Nouriel Roubini is at it again, calls crypto decentralization a “myth” 24762 Nouriel Roubini and cryptocurrencies
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Nitin Murali
Oct 9, 2018 at 1:21 AM

Nouriel  Roubini, a prominent economist and professor at New York University’s Stern School of Business is at it once again. In his latest tweet, he fired another salvo at cryptocurrencies, stating that decentralization of cryptocurrency is a myth and compared cryptos to North Korea.

Known the world over as “Dr. Doom” for predicting the 2008 market collapse well in advance, Roubini called Bitcoin the biggest bubble in human history last year, predicting that its value would go down to zero.

He acquired the moniker "Dr. Doom" in 2006 when in an address to the IMF he predicted that, among other things, the US economy was at risk of a housing bust and deep recession that would have dire consequences for the rest of the world and was roundly ridiculed for it.

In his latest tweet, he has compared cryptocurrencies to North Korea:

"Decentralization is a myth: miners, exchanges, developers are centralized (Buterin is "dictator for life" ) & the inequality coefficient of BTC is worse than North Korea that has the worst inequality on earth. Crypto beats Kim Un Jung in regards to centralization & inequality" 

Gini index is a measure of distribution, used to evaluate economic inequality in a specific country or region. In another tweet a few minutes later, he compared the inequality coefficient of Bitcoin to that of North Korea’s, calling it worse.

"Miners, exchanges, developers are centralized [...] the inequality coefficient of BTC is worse than North Korea that has the worst inequality on earth. Crypto beats Kim Jong-un in regards to centralization and inequality." 

In another tweet on Monday, he took a swipe at "Enterprise DLT":

Earlier this year in June, Roubini had stated that Ethereum smart contracts are neither smart nor contracts, calling it buggy, BC Focus reported.

“‘Smart Contracts’ are neither smart nor contracts: they are extremely buggy -100 bugs per 1000 lines of code – & they are not contracts as no court can enforce them. The only courts in the crypto land are the crypto developers’ kangaroo courts who randomly decide when to fork or not,” he said.

See Also:

Roubini denounces crypto at a Blockchain Summit

“Dr. Doom” to be present at the senate hearing on cryptocurrency

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