Rogoff also offered his disapproval for Japan's recognition
of bitcoin as a legal method of payment.
And, maybe, the IMF's Kenneth Rogoff was right,
when he said that by the end of the year the rate of this forefather of virtual currencies will fall to some miserable $100?
Some folks may recall that way back in 2010,
Carmen Reinhart and Ken Rogoff, both prominent Harvard economists,
published a paper claiming that if the ratio of debt-to-GDP crossed 90 percent, then growth went into the toilet.
My best guess is that in the long run, the technology will thrive,
but that the price of bitcoin will collapse,” Kenneth Rogoff, a former chief economist of the International Monetary Fund,
wrote in an op-ed published Monday in The Guardian.
Had they not spurned or, at best, passed lightly over history, more economists would have sensed in the run-up to the 2007-9 financial crisis that the situation,
as Reinhart and Rogoff suggest, maybe wasn't so different
from earlier financial crises after all.