Nouriel Roubini AKA Doctor Doom
Pier Marco Tacca / Contributor

Crypto/ICO

The Return of Doctor Doom

David Rosh Pina
09 October, 2018
1 min read
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Prominent economist and crypto-skeptic Nouriel Roubini is steering the pot again. Known the world over as “Doctor Doom” for predicting the 2008 market collapse well in advance, Roubini,  who is also a professor at New York University’s Stern School of Business, called Bitcoin the biggest bubble in human history last year, predicting that its value would go down to zero.

Who is Nouriel Roubini and why does he matter?

Nouriel acquired the moniker "Dr. Doom" in 2006 when in an address to the IMF he predicted that, among other things, the U.S. 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.

What did he say?

After attacking IBM newly launched Food Trust service for being a centralized operation, Roubini 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"

Other bombastic quotes

In another tweet a few minutes later, Doctor Doom 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":

Calling this a Blockchain is a joke: it is private, "permissioned & trusted", not distributed, not based on a consensus mechanism & all managed by IBM in a centralized way. Calling"Enterprise DLT" a Blockchain is a joke. It is a centralized database 
https://t.co/p1Lza0kkY4

— Nouriel Roubini (@Nouriel) October 8, 2018

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

cryptocurrency Nouriel Roubini Buterin Blockchaim