Article: https://www.coindesk.com/ex-imf-economist-kenneth-rogoff-joins-bitcoin-will-collapse-chorus/
Kenneth Rogoff, Chief Economist of the IMF from 2001-2003 joined the ranks of CEO Jamie Dimon in predicting that the price of bitcoin is merely a bubble and will inevitably collapse. Rogoff, though somewhat amazed by the underlying tech of bitcoin, still thinks that due to government pressure, bitcoin would not be allowed to flourish significantly due to it being a suitable vehicle to carry out illicit activities compared to carrying briefcases full of cash.
Rogoff also stated his disapproval of the current moves of Japan regarding its cryptocurrency laws.
What Dimon and Rogoff were stating is true: bitcoin is inviting tax evaders and money launderers due to its decentralized and pseudo-anonymous transactions. AML and KYC regulations should be present and followed by all exchanges, and it could be a way to prevent illicit activities from happening, but not preventing it completely. This may be the reason why China and the US are still stubborn about talks regarding bitcoin.
What do you think about Rogoff's statements? Is he making a good point or is he only making things look good for the USD?
Topic: Kenneth Rogoff, former IMF economist says "Bitcoin price will collapse" - page 3. (Read 951 times)
October 13, 2017, 11:04:20 PM
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