Nouriel Roubini: Bitcoin Isn't a Currency, Bitcoin is a Ponzi Game and a Conduit for Criminal/Illegal Activities

Prof Roubini about Bitcoin, A five-Tweet takedown of Bitcoin from the NYU Stern School of Business economist Nouriel Roubini:

Apart from a base 4 criminal activities, Bitcoin is not a currency as it is not a unit of account or a means of payments or store of value

— Nouriel Roubini (@Nouriel) March 9, 2014, Bitcoin is not a unit of account as no price of goods and services is set in Bitcoin unit nor it ever will. So it isn't a currency

— Nouriel Roubini (@Nouriel) March 9, 2014, Bitcoin isn't means of payment as few transactions in Bitcoin. And given its volatility all who accept it convert it right back into $/€/¥

— Nouriel Roubini (@Nouriel) March 9, 2014, Bitcoin isn't a store of value as little wealth is in Bitcoin and no assets in it. Also given price volatility it is a lousy store of value

— Nouriel Roubini (@Nouriel) March 9, 2014, So Bitcoin isn't a currency. It is btw a Ponzi game and a conduit for criminal/illegal activities. And it isn't safe given hacking of it.

— Nouriel Roubini (@Nouriel) March 9, 2014