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Nouriel Roubini has recently predicted that Bitcoin would fall to zero. Between the fall in the price of Monday, Roubini and Tone Vays continue to make the monster.
On November 16th, Bitcoinist he reported on the NYU professor Nouriel Roubini's Twitter proclamation in which he said: "I could gloat about the fact that Bitcoin would fall by 10% in one day to $ 5700. But this is still a way for ZERO where Bitcoin belongs."
Crypto's perpetual critic also noted that BTC is the "Mother of all toxic pollutants and environmental disasters" and told the US Senate that BTC is the […] the mother of all the scams and the bubbles ".
I might gloat about the fact that Bitcoin would drop by 10% in one day to $ 5700. But this is still a way for ZERO where Bitcoin belongs. In fact, since Bitcoin is the mother of all toxic pollutions and environmental disasters, its true fair value is highly negative with the right externality tax
– Nouriel Roubini (@Nouriel) November 14, 2018
Return to It
How the bitcoin price (BTC) 00 dropped on Monday, Roubini took it back on Twitter. This time it was in response to a tweet from Tone Vays published as a follow-up to a May 8 tweet that listed Vays' projections for BTC price results. Vays post urged HODLER to march forward:
UPDATE: Now $ 4.975 hit, the last one $ BTCUSD Outlook Price%:
35% – Falls below $ 2K as a minimum final
20% – The minimum will be in the $ 2-3K range
15% – The minimum will be in the $ 3-4K range
10% – The minimum is NOT available yet, but we remain above $ 4K
20% – #Bitcoin ended!
Plan: #HODL pic.twitter.com/GVXmG1bNEj– Tone Vays [@Bitcoin] (@ToneVays) November 20, 2018
Nouriel Roubini's response to Vays included his set of probabilities, Roubini is decidedly less optimistic. Roubini warned HODL as Vays, describing them as masochists. Speaking of strict maternal figures and masochistic tendencies, it is obvious that Roubini feels strongly about his projections.
How can you recommend to HODL since you assign an error of 35% below 2K, 55% below 3K, 70% probability below 4K? Should your HODLer lose from 80% to 90-95% from the peak after having already lost 75%? Given your chances anyone who is not a total masochist will download all of his BTC now! https://t.co/DWQrLzLgGH
– Nouriel Roubini (@Nouriel) November 20, 2018
Vays was quick to respond, citing his HODLing experience during the real estate crisis. For Vays, Roubini's hypotheses about the nature of bitcoins are imperfect. Vays offers his own interpretation, which postulates that BTC is "tangible" and "NOT a stock:"
The same reason why I hated my apartment during the real estate crisis. For me #Bitcoin It is NOT a stock, it is something tangible (yes we are not on agreement). For those who see only $ BTC as a negotiable asset to make more $, they could have a different plan. Too much risk for ME to go out in the short / medium term.
– Tone Vays [@Bitcoin] (@ToneVays) November 20, 2018
A running saga
On September 2nd, Bitcoinist reported on a previous square off between Vays and Roubini that occurred at the BlockShow event of this year. The highlights of the video below are an excellent primer on the fundamental differences between Roubini and Vays.
During the panel, moderated by the founder of LDJ Capital, David Drake, pseudo-agreement points were reached – like the shared notion that something other than BTC is "useless", "scammy" or "fraudulent", as Roubini says.
Vays is much more optimistic about the possibilities of bitcoin 00 and its ability to match the capabilities of traditional legal currencies. This is in stark contrast to Roubini, who plays the skeptic in history.
Optimism is still measured, comparing the crypt with nuclear waste: dangerous if stored improperly. Like the nuclear proponents themselves, Vays remains a supporter despite such risks.
While the talking heads begin to play throughout Tuesday and the rest of the week, one thing is certain: Roubini and Vays are not ready soon.
What do you think of the fall of BTC and the Roubini-Vays saga in progress? Let us know in the comments below.
Images courtesy of Shutterstock, Twitter (@Nouriel, @ToneVays).
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