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Nouriel Roubini lost his cool during debate with BitMEX CEO Arthur Hayes

The first videos of the highly anticipated debate between Dr. Nouriel Roubini and Arthur Hayes have been released, showing the affectionately called Dr. Doom losing his cool when the topic of Bitcoin’s scalability was discussed. The two went head to head at the Tangle in Taipei, a debate held at the Asia Blockchain Summit. The hot debate about crypto gets even hotter The debate between Dr. Nouriel Roubini, one of the most outspoken critics of the crypto industry, and Arthur Hayes, the CEO of BitMEX, the world’s second-largest crypto exchange by trading volume, has been the most anticipated crypto event of the year. The showdown happened on July. 3, 2019  in Taipei, at the Asia Blockchain Summit conference. Since then, the entire industry has been speculating as to what went down behind closed doors, as only BitMEX and the conference organizers were allowed to film the debate. Many believed BitMEX was hesitant to release the footage as it would paint the exchange in a bad light. Dr. Roubini didn’t spare any words on Twitter, either, accusing Hayes and BitMEX of hiding the video. They are hiding the whole video as @CryptoHayes and @BitMEXdotcom got totally reckt for once since their daily biz model is to @BitmexRekt "degenerate gamblers" retail suckers with 100x leveraged toxic crypto derivatives. These folks are worse than blood-sucking leeches. https://t.co/UiJcn5Mfjf — Nouriel Roubini (@Nouriel) July 8, 2019 But, after more than a week, BitMEX released two videos from the debate, showing just how heated the discussion really was. The 13-minute footage showed the two frequently interrupting and talking over each other, with the moderator Andrew Neil even resorting to shouting to calm the discussion down. Crypto industry is a “cesspool of stinking shitcoins” The video of the second round of the debate caused a stir in the crypto community, as few expected that Dr. Roubini would lose his cool. The video starts off with emotions running high, with Roubini clearly struggling to keep his composure when speaking about the “shady stuff” happening with Bitcoin. Hayes, on the other hand, seemed much more at ease, keeping a smile on his face while taking jabs at Roubini’s comments. He talked at length about how Bitcoin represents the choice people need to have when it comes to their money, offering them the option not to have governments and large corporations control their money. However, Roubini countered Hayes’ point by saying the future of finance is in fintech, and not in cryptocurrencies or blockchain. He criticized Bitcoin’s scalability, saying that there are already multiple payment systems used by billions of people that enable tens of thousands of transactions per second. Related :If You Listened to Nouriel Roubini in 2013, You Lost Out 108x Return on Bitcoin Roubini cited AliPay, WeChat Pay, UPI, M-Pesa, Venmo, and PayPal as examples of successful centralized systems. Those systems, he said, were “real things” with “real business models” that make money that do transactions for “real goods and services.” Cryptocurrencies, on the other hand, aren’t used for “real transactions,” and the entire industry was just a business of “trading one shitcoin against the other one. Roubini also called out BitMEX, saying it was nothing more than a “middleman making money off of shitcoins worth nothing.” But, however surprising Dr. Roubini’s comments might be, they’re in line with most claims made by crypto skeptics. So far, neither he nor Hayes made any groundbreaking arguments to support their sides, leaving much of the public disappointed. We’ll all have to wait for the entire debate to be released until a true winner can be declared. The post Nouriel Roubini lost his cool during debate with BitMEX CEO Arthur Hayes appeared first on CryptoSlate.
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BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital

So round 2 debate of the Tangle in Taipei, conducted between BitMEX boss, Arthur Hayes and Dr. Doom (Nouriel Roubini) has recently revealed. While the result of the debate seems nothing specific yet, the crypto community is calling it just “Hilarious”. Round 2 – Crypto v/s Fiat v/s Digital The best part of the debate that makes everyone exciting is that – only the Asia Blockchain Summit organizer and the BitMEX has the tapes as it was excitedly held behind the closed doors. Now the BitMEX exchange has released a second round of the tape. The first round was based on the topic “Holy Trinity in Crypto – Decentralization, security, and scalability” wherein Roubini calls whole system “Bitcoin” as corrupt and ridiculous, and Arthur seems more financial privacy in it. Whereas the second round was focused on Crypto v/s Fiat v/s Digital. In a second round of the tape, the footage reveals that American Economist and NY Professor, Nouriel Roubini shouts at crypto community and its leaders, yelling as “there are terrorists, criminals, tax evaders, human traffickers. Continuing his angry tone, he said there are all sorts of criminals out there’s the lots of shady stuff happening. He further bashed at Bitcoin, shouting that this shitcoin is against the whole idea of cryptocurrency. At the center of the whole debate, Roubini pointed out at the business model of BitMEX and says that it is completely exploitative for retail investors. Above all, he believes that BitMEX is operating without sufficient regulations. While few think the video is just Hilarious, the Moderator Andrew Neil hushed Roubini during a longer argument and shouted “Quite”. He quickly remarked “There’s no point in the two of you talking over each other because we can’t understand a word you’re saying.” “It’s actually hard enough when you’re not talking over each other,” Benefits of Crypto When asked about what are the main benefits of Crypto, Arthur took up the mike and said “We need a choice” and Bitcoin represents an opportunity. Bitcoin represents an opportunity instead of using courts laws and violence to govern how money is transferred between individuals and parties, we use open source software cryptography and math now which one successful, Arthur said. As a society, we definitely need a choice and that is what bitcoin represents a choice for a different way to govern financial transactions While given the opportunity to Roubini on the same topic, he referred revolution is already based on artificial intelligence, big data and the Internet of Things. He further compared transactions over Bitcoin v/s transactions via Visa and states that “bitcoin is not scalable, it does five transactions per second whereas VISA does 25,000 transactions per seconds” and explains that; There are payment systems today used by billions of people for billions of transactions a day – not 5 transactions per second and it (Bitcoin) is not scalable. In a longer harangue, Roubini again directs back his thought to Arthur and elaborates, It is a business of one shitcoins being traded against another shitcoins and middleman like him (BitMEX/Arthur), they make money. They don’t consider – whether it goes up, goes down, as long as their volume backs out the Commission, Roubini said. Image Source – Video snap The post BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital appeared first on Coingape.
CoinGape

‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit?

The Tangle in Tapie between BitMEX CEO Arthur Hayes and American Economist, Nouriel Roubini has gripped the attention of the financial industry. The two opposing sides are staunch believers of their ideologies; while Hayes is a cryptocurrency fanatic, Nouriel is a staunch critic. What made matters more impressive was the fact that the debate was held behind closed doors with no video recordings allowed by the attendees or the media. Only the organizers of the Asia Blockchain Summit, including BitMEX has the tapes. Nevertheless, while Arthur believed that he ‘dusted’ Nouriel in the debate, the crowd seems to think otherwise. In an interview with leading Crypto-Journalist, Ran Neuner, the general sentiments of the crowd were that ‘Nouriel Roubini won the debate.’ Watch the debate highlights from the Courtesy of BitMEX here, Roubini has been aggressively bashing Arthur Hayes and the crypto industry not releasing the tapes. He recently again tweeted, They are hiding the whole video as CryptoHayes and BitMEXdotcom got totally reckt for once since their daily biz model is to BitmexRekt “degenerate gamblers” retail suckers with 100x leveraged toxic crypto derivatives. These folks are worse than blood-sucking leeches. While the entire uncut version of it still yet to be released, the 100x leverage provided at BitMEX which leads to high volatility was the primary reason for concern. Even Mati Greenspan, Senior Market Analyst at eToro, at expressed doubts around it. In an exclusive interview, Arthur noted, “This is a very exotic derivative in the backend, we were able to package it in a way that retail traders felt that they were trading on margin. He added, “And that’s bought immense liquidity to the market. And we’re able people allow to hedge larger amounts of risk because we’ve create such a speculative beast of a product.” Hence, Nouriel’s’ direct attack on the business model of BitMEX and their most active trading product, the derivative market might have influenced the company to withhold the tapes. Moreover, his attacks on the business model further supported his argument that Bitcoin is only a ‘speculative asset.’ Therefore, while Nouriel might have won the debate, he has been proved wrong time and again. Moreover, the result of his ‘absolute doom’ predictions for the cryptocurrency industry will be reviewed in due time. Do you think that derivatives that provide high leverage must be stopped due to volatility concerns? Please share your views with us.   The post ‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit? appeared first on Coingape.
CoinGape

Dr. Doom Lays Into Bitcoin & BitMEX After Tangle in Taipei

Bitcoin V.S. The World Yesterday, two behemoths in the Bitcoin (BTC) world butted heads: Nouriel “Dr. Doom” Roubini and Arthur Hayes. The former is a career markets cynic that famously called 2008’s Great Recession; The latter is the chief executive of BitMEX, famous for his no-filter attitude and his eerily accurate crypto market calls. Held at Asia Blockchain Summit, one of the region’s largest cryptocurrency-related events, “The Tangle in Taipei” debate saw the duo try and trash the other, no holds barred. While both sides claimed victory, Roubini, a New York University professor, claims that he won. In a tweet following the debate, which was actually barred from being livestreamed/recorded, the Bitcoin skeptic urged BitMEX to release the video. Roubini quipped that he “destroyed” Hayes, before calling the industry executive a coward for not publicly releasing the tapes. The economist continued his tirade in latter tweets, in which Roubini poked fun at BitMEX for offering high leverage on its cryptocurrency markets, which he suggests is much like a drug of gambling. “Hayes spent half of the debate today defending his shady biz model of peddling 100x leverage crypto derivatives to retail suckers,” Roubini wrote, evidently not fine with the fact that debate ended hours ago. Another @CryptoHayes scam: he didnt allow the blockchain conference to record our debate or beam it live. He controls the only recording of it and will only release heavily edited "highlights". I destroyed @CryptoHayes in the debate and he is hiding. RELEASE THE TAPE YOU COWARD! https://t.co/khNEDM60uN— Nouriel Roubini (@Nouriel) July 3, 2019 While many in the cryptocurrency community have dismissed Roubini’s attempt to get Hayes to “release the tapes” as nothing but a bluff, attendees of the event have claimed that the spat was actually closer than the two sides say. Mike Dudas, the chief executive of trade publication The Block, called the parley “dead-even”, noting that both sides made “strong arguments”. Dudas even went as far as to say that Roubini may have squeaked out a win, snagging an anecdotal “52 to 48” victory. I was there — totally untrue. I understand why Nouriel is so upset that BitMEX forbid reporters from livestreaming or audio recording. It was a nearly dead-even debate, and both men made strong arguments. I might even call it 52/48 for Nouriel.— Mike Dudas (@mdudas) July 3, 2019 So, what exactly was said? And, which side many better points? A Historic Spat Well, according to notes published by Dudas, Roubini centered his sights on how BitMEX is unregulated, offers “risky” products, could be employing insider trading, could be registering fake Bitcoin volumes, and makes money off “suckers”. While there aren’t any direct quotes from the shouting match, the economist was trying to make it clear that the aforementioned exchange is not a net benefit for the cryptocurrency space, but is instead a way in which BitMEX can accumulate wealth for themselves. Hayes rebutted by explaining that BitMEX’s growth has been entirely natural, his firm’s operations are honest, and that 100x leverage isn’t mandatory. The BitMEX chief went on to explain that abiding by the regulations of the U.S. isn’t mandatory, because the nation’s regulators aren’t the end all and be all of the cryptocurrency game. The discussion then took a step back, giving the two a chance to talk more about Bitcoin and blockchain as a whole. As normal, Roubini took the stance that Bitcoin isn’t needed in today’s economy, is centralized, not scalable, has better alternatives, and is backed by questionable characters. Hayes also took his normal stance, claiming that in a world where government-surveyed fintech is becoming commonplace, a private money like Bitcoin is needed. As someone that wasn’t able to attend the debate for logistical reasons, I can’t tell you who won, or if Roubini’s attempt to get the tapes released is logical. But, soon enough, we should have our answers. Photo by Almos Bechtold on Unsplash The post Dr. Doom Lays Into Bitcoin & BitMEX After Tangle in Taipei appeared first on Ethereum World News.
Ethereum World News

Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’

The crypto-community and even its critics or gold buffs are both looking up to the epic battle between American Economist, Nouriel Roubini and BitMEX CEO, Arthur Hayes. The Asia Blockchain Summit at Taipei is hosting the event. Nouriel is a professor at the NYU and has strongly advocated against Bitcoin and cryptocurrency since 2013. As reported on CoinGape in the mark up to the debate, Nouriel believes that cryptocurrencies are corrupted and will imminently doom. On the other hand, Arthur Hayes is the CEO and founder of one of the largest Cryptocurrency Exchanges that offer derivates contracts on it. It reported a volume of $1 trillion over the past year, which Hayes said is coming from rising retail interest. Arthur also praised Libra and predicted that it would challenge the banking systems. Reportedly, the debate turned sour and “heated” soon enough as the moderator asked Nouriel, “when I say quiet you be quiet!” Heard this is @CryptoHayes vs @Nouriel debate was like today in Taipei? pic.twitter.com/CsYEgBVxsn — Dovey Wan 🗝 🦖 (@DoveyWan) July 3, 2019 Also Read: Also Read: Binance CEO V/S Bitcoin Critic – Nouriel Roubini Calls CZ ‘Jerk’ and Here’s How CZ Responds! Nouriel accused crypto exchanges including BitMEX of reporting fake volume and luring the crowd. When in reality, it is still in the dark and controlled mostly by criminals. However, Arthur “begged to differ” and assured the crowd that the volume is real; and a lot is going on in crypto. Ran Neuner, Crypto-Journalist gave a small snippet of the battle on Twitter. He reported that the battle soon heated up with Nouriel making personal and derogatory remarks at Arthur. Neuner tweeted, Moderator “ Are you saying Arthur is a crook?” Nouriel – “ there are laws but they are not in all jurisdictions and retail suckers are being rekt by whales” “There are reasons why there are laws and these people don’t give a shit” Arthur eventually got agitated by the ignorant remarks and aggressive nature and replied harshly, Arthur to Nouriel: “ I don’t even know why they call you professor. No one is forced to use our site, we dont even market it. I was going to talk about Crypto and the amazing thing happening but Nouriel decided to bash me and my business” According to Neuriel, the amazing things are happening around cryptocurrency is insignificant. People must look forward to the ‘FinTech’ space. Arthur and the crypto-community are putting Nouriel as a ‘no-coiner’. Metlem Demirors, crypto-Analyst at Coinshares included Nouriel in the ‘no-coiner’ list with Peter Schiff who is another ‘no-coiner’ and a harsh critic. Do you think that growth is real as well or crypto is destined to doom? Please share your views with us.  The post Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’ appeared first on Coingape.
CoinGape

Dr. Doom Bashes Bitcoin (BTC) as Monumental “Tangle in Taipei” Debate Nears

Bitcoin Critic Sharpens Axe Ahead of Debate As of the time of writing this, a monumental event in the history of Bitcoin (BTC) is about to take place. Dubbed “The Tangle in Taipei”, a debate slated to take place at 9:00 am on July 3rd at the Asia Blockchain Summit, Arthur Hayes of BitMEX will face off against Nouriel “Dr. Doom” Roubini. The former is expected to convince the career market cynic, the latter, that Bitcoin has value and has staying power in today’s ever-changing financial climate. Today sets a new record for crypto: >$1B open interest on XBTUSD, >$13B traded on XBTUSD, >$16B on all BitMEX products. Yet, @Nouriel still believes that cryptocurrencies are a farce. Watch him face-to-face next week in Taipei vs our CEO, @CryptoHayeshttps://t.co/iYxEydvD33 pic.twitter.com/Zdd2Bwkv5X— BitMEX (@BitMEXdotcom) June 27, 2019 Roubini, however, seems to want none of it. As the debate, which is just around an hour away as of press time, has neared, the markets skeptic has doubled-down on his skepticism of cryptocurrency and Bitcoin. (Just a quick aside, Roubini is known for calling the 2008 Great Recession, which is, ironically, what spawned Bitcoin. The New York Times wrote the following on the economist: “[He foresaw] homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt”.) In a recent tweet, Roubini drew attention to the fact that Bitcoin is down 30% on the week, noting that the asset has slipped under $10,000 just after shooting past $13,800. He added that the cryptocurrency “will get to zero in due time”. Indeed Bitcoin is now down below 10k. Has lost a third of its value in less than a week. Still a long way to less than zero as its true value is negative not zero given its toxic externalities! It will get to zero in due time. https://t.co/Ek87DvRq6t— Nouriel Roubini (@Nouriel) July 2, 2019 The cryptocurrency skeptic, who is also sure that the stock market and the global economy is tipping on the edge of a precipice, went on to accuse the “crypto space” of being rife with nothing but “criminals, con men, carnival barkers, conflicted insiders talking their book 24/7, whales screwing retail suckers, fraudsters, snake oil peddlers, price manipulators.” Roubini adds that there is “100x” the amount of criminality in the cryptocurrency ecosystem that you would find on Wall Street. Indeed the crypto space is full of criminals, con men, carnival barkers, conflicted insiders talking their book 24/7, whales screwing retail suckers, fraudsters, snake oil peddlers, price manipulators. 100X the amount of fraud and criminality that you find in traditional banks https://t.co/XoDrFQ2OOe— Nouriel Roubini (@Nouriel) July 2, 2019 Despite the scathing comments, Hayes is still committed to winning the debate. In fact, the prominent industry executive, who is known for his no-filter, no s**ts given attitude, just held a roaring party in Taipei to celebrate Bitcoin moving past $10,000. Rumor has it that said gathering may still be going on as of the time of me writing it. And on Twitter, Hayes has only confirmed that he is ready to rock Roubini, and will shoot down any points of contention the economist may dare to bring up. Bring it baby, by the time we are finished on stage you will be jonesin’ for an account with us. https://t.co/YVrfNTkLjE— Arthur Hayes (@CryptoHayes) July 1, 2019 Photo by Shelagh Murphy on Unsplash The post Dr. Doom Bashes Bitcoin (BTC) as Monumental “Tangle in Taipei” Debate Nears appeared first on Ethereum World News.
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IOTA is a distributed-ledger protocol powered by the Tangle, a DAG-based data structure. With its feeless transactions and tremendous scalability IOTA seeks to be useful in the age of the Internet of Things

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UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra

The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […] The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
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Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the members at Tether transferred $5 billion ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 15

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Royal Mint In UK Enters Crypto Realm Offering Custodial Services for Temtum (TEM) Cryptocurrency

The Royal Mint in the UK, a 1,100 financial institution tasked with minting coins for the United Kingdom announced their plans to become a cryptocurrency custodian in the coming days. This becomes the first time the financial institution is entering into the cryptocurrency world following previous unsuccessful attempts. The Royal Mint released an official press […]
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