Tuesday, October 10, 2017

Statist Anti-Cash Economist Says Governments Will Crush Bitcoin


Kenneth Rogoff, author of The Curse of Cash, and who wants to see most cash banned, writes in an essay for Project-Syndicate, titled  Crypto-Fool’s Gold?:
[I]t is hard to see what would stop central banks from creating their own digital currencies and using regulation to tilt the playing field until they win. The long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates.
I have no idea where bitcoin’s price will go over the next couple years, but there is no reason to expect virtual currency to avoid a similar fate.

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