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Someone’s Confusing Bitcoins and Sh*tcoins, But Is It Roubini Or The New York Post?

Emilio Janus | May 09, 2019 | 17:00

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It isn’t often that we witness a greater inherent bias against Bitcoin than that of Nouriel Roubini. But The New York Post yesterday published a headline claiming Roubini called bitcoins ‘sh*tcoins’ at a conference discussion. Spoiler alert: He did not.

New York Post Even More Clueless Than Roubini

Roubini, as he is most famous for, was appearing in a panel discussion at the SALT conference in Las Vegas. The discussion, entitled ‘Crypto Winter: Ice Age or Great Thaw, also featuring Ethereum co-founder, Joseph Lubin, and noted bitcoin bull Mike Novogratz, was chaired by Goldman Sachs MD, Rana Yared.

The discussion had barely even begun (Novogratz had just introduced his position on Bitcoin) when Roubini mentioned s**tcoins. This caused a ripple of laughter in the audience, following which Roubini explained himself.

It also caused the New York Post to claim Roubini had ‘highlighted a scatological nickname to describe Bitcoin’.

Bitcoin, The Other Top Ten, and Thousands of Shitcoins

Lets have a look at what Roubini actually said:

Even with the rising price this year, bitcoin is down 70% from the peak; the other top ten down 80%; thousands of s**tcoins have gone down 95 to 99%.

Seems like even Roubini has finally grasped the difference between bitcoin and s**tcoins; the New York Post, not so much.

It even correctly reported Roubini’s post-laughter-ripple continuation, which confirmed that he was not referring to Bitcoin.

“There are 500,000 items on Google if you search ‘s- -tcoins,’ ” Roubini told the crowd at the SALT conference here. “It’s a technical term.”

Yep, and it isn’t what the New York Post thinks. Still, when you’re on a roll…

The article went on to highlight previous Roubini crypto-slurs, and noted that “Given the precipitous decline in the market… Roubini appears to have hit on a popular theme.”

But Roubini Must Have Said Something Bad

Not an awful lot, and certainly nothing new. Lubin even pointed out that most of Roubini’s arguments were based on old data.

There was an unaccepted challenge from Novogratz, who suggested Nouriel wear a Bitcoin t-shirt if price passed $6000 by Christmas. Although, it’s a bit late for that now – perhaps Novogratz should have been a bit more ambitious?

For his part, Novogratz offered to wear a “Nouriel was right” t-shirt if bitcoin didn’t break that mark… which is all a bit moot now anyway.

Last month, you may recall, Lubin’s Ethereum partner, Vitalik Buterin, faced the same head-to-head at Deconomy in Seoul. If Roubini has nothing new to say, then at least he is getting flown around the world to repeatedly restate the old FUD.

Who knows less about Bitcoin Roubini or the New York Post? Share your thoughts below!

Images via Shutterstock