The technology helps power certain aspects of Twitter, Skype, the App Store, Netflix and more. Mashinsky holds more than 35 tech patents dating back to the early days of the internet, covering VOIP protocols, messaging and communication, according to his bio. Roubini called decentralization “bullsh*t,” while Mashinsky called Roubini’s views “irrelevant.” Money is bigger than anything else.”Įarly this month, Mashinsky got into a heated spat on the legitimacy of crypto with Nouriel Roubini, an economist who predicted the 2008 financial crisis. “You’re definitely going to have consolidation, but I’m betting 5-10 years from now, the largest players in the crypto world are going to be bigger than Google or Apple. “There are millions of people who think this is a scam and they can’t understand why people will spend any time in this category,” said Mashinksy, Yahoo! reports. The child of Iranian Jews, he was born in Turkey and grew up in Italy. He teaches at New York Universitys Stern School of Business and is chairman of Roubini Macro Associates LLC, an economic consultancy firm. Mashinsky made the bold declaration at the 2018 Benzinga Global Fintech Awards. Nouriel Roubini (born March 29, 1958) is an American economist. The post Debunked: How Nouriel Roubini Failed to Attack Crypto with Cherrypicked Data appeared first on CCN.The biggest companies in crypto will be worth more than tech giants Google and Amazon in five to 10 years, according to Alex Mashinsky, the CEO of Celsius Network, an Ethereum-based lending platform for the cryptocurrency community.
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It remains unclear why Roubini, who is respected in his field of economics and finance, decided to attack an industry with a series of arguments and claims that can be disproved with sufficient evidence and data that is available to the public. Also, I’m pretty sure there are no criminal laws against pre-mining,” said Buterin.
“I never personally held more than 0.9% of all ETH, and my net worth never came close to $1 billion. The third claim was also easy to disprove because through blockchain explorers, anyone on the network can publicly and transparently verify wallets and transactions. In response, Buterin reaffirmed that he had never held more than 0.9 percent of Ethereum’s supply, instantaneously refuting the claim of Roubini. They stole 75% of the Ether supply and became instant ‘millionaires’ of fake wealth.” “Vitalik Buterin was the ringleader – together with Joe Lubin – of the criminal pre-mining sale/scam that created Ether. One of the best strategies going into this environment is not to fight the Fed. economy, a recession is coming next year, said Celsius Network CEO Alex Mashinsky. Third claim: Buterin stole 75% of Ethereum’s supplyĮarlier this month, Roubini claimed Joseph Lubin and Vitalik Buterin, the two co-creators of Ethereum, stole 75 percent of the supply of ETH, the native cryptocurrency of the Ethereum protocol. Guest(s): Alex Mashinsky CEO, Celsius Network With the Federal Reserve pursuing aggressive tightening and putting a lot of pressure on the U.S.
Hence, the claim that crypto can be printed out of nowhere is false as miners need to cover significant expenses required to maintain a blockchain network. Bitcoin, Ethereum, and many public blockchain protocols utilize a consensus algorithm called Proof of Work (PoW), which requires miners to verify transactions and generate cryptocurrencies with a large amount of energy and hardware costs.Ĭurrently, at the price of $6,500, BTC mining is nearly at a breakeven level, which means miners are generating BTC without any profit by foreseeing an increase in the value of the BTC in the long-term.
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