Nouriel Roubini says Bitcoin and cryptocurrencies are a bubble that has already burst, are noncompliant securities with no KYC, AML, anti-tax evasion regulation, insurance, or protection of investors. He then went on to say that decentralisation was a myth, that exchanges, miners, developers and wallets were massively centralised. That the top 5 miners control 70% of mining in Russia, Belarus and China. And that nearly all transactions are done on centralised exchanges, many illiquid and not secure, citing dozens of 51% attacks. And finally jokes that the token economy is more akin to barter as thousands of numerators don’t allow for comparative pricing.
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