Bitcoin is hailed as the world’s first censorship-resistant currency. However, it is apparently possible to censor criticisms of BTC which don’t fit with official narratives. New York University economist Nouriel Roubini is currently experiencing such censorship first hand. At a Taiwan cryptocurrency summit on Tuesday, a Nouriel Roubini Bitcoin crash warning was unceremoniously removed from event video coverage.
Nouriel Roubini’s Bitcoin Crash Warning Too Hot for YouTube
Nouriel Roubini is an unashamed mainstream economics ‘Dr. Doom.’ As well as critiquing Bitcoin, Roubini is famous for making gloomy predictions concerning the global economy. Recently, Roubini argued that ongoing U.S. and China trade tensions risk plunging the world into a new recession.
Of course, Bitcoin bag holders aren’t hostile to the idea of a looming global financial crisis. Many buy Bitcoin in anticipation of an inevitable 2008 Credit Crunch Part Deux. This makes a BitMex media blackout on Nouriel Roubini odd, to say the least.
What Did Roubini Say Will Happen to Bitcoin?
According to Nouriel Roubini, Bitcoin is overhyped. Sadly, it is not possible to extrapolate on why.
Roubini presented his argument against Bitcoin in a debate with Bitmex CEO Arthur Hayes. Hayes, though, doesn’t want to release the video. (Even though Hayes believes he wiped the floor with “no-coiner” Roubini.)
Why is Bitmex Running Scared from Roubini?
Bitmex is the world’s largest trading platform for Bitcoin and several other cryptocurrencies. Bitcoin going down would, therefore, be very bad for Bitmex.
Of course, Arthur Hayes has downplayed censoring Nouriel Roubini, as necessary due to Roubini being just another Bitcoin hater. However, Roubini isn’t the only person starting to call out Bitcoin as a bad investment in 2019.
Bitcoin/Tether Controversies Show No Sign of Abating
As we detailed recently, strong evidence suggests that current Bitcoin price rallies aren’t a result of organic investor interest. Every 2019 cryptocurrency market recovery has been preceded by Tether printing new USTD tokens. (Over 1 billion new USDT tokens have entered circulation since the start of 2019.)
To find out why Tether printing is controversial, click here.
Has Bitmex, Tether, and Bitfinex Turned Bitcoin into a Ponzi Scheme?
According to Kraken CEO Jesse Powell, Tether printing has nothing to do with recent Bitcoin price rises. However, many regular BTC users aren’t buying it.
Some are, therefore, arguing that Bitcoin has become nothing more than a lucrative exit scam for Bitcoin whales and exchanges. They pump prices by buying Tether. Retail investors rush in. Then whales pull out, leaving retail investors with considerable losses.
Of course, we don’t know if the Nouriel Roubini Bitcoin crash warning censored by Bitmex had anything to do with Tether. At the very least, though, new to market investors should think very carefully before buying Bitcoin in 2019.
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