Nouriel Roubini aka Dr. Doom, the man who is best known to have predicted the financial market collapse of 2008 three years in advance recently shared an opinion on the cryptocurrency space. In one of the tweets, Roubini stated that the crux of the cryptocurrency world, decentralization, is a myth. The economist displayed much aggression and further compared the blockchain space with North Korea, citing centralization in crypto-mining and exchanges.
In the same post, he also marked Vitalik Buterin as a dictator, along with a generalization that all the developers in the cryptocurrency space are dictators. In his words:
“Decentralization in crypto is a myth. It is a system more centralized than North Korea: miners are centralized, exchanges are centralized, developers are centralized dictators (Buterin is “dictator for life” ) & the Gini inequality coefficient of bitcoin is worse than North Korea”
This is not the first time that Roubini has initiated a thought process of the sort. Previously, a series of his posts have implied a similar viewpoint on the cryptocurrency world. A few days ago, Dr. Doom shared a notion that most of the cryptocurrency and blockchain media is PR that, like ‘crypto-con parasites’, lives off a bubble.
Furthermore, he stated the journalists in the cryptocurrency space are sycophants who have been bought by the ‘crypto-con artists’. He added that the people working in the crypto-media have no shame and regurgitate the content put forth by ‘scammers’.
Roubini has also gone as far as to compare Bitcoin to a drunk hippopotamus. Here, he wrote:
“…this sluggish lame BTC dinosaur barely cranks 5 transactions per second…even Visa can deliver 25K per second…”
The economist does not have a cynical approach towards the crypto-world alone. He called out the blockchain technology exclusively, stating it to be over-hyped where cryptocurrency is considered to be the biggest bubble and scam in the human history.
FAMUAce, a Twitter user and a blockchain space follower also synced an opinion into the comments thread and stated:
“Crypto was never as democratic as it was purported to be. It is an attempt to shift power from one set of elites to another set of elites. The ultimate lack of scalability is the main indicator of this power shift.”
Another crypto-follower stated against the opinion of Roubini and said:
“This is pretty ridiculous. Going by this logic, “decentralized” basically has no meaning at all.”
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