On his new tweets he denounces the intentions of the crypto market actors of disseminate a "fascist" ideology because the argument of the necessity of a more decentralized money system.
"Ideology of crypto is right wing white supremacist "black helicopters" paranoia & conspiracy about centralized evil governments, central banks, banks, jews, corporations, trusted institutions that need to be destroyed &replaced by libertarian decentralization. Fascist at core!", said in other tweet.
Also Roubini pointed cases as Venezuela and now Iran as examples of "Rogue States trying to use crypto to avoid sanctions and oppress their people more". He brings it on because the US's Financial Crimes Enforcement Network (FinCEN) published an advisory Friday, stating that Iran's "illicit and malign" use of cryptocurrency to "exploit" the financial system includes at least $3.8 million-worth of bitcoin-denominated transactions every year.
Roubini is one of the most relevant voices that had arises against the crypto market. Other financial celebrities as Warrent Buffet, Robert Shiller (Nobel Prize), Jack Ma (Alibaba founder) and Bill Gates, are part of the coral.
On this debate is necessary separate the opinions about the crypto and the blockchain technology. Most of the cryptocurrency critics are not blockchain detractors. For example, Jack Ma said that "blockchain technology could change our world more than people imagine, (...) Bitcoin, however, could be a bubble."
There is a large way to walk in this topic.
Image source: Wikimedia
