Connect with us

Bitcoin

Bitcoin [BTC] should be dumped; it is time to see the light, says Nouriel Roubini after Satoshi’s profile update

Namrata Shukla

Published

on

Bitcoin [BTC] and other tokens should be dumped; it is time to see the light, says Nouriel Roubini after Satoshi's profile update
Source: Unsplash

Nouriel Roubini, more popularly known as Dr. Doom by crypto enthusiasts for his consistently bearish stance on cryptocurrencies, recently commented on the surprise profile update by Satoshi Nakamoto, Bitcoin’s creator. On the update, which read ‘nour’, Roubini commented that “it is time to see the light and give up on the useless Bitcoin and other Shitcoins”.

The comment by Roubini comes after an update on Satoshi Nakamoto’s previously associated account. The same account was reportedly hacked in 2014. Satoshi was last known to have used his account in 2010, and the current post, which had just one word, “Nour”, has left people searching for more answers. Along with this one word, the account has also added a random person.

However, enthusiasts and twitteratis have gone all out predicting the meaning behind this post by the creator of Bitcoin. While people are suggesting Urdu and Hebrew meaning of the word, David Gerard, an author, connected the word ‘Nour’ to Nouriel Roubini and said:

“Satoshi Nakamoto is warning us that Bitcoin was a mistake and @Nouriel is correct in all his concerns”.

To this comment, Jack Palmer, the creator of Dogecoin, replied saying:

“That profile has been hijacked for many years by way of the email hack.”

Roubini took this opportunity to once again trash the crypto world. He took to Twitter to express his joy over the tweet by Gerard. He posted:

Roubini has previously too taken every opportunity to bash the crypto world and his followers, who share a love-hate relationship with him. He further said on his post:

“If economists of your kind were really competent, then our world would not be in debt and inequalities would be smaller. keep your lessons.”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Bitcoin

Bitcoin’s volatility – an indication of growth or regression?

Biraajmaan Tamuly

Published

on

Bitcoin's volatility indicated to be a key aspect of its current success
Source: Pixabay

Market volatility plays a huge role in the financial ecosystem of assets and cryptocurrencies are regularly linked to its predominant effect. Whenever Bitcoin exhibits a rapid price movement in the market, the majority of the critics tagged the digital currency with extreme volatility and state that it would eventually lead to its downfall, since crypto assets cannot be trusted on a long term basis.

This assumption was recently widely questioned as data showed that over the last few months, the volatility rate had actually decreased for Bitcoin but the community continued to talk against the coin’s development solely on the basis of the crash witnessed by BTC after the bull run of 2017.

Pierre Rochard, a bitcoin enthusiast, recently spoke about the situation and stated, that the volatility might actually be one of the reasons why Bitcoin was starting to find prominent success in the market.

It was suggested that Bitcoin had been accumulating value over the years through various implementations and at specific time frames, short-term traders were causing an effect on the price, which would cause the “incidental price surge”. The price surge would then undergo correction and witness a fall but the price would continue to grow at a progressive rate.

The aforementioned reason can be backed by the fact that Bitcoin had indeed outperformed the likes of commodities like gold in the recent market analysis, and it was released that Bitcoin attained more profit in the long-term returns and risks asset trade in comparison to the S&P 500.

A recent data also exhibited that since 2013, any investment that included 5 percent Bitcoin to 95 percent fiat currency gathered more returns and lesser risk than the S&P 500; which also witnessed losses in 2017.

Twitter user @1Mark Moss indicated that Bitcoin was growing at it’s natural growth rate and stated,

“The volatility is the difference between perception and reality. And the reality is BTC continues to progress, just not as fast as the perception makes it seem sometimes… just part of the natural evolution.”

However, another user @JordiMorris1 explained that the people had more to do with the volatility and anything else. He said,

“The relationship of people towards Bitcoin is volatile. Bitcoin is predictible by nature, its production is stable independently of how crazy people go about Bitcoin. No sense to blame on Bitcoin.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending