In what has been dubbed the \u2018Tangle in Taipei\u2019, serial crypto misanthropist Nouriel \u2018Dr Doom\u2019 Roubini faced off with BitMEX boss Arthur Hayes. The crypto sparks started to fly as the language became more colorful between the two adversaries.<\/p>\n
Economist Roubini just can\u2019t stay away from Bitcoin. His repugnant rants on the digital asset have been repeatedly documented, yet he still chooses to attend crypto centric conferences to rage on about what has clearly become his personal demon over the past decade.<\/p>\n
After labeling Binance boss, Changpeng Zhao, a \u2018snake oil salesman<\/a>\u2019 yesterday, Roubini has eyed up Hayes at the Asia Blockchain Summit in Taipei today as he continues to belittle everyone involved in the crypto industry. In an opening statement Roubini said:<\/p>\n \u201cShitty behavior occurs in this industry \u2013 scammers, criminals and so on. Next to me is a gentleman who works with degenerate gamblers and suckers, not accredited investors.\u201d<\/p><\/blockquote>\n The main beef here is clearly the massive leveraging of up to 100x that BitMEX offers to often inexperienced traders. He added that there was no KYC or AML at the exchange and accused it of insider trading. The tirade continued with:<\/p>\n \u201cBitMEX is just an example of everything that is sick and wrong in the industry.\u201d<\/p><\/blockquote>\n Hayes retorted with:<\/p>\n \u201cI don\u2019t even want to call you a professor, you went straight for me. We don\u2019t have any marketing, we don\u2019t seek out any people, they have found an oasis. People saw this phenomenon, real value, and decided they wanted to speculate.\u201d<\/p><\/blockquote>\n The battle raged on with Roubini reiterating the lack of regulation angle with Hayes responding that they are based in the Seychelles and not everyone needs to follow rules set by the US.<\/p>\n Things started to heat up when the topic moved beyond BitMEX and on to Bitcoin and altcoins, a clear red flag to Dr Doom who seemed to lose the plot here with comments like:<\/p>\n \u201cWe have AliPay in China and similar systems in India. We don\u2019t need that cesspool of stinking shitcoins.\u201d<\/p><\/blockquote>\n Hayes replied stating that these systems were very convenient, yes, but they are controlled and monitored by governments and tech monopolies whereas Bitcoin and crypto is private and decentralized. He added;<\/p>\n \u201cWe need to get f****d by the government, before we realize how important this is.\u201d<\/p><\/blockquote>\n The full transcript<\/a> was uploaded by Mike Dudas, founder and CEO of The Block.<\/p>\n The battle did not end there and raged on via Twitter with Dr Doom pulling the crypto mafia card.<\/p>\n Don\u2019t worry our tapes will exposure your thin grasp of economics and technology. After seeing these tapes, I would be surprised if you were allowed into any higher learning institution. https:\/\/t.co\/nTDQIUlaHV<\/a><\/p>\n — Arthur Hayes (@CryptoHayes) July 3, 2019<\/a><\/p><\/blockquote>\nBitMEX Bites Back<\/h2>\n
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