Dr. Doom Is In The News Again, Calling Crypto “A Big Fake Thing”

Nouriel Roubini, known as “Dr. Doom” is in the latest cryptocurrency news again – discussing cryptocurrency and going in a debate with the major crypto advocate Roger Ver. According to Ver, the crypto naysayer had “clearly lost the debate.”

The two squared off at the Queen Elizabeth II Conference Center, in the Westminster neighborhood. They talked about crypto in front of 500 people and said that the crowd was restive, booing and shouting, especially at Dr. Doom towards the end of the confrontation. It all started when Ver talked about one app and how it presents the idea of “uncensorable money.” As he explained, “This is a wonderfully powerful tool for every single human being on the planet.”

Roubini, known as Dr. Doom, demurred and said that governments “will crack down on you” and told Ver that he is “delusional” just like the concept of crypto, which must follow anti-money laundering and know-your-customer regulations in order to positively be accepted by the crowd. The comebacks by Roubini were mainly personal and were seen as direct attacks on Ver. The fact that cryptocurrencies are down by more than 95% from their all-time high prices, Dr. Doom took the freedom to describe crypto as a “big fake thing.”

The New York University professor attacked Ver on many occasions. However, the latter defended himself and the concept of crypto and pointed out that while “every asset is down from its peak… if you’re looking at how much cryptocurrencies are up since a couple of years ago,” the gains are still significant. Prior to Bitcoin’s 2017 bull run, he said that the decentralized asset spent most of 2016 trading in the $400 to $1000 region.

Ver also said that in 2011, “Bitcoin went from $30 down to $2—so that’s more than a 90% drop—but now here it is. It’s not $2 anymore, it’s thousands of dollars—so his arguments don’t hold water with me. And I don’t think anybody in the crowd was schooled either.” As to Dr. Doom’s claim that “no one” was using cryptocurrencies, Ver said that “clearly people are using it – we are at a big, giant conference of people using cryptocurrencies, and there are conferences every single week about it.”

“If [Roubini]  wants to close his eyes and plug his ears and claim nobody’s using it—well, that doesn’t change reality one bit. People are using cryptocurrencies,” Roger Ver added.

Dr. Doom heckled out of the room before journalists were able to get his take on the debate, saying that he “has to catch a plane.”