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 regulations. Professor Kenneth S. Rogoff believes that the risk of financial anonymity will eventually create an environment where regulation would smash Bitcoin. He said:

"Small anonymous transactions with virtual coins ... would be attractive, but large-scale anonymous payments would make it extremely difficult to collect taxes or fight against criminal activity."

The perspective is mutual, though that is in a different viewpoint from Jeffrey A. Miron, whose libertarian approach makes him more supportive. However, he believes that central governments will end the existence of technology. He said:

"[The government] could let the criptomoedas exist peacefully and not accept them as payment. This is what I think should happen. But I think, sooner or later, governments will ban the crypto-coins from the face of the earth. "

The potential of government regulation is certainly real, as several nations have limited access to information on Bitcoin's operations and other crypto-coins. China admittedly banned ICOs and restricted access to Bitcoin's operations.

Anonymity?
It must also be remembered, of course, that Bitcoin is by no means anonymous. Bitcoin users make mistakes that weaken or eliminate Bitcoin's anonymity. As the Cointelegraph previously reported, the IRS hired Chainline's services for Blockchain's analysis and thus help them cheat in taxes so as not to accuse their profits in Bitcoin.