"Dr. Doom" predicted the crash of Bitcoin

Professor of Economics at the Stern School of Business at New York University Nouriel Roubini thinks that Bitcoin is a giantic speculative bubble
09 November 2017   1836

Professor of Economics at the Stern School of Business at New York University Nouriel Roubini called the price growth of bitcoin and other crypto-currency "a giantic speculative bubble." He stated this in an interview with Business Insider.

Roubini is also known as Doctor Doom, as he predicted the financial crisis of 2008. Despite the fact that he regards the technology of the distributed ledger as promising, the scientist sees no fundamental factors for maintaining the current price of bitcoin. Roubini also pointed to the lack of "serious" prerequisites for the storage of capital in bitcoin.

The bitcoin feeds on itself. There are no fundamental reasons for its price to reach such levels. What’s more – it is also used by criminals, for their shady business. I think that more and more countries will start to make cryptocurrency exchanges illegal like China did. New regulations will be adopted. So, this will find its end.  
 

Nouriel "Dr. Doom" Roubini

Professor of Economics, Stern School of Business at New York University

It is worth noting that Roubini is not the first to attack the first crypto currency. Back in 2014, he called bitcoin a "financial pyramid" because of the excessive volatility of the price and the closure of the Mt.Gox stock exchange. 

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   101

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.