Starting a debate by calling nearly everyone in the room "economically illiterate" doesn't usually end well for someone attempting to persuade an audience, but that's just what American economist Nouriel Roubini did on Tuesday, in his debate with Bitcoin.com Executive Chairman Roger Ver. The 40-minute, high-energy volley of arguments and ad homs is as entertaining to watch as it is enlightening.
Roubini argues that cryptocurrencies are not true currencies, claiming "bitcoin or any other shit coin" is "absolutely not" a unit of account or means of payment. He cites the relatively small amount of users worldwide and volatile prices. Ver counters what will become Roubini's mantra throughout the event, that cryptocurrencies have lost most of their value (when looking at peak prices), by producing a ¥10,000 note and detailing the inflation that has already decimated fiat currencies around the globe.