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Old Man Yells at NFTs after abandoning his yelling efforts at Bitcoin and crypto in general.

A well-known US economist Nouriel Roubini has had his fair share of criticizing BTC in the past. He successfully predicted the 2008 bubble but we all know that want so hard to do if you were even mildly informed about the economy and the events surrounding it.

In 2018 he constantly claimed that [Bitcoin is a bubble](https://www.theguardian.com/technology/2018/feb/02/bitcoin-biggest-bubble-in-history-says-economist-who-predicted-2008-crash) while also telling the congress that Bitcoin is the “[mother of all scams](https://www.cnbc.com/2018/10/11/roubini-bitcoin-is-mother-of-all-scams.html)”. The validity of his points was questionable, to say the least because he obviously didn’t even have the information required to debate an abstract and completely new concept. The shortest “debunking” I found is [this](https://steemit.com/bitcoin/@proofmaster/nouriel-roubini-knows-a-lot-less-about-blockchain-and-crypto-than-you-actually-think).

Now, our celebrated economist seems to be having trouble wrapping his head around NFTs and the tokenized economy in general. Again, he is making claims while also being half-informed on the subject. It is a reoccurring theme with old people that think they know shit even though they are out of the loop for more than a decade.

The point of this post isn’t to criticize economists or old people, it’s just a reminder that you should make up your mind based on your own decisions. The people that should be on top of things aren’t spending enough time on research and most of the time they are yelling SCAM, it ends up being complete bull shit.



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6 Comments

  1. Yup. And don’t ever forget that the state of Massachusetts actually banned purchases of Apple stock when it went public in 1980 because they deemed it too risky.

    So these talking heads and government representatives are no different from your uncle, grandparents, or uneducated neighbor sometimes. People fear what they don’t understand and often can’t be bothered to really understand it if they already made up their mind about it. They can’t take the reputatioal hit of backtracking, they just hope people will forget what they said if they are wrong.

  2. **Bitcoin(BTC) Basic Info:** [Website](https://bitcoin.org) – r/Bitcoin – [Abstract](https://www.reddit.com/r/CryptoWikis/wiki/Bitcoin_basicinfo#wiki_short_description) – [History](https://www.reddit.com/r/CryptoWikis/wiki/Bitcoin_basicinfo#wiki_history) – [Exchanges](https://www.reddit.com/r/CryptoWikis/wiki/Bitcoin_basicinfo#wiki_exchanges) – [Wallets](https://www.reddit.com/r/CryptoWikis/wiki/Bitcoin_basicinfo#wiki_wallets)

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  3. i’m just curious who invented bitcoin… who is behind satoshi nakamoto. And why it would even matter. Because the mainstream media is constantly pushing people to sell there coins because it would be devastating if people knew who he really was.

    Thats the media for ya… selling panic haha

  4. Bitcoin is only a scam if enough people believe it’s a scam. So the question is, what seems more like a scam? Something that can’t be manipulated and its value inflated away by a continually worsening government, or something that can?

    The dollar is the scam. The question is not if, but when enough people understand this.

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