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

Economist Nouriel Roubini and former risk analyst Nassim Taleb took aim at cryptocurrencies at this week’s CoinGeek conference, while the ever-controversial Craig Wright boasted that the BSV blockchain was on track to reach billions of transactions per second.

Taleb, Author of Best-Selling Economic Books Black Swan Y Skin in the game, was a controversial addition to the schedule for the CoinGeek Conference in Zurich and was criticized on social media for giving BSV legitimacy.

Meanwhile, Roubini delivered a “greatest hits” version of his attacks on crypto, familiar from pre-pandemic crypto conferences.

“There is no reliability, no regulation, no AML, no KYC. [Crypto] it 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 insulated from the value of decentralized data verification enabled by blockchain technology.

“The data is very valuable, it is the new oil,” he explained, lamenting that the “99%” of the fintech application “has nothing to do with cryptocurrencies.” What is needed, Roubini explained, is a service that is “reliable, that stores the data, says who owns it and who pays for it.”

Taleb followed Roubini on the panel and agreed that cryptocurrency-enabled data utilities should be understood as a separate phenomenon from cryptographic 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 cryptocurrencies? Well, criminals need crypto, except it doesn’t work for them. “

Related: Bitcoin’s usefulness is on another level, depending on where you live

The host tried to get the panel back on track and asked Taleb if he agreed that “BTC does not represent what the Bitcoin whitepaper describes.”

In response, Taleb admitted that he believes that Bitcoin in its current form does not look like the whitepaper, but replied that “the currency in the whitepaper may not be what we are looking for.”

NChain Chief Scientist Craig Wright spoke about BSV, stating that “it was never designed to be a currency, it is digital cash” and went on to make the claim:

“We will have a billion transactions per second in a few years, and then we will do a trillion per second.”

Unsurprisingly, the Bitcoiners who tuned in hated watching the broadcast, including YouTuber “BTC Sessions” who shared that they just “got into the stream for a second just to give it a thumbs down.”

Wright’s lead critic, Arther van Pelt, also tuned in to throw stones and tweeted that the panel was receiving very little audience, calling it a “clown show.”