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Bitcoin is the 'mother of all scams' and blockchain is most hyped tech ever

3 pointsby eruditelyover 6 years ago

1 comment

andirkover 6 years ago
(Back story: This guy is famous for in &quot;2005 Roubini said home prices were riding a speculative wave that would soon sink the economy.&quot; Giving people loans they can&#x27;t afford is obviously a bad idea.)<p>He said &quot;literally every human being I met between Thanksgiving and Christmas of 2017&quot; asked him if they should buy cryptocurrency.<p>Literally? Including babies and people who don&#x27;t know you?<p>And that it&#x27;s a bust &quot;like you have not seen in any history of financial bubbles.&quot;<p>An asset going from $1,000 to $6,000 in year has never been seen?<p>And that &quot;blockchain is the most over-hyped — and least useful — technology in human history&quot;.<p>Huh?<p>And blockchain &quot;is nothing better than a glorified spreadsheet or database&quot;.<p>OK, kind of, but now I know he clearly has no idea how a trustless, decentralized network works.