{"id":108060,"date":"2020-11-09T13:13:16","date_gmt":"2020-11-09T10:13:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cbdc-revolution-is-coming-in-3-years-says-bitcoin-naysayer-roubini\/"},"modified":"2020-11-09T13:13:16","modified_gmt":"2020-11-09T10:13:16","slug":"cbdc-revolution-is-coming-in-3-years-says-bitcoin-naysayer-roubini","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cbdc-revolution-is-coming-in-3-years-says-bitcoin-naysayer-roubini\/","title":{"rendered":"# CBDC revolution is coming in 3 years, says Bitcoin naysayer Roubini"},"content":{"rendered":"<p>&#8220;<strong># CBDC revolution is coming in 3 years, says Bitcoin naysayer Roubini  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTEvZDg4NTEyMzItYjViZC00NzkyLThhYzAtNGVmNjc1YWJlOTc5LmpwZw==.jpg\" \/><\/p>\n<div data-v-5a136f3a=\"\">Nouriel Roubini, an award-winning economist and\u00a0known skeptic of Bitcoin (BTC), is confident that central bank digital currencies, or CBDCs, are the future of money.<\/p>\n<p>According to Roubini, global CBDCs like the digital yuan are capable of replacing major financial services and cryptocurrencies in the near future. \u201cThey&#8217;re gonna be crowding out digital payment systems, or in the private sector, starting with cryptocurrencies that are not really currencies,\u201d the economist said in a Nov. 7 <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/video\/not-scaleable-not-secure-not-220948739.html\">interview<\/a> with Yahoo Finance.<\/p>\n<p>Roubini predicted that a CBDC-powered \u201crevolution\u201d is coming in as soon as in three years:<\/p>\n<blockquote><p>\u201cSo not only you don&#8217;t need crypto, you don&#8217;t even need Venmo. You don&#8217;t even need a bank account. You don&#8217;t even need the check. And the big revolution we&#8217;re gonna see in the next three years is gonna be central bank digital currencies.\u201d<\/p><\/blockquote>\n<p>Furthermore, the world-known economist is confident that cryptocurrency itself is a \u201cmisnomer,\u201d because a currency needs to provide a unit of account. \u201cNothing is priced in Bitcoin or any other cryptocurrency,\u201d Roubini argued, claiming that crypto does not provide either a \u201csingle numerator,\u201d or a \u201cscalable means of payment.\u201d<\/p>\n<p>However, Roubini did admit that Bitcoin could serve as a store of value, which is a major function of money alongside a unit of account and a medium of exchange:<\/p>\n<blockquote><p>\u201cIt&#8217;s maybe a partial store of value, because, unlike thousands of other what I call shitcoins, it cannot be so easily debased because there is at least an algorithm that decides how much the supply of Bitcoin raises over time, because for most of those other ones, literally, is done ad hoc, and they&#8217;re being debased faster than what the Fed is doing.\u201d<\/p><\/blockquote>\n<p>Roubini has also criticized decentralized finance, one of the\u00a0major trends in the crypto market in 2020. \u201cDeFi was vaporware from its onset,\u201d the economist argued in late September 2020, adding that the industry is \u201ctotally faltering as blockchain was always the most over-hyped <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> in human history.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/cbdc-revolution-is-coming-in-3-years-says-bitcoin-naysayer-roubini\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# CBDC revolution is coming in 3 years, says Bitcoin naysayer Roubini &#8221; Nouriel Roubini, an award-winning economist and\u00a0known skeptic of Bitcoin (BTC), is confident that central bank digital currencies, or CBDCs, are the future of money. According to Roubini, global CBDCs like the digital yuan are capable of replacing major financial services and cryptocurrencies&#8230;<\/p>\n","protected":false},"author":1,"featured_media":108061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/d8851232-b5bd-4792-8ac0-4ef675abe979.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75046,75022,74863,74868,75159,79281,4965],"class_list":["post-108060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cbdc","tag-central-bank","tag-cryptocurrencies","tag-defi","tag-digital-currency","tag-nouriel-roubini","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/108060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=108060"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/108060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/108061"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=108060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=108060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=108060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}