Roubini, Taleb say CoinGeek conference data is important, not tokens

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Economist Nouriel Roubini and former risk analyst Nassim Taleb took aim at crypto at the CoinGeek conference this week, while the always controversial Craig Wright bragged that the BSV blockchain is on its way to reaching billions of dollars. transactions per second.

Taleb, best-selling economics author Black Swan and Skin in the game, was a controversial addition to the lineup for the CoinGeek conference in Zurich and has been criticized on social media for giving BSV legitimacy.

Roubini, meanwhile, offered a “bestselling” version of his attacks on crypto, familiar from crypto conferences before the pandemic.

“There is no reliability, no regulation, no LMA, no KYC. [Crypto] is used by terrorists, money launderers, human traffickers, criminals, tax evaders.

Roubini argued that crypto tokens – which presumably include BSV – are unnecessary and should be isolated from the value of decentralized data verification enabled by blockchain technology.

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“Data is very valuable, it’s new oil,” he explained, lamenting that “99%” of the fintech app “has nothing to do with cryptocurrencies.” What is needed, explained Roubini, is a “reliable service, which stores the data, tells who it belongs to and who pays for it”.

Taleb followed Roubini to the panel, agreeing that cryptocurrency-enabled data utilities should be understood as a phenomenon separate from crypto tokens issued by many blockchain projects. He shared his belief that those who need crypto and those who can use it are not aligned, adding:

“Who needs crypto? Well, criminals need crypto except it doesn’t work for them.

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The host attempted to get the panel back on track by asking Taleb if he agreed that “BTC does not represent what the Bitcoin white paper describes.”

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In response, Taleb admitted that he thought Bitcoin in its current form didn’t look like the white paper, but countered that “the currency in the white paper may not be what we are looking for.”

NChain chief scientist Craig Wright spoke about BSV, saying it was “never meant to be a currency, it’s digital money” and went on to say:

“We’ll have a billion transactions per second in a few years, then we’ll be doing a trillion per second.”

As you might expect, Bitcoiners who logged on hated watching the show, including YouTuber “BTC Sessions” who sharing that they only “jumped on the stream for a second just to give it a thumbs down.”

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Wright’s chief critic Arther van Pelt also logged in to throw stones and tweeted that the panel received very few viewers, calling it a “clown show.”