Saturday, May 5, 2018

Roubini Explodes: "Bitcoin is Bullshit"

Nouriel Roubini exploded this past week during a panel discussion on cryptocurrencies at the annual Milken Institute Global Conference in Los Angeles:

“There is no decentralization, it’s just bullshit: Roubini said, adding that a blockchain is just a “glorified Excel spreadsheet.”

Roubini went on to call Bitcoin bullshit three more times during the discussion.

“This was a bubble … the ones who arrived late to the party are the suckers," Roubini said, referring to investors who bought Bitcoin last year when it traded at $20,000. It now trades around $9,000.

Hmm, "glorified Excel spreadsheet"? Roubini has a point. It is really land area of nothing on an Excel spreadsheet. It is like owning a deed to real estate on a planet that doesn't exist. But hey, if you can dump the deed of Planet Empty off on someone else

-Robert Wenzel  

(via CCN)

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