HomeCryptoEthereumRoubini returns to criticize Ethereum

Roubini returns to criticize Ethereum

Roubini, the well-known American economist, named “Dr Doom” for his always rather gloomy predictions, has returned to criticize Ethereum in response to a tweet by founder Buterin.

Vitalik Buterin’s Ethereum criticized by economist Roubini

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Nouriel Roubini reveals himself against Buterin and his Ethereum blockchain

“Dr. Doom”, aka Nouriel Roubini, one of the first economists to predict the 2008 subprime mortgage bubble, seems to be unable to avoid speaking disparagingly about cryptocurrencies

The renowned economist and professor at New York University, who is now known for his numerous, mostly gloomy predictions on the state of the world economy, had something to say about the Ethereum blockchain, after he had already described it as a currency with no intrinsic value in 2019.

This is why he went so far as to predict that Ethereum would soon come to be worthless. For once, it is safe to say that one of his predictions did not turn out to be exactly right, considering that, after three years, Ethereum is still worth around $2,000, despite its ups and downs.

This time Roubini took issue with the supposed complexity of the Ethereum blockchain, in a tweet replying to a message from the blockchain’s founder Vitalik Buterin, which read: 

“Remember that you should always test your dApp with at least one non-MetaMask wallet (eg. Brave, Status browser). Make sure your dApp conforms to Ethereum standards, and not just to accidental properties of one particular wallet!”.

The criticism extends to Solana and cryptocurrencies in general

Not happy about this, taking a cue from a Financial Times article about a possible plan by Buterin himself to save the economy also thanks to cryptocurrencies and blockchain, Roubini tweeted ironically calling it a bizarre idea to say the least.

At the same time, he also criticized the Solana blockchain, calling it just like all the others, neither secure nor reliable nor decentralized, but just a total mess like all cryptocurrencies.

In short, it certainly seems that Roubini has a bone to pick with cryptocurrencies, 99% of which have no reason to exist according to him. 

Perhaps the fact that he is always so critical of the world of cryptocurrencies could become even more outlandish, if it were confirmed what Bloomberg reported five days ago.

According to the article, the American economist has been working for several months on a project to develop a suite of financial products, including a tokenized asset intended to act as a “more resilient dollar” in the face of rising inflation, climate change and civil unrest.

Vincenzo Cacioppoli
Vincenzo Cacioppoli
Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.