Home News Bitcoin US Economist Nouriel Roubini, Crypto Trader Tone Vays Butt Heads over Bitcoin

US Economist Nouriel Roubini, Crypto Trader Tone Vays Butt Heads over Bitcoin

November 21, 2018 13:57
Source: Bitcoin News
Share with your friends

With Bitcoin plummeting rapidly, there is bound to be tempers running high and there will be Bitcoin skeptics like Nouriel Roubini gloating about how they were right all along. In the latest Twitter feud, Roubini is up against cryptocurrency believer, Tone Vays.

It all started when Roubini who is an eminent economist in the United States of America. He tweeted saying, “I could gloat about Bitcoin collapsing 10% in a day to $5700. But that is still some way to ZERO where Bitcoin belongs. Actually since Bitcoin is The Mother of All Toxic Pollutions & Environmental Disasters its true fair value is highly NEGATIVE with the right externality tax.”


However, this is not the first time, Roubini has spoken up against bitcoin and other cryptocurrencies. In October, at a Senate hearing on cryptocurrencies, the economist had said, “It is clear by now that Bitcoin and other cryptocurrencies represent the mother of all bubbles, which explains why literally every human being I met between Thanksgiving and Christmas of 2017 asked me first if they should buy them. Especially folks with zero financial literacy – individuals who could not tell the difference between stocks and bonds – went into a literal manic frenzy of Bitcoin and Crypto buying.”

However, Twitter, unlike Senate does not have a moderator and there were quite a few people who were not convinced by his arguments. Roubini started off a beef with Vays by retweeting the latter’s predictions which were made back in May this year in which he had asked his followers to HODL.

However, Vays is not the one to back down. He posted a fresh chart of price predictions in which he mentioned that Bitcoin might hit zero and still asked his followers to HODL.

UPDATE: Now that $4,975 has hit, latest $BTCUSD Price Outlook %:
35% – Falls Under $2K as eventual low
20% – The low will be in the $2-3K range
15% – The low will be in the $3-4K range
10% – The low is NOT yet in, but we stay above $4K
20% – #Bitcoin has Bottomed!
Plan: #HODL

An irate Roubini then said, “How can you recommend to HODL since u assign a 35% prob to below 2K, a 55% to below 3K, a 70% prob to below 4K? Your HODLers should lose 80% to 90-95% from peak after they already lost 75%? Given your probabilities anyone who isn’t a total masochist will dump all its BTC now!”

Not one to back down, Vays calmly responded stating, “Same reason I HODLED my apartment during the housing crisis. For me #Bitcoin is NOT a stock, it is something tangible (yes we disagree). For those that only see $BTC as tradable asset to make more $, they might have a different plan. Too much Risk for ME to Exit short/mid term.”

Following Roubini, one can say that this is not the last of him as he will continue to spew venom against bitcoin and cryptocurrencies. But the best thing to do in this moment of uncertainty is to wait for the bulls to return.

Liked what you read? Join us on Telegram


Please enter your comment!
Please enter your name here