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“Economist Nouriel Roubini says Bitcoin is a gigantic speculative bubble”- Business Insider | $7,143.47

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bitcoin and other cryptocurrencies – this is something entirely different. In my opinion, there is a gigantic speculative bubble related to the bitcoin…

…Because this is neither a serious method of payment nor a good way to store capital. The bitcoin feeds on itself. There are no fundamental reasons for its price to reach such levels. What’s more – it is also used by criminals, for their shady business. I think that more and more countries will start to make cryptocurrency exchanges illegal like China did. New regulations will be adopted. So, this will find its end.

Eulogy made by Nouriel Roubini

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Zsofia takes care of our readers’ questions. Zsofia started mining Bitcoin, then some altcoins with the available AMD GPUs together with her brother. Although her mining activity has stopped by now her passion for blockchain technology and cryptocurrencies remains.

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2 comments on ““Economist Nouriel Roubini says Bitcoin is a gigantic speculative bubble”- Business Insider | $7,143.47”

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  1. You are wrong on this, as stated below all new technologies (engine as mentioned) have their doubters. From $o.oo8 in 2009 to $7k last week…. I think it’s a solid technology and valued currency.

    Let me know why amazon just bought three (3) bitcoin exchanges……

  2. What’s more – it is also used by criminals, for their shady business.

    Where is your evidence that bitcoin is prefered by criminals for their shady business? I am pretty sure criminals would always be happier with cash than anything that is so simple to track like transactions on the bitcoin block chain where everything is recorded about each and every transaction by anyone that wants to see.

    I remember reading once that the internal combustion engine would never replace the horse. How very wrong. Similarly is the statement “Because this is neither a serious method of payment nor a good way to store capital” The serious method of payment already exists in many different commercial settings with now atms provided for getting cash with the value of bitcoins. I think your statement does not foresee the advantages or the false news put about by the very industry that has most to lose and that is the big banks who see the errosion of their huge profits from transfers of money which can be achieved at a fraction of the cost using bitcoin.

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