Sunday, November 18, 2018

Nouriel Roubini: Bitcoin Is Going To Zero Value ‘Where it Belongs’

Nouriel Roubini
Here's the latest from Nouriel Roubini n Bitcoin.

And he is largely correct, Bictoin is a major league pump and dump:
I could gloat about Bitcoin collapsing 10% in a day to $5,700. But that is still some way to ZERO where Bitcoin belongs. Actually, since Bitcoin is The Mother of All Toxic Pollutions & Environmental Disasters it’s true fair value is highly NEGATIVE with the right externality tax.
There is NO anonymity in crypto. Law enforcement authorities prefer transactions on crypto because it is easier to trace transactions and who is behind them than in banks. Wake up crypto zealots & Feds will crack Monero too.
There’s a lot of talk about decentralization. Miners are centralized as an oligopoly, coders are centralized, exchanges are centralized – as 99 percent of all transactions occur on a centralized exchange – and there’s a massive concentration of wealth. This is worse than North Korea in terms of income and wealth inequality


(via BitcoinExchangeGuide)

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