American economist Nouriel Roubini, better known as "Dr. Doom," said that the cryptocurrency is more centralized than North Korea.
In his Twitter account, Roubini called cryptocurrency decentralization a myth and provocatively compared the cryptosphere with North Korea:
Decentralization in crypto is a myth. It is a system more centralized than North Korea: miners are centralized, exchanges are centralized, developers are centralized dictators (Buterin is "dictator for life" ) & the Gini inequality coefficient of bitcoin is worse than North Korea
— Nouriel Roubini (@Nouriel) October 8, 2018
In economics, the Gini coefficient is often used to estimate economic inequalities in a particular country or region. Roubini argues in another tweet that the Bitcoin inequality ratio is the worst in the world:
Decentralization is a myth: miners, exchanges, developers are centralized (Buterin is "dictator for life" ) & the inequality coefficient of BTC is worse than North Korea that has the worst inequality on earth. Crypto beats Kim Un Jung in regards to centralization & inequality
— Nouriel Roubini (@Nouriel) October 8, 2018
In May of this year, Roubini called the BTC a “gigantic speculative bubble” that “feeds on itself”. Back in November 2017, he predicted that Bitcoin would “find its end” since more and more countries are aiming at stricter regulation of cryptocurrency.
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