The view that cryptocurrencies are the biggest scam in the history of finance is insisted upon by the famous economist Nouriel Roubini, who notes that calling cryptos “shitcoins” is potentially an insult to… shitcoins.
The new outburst against cryptocurrencies is prompted by the news that the founder of Celsius Network withdrew $10 million shortly before the bankruptcy of his company, which was active in the crypto lending sector.
“Another crypto scam by a fraudster. I spoke with him once at a cryptocurrency event and he was talking nonsense, like all the other holders of ‘shit’ coins. Crypto is the biggest scam in the history of finance,” he says in a Twitter post.
He adds: “To call cryptocurrencies ‘shitcoins’ is possibly an insult to shit. At least they are valuable as a natural fertilizer, whereas toxic ‘shitcoins’ are useless and pollute the environment. Their real value is not zero. It is negative, given their negative effects.”
Note that Bitcoin, the world’s No.1 cryptocurrency, is currently trading at $20,126, recording losses of at least 50% since the beginning of the year, but also losing 1/3 of its value compared to its all-time high of $60,000.
