Dr Doom Calls Bitcoin Cash [BCH] a Shitcoin in a Debate With Roger Ver

American economist Nouriel Roubini aka Dr Doom recently declared his contempt for Bitcoin Cash (BCH) in a debate with the promotor of the cryptocurrency, Roger Ver. The debate was a part of this year’s CC Forum – Blockchain and AI Investment Forum in London in which Dr Doom publicly announced that BCH is a “shitcoin”.
 Dr Doom Vs Roger Ver – Is Crypto a Store of Value or Not?
The topic of the debate was “Will cryptocurrencies fail or succeed?” Roubini began by refuting the opinion that cryptocurrencies are actually currencies on the grounds that they were not a sound, stable store of value and therefore, could not be used for payments. Bitcoin and thousands of other cryptocurrencies were not used for pricing goods and services. He also talked Bitcoin’s lack of scalability. Roger Ver responded to the Roubini’s points by reminding him that the market cap of cryptocurrencies had grown over $200 billion in just 10 years. About Roubini’s point on using crypto for payments, Ver cited the example of Bitcoin Cash, which, he said, could do more than a 100 transactions per second globally for free.
However, Roubini wasn’t convinced. To substantiate his point about crypto not being a stable store of value, he remarked that Bitcoin was 60% below the peak, whereas Roger Ver’s Bitcoin Cash was 95% below the peak this year, further saying that assets which lost 95% of their value in just 12 months were a joke. Ver, however, had an analogy to prove that even fiat lost its value. He cited the example of the Japanese Yen, saying that today, 10,000 Yen were equivalent to about 90 USD. However, not a long time, a single Yen could buy an ounce of silver. Today, the piece of paper which was worth about 90 USD, had a value of about 20,000 USD in the past.
Is Crypto Useful in the Event of Geopolitical Shock?
The moderator of the debate then pointed that crypto usage increased in the event of recession, citing the example of the Greek government debt crisis. Roubini, as expected, refused to acknowledge the same. Instead, he said that cryptocurrency usage, and the number of transactions and users had collapsed since the all-time high of crypto in 2017. Ver was quick in pointing out that Roubini was “cherry-picking” his data. Crypto usage today was much higher than it was even a year before the market cap had had hit its 2017 ATH.
Dr Doom then cited the example of the rise of the internet. From 1990 to 2000, it had garnered billions of users and websites, and some important applications like email. But with crypto, that has not been the case. Bitcoin only has 50 MM users officially and half of them are dead. When it comes to DApps, the most popular DApps are Crypto Kitties, Casino Games or Ponzi Schemes. Ver again quoted the example of how movement of money had emerged as the strongest use case of crypto – millions of users transacting with one another without any barriers.
McAfee Okay With Terrorist Activities Happening Through his Exchange
At a point during the debate, the moderator brought up John McAfee’s new decentralised exchange, which did not have any KYC requirements. He shared that McAfee, in an earlier session, was asked about his opinion on how would he feel if a terrorist was caught and it was proven that they had used his exchange to commit the terrorist act. To this, McAfee responded that he would be okay. In support of McAfee’s answer, Ver said that US dollar was the currency that being used the most in terrorist activities, but that did not mean that the world would stop using the currency.
“Your Shitcoin Collapsed 95% in a Year” – Roubini to Ver
The debate delved into the right and wrong of crypto with Roger Ver repeating that people should be allowed to have control over their money and Roubini stressing over and over again that the kind of financial anarchy that Ver talking about had never existed and never would. At one point, Roubini had an outburst where he had said that it had taken a 100 years for the dollar to collapse 95% whereas Roger Ver’s “shitcoin” collapsed in a year. He said –
“[It] took a year for your shitcoin to collapse 95%. It’s worth nothing.”
An infuriated Roubini further said that Ver did not believe in the government, but buying explosives on the internet was his idea of freedom. Roubini even personally attacked Ver by bringing up the point of him having spent time in jail. Ver used this point to his advantage and pointed out that Roubini was losing the argument as he had started “attacking the person rather than the arguments here.”
Bitcoin is Not Decentralised But the Traditional Financial System Is – Roubini
The debate shifted to the topic of centralisation and decentralisation. Roubini argued that the traditional financial system was decentralised as it had thousands of financial institutions and hundreds of banks and currencies involved in controlling it, whereas Bitcoin was centralised because 80% of mining was in the control of a few hands and 99% of cryptocurrency exchanges were centralised. To this, Ver said that decentralisation was not the main argument in favour of cryptocurrencies and its only purpose was to make cryptocurrency censorship-resistant.
The debate concluded with questions from the audience, and in this, Roger Ver, supporting cryptocurrencies because of the financial freedom they offered to users, was a clear winner.

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Source: CoinGape

Bitmex restricts service in Seychelles, Hong Kong and Bermuda – Here’s Why!

Popular Seychelles-based crypto derivatives trading platform, BitMEX has announced that it is closing its platform to three jurisdictions. The announcement was made in other to ensure the safety of its customers’ funds as well as the stability of the platform.
According to the official announcement, the regions affected by the restriction include Seychelles, Hong Kong, and Bermuda. Customers of the derivative trading platform based in these three listed regions will not be able to continue accessing the platform’s services. These three jurisdictions are where BitMEX parent HDR Global Trading Limited’s users and offices are located.
According to the official announcement,
“This change will have no financial impact on the business and will affect very few people. The BitMEX team will be reaching out to those who are affected,” the firm said in a statement. BitMEX also added that the firm welcomes the involvement of regulators in the cryptocurrency industry and that regulators will provide “a new era of legitimacy for cryptocurrency exchanges: a future where market operation standards are clearly stated and maintained, where security is paramount, and where financial reserves are independently and frequently audited.”
This comes after reports that the U.S. Commodity Futures Trading Commission (CFTC) is probing the firm to determine whether it went against regulations in the form of servicing US traders. BitMEX is not registered with the CFTC and counts the U.S. as one of the jurisdictions in its restricted access list.
The Genesis Of The Situation
This news is rather expected than a surprise to anyone who followed the derivative exchange’s tangle with popular economist and crypto antagonist, Nouriel Roubini about a month ago. BitMEX’s CEO, Arthur Hayes was engaged in a debate with Roubini in Taipei along with discussions focussing on cryptocurrencies.
Thereafter, Roubini ramped up a campaign against BitMEX which then led to CFTC investigating the trading platform. In the days following the events, BitMEX had experienced a huge outwards funds flow and the daily trading volume had dropped drastically. The platform’s social media also stopped updating.
The post Bitmex restricts service in Seychelles, Hong Kong and Bermuda – Here’s Why! appeared first on Coingape.
Source: CoinGape

Roubini’s “The Great Crypto Heist”, Amid CFTC Probe BitMex Bleeds $524M in Outflows

Nouriel Roubini’s aka Dr. Doom’s severe censure of the crypto derivatives platform, BitMEX, has reportedly landed the company in serious trouble. BitMEX, amid rumors of a full-fledged CFTC probe, experienced $524M in outflows in July while the rest of crypto community enjoyed a bull-market. 
Did Arthur make a mistake by meddling with Permabear Roubini?
The chain of events leading to BitMEX losing over half a billion dollars started with a debate between Nouriel Roubini, economist and crypto skeptic and Arthur Hayes, CEO of BitMEX. 
At the 2019 Asia Blockchain Summit at Taipei, Roubini was invited to debate with Hayes on the subject of cryptocurrencies – whether they are a scam or the future. Just a few days before the debate, Roubini had tweeted on an update by BitMEXResearch about BitMEX achieving over $9 billion in trading volume and $1 billion in open interest on the Bitcoin perpetual swap contract. Roubini’s comment implied that these figures were not reliable as 95% of all bitcoin transactions on a typical exchange were fake.
Source: Twitter
In the debate, Roubini maintained his typical hostile attitude towards cryptocurrencies.
He claimed that the cryptocurrency industry was characterized by “shitty behavior” with scammers and criminals and that Bitcoin was not “not secure, not decentralized and is not even scalable”. 
He also shared his view on other emerging technologies including artificial intelligence (AI), Big Data, the Internet of Things (IOT) saying that the revolution in the fintech space was already happening with these technologies and it did not need cryptocurrencies. “We don’t need that cesspool of stinking shi*coins,” stated Roubini. 
Hayes argued for the value propositions offered by cryptocurrencies, especially digitization of money and decentralization. “In 50 years, if Alibaba, Facebook, and Google control everything, people will like that thing that isn’t controlled by the large companies. Bitcoin won’t be a niche market,” Hayes emphasized.
The debate also saw discussion around fake volumes on crypto exchanges, regulatory uncertainty and Facebook’s upcoming Libra cryptocurrency.
Roubini’s “The Great Crypto Heist”
Nearly two weeks after the debate, Roubini attacked cryptocurrencies again with his article “The Great Crypto Heist”. The article began with inflammatory remarks on cryptocurrencies and regulators’ attitude towards them –
“Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel.”
The article went on to describe the problems with BitMEX, namely, its unregulated nature and that it’s business model that involved “ peddling to “degenerate gamblers” (meaning clueless retail investors) crypto derivatives with 100-to-one leverage”. Roubini further explained that “with 100-to-one leverage, even a 1% change in the price of the underlying assets could trigger a margin call and wipe out all of one’s investment”.
Further, Roubini accused the platform of charging high fees and drawing the investors’ savings into a “liquidation fund” that was disproportionately large for avoiding counter-party risk. The crypto skeptic also shared that BitMEX insiders had revealed to him that the exchange was not doing anything to stop terrorists and other criminals from Russia and Iran who were using the exchange for money-laundering at a massive scale. 
The platform’s condemnation continued with Dr. Doom saying that it was not following adequate AML/KYC regulations and that US and UK investors, who were not allowed to use the platform due to regulations, were using it anyway by masking their IP addresses with standard VPN applications.
The severe consequences for BitMEX
Rumors suggest that the article and the Taipei tangle triggered CFTC’s probe into BitMEX’s operations. The probe, reportedly aimed at investing US investors’ accounts on BitMEX was announced on July 19, and by the end of July, the platform had experienced over half a billion dollars in outflows. 
BitMEX’s website has also dropped in popularity. From its #11,851 rank on July 19, it has dropped to #12,763 on Alexa.com. BitMEX’s Twitter account was last updated on July 15, while Arthur Hayes also went silent on Twitter on July 12 and updated his account with a cryptic tweet on July 31. 
Hayes’ tweet has been trolled by Twitter users and they have accused him of being a coward and going undergoing when his company is going through a probe. 
The post Roubini’s “The Great Crypto Heist”, Amid CFTC Probe BitMex Bleeds $524M in Outflows appeared first on Coingape.
Source: CoinGape

BitMEX CEO Arthur Hayes Goes Mum amid CFTC Probe Rumor

Three days after Bloomberg published a report about BitMEX facing a regulatory investigation, the crypto derivatives exchange is still without an explanation.
A quick look at the Seychelles firm’s official social media handles, including an otherwise active Twitter page of founder & CEO Arthur Hayes, shows no response about the current scandal. As BitMEX goes mum on the matter, the exchange is witnessing a more massive outflow of bitcoins from its wallet reserves. Twitterati Token Analyst on Saturday noted that BitMEX processed $85 million worth of crypto withdrawals on a 24-hour timeframe. At the same time, the exchange processed deposits of only $12 million.

24H BTC exchange on-chain flows:#binance: $58M in | $54M out#bitstamp: $52M in | $50M out#bittrex: $4M in | $5M out#poloniex: $6M in | $4M out#bitmex: $12M in | $85M out
See more at https://t.co/6AFFM1D63p
— TokenAnalyst (@thetokenanalyst) July 20, 2019

The probe, launched by the Commodity Futures Trading Commission (CFTC), focuses on whether BitMEX, a non-US entity, offered services to the American citizens. In its response to Bloomberg, BitMEX said it “does not comment on any media reports about inquiries or investigations by government agencies or regulators.”
Nouriel Roubini Attacks BitMEX – Again
BitMEX and its founding partners’ silence prompted an increase in verbal attacks from their critics. Noted economist Nouriel Roubini, who debated Hayes during the latest Asia Blockchain Summit in Taiwan, weaponized the Bloomberg report to reiterate his objection. He supported the investigation led by the Commodity Futures Trading Commission against BitMEX as he tagged Hayes’ official Twitter handle in a majority of his tweets.

Agreed. I rekt @CryptoHayes in the debate and now he is in deep trouble as the @CFTC is investigating him and his @BitMEXdotcom racket https://t.co/30GAVqk0Ob
— Nouriel Roubini (@Nouriel) July 21, 2019

“Hayes indeed got [totally] rekt at the conference,” Roubini said in a tweet. “Then [he] tried to be cocky till I destroyed him in public and exposed BitMEX scams in my ProSyn article. Then he was hit with the CFTC investigation. So for a week, he has been [quietly] hiding in his gilded Seychelles cave.”

Criticism also came from inside the cryptocurrency community. Scott Melker, a crypto trader, associated with TexasWest Capital, supported Roubini on his comments about BitMEX. He shared his tweet published on April 26, stating that what Roubini said in the recent days is something he is warning the community about for a long time. Excerpts:
“The existence of Bitmex boggles my mind. The platform can effectively steal your money whenever they want (failed stop loss, system overload), blame in on the poor tech and return nothing. It’s the biggest and most impressive scam I’ve seen. And you all accept this as normal.”

You may not be a fan of @Nouriel, but he is spot on regarding Bitmex, and I have personally described these practices via twitter a number of times. Arthur should not have poked this nest. https://t.co/MX7uM8aLcL
— The Wolf Of All Streets (@scottmelker) July 19, 2019

BitMEX Defense from Past
Hayes, in his debate with Roubini, said he does not believe the US should act as a trendsetter when it comes to regulating financial organizations. The statement, in turn, followed BitMEX’s decision to quit the North American market after the crackdown by the Canadian regulatory body Autorité des marchés financiers (AMF).
An external spokesperson said in January that BitMEX has refrained from offering services to US citizens since 2015. He added that users, nevertheless, attempt to trade on their exchange using virtual private network services.
“BitMEX has always retained the right to close any accounts and to liquidate any open positions where any BitMEX trading participant has given false representations as to their location or place of residence,” the spokesperson clarified.
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CFTC Investigates Crypto Exchange BitMEX Over Client Trades

CFTC Investigates Crypto Exchange BitMEX Over Client Trades
The U.S. Commodity Futures Trading Commission (CFTC) is reportedly probing crypto derivatives exchange BitMEX to determine whether it broke rules by allowing U.S. traders on its platform.
CFTC Investigates Crypto Exchange BitMEX Over Client Trades

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Source: CoinSpeaker

Roubini Calls Arthur A “Thug” In New Anti-BitMEX Struggles

Well known Economist turned crypto critic, Nouriel Roubini has stepped up his game on back lashing popular cryptocurrency exchange, BitMEX and its CEO, Arthur Heyes by instigating that BitMEX was a den of criminals involved in subtle illegalities and indeed called Arthur Hayes “a thug” in the process.
Nouriel Roubini took to his twitter handle to announce a platform where he claimed to have exposed the ugly truths about Arthur Hayes and his company to the public. He maintained that BitMEX was being used by Arthur to constitute illicit evasion of Anti-Money Laundering (AML)/ Know Your Customer (KYC) policies, front running, insider trading, massive scale money laundering and gouging of clients.
Exposing BitMEX’s Ugly Truth
As he seized the opportunity to unveil his new work of literature tagged “The Great Crypto Heist| by Nouriel Roubini”, he urged his followers and the crypto community at large to consider following his account of the targeted victims.
According to Roubini,
My new column where I expose the shady rekting racket that is @BitMEXdotcom run by the thug @CryptoHayes: evasion of AML/KYC, front-running, insider trading, massive scale money laundering, gouging of clients, etc.
The Great Crypto Heist by Nouriel Roubini https://t.co/79UsmlZxdr
BitMEX And Bitcoin
Following the debate at Taipei, where Arthur took on Roubini to debate a series of topics including bitcoin and Bitmex, Arthur had said that the community loved speculating and BitMEX was a platform to help them do so more efficiently. As Roubini believed BitMEX to be a predator which feeds on customers irresponsibility in trading leverage, he argued that BitMEX’s x100 leverage option was doing more harm than good to its customers. In fact, according to Roubini, a considerable percentage of BitMEX’s income depends on liquidations derived from leverage trading.
The Common Enemy
Bitcoin and Arthur Hayes seem to have a common enemy- Roubini. The popular crypto critic never misses an opportunity to air his opinion (mostly the negativities) on bitcoin at any given time. While he tried to kill two birds with one stone, he also took a jab at bitcoin and insinuated that it wasn’t a typical currency.
Going by the last 24 hours record in which bitcoin had crashed by 14% to record a price $9480, he took great pleasure in calling Bitcoin and other altcoins (which he referred to as ” shitcoins”) a joke!
According to Arthur’s tweet,
Bitcoin down 14% in last day to below 9.5K! Ouch! It must hurt to get so rekt so fast! Calling bitcoin a currency – let alone 1000s of other shitcoins – is a joke: they are not a unit of account, they are not a means of payments (5tps) and no stable store of value (-14% in a day)
The post Roubini Calls Arthur A “Thug” In New Anti-BitMEX Struggles appeared first on Coingape.
Source: CoinGape

BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital

So round 2 debate of the Tangle in Taipei, conducted between BitMEX boss, Arthur Hayes and Dr. Doom (Nouriel Roubini) has recently revealed. While the result of the debate seems nothing specific yet, the crypto community is calling it just “Hilarious”.
Round 2 – Crypto v/s Fiat v/s Digital
The best part of the debate that makes everyone exciting is that – only the Asia Blockchain Summit organizer and the BitMEX has the tapes as it was excitedly held behind the closed doors. Now the BitMEX exchange has released a second round of the tape.
The first round was based on the topic “Holy Trinity in Crypto – Decentralization, security, and scalability” wherein Roubini calls whole system “Bitcoin” as corrupt and ridiculous, and Arthur seems more financial privacy in it. Whereas the second round was focused on Crypto v/s Fiat v/s Digital.

In a second round of the tape, the footage reveals that American Economist and NY Professor, Nouriel Roubini shouts at crypto community and its leaders, yelling as “there are terrorists, criminals, tax evaders, human traffickers. Continuing his angry tone, he said there are all sorts of criminals out there’s the lots of shady stuff happening.
He further bashed at Bitcoin, shouting that this shitcoin is against the whole idea of cryptocurrency. At the center of the whole debate, Roubini pointed out at the business model of BitMEX and says that it is completely exploitative for retail investors. Above all, he believes that BitMEX is operating without sufficient regulations.
While few think the video is just Hilarious, the Moderator Andrew Neil hushed Roubini during a longer argument and shouted “Quite”. He quickly remarked
“There’s no point in the two of you talking over each other because we can’t understand a word you’re saying.” “It’s actually hard enough when you’re not talking over each other,”
Benefits of Crypto
When asked about what are the main benefits of Crypto, Arthur took up the mike and said “We need a choice” and Bitcoin represents an opportunity.
Bitcoin represents an opportunity instead of using courts laws and violence to govern how money is transferred between individuals and parties, we use open source software cryptography and math now which one successful, Arthur said. As a society, we definitely need a choice and that is what bitcoin represents a choice for a different way to govern financial transactions
While given the opportunity to Roubini on the same topic, he referred revolution is already based on artificial intelligence, big data and the Internet of Things. He further compared transactions over Bitcoin v/s transactions via Visa and states that “bitcoin is not scalable, it does five transactions per second whereas VISA does 25,000 transactions per seconds” and explains that;
There are payment systems today used by billions of people for billions of transactions a day – not 5 transactions per second and it (Bitcoin) is not scalable.
In a longer harangue, Roubini again directs back his thought to Arthur and elaborates, It is a business of one shitcoins being traded against another shitcoins and middleman like him (BitMEX/Arthur), they make money.
They don’t consider – whether it goes up, goes down, as long as their volume backs out the Commission, Roubini said.
Image Source – Video snap
The post BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital appeared first on Coingape.
Source: CoinGape

Bitcoin’s parabolic move will be boosted by ‘Central Bank money printing,’ claims BitMEX CEO

When the cat is away, the mice come out to play. As the global economy is muddled with concerns surrounding trade wars, interest rate movements, and global governance dilemmas, the cryptocurrency world is enjoying a parabolic move. Over the past few months, traditional finance has slumped, while Bitcoin has surged by 200 percent. With many […]
The post Bitcoin’s parabolic move will be boosted by ‘Central Bank money printing,’ claims BitMEX CEO appeared first on AMBCrypto.
Source: AMB Crypto

‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit?

The Tangle in Tapie between BitMEX CEO Arthur Hayes and American Economist, Nouriel Roubini has gripped the attention of the financial industry. The two opposing sides are staunch believers of their ideologies; while Hayes is a cryptocurrency fanatic, Nouriel is a staunch critic.
What made matters more impressive was the fact that the debate was held behind closed doors with no video recordings allowed by the attendees or the media. Only the organizers of the Asia Blockchain Summit, including BitMEX has the tapes.
Nevertheless, while Arthur believed that he ‘dusted’ Nouriel in the debate, the crowd seems to think otherwise. In an interview with leading Crypto-Journalist, Ran Neuner, the general sentiments of the crowd were that ‘Nouriel Roubini won the debate.’
Watch the debate highlights from the Courtesy of BitMEX here,

Roubini has been aggressively bashing Arthur Hayes and the crypto industry not releasing the tapes. He recently again tweeted,
They are hiding the whole video as CryptoHayes and BitMEXdotcom got totally reckt for once since their daily biz model is to BitmexRekt “degenerate gamblers” retail suckers with 100x leveraged toxic crypto derivatives. These folks are worse than blood-sucking leeches.
While the entire uncut version of it still yet to be released, the 100x leverage provided at BitMEX which leads to high volatility was the primary reason for concern. Even Mati Greenspan, Senior Market Analyst at eToro, at expressed doubts around it. In an exclusive interview, Arthur noted,
“This is a very exotic derivative in the backend, we were able to package it in a way that retail traders felt that they were trading on margin. He added, “And that’s bought immense liquidity to the market. And we’re able people allow to hedge larger amounts of risk because we’ve create such a speculative beast of a product.”
Hence, Nouriel’s’ direct attack on the business model of BitMEX and their most active trading product, the derivative market might have influenced the company to withhold the tapes. Moreover, his attacks on the business model further supported his argument that Bitcoin is only a ‘speculative asset.’
Therefore, while Nouriel might have won the debate, he has been proved wrong time and again. Moreover, the result of his ‘absolute doom’ predictions for the cryptocurrency industry will be reviewed in due time.
Do you think that derivatives that provide high leverage must be stopped due to volatility concerns? Please share your views with us.
The post ‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit? appeared first on Coingape.
Source: CoinGape

Nouriel Roubini back to old ways; says crypto-industry is ‘full of scammers and small criminals’

Bitcoin and the rest of the cryptocurrency market have always been subject to scrutiny and abject criticism by its critics. These comments have not just targeted major coins like Bitcoin and Ethereum, but almost all other digital assets on the charts as well. Such criticism was put in spotlight again when Nouriel Roubini aka Dr.Doom, […]
The post Nouriel Roubini back to old ways; says crypto-industry is ‘full of scammers and small criminals’ appeared first on AMBCrypto.
Source: AMB Crypto

Nouriel Roubini Threatens to Sue BitMEX CEO Over Censoring the Debate Tapes

The debate between Arthur Hayes and Nouriel Roubini at the Asia Blockchain Summit on 3rd July 2019 was a strong platform where people from two different worlds took center stage to share their independent views.
Roubini is an American Economist who is a strong critic of Bitcoin and cryptocurrencies. On the other side, Arthur Hayes is the CEO of BitMEX, which is one of the largest Exchanges in the world that offers crypto-derivates.
The debate reportedly turned sour in the end. Moreover, Arthur said that he “dusted” Nouriel in the debate. However, Nouriel has different views, he accused Arthur of not allowing media to cover it. So much so that he accused the entire crypto-industry,
Crypto is a mafia hush money racket. The blockchain conference organizers cowed and caved to BitMEX’s censorship and didnt tape or broadcast my debate with @CryptoHayes; he had his underlings make the only tape of the debate and is hiding it from view. Release that tape coward!
Roubini also accused Arthur of running a fraudulent exchange riddled with ‘insider trading, front running, flouting AML/KYC registrations’ and what not.
While are tapes or video is yet to be released, Nouriel has alleged Arthur of something absolutely offensive because according to him the tapes are being tampered with to make Arthur look good and Neuriel bad. He expressed his rage on Twitter where he also threatened to sue Arthur. He tweeted,
Because @CryptoHayes is a coward and wimp who looked like a total idiot in our debate. So he had to censor the video of the debate. A total crook and mafioso style thug
Reportedly, he also accused Arthur of criminal behavior by censoring the tapes. Whalepanda tweeted,

"I will sue them" Someone has been taking lessons from CSW. pic.twitter.com/rwIP9AU9Ck
— WhalePanda (@WhalePanda) July 5, 2019

There are a couple of other recordings and views from the debate. However, the most credible view until now has been from Ran Neuner, who said in an interview that the debate was evenly balanced and there were a couple of hard-hitting questions from Roubini that are a concern for the Bitcoin community.
Here is an audio clip of the debate re-tweeted by Roubini.

An audio recording of the debate but the sound quality is quite poor. https://t.co/UxJWbG4gSr
— Nouriel Roubini (@Nouriel) July 4, 2019

Do you think that Roubini’s outrage is justified? Please share your view with us. 
The post Nouriel Roubini Threatens to Sue BitMEX CEO Over Censoring the Debate Tapes appeared first on Coingape.
Source: CoinGape

Bitcoin Price Hits $11,500 Levels Following a Week-Long Bearish Period

Bitcoin Price Hits $11,500 Levels Following a Week-Long Bearish Period
After a week span of bearish market conditions, the number one cryptocurrency Bitcoin is back on track and currently trading above $11,000 price level.
Bitcoin Price Hits $11,500 Levels Following a Week-Long Bearish Period

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Source: CoinSpeaker

Dr Doom Dukes it Out With BitMEX Boss For Crypto Supremacy

In what has been dubbed the ‘Tangle in Taipei’, serial crypto misanthropist Nouriel ‘Dr Doom’ Roubini faced off with BitMEX boss Arthur Hayes. The crypto sparks started to fly as the language became more colorful between the two adversaries.
Dr Doom On The Warpath
Economist Roubini just can’t stay away from Bitcoin. His repugnant rants on the digital asset have been repeatedly documented, yet he still chooses to attend crypto centric conferences to rage on about what has clearly become his personal demon over the past decade.
After labeling Binance boss, Changpeng Zhao, a ‘snake oil salesman’ yesterday, Roubini has eyed up Hayes at the Asia Blockchain Summit in Taipei today as he continues to belittle everyone involved in the crypto industry. In an opening statement Roubini said:
“Shitty behavior occurs in this industry – scammers, criminals and so on. Next to me is a gentleman who works with degenerate gamblers and suckers, not accredited investors.”
The main beef here is clearly the massive leveraging of up to 100x that BitMEX offers to often inexperienced traders. He added that there was no KYC or AML at the exchange and accused it of insider trading. The tirade continued with:
“BitMEX is just an example of everything that is sick and wrong in the industry.”
BitMEX Bites Back
Hayes retorted with:
“I don’t even want to call you a professor, you went straight for me. We don’t have any marketing, we don’t seek out any people, they have found an oasis. People saw this phenomenon, real value, and decided they wanted to speculate.”
The battle raged on with Roubini reiterating the lack of regulation angle with Hayes responding that they are based in the Seychelles and not everyone needs to follow rules set by the US.
Things started to heat up when the topic moved beyond BitMEX and on to Bitcoin and altcoins, a clear red flag to Dr Doom who seemed to lose the plot here with comments like:
“We have AliPay in China and similar systems in India. We don’t need that cesspool of stinking shitcoins.”
Hayes replied stating that these systems were very convenient, yes, but they are controlled and monitored by governments and tech monopolies whereas Bitcoin and crypto is private and decentralized. He added;
“We need to get f****d by the government, before we realize how important this is.”
The full transcript was uploaded by Mike Dudas, founder and CEO of The Block.
The battle did not end there and raged on via Twitter with Dr Doom pulling the crypto mafia card.

Don’t worry our tapes will exposure your thin grasp of economics and technology. After seeing these tapes, I would be surprised if you were allowed into any higher learning institution. https://t.co/nTDQIUlaHV
— Arthur Hayes (@CryptoHayes) July 3, 2019

It is clear that Roubini stands for old school, heavy handed state control where people have little or no control over their own finances.
Both are claiming victory but in reality there are no victors when so much of the argument was bloated opinion. Dudas called it pretty even which is probably about the best we can ask for.

I was there — totally untrue. I understand why Nouriel is so upset that BitMEX forbid reporters from livestreaming or audio recording. It was a nearly dead-even debate, and both men made strong arguments. I might even call it 52/48 for Nouriel.
— Mike Dudas (@mdudas) July 3, 2019

Meanwhile Bitcoin bounced back 20 percent from its short lived correction as the bulls powered on.
Image from Shutterstock
The post Dr Doom Dukes it Out With BitMEX Boss For Crypto Supremacy appeared first on NewsBTC.
Source: New feedNewsBTC.com

Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’

The crypto-community and even its critics or gold buffs are both looking up to the epic battle between American Economist, Nouriel Roubini and BitMEX CEO, Arthur Hayes. The Asia Blockchain Summit at Taipei is hosting the event.
Nouriel is a professor at the NYU and has strongly advocated against Bitcoin and cryptocurrency since 2013. As reported on CoinGape in the mark up to the debate, Nouriel believes that cryptocurrencies are corrupted and will imminently doom.
On the other hand, Arthur Hayes is the CEO and founder of one of the largest Cryptocurrency Exchanges that offer derivates contracts on it. It reported a volume of $1 trillion over the past year, which Hayes said is coming from rising retail interest. Arthur also praised Libra and predicted that it would challenge the banking systems.
Reportedly, the debate turned sour and “heated” soon enough as the moderator asked Nouriel,
“when I say quiet you be quiet!”

Heard this is @CryptoHayes vs @Nouriel debate was like today in Taipei? pic.twitter.com/CsYEgBVxsn
— Dovey Wan 🗝 🦖 (@DoveyWan) July 3, 2019

Also Read: Also Read: Binance CEO V/S Bitcoin Critic – Nouriel Roubini Calls CZ ‘Jerk’ and Here’s How CZ Responds!
Nouriel accused crypto exchanges including BitMEX of reporting fake volume and luring the crowd. When in reality, it is still in the dark and controlled mostly by criminals. However, Arthur “begged to differ” and assured the crowd that the volume is real; and a lot is going on in crypto.
Ran Neuner, Crypto-Journalist gave a small snippet of the battle on Twitter. He reported that the battle soon heated up with Nouriel making personal and derogatory remarks at Arthur. Neuner tweeted,
Moderator “ Are you saying Arthur is a crook?”
Nouriel – “ there are laws but they are not in all jurisdictions and retail suckers are being rekt by whales” “There are reasons why there are laws and these people don’t give a shit”
Arthur eventually got agitated by the ignorant remarks and aggressive nature and replied harshly,
Arthur to Nouriel: “ I don’t even know why they call you professor. No one is forced to use our site, we dont even market it. I was going to talk about Crypto and the amazing thing happening but Nouriel decided to bash me and my business”
According to Neuriel, the amazing things are happening around cryptocurrency is insignificant. People must look forward to the ‘FinTech’ space. Arthur and the crypto-community are putting Nouriel as a ‘no-coiner’. Metlem Demirors, crypto-Analyst at Coinshares included Nouriel in the ‘no-coiner’ list with Peter Schiff who is another ‘no-coiner’ and a harsh critic.
Do you think that growth is real as well or crypto is destined to doom? Please share your views with us. 
The post Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’ appeared first on Coingape.
Source: CoinGape

Binance CEO V/S Bitcoin Critic – Nouriel Roubini Calls CZ ‘Jerk’ and Here’s How CZ Responds!

Nouriel Roubini, who is famously known as ‘Dr.Doom’ is again in a circle of criticism – and this time, with Binance CEO, Changpeng Zhao or CZ. While responding to CZ’s tweet, Mr.Roubini called him a ‘Jerk’.
Binance CZ v/s Bitcoin Critic
So, It all begun with a tweet posted by Crypto Godfather who is the CEO of Block Journal, a Blockchain Magazine – he shared a tweet, stating, Dr. Doom dropping the knowledge’ at the 2019 Asia Blockchain Summit, held on July 2nd – July 3rd at Tapei, Taiwan.

💀 Dr. Doom dropping the knowledge on this crypto conference!@Nouriel pic.twitter.com/akgOcpl5Ia
— Crypto Godfather (@CryptoGodfatha) July 2, 2019

Just to remind,  it is the same conference that many other crypto leaders, including Justin Sun from TRON, Charlie Lee from Litecoin, Arthur Hayes from BitMEX, CZ from Binance and many other known faces of crypto industry marked their presence. Moreover, it is the conference, where CZ announced Binance’s upcoming launch of Bitcoin Futures.
While responding to this Tweet, CZ commented ‘this is the 2nd conference in Asia I overlapped with him in 2019. Adding that he trolled, Does he have anything to do? Maybe he is the disguised Satoshi?
For a guy who doesn’t see the future of #crypto, but yet, spends days attending crypto conferences. This is the 2nd conference in Asia I overlapped with him this year. Does he have anything to do? Maybe he is the disguised Satoshi???
To note, Nouriel Roubini is the economist and New York University Stern School of Business professor who often seen criticizing Bitcoin – in fact, he is called as a renowned bitcoin critic. CZ’s comment was quickly gotten Roubini’s attention who in return reacted rashly at CZ and said “The most pathetic critique I have heard about me is from this Jerk CZ. In his words;

The most pathetic critique I have heard about me is from this jerk @cz_binance; I was chosen as the 3rd most influential person in the world in the crypto space coz I am the only honest critic of this shitty space who isnt talking his book 24/7 the way you do snake oil peddler https://t.co/t3BlZ2aGpH
— Nouriel Roubini (@Nouriel) July 2, 2019

And it didn’t stop here, CZ again swipes at Nouriel with a joke asking who is the Jerk here.?
A guy who builds what he believes in? Or A guy who goes to crypto conferences just to call bitcoin a scam?
This is not the first time- and definitely not the last one also – after this open troll, Nouriel Roubini is set to debate with BitMEX founder Arthur Hayes on July 3rd, 2019 which was announced by Roubini himself on his Twitter wall. He claims that BitMEX volume is fake, adding a note on BitWise study falls into exchange manipulation.

How can one believe ANY of these figures when 95 percent of all bitcoin transactions on a typical exchange are fake? Fake-coins, shit-coins, fake-transactions, fake-pricing. The only true thing in crypto space is manipulation, pump n dump, front-running, wash trading, etc… https://t.co/i43cPwjFX2
— Nouriel Roubini (@Nouriel) June 26, 2019

The post Binance CEO V/S Bitcoin Critic – Nouriel Roubini Calls CZ ‘Jerk’ and Here’s How CZ Responds! appeared first on Coingape.
Source: CoinGape