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Nouriel Roubini has a well known hate for Bitcoin, which probably originates from the fact that it escapes his alleged "expertise": he hasn't foreseen its popu
by mamon 6y ago
Nouriel Roubini has a well known hate for Bitcoin, which probably originates from the fact that it escapes his alleged "expertise": he hasn't foreseen its popularity, and rise in value. Now he hates it, because this past mistake threatens his status as financial guru, "Dr Doom".
EDIT: I wouldn't take anything he says about it seriously, he's basically clueless on the topic.
EDIT2: In free markets value of something, e.g. Bitcoin is not decided by some panel of experts, like professor Roubini, but by people buying and selling it. If people want to pay $45k for a Bitcoin then that's it's true value. Roubini's claims that "fundamental value of Bitcoin is zero" is riddiculous. Bitcoins are collectibles, same as, say, baseball cards, and baseball cards can go for some insane prices despite having zero practial usefullness.
- Ecstatify 6y agoDon’t agree with what he says let’s attack his intellect... “originates from the fact that it escapes his alleged ‘expertise’” “he’s basically clueless on the topic”
- mamon 6y agoHe says that bitcoin has "no intrinsic value" and he's wrong about that, because value of something is not decided by financial experts, but by people willing to pay for it (even if those people are criminals looking for new ways to launder their money). He has also been predicting that "Bitcoin bubble will burst" for the past few years, and he's been wrong about it so far. So yes, I would say he is clueless when it comes to Bitcoin.
- Ecstatify 6y agoFiat currencies have no intrinsic value so how is Bitcoin different? It crashed in 2018, it lost 65% of its value.
- jokethrowaway 6y agoBitcoin doesn't have a government and armies defending it. If tomorrow your government wakes up and make "dangerous cryptocurrencies" illegal because "criminals use them" they can do that. The reason Bitcoin value is skyrocketing is mainly speculation. People buy because they want to get rich and quit their crappy job. There is literally nothing that can't be replicated tomorrow and have the same technological characteristics of Bitcoin. Actually, other cryptocurrencies are even better. At some point, governments will have their digital cryptocurrencies to track you even better than with the current system.