Cryptocurrencies Are the 'Mother of All Scams'

[vnatale]

From all I've read here there seem to be FEW fans of cryptocurrencies here?

Vinny

Roubini: Cryptocurrencies Are the 'Mother of All Scams'

Testifying before the Senate Banking Committee, Roubini also lays into blockchain and argues the "real revolution" is in fintech.

https://www.thinkadvisor.com/2018/10/11 ... f-all-sca/



Cryptocurrencies are the “mother of all scams,” and blockchain is “the most overhyped — and least useful — technology in human history: In practice it is nothing better than a glorified spreadsheet or database,” Nouriel Roubini, professor of economics at New York University’s Stern School of Business, told senators on Thursday.

Roubini, who famously predicted the 2008 credit and housing bust, testified before the Senate Banking Committee during a hearing on the cryptocurrency and blockchain ecosystem, that the “crypto bloodbath is in full view” and that “the new refuge of the crypto scoundrels is ‘blockchain.’”

He proclaimed that the “entire cryptocurrency land has now gone into a crypto-apocalypse as the mother and father of all bubbles has now gone bust.”