Tangle in Taipei: Hayes calm & considerate, Roubini emotional & hyperbolic

03 Jul, 2019
by Fifi Arisandi
Tangle in Taipei: Hayes calm & considerate, Roubini emotional & hyperbolic

BitMEX CEO Arthur Hayes is going on a live debate with crypto opponent Nouriel Roubini on the Asia Blockchain Summit's stage to exchange opinions about many topics related to crypto.

The day for the highly-anticipated debate in the Asia Blockchain Summit 2019 is finally here. Dubbed the Tangle in Taipei, BitMEX CEO, Arthur Hayes is having a head-to-head debate with huge crypto opponent, Nouriel Roubini on stage.

According to some crypto enthusiasts who happen to attend the event, both are all-out in “defending” their sides. However, Hayes appears to be calmer, more considerate and analytical than the NYU Stern School of Business professor, who’s said to be emotional, hyperbolic and repetitive.

The debate covers popular topics around cryptocurrency, such as KYC, payment systems, regulations as well as the dangers and potential of crypto.

It started with the topic about crypto exchange, in this case, BitMEX of course. Roubini said, “Bitmex is for chronic gamblers that are looking to get REKT, a manipulated platform which enriches itself by liquidating its customers. Bitmex is an unregulated platform, looking to get their users rekt while escaping from regulations. A highly speculative product such as Bitcoin perpetuals should only be accessible to accredited investors.”

The opinion was countered by Hayes, “Bitmex is one of the few choices as a platform for users to utilise derivatives with your Bitcoin, preserving financial sovereignity at an individual level. People love to speculate, we’re trying to give them an opportunity to do it in a safe manner.”

Roubini then commended platforms like WeChat and Alipay, which he claimed as “the actual innovation”, whereas Bitcoin is not scalable and has no usage.

Hayes answered, “If you value privacy, such platforms like Alipay or Wechat are nonsense. At this point, users are willing to pay for financial privacy, hence migrating to Crypto.”

Roubini went on harassing crypto as he said, “Crypto and all these “sh*tcoins” are the biggest fallacy of this era. Banking the unbanked with the masked purpose of taking their money is a reality. No decentralisation, no financial security, no scarcity, no privacy. All are nothing but talks from a bunch of retail suckers chronically sick, investing in shitcoins. Price manipulation, fake transactions, Tether being printed and a bunch of whales guiding the market are the reason of this imaginary bull run which took us to 14k $BTC. No google search increase, no nothing.”

Hayes’ answer to the statement showed himself as a die-hard crypto lover, “Just because of calling some markets “regulated” doesn’t mean they’re not manipulated. Crypto is potentially the only authentic and free market left. Just because manipulators put themselves tags like “regulators”, “banks”, or “govt. officials” isn’t different.”

On the emerging markets topic, Hayes brought up Facebook crypto project as he said, “The Facebook/Libra thing is interesting because billions of people will now have the opportunity to experience crypto.”

Roubini, surprisingly, seems to be “affirmative” to Libra as he doesn’t consider it as a cryptocurrency nor blockchain, “Libra is: centralised, permissioned, not a cryptocurrency, not a blockchain, scalable and potentially the best we’ve seen compared to all these scams in crypto.”

Answering the ultimate question “Where will crypto be in 5 years?”, Hayes answered without doubt, “Bitcoin will be a trillion-dollar asset class.”

While Roubini said, “Bitcoin is an asset class that’s going asymptotically to zero.”

Interesting comments come from crypto educator, Boxmining, who refers to Roubini as a "tv personality" with "very well defined character and believable acting".

Stick with Chepicap for more updates from the crypto space. 

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