Lubini: Bitcoin is a joke, blockchain is neither decentralized nor safe

Lubini: Bitcoin is a joke, blockchain is neither decentralized nor safe

Sina US stocks news Beijing time on July 4th news, Sina Finance comprehensive report, this Tuesday at the 2019 Asian Block Summit (ABS) in Taipei, the "Dr. Doom" is the American economist Lubini Criticize the cryptocurrency "without reservation."

Lubini said at the outset that Bitcoin is useless. More than 90% of Bitcoin transactions are fake. Not only is Bitcoin fraud, but all other hundreds of cryptocurrencies are also fraudulent, including ICO (first generation). The currency issue is a bunch of ridiculous things full of scams. 90% of ICOs are fraudulent projects, and the remaining 10% have never been successful, because the current blockchain projects are not scalable at all and have no potential for development.

Unlike other big names who doubt Bitcoin but are open to its underlying blockchain technology, Roubini is even more at the blockchain technology, saying that the blockchain is neither centralized nor secure.

Roubini said that the blockchain is one of the most over-expected technologies in history, and sooner or later it will collapse. The technologies that everyone is worshipping are just wasting money and time.

Roubini said that the current bank is centralized, but it is safe and scalable, and decentralization is not safe at all.

As long as the private key is lost, the currency is gone, and even if it is placed on the blockchain, there is a risk of being hacked. The only safe way is probably to put it in a cold wallet, and this is simply going back to ancient times, and it’s no different from putting money in a cave. (Investor Network)