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The economist and diehard crypto critic Nouriel Roubini who is also known as “Dr. Doom” and the CEO of the crypto exchange BitMEX Arthur Hayes recently held a debate, which later turned into the massive spat, at the Asia Blockchain Summit this week organized in Taipei.
The interesting thing about the debate is that it didn’t go live online yet, even after it was labeled as “Tangle in Taipei.” In response to Business Insider’s email, Hayes called Roubini a “one-trick pony,” while Roubini called Hayes a “total arrogant jerk.”
Nouriel Roubini, an economics professor at New York University’s Stern School of Business, is known as “Dr. Doom” for his pessimistic predictions in general, and in recent years particularly about cryptocurrencies. He has been a longtime skeptic of Bitcoin and ardent critic of the cryptocurrencies, regularly decrying the absent of appropriate regulations of the crypto industry.
Arthur Hayes, on another hand, is CEO of cryptocurrency exchange and derivatives trading platform BitMEX. He has always been a strong promoter and defender of cryptocurrencies, pushing crypto towards mainstream uses; although, to be fair, he also had his share of crypto criticism.
The pair had a discussion marketed as “Tangle in Taipei” at Asia Blockchain Summit; however, the discussion wasn’t aired, apparently because of the fierce spat between the duo. Fortunately, both of them have shared some insights into that cryptocurrency discussion and their views of one another.
Crypto Feud: The “Arrogant Jerk” Against the “One-Trick Pony”
“The guy is a total idiot who does not know how to debate; he was pathetic, rehashing old, stale arguments that made no sense,” Roubini said in an email. “It was embarrassing to watch him speak. He is a total arrogant jerk.”
He further asserted that he was declared as the clear winner of the debate by the audience. Roubini didn’t stop there. He even attacked Hayes’s crypto exchange BitMEX, claiming it is a ‘total scam’ that runs without following proper regulations and making it easy to partake in illicit activities such as money laundering and identity theft.
“The guy is a thug that is a public danger to thousands of small clueless investors who have lost their shirt because of his scam,” Roubini went on in full steam. BitMEX “should be prosecuted for fraud and banned fully,” he added.
Arthur Hayes, in his turn, also responded an email and defended his company while sharing his adverse views of Roubini.
“Due to a lack of analytical rigor behind his criticisms of Bitcoin, Roubini attempted to focus the debate on the business practices of BitMEX,” Hayes said. “BitMEX provides safe, fast, and liquid ways for those who see the potential of crypto to trade and hedge cryptocurrency vs. fiat risk.”
Hayes went on to relate to Roubini as a “one-trick pony,” referring to Roubini’s prediction of the 2007-2008 financial crisis. Also, Hayes expressed his view on cryptocurrencies and said that digital currencies are a legitimate and revolutionary technology. “deep down [Roubini] knows we’re changing the world and revolutionizing an economy in dire need of innovation,” Hayes finalized.