Harvard Professors Predict Bitcoin Collapse Due to Government Regulation

According to some Harvard economics professors, Bitcoin will eventually be destroyed through the weight of government regulation. Professor Kenneth S. Rogoff believes that the risk of financial anonymity will eventually create an environment where regulation would crush Bitcoin. He said:

“Small anonymous transactions with virtual currencies…would be desirable but large-scale anonymous payments would make it extremely difficult to collect taxes or counter criminal activity.”

The perspective is shared, though in a different vein, by the counterpart, Jeffrey A. Miron, whose Libertarian perspective makes him more lassez-faire. Nevertheless, he believes that central governments will eventually drive the technology out of existence. He said:

“It [government] could let cryptocurrencies peacefully exist, and not accept them as a means of payment, and that’s what I think it should do. But my guess is that sooner or later governments are going to regulate cryptocurrencies out of existence.”

[…]

Read Full: Harvard Professors Predict Bitcoin Collapse Due to Government Regulation