Nouriel Roubini: Cryptocurrencies Are More Centralized Than North Korea
Today notorious cryptocurrency critic Nouriel Roubini is out with a tweet calling cryptocurrency ”more centralized than North Korea”. The economist gears up for a US Senate Committee on Banking, Housing and Urban Affairs hearing on ”Exploring the Cryptocurrency and Blockchain Ecosystem”, scheduled for later this week. Looks like Roubini has found a new way to damage Bitcoin reputation.
Roubini’s twitted that ”developers are centralized dictators”, specifically mentioning Ethereum co-founder Vitalik Buterin as a supposed ”dictator for life”. Roubini added that miners and exchanges are both centralized, and stated that the Gini coefficient of Bitcoin is worse than that of North Korea.
Earlier, Roubini said that calling altcoins that lost 99% of their value since the December 2017 boom “shitcoins” is an insult to manure. This highlights his unfounded disdain and hatred for crypto markets. He takes every opportunity he gets to bash the crypto industry and is actively lobbying against it to lawmakers in the US.
Peter Van Valkenburgh, Director of Research at CoinCenter, also will give a speech in front of the U.S. Senate Committee on Banking, Housing and Urban Affairs.
It remains unclear whether or not Roubini will use these exact words in this speech. Taking a look at his Twitter, one can clearly see that he is not a fan of cryptocurrency. However, stay tuned for the latest updates.