Rhetorical style should never distract from the content of someone’s arguments. So when I heard that Nouriel Roubini testified to the U.S. Senate Committee on Banking, Housing, and Urban Affairs on the cryptocurrency and blockchain ecosystem, I decided to peruse his testimony and reflect on it.
His testimony makes an extensive number of critical points on the Bitcoin and cryptocurrency ecosystem. In this article, I want to set out a defense of Bitcoin against them. Importantly, I have not attempted to critically assess each and every single point he makes. Instead, I will focus my discussion on those areas of his testimony which I think are most important to defending Bitcoin.