Bitcoin Halving is Less Than One Year Away: What to Expect from the New Bitcoin?

Bitcoin Halving is Less Than One Year Away: What to Expect from the New Bitcoin?
The third Bitcoin halving is expected to take place in May 2020 with most people in the community confident that the price of BTC will soar from now until the event takes place.
Bitcoin Halving is Less Than One Year Away: What to Expect from the New Bitcoin?

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Source: CoinSpeaker

Roubini makes satirical claims, debates value of digital assets

The recent Deconomy Conference held at Seoul saw the presence of crypto luminaries, including Ethereum Co-Founder Vitalik Buterin and the infamous crypto-skeptic Nouriel ‘Dr. Doom’ Roubini. The Hong Kong-based Digital Asset Exchange, ANXONE, recently tweeted that Roubini was satirizing when he stated that he was the real Satoshi Nakamoto, at the Deconomy forum held from between April 4-6.
Responding to ANXONE’s claim, Nouriel Roubini tweeted that he was the real creator of Bitcoin and that he incepted the digital asset to expose the inefficiencies of the legacy traditional institutions. He tweeted,
“What do you mean I satirized? I am the real Satoshi Nakamoto!! I created BTC to show a monetary and financial system that is even more inefficient, costly, corrupt, rent-seeking, greed-is-good biased, concentrated, oligopolistic, scammy, prone to manipulation than Wall Street!”
It was also reported that in the conference, which was titled the “Fundamental Value of Cryptocurrency and its Sustainability”, Buterin and Roubini got into a heated debate regarding the true value of digital assets.
The famous crypto naysayer claimed that the government and regulators would eventually take over the space. Vitalik held on to his stance and stated that one positive impact involving the creation of a new social expectation around privacy which, in the end, the authorities would have to adapt to.
This is not the first time that the duo has confronted each other. Prior to the latest stint, Dr. Doom had called Bitcoin “crap” and compared Vitalik Buterin to North Korean dictator Kim Jong-un.
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Source: AMB Crypto

Deconomy Forum’s Most Exciting Debate: Vitalik Buterin Faces Off Nouriel Roubini

Deconomy Forum’s Most Exciting Debate: Vitalik Buterin Faces Off Nouriel Roubini
In the framework of the Deconomy Conference, Ethereum co-founder Vitalik Buterin and crypto skeptic Nouriel Roubini shared their views on cryptocurrencies.
Deconomy Forum’s Most Exciting Debate: Vitalik Buterin Faces Off Nouriel Roubini

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Source: CoinSpeaker

Ethereum’s Vitalik Buterin and Nouriel Roubini square off to discuss scalability, censorship resistance and decentralization

The cryptocurrency world witnessed its own version of Ali v. Foreman after Vitalik Buterin, the Co-founder of Ethereum and prominent cryptocurrency skeptic, Nouriel Roubini, faced off at the Deconomy Forum in Seoul. The two stalwarts were up against each other on a panel discussion titled, ‘Fundamental Value of Cryptocurrency and its sustainability,’ moderated by Antony Lewis.
The debate was billed as the most exciting panel discussion of the year, with Nouriel Roubini and Vitalik Buterin having squared off several times previously. The debate itself covered a range of subjects, including, centralization, scalability, and censorship resistance, among other things.
Ethereum’s Co-creator spoke about the utility of cryptocurrencies and how they can be censorship resistant and be used to allow more people access to financial services, while exploring more use cases such as DApps. The economist dismissed this, stating that the privacy and anti-censorship argument was a ‘joke.’
Calling it nothing more than a myth, Roubini said that since governments have the power and authority to overrule crypto-systems, cryptos can only be as resistant as the government allows them to be. Further, since many regulators impose KYC norms, anonymity and censorship resistance will be rendered moot, he said.
Roubini further added that since felonies such as tax evasion, human trafficking and terrorist financing are common, governments have no incentive to accept cryptocurrencies. Instead, they’ll be motivated to act against anonymous finance, he said. Buterin responded by saying that anonymity was not mutually exclusive with finance. He also added that private and compliant finance is possible.
Roubini and Buterin also crossed swords on the issue of scalability and decentralization. Proof-of-Work networks such as Bitcoin and Ethereum are not sufficiently scalable, Roubini said, citing the consensus algorithm’s slow transaction speeds. The economist also spoke about the alleged degree of centralization within the mining and developer community.
Buterin was quick to respond however, stating that solutions such as Ethereum’s sharding not only allows maximum efficiency for nodes and miners, but also contributes towards improving scalability and decentralization.
Emin Gün Sirer, a professor at Cornell University, had this to say about Roubini’s comments on centralization,
“Ok, he even called out the centralization among developers. Not wrong, but kind of unfair to direct it at ETH, one of the few coins with a decentralized developer ecosystem.”
Buterin and Roubini also spoke about a scenario where Central Banks hold cryptocurrencies in the future. While Roubini said that it was not possible, Buterin commented that it wasn’t impossible since central banks already hold gold reserves.
Ethereum’s Vitalik Buterin also had some interesting insights on what present-day cryptocurrencies are supposed to become in the future. He said,
“I don’t advocate for BTC or ETH to become a unit of account for the world. Things like @MakerDAO have potential. But value of most of crypto in short term is not to replace global fiat.”
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Source: AMB Crypto

Bitcoin [BTC] losing 85% of its value is ‘the mother and father’ of all bubbles, says Nouriel Roubini

Nouriel Roubini aka Dr. Doom, an American economist, has yet again stormed on Bitcoin and cryptocurrency, terming the 2017s Bitcoin bubble as the “mother and father of all bubbles”.
Dr. Doom said that the largest cryptocurrency, Bitcoin, is not scalable. Bashing all users by terming them a “delusional army of people”, the crypto cynic stated:
“Especially telling was that by the second half of 2017, there were millions of people who didn’t know anything about finance or portfolio investments, driven by FOMO or the fear of missing out, buying bitcoin and all these other s**tcoins.”
The economist was of the opinion that the bubble started to burst because cryptocurrencies had “no real fundamental value”.
Talking about his tryst with the crypto community, Roubini said that the people he met at cryptocurrency and blockchain conferences had no knowledge of the basics of economics, finance, and money, among others. He added that these people were clueless, but still wanted to revolutionize every aspect of the traditional money. He said:
“I met some of these individuals, and I must say I’ve never seen in my life people who on one side are so arrogant in their views, who are total zealots and fanatics about this new asset class.”
After the Bitcoin bubble in late 2017, the largest cryptocurrency lost nearly 85% of its value. Bitcoin, however, recuperated and maintained its price in the $3,300-$4,000 range. During the recent rally, the ‘gold’ crypto embarked on a support level of $3,800.
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Dr Doom Does it Again: Bitcoin and Crypto People Are Arrogant Zealots and Fanatics

In another scathing attack on Bitcoin and cryptocurrencies Nouriel ‘Dr Doom’ Roubini has labeled individuals involved in crypto and blockchain as total zealots and fanatics about this new asset class.
The Mother and Father of All Bubbles
In an interview with the CFA Institute Roubini was quite aptly labeled as a ‘perennial permabear’. He is known for calling out bubbles, most famously the housing bubble leading up to the global financial crisis. He has also labeled crypto as the mother and the father of all bubbles adding;
“But to me, 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 as stable in terms of store of value.”
While the price action of Bitcoin and its brethren has behaved like a bubble in the past 18 months one has to look at the bigger picture to see that Roubini is clearly barking up the wrong digital tree here. Yes, Bitcoin is down 80% from its all-time high but it is also up 225% from this day two years ago, March 8 2017 when BTC traded at $1,200. That is not how bubbles behave.
The venting went on as Dr Doom vehemently displayed his distaste for this asset class and all who are involved in it.
“Well, 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 on one side are so arrogant in their views, who are total zealots and fanatics about this new asset class,”
He added that those people were also completely ignorant of basic economics, finance and money. It would be interesting to see if Roubini had the same views about those that invested in the dot com boom and bought Netscape stock, for example, when they launched the IPO at $28. The shares surged to $175 by the end of 1995 and some of the biggest gainers from that period were investment bankers who clearly did have a grasp of economics.
Roubini added that the start of internet was a bubble with a lot of dot coms going bust but it kept growing, adding the billions of people used it and it changed the world. Again, what he fails to see is that crypto is still in this very early phase with virtually no adoption yet – the capacity for growth is as big as the internet was back in the 1990s and the institutions are clearly showing interest this year.

Nouriel Roubini: The Mother and Father of All Bubbles
— Nouriel Roubini (@Nouriel) March 7, 2019

The ranting continued and one could almost envision the blood pressure rising;
“The ratio between arrogant and ignorant is astounding — I have never seen such a gap in my life. These are fanatics. Some of them, like criminals, zealots, scammers, carnival barkers, insiders who are just talking their book 24/7.”
As if in ‘gloat mode’ for correctly predicting that a bear market would follow a huge bull run, Roubini’s venomous rhetoric towards this industry appears to be stemming from some deep personal loathing of it and the people involved in the nascent technology. Nothing more, nothing less.
Image from Shutterstock
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Nouriel Roubini says JP Morgan’s cryptocurrency JPM Coin is a joke; compares it to XRP

Nouriel Roubini aka Dr. Doom has always been against cryptocurrencies and blockchain, but Roubini’s tweets regarding JP Morgan’s cryptocurrency suggests that he acknowledges cryptocurrencies.
JP Morgan, an American financial services company and bank, recently launched its own cryptocurrency called “JPM Coin”, which was created to settle payments between clients. JP Morgan, as a result, became the first major bank to launch its own cryptocurrency in the US.
The cryptocurrency faced a lot of heat from the cryptocurrency eco-system as they called it centralized as it basically destroys the ethos of blockchain and the first cryptocurrency, Bitcoin, which was created to take control away from centralized authorities.
Nouriel Roubini was one among such people who disliked the idea of a bank coin. Roubini tweeted:
“In which way has the new alleged JPMorgan crypto coin anything to do with blockchain/crypto? It is private not public, permissioned not permissionless, based on trusted authorities verifying transaction not trustless, centralized not decentralized. Calling it crypto is a joke.”
The JPM Coin is similar to stablecoins in concept as it can be redeemed for $1 and as CNBC reported, clients will be issued the coins after depositing dollars at the bank; after using the tokens for a payment or security purchase on the blockchain, the bank destroys the coins and gives clients back a commensurate number of dollars.
Nouriel Roubini went on to compare the JPM coin and XRP. Roubini retweeted his aforementioned tweet with a comment:
“Ditto for XRP. It is as much of a joke as the new JPMorgan new pseudo crypto coin.”
Even though a lot of people in the crypto-community hated the idea of a bank-issued coin, some applauded it. Twitter user @Tusharjain tweeted:
“Banks were obviously never going to use XRP for settlements and enrich Ripple Inc (who owns more than half of all XRP). They would rather enrich themselves instead!
Kudos to JPM for being first. They are going to wipe the floor with Ripple.”
Miked Dudas, the founder, and CEO of The Block, commented:
“JP Morgan, the bank whose CEO Jamie Dimon has called Bitcoin a “scam” + said “I don’t really give a shit about Bitcoin” is launching its own cryptocurrency.
When @TheBlock__ inquired a month ago, JP Morgan blockchain execs denied this was in the works.”
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Source: AMB Crypto

Nouriel Roubini takes hit on Bitcoin [BTC] and others; focuses on 4,800 pump and dump schemes

In a recent tweet by Dr. Doom aka Nouriel Roubini, the veteran economist wrote that digital assets and the cryptocurrency market contain the maximum amount of manipulation in the human history.
He also addressed these digital assets as “shitcoins”, equating them to zero. The tweet referred to an article that mentioned a total of 4,800 pump and dump schemes involving cryptocurrencies. The original post read:
“4800 Pump & Dump schemes! Crypto is THE most manipulated financial market in ALL human history & manipulation of “assets” that are all shitcoins & worth ZERO. It makes the Wolf of Wall Street look like a naive amateur. And in spite of this sleaze shitcoins lost 95% this year!”
In the same article that Roubini referenced to, research by Toulouse School of Economics was mentioned. It stated that the research found a total of around 4,800 pump and dump schemes in the cryptocurrency space, signaling the sources to Telegram and Discord.
The distribution of the schemes was also mentioned allocating 3,767 to Telegram and 1,051 to Discord in the span of six months from mid-January to early July of this year. The article also pointed out, through the research, that the rank of a coin that is assigned on the basis of market cap and trade volume is the most significant aspect in determining the scale of profit from a pump and dump scheme.
ssv1978, a cryptocurrency and blockchain space follower and enthusiast wrote:
“The stock market is overheated, the debt burden of corporations, especially in the medium-sized US business sector, exceeds their capitalization tenfold, that’s where the bubble is and scam. Lol”
A., another Twitter user and a cryptocurrency enthusiast also commented:
“All this may be true but I still believe that the people who invented the negative interest rate scheme take the prize.”
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Source: AMB Crypto

Nouriel Roubini and Anthony Pompliano’s “Buffet Bet 2.0” feud rages in the Twitter-verse

Anthony Pompliano, a Bitcoin enthusiast and the founder of Morgan Creek digital asset recently set off a bet, now being called as the Buffet Bet 2.0, putting $1 million at stake. The bet by Pompliano is a competition between the performance of S&P 500 index and cryptocurrencies as a whole.
Roubini being himself had an opinion on this bet and bad-mouthed Pompliano and his bet, which led Pompliano to invite him to go against the bet. The feud continued as Roubini took to his Twitter saying that Pomp is “changing goal posts” and “talking books all day”.

To Roubini’s Tweet, Pompliano replied:
“Talk is cheap. You taking the bet or going to Monday morning quarterback this one?

If you want to check out the index, you can see it here”
On December 10, Roubini erupted the feud again when he Tweeted:
“You take bets only when there is no counter-party risk, ie when the side losing the bet is still there to pay it. The loser pompous @APompliano who lost 80% for investors in his shitcoin fund is only seeking attention with his bet. His fund will be BUST/GONE well before 10 years”
Pompliano replied to him saying that Roubini was the candidate for the worst call of the decade.

Mark W. Yusko, the co-founder of Morgan Creek Digital also replied to Roubini’s above-mentioned thread saying that there was zero counter-party risk in the “Buffet Bet”.

A Twitter user Bitvillain replied to the same thread:
“Sounds like an easy win for you Nouriel. I think there are plenty of good charities that you could donate your winnings to. Take the bet! Surely the odds of crypto beating the S&P 500 over 10 years is close to zero. What could possibly go wrong?”
Meanwhile, on the other side of Twitter-verse, an S&P believer, Jim O’Shaughnessy, Chairman & Chief Investment Officer, OSAM, bet against the cryptocurrencies in his tweet saying that he was up for the bet.

O’Shaughnessy in subsequent tweets said that the bet was not going to happen. He tweeted:
“.@Nouriel won’t do it, @patrick_oshag (my son, the least-millennial millennial I have ever met) is tired of talking about crypto, so, no bet from us. Ah well…
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Source: AMB Crypto

Roubini is Having an “I Told You So” Moment With Crypto, But Bitcoin is up 62x Since his Call

It is no secret that Nouriel Roubini hates cryptocurrency. For most of 2018, the American economist has been smugly congratulating himself for denouncing the entire space as toxic and stating that prices were heading to zero. The problem is, Bitcoin is still up more than 60x since he first took up his anti-crypto offensive in 2014.
Temporary Bear Market Makes Nouriel Roubini More Self-Righteous Than Ever
US economist Nouriel Roubini has been all over the cryptocurrency news in 2018. He has been such a keen fixture in fact that he has been nicknamed Dr. Doom for his uber-bearish outlook. In October, for example, he put forward his own challenge for “most creative insult fired at Bitcoin” (an honour previously bestowed on Warren Buffet for his “rat poison squared” remarks) by calling crypto a “stinking cesspool”.
Later, he broke tradition amongst traditional finance-loving crypto naysayers by widening his offensive to include blockchain technology. Whereas most of those opposed to decentralised, non-statist currencies admit that blockchain tech is at least interesting, Roubini has penned a lengthy article attacking the technological innovation, titled “The Blockchain Lie”, which lambastes blockchain as being largely useless and completely over hyped.
Recently, as prices took a more severe nosedive than many were expecting them to, Roubini has once again taken to Twitter to smugly pat himself on the back for being “right” all along about Bitcoin.

Expect 1000s of crypto & blockchain ventures to go bankrupt. Almost all were total vaporware: they had no goods, services, products, software, apps. They stole the money & run. Crooks!
Bloomberg: Crypto Market Crash Leaving Bankrupt Startups in its Wake.
— Nouriel Roubini (@Nouriel) December 7, 2018

A high correlation btw how much the pompous carnival barker @APompliano talks up his fund that lost this year 90% of its value & how much Bitcoin/shitcoins in his fund collapse. Now BTC down to 3400. Maybe if he were to shut up for a while BTC may take a temp breather on way to 0
— Nouriel Roubini (@Nouriel) December 7, 2018

Better late than never…some of us have been saying and writing about it for over two years
Why a Nobel laureate in economics thinks bitcoin is toast
— Nouriel Roubini (@Nouriel) December 6, 2018

Aren’t We Forgetting Something Nouriel..?
The problem with Roubini’s “told you so-ing” is that he has actually been bleating the same old tune since 2014. If we look at BTC’s price performance over this period, instead of the one arbitrary picked by the US economist to support his own biases, we see that he has been proved anything but right. Bitcoin has shot from around $600 to well over $3,000. If we widen our lens further, we see that the number one digital asset is actually the best performing investment by far over the last decade.
In 2014, CNBC ran a story on Roubini and his pessimism about Bitcoin. The article stated that Roubini said the only use of the digital currency was criminal activities and that those transacting in it would immediately convert it back into dollars. Four years and almost $55 billion later, Roubini’s earliest attacks on Bitcoin look ill-conceived at best.
Included in the CNBC article was the following Tweet:

So Bitcoin isn't a currency. It is btw a Ponzi game and a conduit for criminal/illegal activities. And it isn't safe given hacking of it.
— Nouriel Roubini (@Nouriel) March 9, 2014

The above sentiment has been proved entirely incorrect in the years since he posted it. Reports estimate that less than 1% of all Bitcoin transactions involve any criminal activity. Meanwhile, there still has not been a single incident of Bitcoin itself being “hacked”. Sure, there have been plenty of examples of exchanges being having their security compromised but that is entirely irrelevant. If the Royal Bank of Scotland had a security breach, do you blame the pound? No, that would be ridiculous. It is the fault of the institution being negligent in their security and nothing else.
No market ever travelled straight up and in four years time, it is highly likely that the criticisms Roubini levies at Bitcoin today will once again be proved entirely wrong. That would certainly be quite the imbroglio for the outspoken economist.
Related Reading: Tech Lead at Capgemini Defends Bitcoin Against Nouriel Roubini’s Testimony
Featured Image from Shutterstock
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Nouriel Roubini invited to bet against the “Buffet Bet 2.0” by Anthony Pompliano

The latest buzz in the cryptocurrency eco-system in the first week of December is the wager made by the Morgan Creek Digital’s Anthony Pompliano aka Pomp, and the tragedy that has befallen the crypto-verse as Bitcoin plunges, testing new lows.
Nouriel Roubini was invited to bet against the performance of cryptocurrencies and S&P 500 index in a 10-year period by Anthony Pompliano.
The wager by Pomp is a page out of American business and investor magnate, Warren Buffet’s playbook. Buffet bet a brobdingnagian $1 million that the S&P, an index fund, would outperform five actively managed hedge funds. Buffet won that bet in 2017 and proceeded to donate his winnings to a charity.
Anthony Pompliano did the same thing but instead, bet that cryptocurrencies, in a span of 10 years, would outperform index funds, S&P 500. The bet, now being called as the “Buffet Bet 2.0”, invites any investor who believes otherwise to get on the other side of the bet.
Nouriel Roubini aka Dr. Doom of the crypto-verse commented on the recent crash of the cryptocurrency markets where Bitcoin’s prices went as low as $3,280, and the rest of the cryptocurrencies followed the path laid out by king coin.
In his tweet, Roubini said that the Bitcoin and cryptocurrency’s meltdown is continuing and that is nothing but a “pile of baloney manure nonsense”.

To this, Pomp tweeted saying that he was more than welcome to take the other side of the “Buffet Bet 2.0”. Pomp tweeted:
“You in to take the other side of this bet if you think crypto is going to zero?”
Roubini replied to him in subsequent but different tweets.

Pomp replied to this tweet saying:
“Everyone can check out our index fund at Thanks for the shout out, Nouriel!”
Mark Yusko of Morgan Creek retweeted Roubini’s tweet asking him to take the other side if he is so confident about the cryptocurrencies failing.

A Twitter user Crypto LADE replied:
“Haha love it Pomp! You revived Buffett’s bet and gonna play them at their own game. Balls of steel!
Roubini would be the perfect candidate to accept the bet, but we all know he’s too cowardly. Bark but no bite.”
At the time of writing, XRP had fallen down by a massive 12% and was trading at $0.22, while Ethereum [ETH] was trading at $85.02 after collapsing by a whopping 17.5%. The rest of the top-20 cryptocurrencies have all collapsed by double digits and it seems like the doom for the cryptocurrencies kicked off with the start of December.
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Source: AMB Crypto

Bitcoin [BTC] and other cryptocurrencies are on the way to a funeral march, says Nouriel Roubini

Nouriel Roubini aka Dr. Doom continues to strike down the cryptocurrency space. The economist, known for predicting the 2008 financial crisis, gained the attention of the entire cryptocurrency space by making a statement against Bitcoin [BTC] and Vitalik Buterin, the co-founder of Ethereum. This brawl went to an extent wherein the whole community wanted both Buterin and Roubini to have a debate on the cryptocurrency space.
Now, Roubini is back in the limelight because of his statement on Bitcoin [BTC] and other cryptocurrencies’ state in the market. The biggest and the very first decentralized digital currency has witnessed a massive fall since its all-time high in January 2018. The coin has lost almost 80% of its value, currently trading at $3992 on Binance, one of the leading cryptocurrency exchange platforms.
Roubini stated on Twitter:
“If it all sounds funereal it is because Bitcoin and all other crypto-currencies are on the way a funeral march!”
This remark comes in the wake of the comment made by UBS’s Global Wealth Management’s chief economist, Paul Donovan and an opinion article written by a Finance Professor, Atulya Sarin stated that ‘Bitcoin is on a death spiral’
Recently, Paul Donovan had stated that Bitcoin and other cryptocurrencies are never going to currencies and that they are “fatally flawed”. He stated that the key problem with digital currencies is that they are not going to be a store of value, as it is all about supply and demand. Donovan added that in the case of cryptocurrencies, supply cannot be controlled as a result to a drop in the demand.
Additionally, Atulya stated that Bitcoin [BTC] is “close to becoming worthless”. The finance professor further that Bitcoin is going to go zero because of the mining death spiral and due to its “run of the mill greed driven investors.”
Fabiano Anemone, a Twitterati said:
“Eventually everything comes to a end. But overall Bitcoin has bigger chances to survive than Euro. Eurozone is the real foolish idea, it’s proven to be broken, proven to be unsuccessful in contrasting major crisis, proven to damage real economies, proven to enslave democracies…”
The Endless Chain, another Twitterati said:
“It’s drank the blood from many an “average” American investor, w/no regulations and a large underbelly of ne’er do wells like rapper DJ Khaled & former pro boxer Floyd Mayweather infesting social media, it’s time to start making penalties for this sort hurt…”
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Source: AMB Crypto

Bitcoin [BTC] should be dumped; it is time to see the light, says Nouriel Roubini after Satoshi’s profile update

Nouriel Roubini, more popularly known as Dr. Doom by crypto enthusiasts for his consistently bearish stance on cryptocurrencies, recently commented on the surprise profile update by Satoshi Nakamoto, Bitcoin’s creator. On the update, which read ‘nour’, Roubini commented that “it is time to see the light and give up on the useless Bitcoin and other Shitcoins”.
The comment by Roubini comes after an update on Satoshi Nakamoto’s previously associated account. The same account was reportedly hacked in 2014. Satoshi was last known to have used his account in 2010, and the current post, which had just one word, “Nour”, has left people searching for more answers. Along with this one word, the account has also added a random person.
However, enthusiasts and twitteratis have gone all out predicting the meaning behind this post by the creator of Bitcoin. While people are suggesting Urdu and Hebrew meaning of the word, David Gerard, an author, connected the word ‘Nour’ to Nouriel Roubini and said:
“Satoshi Nakamoto is warning us that Bitcoin was a mistake and @Nouriel is correct in all his concerns”.
To this comment, Jack Palmer, the creator of Dogecoin, replied saying:
“That profile has been hijacked for many years by way of the email hack.”
Roubini took this opportunity to once again trash the crypto world. He took to Twitter to express his joy over the tweet by Gerard. He posted:

Roubini has previously too taken every opportunity to bash the crypto world and his followers, who share a love-hate relationship with him. He further said on his post:
“If economists of your kind were really competent, then our world would not be in debt and inequalities would be smaller. keep your lessons.”
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Source: AMB Crypto

Nouriel Roubini on Amazon’s new blockchain services; says it is a centralized database

Nouriel Roubini, famously called Dr. Doom in the crypto world, commented on the Amazon Web Services [AWS] announcement of launching two new blockchain services. Roubini commented on the service saying that it is not a blockchain, but a centralized database. Roubini tweeted:

Roubini’s remark garnered the attention of cryptocurrency enthusiasts who were divided on Dr. Doom’s statement. A Twitter user commented:
“a Blockchain is a concept for representing information in a structured way. it says nothing about central or decentralized. That aspect only comes into play, when there is more than one Blockchain at the same time, and you want to converge to just one. POW is a mechanism for that”.
Some others dismissed his comment as a joke. Another Twitter user said,
“Slowly, you are starting to get it. Now, read the cypher-punk manifesto.”
AWS’s Chief Executive Officer, Andy Jassy, announced the launch of the Amazon Managed Blockchain on Wednesday. This service will underpin blockchain networks that register millions of transactions. Jassy mentioned that the company has spent the past year studying the requirements of clients in blockchain solutions before creating new products.
This service by Amazon supports two blockchain frameworks, Ethereum, and Hyperledger Fabric. Jassy spoke at ReInvent 2018 conference and said:

“This service is going to make it much easier for customers to use the two most popular blockchain frameworks.”

Jassy, in his keynote at the conference, also mentioned that the companies use Hyperledger Fabric when they are aware of the number of members in their blockchain and want strong private operations and capabilities. The web service assures to scale thousands of application and will enable users to carry out millions of transactions, reported Techcrunch. Jassy added in his note:
“When we heard people saying ‘blockchain,’ we felt like there was their weird conveluting and conflating what they really wanted. And as we spent time working with customers and figuring out the jobs they were really trying to solve, this is what we think people are trying to do with blockchain.”
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Source: AMB Crypto

Monero [XMR] will be ‘cracked down’ by Feds soon, says Nouriel Roubini

Nouriel Roubini, popularly known as Dr. Doom in the crypto-space, recently tweeted stating that cryptocurrencies do not provide anonymity and it is only a matter of time before the Federal Bureau of Investigation “cracks down” on the privacy coin Monero [XMR].
The statement was made in response to an article, which mainly concentrates on a statement made by Peter Szilagyi, a core developer of Ethereum. Szilagyi, in an interview, had stressed about the information that is exposed through the blockchain technology, sometimes in “complex and unpredictable” ways.
Commenting on an article on Coin Desk about how Ethereum reveals user location, Roubini tweeted:
“So much for privacy, anonymity & censorship resistance: there is NO anonymity in crypto. Law enforcement authorities prefer transactions on crypto because it is easier to trace transactions & who is behind them than in banks. Wake up crypto zealots. & Feds will crack Monero too”.
This is not the first time Roubini has showed his dissent towards Ethereum and the Foundation members. The war started when Roubini equated Bitcoin to North Korea and Vitalik Buterin as the dictator. The joust has been going on ever since, with Roubini standing against the very concept of cryptocurrencies.
Nonetheless, this statement, like all his other statements, has riled up the whole community. Some of the members stated that this was the best part about blockchain and cryptocurrency and that this could be used to eradicate corruption.
A user, DogKick commented:
“Exactly why crypto can be such an effective tool at cracking corruption. Imagine if all public spending was this transparent.”
Another user, NimaBeheshtian made a witty remark which said:
“Feds want crypto to succeed. It’s to their best interest to have a system which tracks transactions. The ones who have been involved knew about this 10 years ago hence why the, “BTC is used to hide drug money” was such a stale and ignorant argument.”
Moreover, Roubini also commented on the financial crisis, which is believed to be the next catalyst for the adoption of cryptocurrencies. While most people in the space are propagating that when the economy and governments are going to fail, the predictor of the 2008 financial crisis still believes otherwise. He said:
“I warned about US fiscal issues well before most crypto zealots were born. So I DO NOT join forces with them on this matter. And my view is that fiscal issue will NOT lead investors to go into crypto assets that are worth LESS THAN ZERO”
The post Monero [XMR] will be ‘cracked down’ by Feds soon, says Nouriel Roubini appeared first on AMBCrypto.
Source: AMB Crypto