Cryptocurrency = The mother or father of all scams and bubbles

[dothebeats]

That's a stretch. Scams and bubbles existed even before cryptocurrency was a concept. Roubini at this point is just trying to make waves across the space to gain some attention, and sure enough he did. Describing blockchain as "nothing more than a sheet in Excel" is overly simplifying the concept of an cleverly-crafted ledger built through cryptographic means. Either this dude has been burned by crypto and is now on a rampage to tarnish its reputation or he didn't come in early at the space and is looking to bring the price down to buy in

[1715496825]

1715496825

[PX-Z]

Also, he thinks that blockchain is a simple thing and blockchain is nothing more than a sheet in "Excel"!

The time you will think that anything he said against blockchain or crypto is useless and all biased when you see/read this kind of comparison.
I dont know that guy is but look like he's more stupid than i could imagine.
Is there anyone who will be anti-bitcoin/blockchain that has more sense than this guy?

[m2017]

These accusations against bitcoin, similar to Nouriel Roubini's words in sound and content, will continue, if not forever, then definitely for a very long time. There will always be people-opponents of bitcoin, progress and the future, trying to show off their awareness and possession of unique knowledge available only to them. That's just for some reason, people like Roubini can't bother to try to study and understand the technology better and closer. If not in order to see the advantages and opportunities, but at least then to find weaknesses and weighty arguments for their criticism and accusations. All words like him for the bitcoin community look funny or only annoying, but for people who are far from bitcoin it can have a misleading and repulsive effect, which is undoubtedly bad.

[Anonylz]

It is normal to be in doubt about something you have no knowledge of, I believe it has happened to many people hearing about crypto for the first time but only those who have the willingness to explore and learn new things will come around eventually.
Nouriel is very ignorant of what btc is and the benefits associated with it. There is no need to take the word of an ignorant person too seriously. A bubble that has lasted for more than a decade and still going......

[freedomgo]

Exploring more about cryptocurrencies, it is possible to see even worse statement on bitcoin. This is nothing new, and if you take those as mere words then they're words. People who are in a dilemma whether cryptocurrency is good or bad will dig deep. What is more required than stating a technology based product dead, just because the market drops.

This is just one of those hundreds attacks for cryptocurrency, and clearly words from people who act as if they know everything, but in reality they are dumb and less knowledgeable individuals. And people like these should never be heard and should be ignored as newbies might easily believe in them and fall for them. However, if you have faith in crypto, you will never be bothered at all. Seems like people have everything to say, and the best thing to do is to never let them controlled our own thoughts and perceptions.

[coupable]

Nouriel Roubini describes cryptocurrencies as "the mother or father of all scams and bubbles." Also, he thinks that blockchain is a simple thing and blockchain is nothing more than a sheet in "Excel"!

https://www.consultancy.uk/news/31267/most-consumers-do-not-trust-cryptocurrencies

This position is nothing new.
In fact, we do not see such reactions from users in the field of crypto or ordinary people from specialists in the financial field, for example, or from specialists in electronic crimes or even money laundering.
These positions are always issued by government officials or bank owners who do not want technology to occupy their sphere of influence, so they attack it in every way.
The response to this situation is simple and clear ; If we compare crypto with fiat money, how many times has fiat money been used in successful scams and thefts, and how many times has it succeeded using crypto? Crypto is no more than 11 years old, while money as we know it has a long and uncountable history .

[Hispo]

It is nonsense to say cryptocurrencies are the "father/mother of all bubbles" since that would imply bubbles had an origin within cryptocurrencies, when we know for a fact that bubbles were born before Bitcoin and other digital assets, actually bubbles are the result of a traditional economic model glued together with Trust.

Those who compare the Blockchain technology with a Excell Spreadsheet have no appreciation for decentralization and they do not care for others (and even themselves) to be the ones fully responsible for the management of their assets.

[Fivestar4everMVP]

I have learnt to stop paying attention to negative things people say about bitcoin and crypto currencies in general, this is due to several reasons -
1. I've discovered that most of the negative things some individuals say about bitcoin comes with a hidden agenda of trying to bring the price of bitcoin down so they can buy it cheap ~ it a manipulation strategy.
2. I've also discovered that some individuals just want to become popular by all means,  and knowing that what ever negative things say about bitcoin will be picked up and announced withing the whole cryptocurrency community,  they use this means as a way of spreading their names.

So my advice is,  ignore all fud,  ignore every negative things being said about bitcoin and crypto currency,  this people know exactly what they are doing.

[edgycorner]

Also, he thinks that blockchain is a simple thing and blockchain is nothing more than a sheet in "Excel"!

His brain is nothing more than a lump of carbon compounds.

Seems like he can't comprehend the concept of decentralization. He should attack the people(DoKwon,3AC,etc) instead of the technology.

He was born in a rich family with traditional wealth, Bitcoin feels like a threat to him for obvious reasons. People who are on the top, will try to deter changes which can topple the current status quo. No surprises here.

[KingsDen]

In as much as this isn't the first time we hear such clueless claim, we always should be ready to defend or enlighten people about what they allege of bitcoin.

First, bitcoin and cryptocurrency is barely a decade old, then before then, scam has been and we know the records in US, even the one that involve retirees  funds. So, bitcoin cannot just overtake and suddenly become a father and mother of what has been in existence before it was created.

If he says that blockchain is just a sheet, well may he should go and edit the chain and claim bitcoin without mining. Or does he need a password to access the excel sheet?

When I'm on the internet, I scroll pass most of these baseless articles because they were only relevant in bitcoin first 5years, they have lost relevance and we should stop making them more popular.

[darewaller]

It is not a shock to see some people who still do not understand what bitcoin is all about. I mean it is clear to me that there will be "some" experts who will come out and say that bitcoin is bad because they are scared of what bitcoin could do and if they are wrong about it then they are going to be left hanging while everyone else is making money.

Imagine the situation where we are talking about how making money is so easy if you just hold bitcoin, and these people have jobs that is only about making money for everyone and yet they would fail to make money as much as we do. Isn't that a bit of a problem already? So, they hope that bitcoin sucks and it's bad, that is all there is to it.

[nurilham]

I have always seen detractors of Bitcoin and cryptocurrencies. But this one, it's hilarious.
In my opinion, these are the words of someone who has no knowledge about cryptocurrencies and blockchain. Also, I think that his only reason for saying such things is to become a little more famous and we hear his name on social media.

There are already many haters of Bitcoin and crypto who made hilarious or strange statements. You shouldn't be so surprised about it. I don't think Roubini doesn't know crypto or blockchain, he just acted like he has no knowledge. Sure, one of his goals is to be popular or to attract people's attention. If we react to his statement excessively, he finally succeeds to achieve his goal. So, ignoring it is the best way to respond to it. In this way, he can't get anything, he wasted time only by making that controversial statement.

[Sanitough]

Exploring more about cryptocurrencies, it is possible to see even worse statement on bitcoin. This is nothing new, and if you take those as mere words then they're words. People who are in a dilemma whether cryptocurrency is good or bad will dig deep. What is more required than stating a technology based product dead, just because the market drops.

It's certain that a lot of scams are really happening in the crypto market, not because its a playground for scams, but because scammers find more  profit potentials in cryptocurrency than in fiat system. Where there are money and profits, there's always bubbles and scams. However, its not enough reason that we should stay away from this crypto market. There's a lot of opportunities here to increase your finance, as long as you are also willing to make the best of it and never be afraid in taking risks.

[romero121]

I have always seen detractors of Bitcoin and cryptocurrencies. But this one, it's hilarious.
In my opinion, these are the words of someone who has no knowledge about cryptocurrencies and blockchain. Also, I think that his only reason for saying such things is to become a little more famous and we hear his name on social media.

There are already many haters of Bitcoin and crypto who made hilarious or strange statements. You shouldn't be so surprised about it. I don't think Roubini doesn't know crypto or blockchain, he just acted like he has no knowledge. Sure, one of his goals is to be popular or to attract people's attention. If we react to his statement excessively, he finally succeeds to achieve his goal. So, ignoring it is the best way to respond to it. In this way, he can't get anything, he wasted time only by making that controversial statement.

It have become a way to be popular through controversial statement. It is always a good choice to go with the trend. Right now the trend is with the cryptomarket, and so it Roubini have revealed statements of connected with cryptocurrency. When the market reacts, automatically these people turn to be influencers. Lets wait, soo this person will state bitcoin in a positive way.

[TimeTeller]

Exploring more about cryptocurrencies, it is possible to see even worse statement on bitcoin. This is nothing new, and if you take those as mere words then they're words. People who are in a dilemma whether cryptocurrency is good or bad will dig deep. What is more required than stating a technology based product dead, just because the market drops.

It's certain that a lot of scams are really happening in the crypto market, not because its a playground for scams, but because scammers find more  profit potentials in cryptocurrency than in fiat system. Where there are money and profits, there's always bubbles and scams. However, its not enough reason that we should stay away from this crypto market. There's a lot of opportunities here to increase your finance, as long as you are also willing to make the best of it and never be afraid in taking risks.

The crypto market has been the playground of a lot of scammers because they can move here anonymously.
But it doesn't mean that this market is not good because of these scammers.
It is only one negative facet of crypto but you need to consider the positive side of this market.
If you will consider the positive side and learn more about the impact of this technology to various industries,
blockchain tech can indeed resolve a lot of bottleneck in the operations as well as address the transparency of managing the business.

[Russlenat]

Since the inception of bitcoin, we have seen multiple attacks and detractors from known or little known personalities. I still remember when Jemie Dimon attacked bitcoin, how badly the market reacted. But now we are immune to such attacks and it doesn't matter anymore who says what about cryptocurrency and blockchain.

But such statement can only come from ignorance and lack of knowledge. Let people speak what they want while we will contine to enjoy a path braking innovation like bitcoin for our benefit.

Seeing a lot of multiple attacks for cryptocurrency does not bring negativity by all means. Its even for us to realize more that there is more in crypto that keeps triggering them, that is why we should keep it even more and continue to build profit opportunities. Scams are everywhere, and its even worst in fiat, the reason why we should never be bothered at all as these people have only nothing to say but to ruin the reputation of cryptocurrency, most particularly with bitcoin. Let them say what they want, as they will never be profitable doing that way.

[wxa7115]

Nouriel Roubini describes cryptocurrencies as "the mother or father of all scams and bubbles." Also, he thinks that blockchain is a simple thing and blockchain is nothing more than a sheet in "Excel"!

https://www.consultancy.uk/news/31267/most-consumers-do-not-trust-cryptocurrencies

Like WT* 
I have always seen detractors of Bitcoin and cryptocurrencies. But this one, it's hilarious.
In my opinion, these are the words of someone who has no knowledge about cryptocurrencies and blockchain. Also, I think that his only reason for saying such things is to become a little more famous and we hear his name on social media.

There is no point arguing with someone that believes they are right when they are so wrong and they are proud of it, it is better to let people like them believe whatever they want as anyone that knows a little bit about bitcoin knows that what he is saying is completely false.

After all even if we know that there are in fact scams and bubbles in this market, the biggest bubble of all is the bubble of fiat currencies, and sooner or later it is going to explode and it will allow bitcoin to gain way more support as people will use it to protect themselves from the effects of that crisis.

[kamvreto]

Nouriel Roubini describes cryptocurrencies as "the mother or father of all scams and bubbles." Also, he thinks that blockchain is a simple thing and blockchain is nothing more than a sheet in "Excel"!

How I love such stupid sayings in an attempt to put cryptocurrencies in some negative light. How many times have cryptocurrencies been used to create scams and bubbles? A lot of? And how many of these same scams and bubbles were created long before the advent of cryptocurrencies, with the help of fiat? And these scams, investment pyramids appear every day, but for some reason few people talk about it, but if this happens in cryptocurrencies, then that’s it, it must be announced. It reminds of double standards, when at one time cryptocurrencies were accused of money laundering and drug purchases, and the fact that, compared to fiat, the use of cryptocurrencies is generally negligible, was of little concern to anyone.

Cryptocurrencies are always the scapegoats when it comes to fraud and bubbles in cryptocurrency. Whereas before the existence of crypto it was just a common and even frequent case. However, double standards are applied to cases when crypto is detected as a place for fraudsters to transact and as a place for money laundering. Whereas when they are criminals doing with fiat there is not the same assessment as crypto.

in modern times like today those who say the platform is a source of problems (cryptocurrency) then they become a society that does not follow developments, only seeing the negative side regardless of what benefits can be obtained.

[Leviathan.007]

They can say whatever they want and still, people will not accept their describes bitcoin and cryptocurrencies, I see many other people who believe in the same way and I always ask when if they leave there were no crimes and scams before cryptocurrencies and bitcoin they have nothing to say, bitcoin is a tool and it depends on you about how to use it. Due to being decentralized no governments and organization can monitor and take control ove,r it that's why these people are scared about it otherwise the scammers exist with or without cryptocurrencies and bitcoin.

[Raflesia]

All these similar conversations are the most ordinary stupid manipulation from persons who pursue their own interests. But these people tend to change their minds about cryptocurrencies often. At first they talk about cryptocurrencies badly, then cryptocurrencies become part of their business. Suffice it to recall the statements of PayPal or Goldman Sachs. Read how they spoke about bitcoin in 2018, they said publicly that bitcoin is the greatest scam and bubble.

In the end everyone only has their own interests here because indeed when people talk about this especially they are people who have names there not only for fun but for their personal gain because in essence even though this doesn't have much effect on crypto at least they have a name and popularity lol.
Don't be surprised when some statements change from his