RATE Group | Ethereum [ETH] has nothing to show except CryptoKitties and Ponzi schemes, says Dr. Doom
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Ethereum [ETH] has nothing to show except CryptoKitties and Ponzi schemes, says Dr. Doom

16 Oct Ethereum [ETH] has nothing to show except CryptoKitties and Ponzi schemes, says Dr. Doom

Posted at 00:25h in Ethereum News by

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Harvard alumni and NYU professor, Nouriel Roubini, recently gave his views on Ethereum [ETH], calling it a scam due to the technology behind it. He also spoke about the failure of DAO, and the state of dApps on the Ethereum blockchain.

He began by calling smart contract “buggy” stating that they aren’t “real contracts”. Moreover, he quoted the statistic of smart contracts having more than 10% of its code as bugs. He also spoke about dApps, stating that 75% of them were apps such as CryptoKitties. He went on to state:

“You know, there’s a lot of people [who] talk about their DApps or their distributed apps. 75 percent of those apps are what? CryptoKitties, Ponzi schemes and other pyramid schemes, and other casino games, like Las Vegas. So, after a decade, what does Ethereum have to show us? CryptoKitties and Ponzi schemes? And that’s what they’re doing? They’re not doing anything that is of any use to anybody.”

Roubini spoke about the…

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