Cryptocurrency = The mother or father of all scams and bubbles

[re-start]

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.

[n0ne]

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.

[avikz]

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.

[Rruchi man]

Nouriel Roubini describes cryptocurrencies as "the mother or father of all scams and bubbles."

Scams including cyber-scams existed long before cryptocurrency became a thing, so I don't agree with his description of cryptocurrency as the mother/father of all scams and bubbles.

these are the words of someone who has no knowledge about cryptocurrencies and blockchain.

Not exactly that he has no knowledge about cryptocurrency and blockchain but rather he has wrong knowledge about it. That is, he knows about crypto, but he is largely misinformed.

[mk4]

News flash: boomer doesn't understand technology. Obviously I'm not saying that all older people can't understand tech, but a huge majority of them are simply incapable.

As for Nouriel — yea, I watched his Bitcoin-related debates and interviews religiously in the past when he was at peak publicity, and I can say with confidence that his arguments against Bitcoin are BS.

As for crypto in general being a bubble though, there's a lot of truth in it. So much overpriced garbage in the markets. While we've already had a huge market cleansing months ago, it's still not enough for the amount of trash in this industry.

As for crypto in general having a lot of scams, surprise? You give the people the authority to create whatever project they want; a huge amount of scams is expected.

[davis196]

Financial scams and price bubbles exist since the beginning of the human civilization.
Cryptocurrencies exist since 2009. How come crypto can be a "mother and father of scams and bubbles"? Roubini is simply talking BS here.
Saying that Bitcoin is an Excel sheet is like saying that paper cash is a useless piece of paper and gold is a useless metal.
So far I've never seen anyone using paper cash money as toilet paper. Isn't paper cash useless?
If creating a cryptocurrencies was as easy as creating an Excel sheet, why there aren't any good competitors of Bitcoin? Anyone can create a Google spreadsheet or Excel sheet, right?
I guess that Nouriel Roubini doesn't know what "double spending" actually means.

[re-start]

So far I've never seen anyone using paper cash money as toilet paper. Isn't paper cash useless?

Maybe in Venezuela  

[CryptoSable]

I'm afraid that the description is all about traffic

[pooya87]

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

I'm glad they make such statements because they are disqualifying themselves by making such idiotic statements that is easily false.

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.

Well, if you really think that then you just helped his name be heard considering you are reviving a news from 3 months ago.

[re-start]

Well, if you really thing that then you just helped his name be heard considering you are reviving a news from 3 months ago.

3 months ago? So why did I just see it on Instagram? Wow, Maybe I'm Roubini 

[NotATether]

3 months ago? So why did I just see it on Instagram? Wow, Maybe I'm Roubini 

Because a) Instagram's algorithm is ridiculous and rehashes stuff that were posted weeks ago or b) some account that you happen to follow made a post of it just now.

[Kakmakr]

His claim to fame are the fact that he was best known for predicting the 2007–08 subprime mortgage crisis in the United States and the subsequent global financial crisis.    Something that everyone of us are capable of doing, if you just look at the data every day..or rather if you had access to the data.  

He is still teaching at a New York University .....and making his money from teaching people old school FIAT business strategies. People like him at 64 ....will not accept disruptive technologies like Bitcoin that are challenging their old school teachings.  

[Zanab247]

Well, we have see issues like this in the community which is no longer a new thing to cryptocurrency users in the world, because it's only those who don't have ideas on cryptocurrency can made sure statement about cryptocurrency. I don't think cryptocurrency is a scam and it will never be a scam to the users because many users have seen a good results that made them to believe that cryptocurrency can never be a father or mother of all scams in the world.

[Jody.Drummer]

Apart from that we can indeed see a lot of scams here, but is it the wrong Crypto? no it's just a bunch of irresponsible people with it that makes it seem like crypto is a bad place. But there is one thing that looks even worse.
Those who criticize in the name of this are as if everything in Crypto is all the same.
Actually I'm not too affected by things like this. My first reason is maybe I really don't know the person the OP mentioned and it's the first time I've heard of this and it's the first time I've searched for this person on the search media
My second reason is that there are even more serious arguments than this from people who don't like crypto and the fact is that instead of fading away with the Hatters the popularity of crypto has actually increased.

[Baofeng]

See, you find it hilarious because it is not true and you know that Nouriel Roubini is anti crypto so everything that spew out of his mouth is nothing but lies and he really sounds stupid.

Specially with his arguments, Lol, it's very flaw in the beginning and the thing is that kind of personalities only shows up when we are in a bear market.They just try to rub it in, but we all know that sooner or later we will have another bubble (according to him), and it will be in the 6 digits minimum. 

[Lucius]

I am no longer surprised at all by people's obsession with some characters whose popularity is partially built on the fact that they constantly attack Bitcoin. It doesn't matter anymore whether they are saying that Bitcoin is used for money laundering, financing terrorism, or that the world will remain in the dark because mining consumes even 0.1% of the world's energy.

For those who don't know, Roubini is known as Dr. Doom and that nickname suits him perfectly, because he is one of those eternal pessimists and people who obviously enjoy predicting when something bad will happen, and enjoy it even more when something bad happens.

His explanation of the blockchain best describes how much of an expert he really is, because what he calls a "sheet in excel" is something that even some of Bitcoin's biggest opponents accept as a genius invention that can serve in various segments of society to make it more transparent and honest.

[blockman]

They've been telling that a long time ago, let them be. Nothing's gonna happen if we're going to notice all they say. All the words they say are just the same. Roubini is part of the anti-bitcoin/crypto organization that has nothing to say but is always against cryptocurrencies. If someone famous would tell the same thing to their investments, I wonder what's going to be his reaction about it. But anyway, pro-bitcoin aren't the type of people that they are portraying.

[Nrcewker]

Nouriel Roubini describes cryptocurrencies as "the mother or father of all scams and bubbles."

Listen mate each coin has two faces.
If we blame something for it’s disadvantages then it’s not fair to be honest.
I mean there are also many advantages of cryptocurrencies. Why aren’t you guys highlighting those?
It depends on a user to how to use the features.
So we can conclude that cryptos need not to be blamed for the scams that has been happening here. Rather the users are the main culprit.

[Haunebu]

Never heard of this dude before, but I have now thanks to you op which implies that he has succeeded in attracting attention regardless of whether it's positive or negative. You didn't need to share this stuff at all to be honest.

Ignoring such silly fools is the best solution since debating with them about the pros and cons related to cryptocurrencies is pretty much pointless.

[Raflesia]

We must be aware that in this case we have 2 groups that will always be there, namely the pros and cons there.
We cannot rule out the pros and cons of this. When we see one person who comments against crypto why should we bother with it. after all in the end this will only be the same as before which was considered the wind and then disappeared. I'm not bothered by this.