Monday, July 15, 2019

Roubini agrees with Trump on Bitcoin

President Donald Trump personally tweeted recently saying : I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.... Economist Nouriel Roubini replied to this tweet saying that this the first time ever he agrees with Donald Trump : first time I agree with Trump : no country, not even USA skeptical of excessive regulations, will allow the wild west scams of unregulated crypto with no AML/KYC, being a bank or money servicer with no bank license/regulations. Get used to it you crypto fools/scammers. Start to comply or disappear! Roubini Said. Economist Nouriel Roubini has openly expressed his disdain for all things cryptocurrrency by calling it shitcoin, scams etc at several times. In a post on Twitter, he targeted Ethereum calling the ICO which the second largest cryptocurrency has “just a scam”. He went further to say the ICO was aimed at filling the pockets of a small group of insiders including Vitalik Buterin. The sale was not a fair one and that Crypto is the mother of all scams. The only way to be “safe” in crypto is to go back to the Stone Age. He took another swipe at Crypto security. Poking the idea behind Cold Storage and Paper Wallets, he pointed put that the idea of cold storage and paper wallet is exactly like the Stone Age and that crypto is taking us there. “Write your private key on a piece of paper and hide it in a mattress and hope you aren’t victim of a crypto robber or of paper eating rats” he said.

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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