ICookinBrine Posted October 11, 2018 Share Posted October 11, 2018 (edited) U.S. Senate Banking Committee Hearing live right now: https://www.banking.senate.gov/hearings/exploring-the-cryptocurrency-and-blockchain-ecosystem Dr. Nouriel Roubini, Professor Of Economics And International Business, New York University Stern School of Business Mr. Peter Van Valkenburgh, Director Of Research, Coin Center Opening remarks for each available at link. Edited October 11, 2018 by ICookinBrine Specificity in Title Chris_Reeves, Messier16 and Liagala 1 2 Link to comment Share on other sites More sharing options...
Chris_Reeves Posted October 11, 2018 Share Posted October 11, 2018 Currently, Dr. Roubini is bashing blockchain. Peter Valkenburgh is speaking well to the regulatory discomforts. ICookinBrine and Messier16 2 Link to comment Share on other sites More sharing options...
Chris_Reeves Posted October 11, 2018 Share Posted October 11, 2018 Dr. Roubini calls Bitcoin centralized due to China mining group. Disagrees with permissionless blockchain POW solutions like Bitcoin, Litecoin. He believes in permissioned systems. JBW 1 Link to comment Share on other sites More sharing options...
Chris_Reeves Posted October 11, 2018 Share Posted October 11, 2018 (edited) No mention of Ripple yet. Edited October 11, 2018 by Chris_Reeves Link to comment Share on other sites More sharing options...
ICookinBrine Posted October 11, 2018 Author Share Posted October 11, 2018 10 minutes ago, Chris_Reeves said: Currently, Dr. Roubini is bashing blockchain. Peter Valkenburgh is speaking well to the regulatory discomforts. A lot of scaremongering from Dr. Roubini. It's interesting that his central critique is something the XRP ledger solves to some degree though -- a trust-based system. Link to comment Share on other sites More sharing options...
Guest Posted October 11, 2018 Share Posted October 11, 2018 6 minutes ago, Chris_Reeves said: Dr. Roubini calls Bitcoin centralized due to China mining group. Disagrees with permissionless blockchain POW solutions like Bitcoin, Litecoin. He believes in permissioned systems. And then calls XRP a useless coin https://www.banking.senate.gov/imo/media/doc/Roubini Testimony 10-11-18.pdf Link to comment Share on other sites More sharing options...
Chris_Reeves Posted October 11, 2018 Share Posted October 11, 2018 4 minutes ago, icebreath said: And then calls XRP a useless coin https://www.banking.senate.gov/imo/media/doc/Roubini Testimony 10-11-18.pdf Ah I'm speaking about the live conversation but yes. He doesn't believe in blockchain or cyrptocurrencies at all. He'll be proven wrong, of course. JBW 1 Link to comment Share on other sites More sharing options...
Chris_Reeves Posted October 11, 2018 Share Posted October 11, 2018 55 minutes ago, ICookinBrine said: A lot of scaremongering from Dr. Roubini. It's interesting that his central critique is something the XRP ledger solves to some degree though -- a trust-based system. His main focus is around the inadequacies of PoW coins so XRP isn't even a part of that ecosystem. ICookinBrine and Messier16 2 Link to comment Share on other sites More sharing options...
HenrySeldom Posted October 11, 2018 Share Posted October 11, 2018 (edited) 1 hour ago, Chris_Reeves said: Dr. Roubini calls Bitcoin centralized due to China mining group. Disagrees with permissionless blockchain POW solutions like Bitcoin, Litecoin. He believes in permissioned systems. His line about how no US businesses or government entities are going to rely on miners in China and Russia to verify transactions strikes me as the plain truth. It certainly sounds to me like Roubini is implicitly saying solutions like XRP are inherently superior to Bitcoin. Edited October 11, 2018 by HenrySeldom Link to comment Share on other sites More sharing options...
HenrySeldom Posted October 11, 2018 Share Posted October 11, 2018 (edited) 1 hour ago, ICookinBrine said: A lot of scaremongering from Dr. Roubini. It's interesting that his central critique is something the XRP ledger solves to some degree though -- a trust-based system. It's only scaremongering if you don't understand the profound differences between BTC and XRP. His critique of the BTC blockchain strikes me as unimpeachable. Edited October 11, 2018 by HenrySeldom Link to comment Share on other sites More sharing options...
ICookinBrine Posted October 11, 2018 Author Share Posted October 11, 2018 18 minutes ago, Chris_Reeves said: His main focus is around the inadequacies of PoW coins so XRP isn't even a part of that ecosystem. Well said. Many of Roubini's criticisms do not apply to the XRP ledger, which has some component of trust built in as part of Unique Node Lists ("They are the lists of transaction validators a given participant believes will not conspire to defraud them. ... Since anybody can run a validator, the burden is on the network participants to choose a reliable set." https://ripple.com/technical-faq-xrp-ledger/) As for the balance of Roubini's criticisms, I thought Van Valkenburgh did a good job dispelling the idea that virtual currencies pose unique or unprecedented criminal concerns. Link to comment Share on other sites More sharing options...
Blubber Posted October 11, 2018 Share Posted October 11, 2018 Roubini is a bought-and-paid-for shill who is regularly trotted out by big money scared of the blockchain revolution. His remarks on BTC are spot on, though. Even a broken clock is right twice a day. SWIFT has already left Ripple in the dust? And how exactly is that? GiddyUp and ImBroke 2 Link to comment Share on other sites More sharing options...
GrayFox Posted October 11, 2018 Share Posted October 11, 2018 Nouriel Roubini is a short sighted moron. So cryptos have lost over 80% of their value since January and therefore, they are a bubble. Amazon in 1999 lost over 90% of its stock value and it took several years until 2007 before they could claw back to anywhere close to their All time high. I wonder if Roubini considers Amazon a scam or would he have considered it a Scam back then. A stock that lost so much and moved sideways for nearly 8 years and now the company is valued at over a trillion. I wonder what his opinion is or was at the time. https://www.google.co.uk/search?rlz=1C1CHBD_en-GBGB724GB724&ei=tpC_W7ucLNCCgQbs9Y2wDA&q=amazon+stock+historical&oq=amazon+stock+historical&gs_l=psy-ab.3..0l4j0i22i30k1l4.20678.24949.0.25140.22.17.1.3.3.0.205.1660.3j9j1.13.0....0...1c.1.64.psy-ab..5.17.1692...35i39k1j0i131k1j0i131i20i263k1j0i20i263k1j33i160k1j0i10k1.0.eq2gI6Khg7Q Link to comment Share on other sites More sharing options...
ICookinBrine Posted October 11, 2018 Author Share Posted October 11, 2018 Ripple today published one of its Insights articles titled "Crypto Regulation Around the World." It covers the information previously gleaned from the Swell panel on the regulatory environment: https://ripple.com/insights/crypto-regulation-around-the-world/ Its timing and title underscore a point raised by Van Valkenburgh--the U.S. can be a global leader and foster this tech as was the case with the Internet, but it could get left in the dust if it takes action in a manner that stifles innovation. Feel free to repost if anyone thinks this deserves a separate thread--I think this section has a lot of untapped value, but I'm sick of spamming it. GiddyUp 1 Link to comment Share on other sites More sharing options...
GiddyUp Posted October 11, 2018 Share Posted October 11, 2018 4 hours ago, Blubber said: Roubini is a bought-and-paid-for shill who is regularly trotted out by big money scared of the blockchain revolution. His remarks on BTC are spot on, though. Even a broken clock is right twice a day. Doctor Doom, always drowning in a glass half-full Link to comment Share on other sites More sharing options...
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