American Economist Nouriel Roubini Detests the Use of Bitcoin

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Nouriel Roubini
Nouriel Roubini
  • Eric has been a Bitcoin trader for the last 7 years. He lost all his bitcoin in a malicious scam of a hardware wallet.
  • Nouriel Roubini accuses bitcoin of providing zero cybersecurity. He comments on the loss of billions of dollars every day, owing to malicious
    activities.
  • Some people say that Roubini’s reaction is just a big exaggeration of the current scenario.

In a recent tweet by Nouriel Roubini, He tries to clarify why he would prefer to use a credit card rather than using bitcoin. He retweeted a thread posted by @ericsavics1, where Savic agonizes the loss of all his bitcoin in a malicious scam of a hardware wallet. Eric is an entrepreneur and a podcast host. Eric has been a Bitcoin trader for the last 7 years, and he was planning on buying an apartment in the future. He happened to download fishy Google Chrome for his hardware wallet, KeepKey. Eric has mined bitcoin worth over 113,000 US Dollars in his last seven years of trading.

Nouriel Roubini’s Anguish Over Savic’s Lost BTC

Unfortunately, there’s a very less probability that he’s likely to recover this amount
because Bitcoin transactions are the only way or in other words, irreversible. However Binance’s CEO, Changpeng Zhao has offered him a hand, by helping him to blacklist the address at which it was received. Earlier this year in May, a similar scam had been reported which mainly targeted the Ledger users.

Well, this is sad because this isn’t the first time a trader has faced a scam, the
Blockchain scams have their own vast history.

Why Nouriel Accusations Against Bitcoin?

An American economist, Nouriel Roubini was born in Turkey. He specializes in the field of international economics. He is currently a professor at New York University’s
Stern School of Business and also the chairman of the Roubini Macro Associates LLC.
It apparently is an economic consultancy firm. He has done a commendable
number of researches in macroeconomics, international finances, growth theory, and
so on. In this tweet, his caption said that this is only one out of the thousand scams
that take place daily. He also accuses bitcoin of providing zero cybersecurity and
that billions of dollars and pounds are lost every day, owing to such malicious
activities. If his credit card or bank account were to get stolen, he would get cent percent information and it would get refunded.

Well, is the security of cryptocurrency platforms so bad? Some people say that
Roubini’s reaction is just a big exaggeration of the current scenario. However let us not ignore the fact even though the Blockchain market is flourishing in recent years, more than 4 billion US Dollars were lost to cryptocurrency scams.

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