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Roubini said he sees the digital currency as a volatile "pseudo-asset" and argued much of the price movement "is driven not by worries about inflation or debasement of fiat currencies," but rather by "massive manipulation."

The economist said that there are a number of schemes used by digital currency whales to push the price of bitcoin higher. In particular, he highlighted the stable coin tether as an example.

Roubini said tether is "produced out of nowhere with we don't know which kind of backing and every other day there is another billion dollars of it that goes to buying bitcoin."

"We know there are a whole bunch of legal investigations by the DOJ, CFTC, the attorney general's office in New York, they are looking into what's going on," the economist added.

> Roubini said he sees the digital currency as a volatile "pseudo-asset" and argued much of the price movement "is driven not by worries about inflation or debasement of fiat currencies," but rather by "massive manipulation." > The economist said that there are a number of schemes used by digital currency whales to push the price of bitcoin higher. In particular, he highlighted the stable coin tether as an example. > Roubini said tether is "produced out of nowhere with we don't know which kind of backing and every other day there is another billion dollars of it that goes to buying bitcoin." > "We know there are a whole bunch of legal investigations by the DOJ, CFTC, the attorney general's office in New York, they are looking into what's going on," the economist added.

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[–] [deleted] • 1 pt (edited )

It's all good - you have to be able to laugh at yourself. It's not like I haven't invested in the next hottest stock only to ride it to unbelievable heights and then watch it crater. It's an addiction I think.

On the other hand I mined a fair bit of Monero and sold at its peak so there's that.

Thing is, money isn't the answer but our overlords have created a system that convinces us it is and they have thoroughly disrupted our natural compass that points to what's important in life. I have enough money to be comfortable for the rest of my days but I still lay awake at night worrying about my financial future. WTF?

It's a mind fuck and we're all collectively falling for it.

[–] • 0 pt

A mind fuck it is. It's almost as if having financial security causes more worry because if you happen to lose it all for one reason or another, then you truly know what it's like to be broke. Nobody wants that to happen to them.