American economist Nouriel Roubini, an implacable critic of blockchain and cryptocurrencies, known under the nickname “Doctor Doom,” published another provocative statement on his Twitter.
According to his deep conviction, the vaunted decentralization of cryptocurrencies is nothing more than a myth, and the concentration of wealth in the Bitcoin network is comparable only to North Korea.
Decentralization in the cryptocurrency world is a myth. It is a system that is more centralized than North Korea: mining is centralized, exchanges are centralized, developers are centralized dictators (Buterin is a "dictator for life"), and Bitcoin's Gini inequality coefficient is higher than North Korea's.
The Gini index shows the degree of distribution of wealth or income in an economy, which, according to an economist, is the same for the DPRK and the Bitcoin ecosystem.
According to the professor of economics at New York University, 80% of the hashrate of the Bitcoin network is controlled by three large miners (perhaps he meant pools):
All of them are located in such “nice” places as Russia, Belarus and China. You have to trust a bunch of miners in Russia and China, who are our strategic rivals. This is some kind of madness.
Based on his many years of experience in global finance, Dr. Doom is confident that 99% of exchanges are centralized. In his opinion, decentralized exchanges do not exist, and decentralized trading is generally “nonsense.”
Such harsh statements continue the chain of revelations from Doctor Doom. Previously, he sharply criticized smart contracts, refusing to consider them contracts at all, much less “smart”, presenting developers as the only arbiters of the fate of cryptocurrency and dictators.
And during the period of the fall in the price of Ethereum at the beginning of last month, Roubini cited the lack of active decentralized applications as the reason for such a rapid rise, aggressively noting that three quarters of DApps are “fraudulent schemes, Ponzi pyramids and casino games,” and the remaining quarter are “DEXs that no one uses it.”
According to https://twitter.com
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