After Bashing Cryptocurrency Industry to Washington DC, Nouriel Roubini Is Expected to Debate with Vitalik Buterin
NYU Stern’s Dr. Nouriel Roubini is no fan of the cryptocurrency industry, and he’s never hidden his negative opinion, even when his claims have been false. However, he’s still holding onto his major prediction regarding the 2008 financial crisis, which gave him credence to the claims.
Roubini earned the nickname “Dr. Doom” recently when he spoke at the U.S. Senate Committee on Banking, Housing, and Community Affairs, showing his cynical view on the industry. He spoke about the cryptocurrencies and blockchain technology, tearing them apart. Name-calling was common, as he called Bitcoin “the mother of all scams” and blockchain “the most hyped tech ever.”
Still, the majority of the comments were senseless with no foundation, as hard as he tried. The testimony amounted to 37 pages, using much of the same language and warnings that regulators use to deter governments from seeing the industry positively. One of the common arguments he used was that decentralization has no place, because of how ineffective they are and how they impact the environment.
The committee listened with open minds and ears, but many people would say that the ranting about cryptocurrency has had no impact at all on its success. Some of the optimists of the industry even think that his comments were more to encourage the community to come together, rather than dividing it.
Roubini certainly hadn’t had his fill at the hearing. Instead, he immediately jumped on Twitter to continue speaking out, saying, “Yes Whales of the World Do Unite to Prop Up Your Stinking Cesspool That is In Meltdown!!” Users came back with their own attack, though Roubini ended up blocking many of the analysts, commentators, and other leaders who responded.
It seemed that one of the few he continued to engage with was Vitalik Buterin. The conversation got so heated that Laura Shin, who is a journalist in the cryptocurrency world, thought to ask both parties if they would like to engage in a live debate outside of Twitter comments and posts.
Buterin quickly agreed to have some speaking time on Shin’s podcast, while it took a little more coaxing to convince Roubini to do the same. However, the stipulation that Roubini put out was that Shin would not moderate the debate, saying that she was, “biased shill pretending to be pseudo-journalists.”
To make the scheduled debate more even, Buterin suggested using Kevin Pham, who is adamantly against traditional economies and centralized systems. As such, Pham hates both Ethereum and the traditional market alike. The only request he made was that industry leaders need “to make it happen.”
Right now, the full details about what will happen in the debate are still being worked out, though any viewers of the upcoming podcast will be in for a good show.