Roubini wrong: the dollar is the biggest bubble in human history

Roubini Says Bitcoin Is the ‘Biggest Bubble in Human History’
By
Joanna Ossinger
February 2, 2018, 12:25 PM GMT
From

• Casts doubt on utility of blockchain as a technology
• Bitcoin is below about 60 percent from December peak

Nouriel Roubini Says Bitcoin 'Much Worse' Than Tulip Mania

Nouriel Roubini, Roubini Macro Associates chairman, calls Bitcoin the "mother of all bubbles."
“Dr. Doom” isn’t mincing his words when it comes to the crypto boom and bust.

Nouriel Roubini of Roubini Macro Associates said Bitcoin is the “biggest bubble in human history” and this “mother of all bubbles” is finally crashing, in an interview with Tom Keene and Francine Lacqua on Bloomberg Television. Bitcoin dropped below $8,000 Friday, a 60 percent tumble from its peak of $19,511 on Dec. 18.

It isn’t just Bitcoin, Roubini added. There are more than 1,300 cryptocurrencies or initial coin offerings, and “most of them are even worse” than the largest digital token. These constitute a “a bubble to the power of two or three,” he said.

Blockchain has “been around for 10 years, and the only application is cryptocurrencies, which is a scam,” the New York University economist added.

In another salvo aimed at crypto bulls, Bitcoin is an “environmental disaster,” he said, citing its soaring energy costs.

 

Bitcoin is a proxy for the IQ level of many of your closest relatives.

Approaching zero

 

What is your net worth? I will toss you for it.

 

Tell you what, post one winning live trade and I declare you the winner.

 

All hat, no crypto. What is your net worth? Do you take ethereum if I lose?

 

SoesWasBetter has run away! Obviously doesn't want to admit that they have missed the greatest opportunity for personal wealth creation in human history. It is not over yet.

 

I/WE/US add another waste of time to the block list.

 

You don't understand the money supply. Your house is the same as it was when you bought it. Why did it go up in price? The money supply and the availability of credit increased. Ditto all assets that are deflationary including crypto.

I think you should apologise for the personal insults as you are not brave enough to gamble your net worth with people who are wealthier than you.

 

congrats on #1 cop out of the year. it is expected and humorous.

 

And you don't understand crypto supply.

cough FORKS cough

But hey, I make you a doubling deal. If you send me $5 in BTC I send you back $10 in LTC. I am willing to do this for every $5 you send to me. Easiest 100% you ever made!