Roubini AKA Dr. Doom vs. BitMEX’s Arthur Hayes Debate Bitcoin
The Asian Blockchain Summit (ABS 2019), the biggest international blockchain event in Asia, commences on July 2 and July 3 in Taipei. The two-day summit during Taipei Blockchain Week will bring about 5000 participants and more than 300 related companies across the world. Roubini AKA Dr. Doom vs. BitMEX CEO Arthur Hayes Debate Values of Crypto (#GotBitcoin?)
ABS 2019 will drive an industrial renovation in Taiwan, making it the leader of the blockchain revolution in East Asia and transforming it into the most advanced “Blockchain Island” of Asia.
More Than An Event: A Symposium That Explores True Values And Delivers Constructive Solutions
BockTEMPO.com and OBITO.IO co-host the summit where some of the most heated debates in the history of the blockchain industry will take place. These detabes will present significant facts, ideas and values of the industry and explore the creative solutions to renovate the industry.
Debates will focus on the seven most advanced areas in the blockchain industry: government regulations, commercial applications, market dynamics, the construction of an industrial ecosystem, financial innovations, technical analysis, and the future of decentralization.
Besides the debates, there are also planned discussions among international government officials. An open opportunity to bounce ideas and solutions off one another, the summit will illuminate the whole blockchain industry in East Asia.
Naokazu Takemoto, the G20 cryptocurrency convener and Japanese House of Representatives, and Jason Hsu, the Taiwanese “crypto legislator” will lead the discussions, covering topics such as governmental issues and industrial policies and regulations.
The two most influential figures in the cryptocurrency industry will participate in ABS 2019. Changpeng Zhao “CZ”, the founder and CEO of Binance, the largest spot trading cryptocurrency exchange in the world, is expected to deliver a speech on the blueprint of the global blockchain industry.
Arthur Hayes, the CEO of BitMEX, the largest leveraged trading cryptocurrency exchange in the world, will further the discussion by sharing his insights on the development of the derivatives market of Bitcoin.
The Debate Between Nouriel Roubini “Dr. Doom”And BitMEX CEO Arthur Hayes
The spotlight of this summit will be the debate between macroeconomist Nouriel Roubini “Dr. Doom” and Arthur Hayes, the CEO and founder of BitMEX.
This high-profile debate of the century will focus on the fundamental value of cryptocurrency – will it change the future of the entire humanity? Or is it just a flash in the pan?
The two speakers have completely different ideologies when it comes to cryptocurrency. Roubini is best known for being outspoken and a perpetual pessimist when it comes to macroeconomy. He once harshly criticized the cryptocurrency scene in a conference – he said that over 81% of cryptocurrency is a fraud, 11% are basically failures, and the remaining 8% lost 90% of their value.
“I believe 99.99% of crypto currencies will inevitably fail – maybe only Bitcoin will last over just a few years,” Boubini said.
On the other hand, Arthur Hayes is positive about the industry. One of the most intrepid entrepreneurs in the blockchain industry, Hayes also worked his way up the conventional banking ladder. He has extensive experience in both traditional banking system and the blockchain industry and his company BitMEX has an average of a billion trading value daily and provides XBTUSD, a product with 100 times leverage.
“The resistance in the market during 2019 will be intense,” Hayes once said. “Nevertheless, Bitcoin will return to 10,000 USD – a very important mental threshold.”
His positivity is proven to be helpful in his own case – in the midnight of July 22, Bitcoin successfully broke the 10,000 USD level.
Roubini and Hayes hold strong and completely opposite opinions and ideologies on cryptocurrency. Their debate will tackle the fundamental topic – whether cryptocurrency is a scam or a game changer. Their thoughts are likely to spark further discussions within the global community.
Taipei Blockchain Week: Starting with a Historical Meetup and Gathering Multiple Influential Companies in the Blockchain industry
Cooperating with ABS 2019, Binance will present a grand opening to start the week. During the one-week Taipei Blockchain week, there will be over 30 conferences, technical project meetups, private investing meetings, and parties.
On July 2nd at 19:00, the grand opening, also called the “Binance Super Meetup” will take place at the center stage of ABS 2019. It is estimated to attract thousands of participants who will engage themselves in the meetup.
Changpeng Zhao “CZ,” the founder and CEO of Binance, will participate in the “Binance Super Meetup.” He will lead seminar discussions attended by senior executives of Binance, representatives of various communities, as well as users of Binance. The meetup will also feature conversations regarding the future of the Binance ecology.
“We are extremely glad to hold our first Binance Super Meetup during ABS. We want to listen closely to our community and at the same time share our thoughts with the participants. Binance will soon be two years old. We never would have reached this point without your support. We sincerely welcome you to attend the seminar and grow together with Binance,” CZ said.
ABS 2019 will take place in Marriot Taipei. The venue includes the parallel session at Asia Hall and Formosa Stage. The summit will be in English, supported by Pwc, EY, Deloitte, KPMG, Antpool, Sparkpool, and Canaan Creative.
We welcome you to Taipei this summer to witness this revolutionary moment!
BlockTempois the most influential blockchain media in Taiwan and has hosted more than hundreds of events from the largest international blockchain summit in Taiwan to weekly meetups. It also runs multiple online communities in which the topics vary from technology, investment to industry pioneers.
BlockTempo has been focusing on filling the information gap and barriers between Taiwan and the world. Through different content including live streaming, real-time report, technology, entrepreneurship, industry, investment trends and in-depth perspectives, BlockTempo is making great attempts to speed up Taiwan’s industrial revolution in the era of blockchain.
Nouriel Roubini Urges BitMEX CEO To Release Crypto Debate Tape
American economist and professional crypto contrarianNouriel Roubinihas furiously demanded the release of a recording of his latest debate withBitMEXCEO and co-founderArthur Hayes.
In one of several fulminating tweetspostedon July 2, Roubini accused the organizers of the Asia Blockchain Summit in Taiwan of being part of a “mafia hush money racket” and cowing to BitMEX’s censorship by choosing to neither tape nor broadcast his debate with Hayes during the event. Onetweetreads:
“Another @CryptoHayesscam: he didnt allow the blockchain conference to record our debate or beam it live. He controls the only recording of it and will only release heavily edited “highlights”. I destroyed @CryptoHayesin the debate and he is hiding. RELEASE THE TAPE YOU COWARD!”
While Roubini’s well-oiledroutineof playing the cryptoantagonistis well-known across the industry, the economist appears to be particularly keen on having this latest squabble — dubbed the “Tangle in Taipei” — in the public eye.
Hayes — seemingly morerelaxedabout the affair —respondedto Roubini by assuring him that any tape release would expose his “thin grasp of economics and technology.”
According to Cointelegraph’s reporter at the scene, the Tangle in Taipei was largely a rehearsal of Roubini’s view that the crypto industry is rife with scammers and that its technology is neither secure, decentralized, nor scalable.
He also reiterated his view of its shortcomings as a payments system, and dubbed the entire space of innovation as a manifestation of “stone age technology, not a digital revolution.”
It remains to be seen whether Hayes’ release of debate highlights will grace ears with another of Roubini’s Taipei soundbites — “there’s nothing smart about smart contracts.”
One conference attendee who says she “endured” Roubini’s debate performance,summarizedit as “the entitled view of a privileged man speaking for the underprivileged.”
As recentlyreported, BitMEX posted record volumes across its operations as bitcoin (BTC) hit $13,000 last month. As the world’s single biggest bitcoin derivatives provider, the platform reported more than $1 billion of open interest on the market, prompting Hayes todeclarethat crypto winter is resolutely over.
Roubini meanwhile providedfresh insightsat the Salt conference in New York this spring, claiming that “cryptois the mother and father of allbubbles.”
Inresponseto the latest fracas over Taipei, one social media commentator picked up on an apparentRoubini tweetof six-year vintage — back when BTC was in the double-digits — quipping “Nouriel, what’s the % gained between $58 & $10,000?”
Bitcoin ‘Maybe Is a Partial Store of Value,’ Concedes Nouriel Roubini
Economist Nouriel Roubini — also known as “Dr. Doom” for his prediction of the 2007–2008 financial crisis and his criticism of cryptocurrencies — has conceded that Bitcoin (BTC) is “a partial store of value.”
Roubini made the concession during a panel alongside high-profile crypto industry figures such as Brock Pierce, Bobby Lee and Tone Vays during the CC Forum 2019 conference in London on Oct. 16.
“Maybe Bitcoin is a partial store of value”
As Tone Vays suggested in a tweet on Oct. 17, Roubini’s admission arguably represents “baby steps” forward in his stance toward cryptocurrencies — notwithstanding the fact that Roubini swiftly followed his comment with several criticisms:
“Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable […] in spite of its rally earlier this year, it’s lost 60% in value since its peak, so I don’t see it going anywhere frankly.”
“I’d take the U.S. dollar over any one of your s***coins,” he told BTCC founder Bobby Lee, arguing that financial innovation, albeit imminent, would instead come from implementations of AI, big data and IoT technologies in the fintech space.
Roubini noted that as an analyst of financial crises, he is “not a defender of the traditional financial system.” He nonetheless forcefully argued that central banks’ responses to 2008 — such as coordinated monetary policy and the Fed assuming the role of “lender of last resort” — had worked and prevented the Great Recession from becoming “a Great Depression 2.0.”
Tokenization a return to the “Stone Age”
Roubini also argued that tokenizing assets, as proposed by some blockchain advocates, would return us to a “Stone Age of bartering” as it would inhibit a measure of the relative price of goods:
“‘Even the Flintstones had a more sophisticated system of value than crypto.”
The economist’s bleak assessment of cryptocurrencies chimed with his starkly pessimistic outlook on the macroeconomic landscape, in which he emphasized the risks of a cold trade war between the U.S. and China spurring a balkanization and de-globalization of the world economy, a possible hard Brexit sparking a eurozone recession, and a potential hike in oil prices due to rising geopolitical tensions in the Middle East.
More broadly, he claimed, we are seeing something of “a populist backlash” against frictionless trade, migration, and even against technology as it becomes increasingly capital intensive and labor saving.
During the panel, Roubini reiterated many of his by now well-known remarks on cryptocurrency — such as that international governments will categorically quash any value transfer system that is truly anonymous, and that decentralization in crypto is a myth.
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