Bitcoin (BTC) Nouriel Roubini believes that the next US President Joe Biden will go beyond Donald Trump to control cryptocurrency.
In a lively Twitter debate on December 24, Roubini, known for his aversion to digital currencies and his ability to misidentify market bottoms, characterized the sector as a “flop.”
Robini to the bitcoin lawyer: “You are wrong.”
Robbeny responded to Jake Cherwinski, a lawyer who studied the implications of the latest news that U.S. lawmakers are demanding that stablecoin payments be used on the AML / KYC operations chain.
Chervinsky argued that this idea does not currently have “absolutely zero chance” of becoming enforceable law. Instead, he represented the “personal opinion” of Steven Mnuchin, Trump’s finance minister, who was quickly succeeded by Bidens’ elected Janet Yellen.
Rubini replied, clearly angry: “You are wrong.”
Biden’s team, starting with Yellen, who was the director of the CEA, will fight this criminal tax evasion and much more AML-KYC-TFC cesspool cryptocurrency / shitcoins than Mnuchin. Bring to life as I get hired as a cheerleader / digital coin assistant. ”
Bitcoin and altcoins refuse to die this year
Crypticists in cryptocurrency revived this week after news that the US Securities and Exchange Commission (SEC), the US regulator, has decided to file a lawsuit against the blockchain payment network Ripple. Ripple, the largest investor in the fourth largest cryptocurrency, XRP, has had a 60% drop in the value of the token after the press release.
Meanwhile, commentators noted that Bitcoin has barely responded to the lawsuit. However, long-term opinion polls have shown that many are still concerned about the potential impact of the government ban on Bitcoin’s success.
Proponents say this is impossible. They argue that the most effective way for governments to reduce the demand for decentralized assets completely is to restore free markets with a reliable monetary standard such as gold, which is unlikely.
“Bitcoin cannot be easily blocked,” summed up Seifedin Ammous, author of The Bitcoin Standard last year.
“If people want to use it, they will find a way. If you want to stop it, you will undermine the incentive to use it. Nothing can do this as a free market within gold standard banks. ”
Comparison map of bitcoin and historical bubbles. Source: James Todaro / Twitter
Meanwhile, Roubini’s prospects look bleak if he continues his current critique of bitcoin and altcoins. As the data show, turnover fell almost entirely with minimum domestic prices for BTC / USD, which made the economist an occasional pioneer for those who wanted to enter the market profitably.
Co-critic Peter Schiff has a similar track record when it comes to Bitcoin itself.