Senate Banking Committee Holds Hearing on Crypto – Oct. 11, 2018

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The Senate Banking, Housing and Urban Affairs Committee holds a hearing on “Exploring the Cryptocurrency and Blockchain Ecosystem.”
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LIVE: Senate Banking Committee Holds Hearing on Crypto – Oct. 11, 2018

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47 Comments

  1. Roubini added no value to the discussion; his only aim was to advertise Fintech and the old order and to ride the dead drug dealer, criminal and money laundering horse

  2. So, AliPay is bad because the Chinese government can track all payments, that is why we need Bitcoin; whereas crime is not a problem for Bitcoin because the FBI can track all payments.

    Valkenburg has shamelessly lied about the "oligopoly". It has been known since Satoshi that an entity with 51% of the mning power can PERMANENTLY break the system by PERMANENTLY reversing long-confirmed transactions.

    Valkenburg has also shalessly lied when he presented the LN as a solution to scaling problem. The LN DOES NOT WORK: most payment attempts will fail, and no one knows how to fix that problem.

    And there should be a law: five years in jail, minimum, for any idiot who compares bitcoin to "the early internet".

  3. If Crypto has no value why can I purchased silver and gold online with it? Funny that everything they said bad about Blockchain sounds like banks/insurance/health care system.

  4. Wow, Dr. Roubini knows less about Crypto Currency than myself. I can only guess that he has some sort of underlying agenda?? Most of his statements are not true, but furthermore, his ridiculously negative focus makes me curious.

  5. The conceptof BLOCKCHAIN IS TO GET A LEDGER ON THE INTERNET, Not to make it PRIVAT ha ha … we return to 1960… And Mining are done also in USA and Canada. + 2 Transaction x sec ??? LOL some Crypto can do Thousand of transaction x sec

  6. Screw the banks govs and corporations, that's his only argument is they wont use crypto. Well crypto is for the people not for intermediaries like govs banks or Corporations, crypto is for the people, the people dont need your bullshit anylonger

  7. Roubini spreads a lot of false information and runs with it then he throws more dirt based on his wrong Points. Feels like he might be a paid banking shill.

  8. Yale, MIT, and other universities offer crypto courses, invest in blockchain projects/funds, a whole bunch of big investors in an increasing number do this. Why is Roubini seeing things so different from a lot of smart people. Blockchain is just an Excel sheet?

  9. Roubini is disgustingly closed minded and obviously on the take from the old paradigm he sounds utterly ignorant for such an educated man and the way he parades his disdain for the crypto economy, will only serve to draw in new users wondering why is it that this man is so opposed. BTC is freedom and a warning to the govts of the world to stop printing our wealth out of existence.

  10. Were these guys in the audience all drugged or totally ignorant on the subject as well as our mob friend Roubini? Being polite is one thing but this display of egregious dishonesty was insulting and disgraceful. Why didn't the chamber erupt into spontaneous laughter and derision when Roubini made his opening remarks about crypto' being, "The mother or father of all scams and a bubble that just burst down to zero"? At the time of writing, Bitcoin is still up 46,125% according to Coinbase and I don't think that's the entire history! How high does it need to go to be considered a bull market? He should have been ushered out of the room in a straight jacket and the hearing adjourned until someone sane like Peter Schiff could be found to replace him and at least give his honest opinion even if he's still biased as a gold dealer. If Roubini is such an expert on the boom and bust cycles of the global economy, why is he a professor of economics and not a fund manager or retired Trillionaire? He probably doesn't realize what every school child knows, that compound interest is OBVIOUS FRAUD, (paying interest on interest and not just capital which is what you're actually agreeing to borrow, in other words, you can't borrow interest!). He probably thinks that this criminal system didn't get us into this mess and doesn't even understand the exponential function. You cannot charge compound or any form of interest on debt without inflating money supply – and thus prices via devaluation or dilution of value – exponentially, forever. This isn't rocket science.

  11. He's right about block-chains being glorified data-bases that are expensive and in-efficient.

    Nothing else.

    Proof-of-work mining as a mechanism to resist censorship by banks?

    Arguably the greatest public endeavor in financial innovation in recorded history.

  12. It may be true that Chinese based businesses and citizens have majority of the bitcoin hashing power as of now, but this is not due to there being some kind of inherent line of Bitcoin code that allocates that hashing power to China.

    Mining is a worldwide computational competition, and China just so happens to be in the lead right now when it comes to hashing power.

    The key word is (competition). Other countries around the world could easily invest into mining infrastructure that will even out the playing field.

    Dr Nouriel Roubini speaks as if China will forever be monopolizing all of the bitcoin hashing power, but that's only going to be the case if other countries don't compete in this world wide computational Bitcoin mining competition. ✌️

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