The post Who Rugged Rogoff? appeared on BitcoinEthereumNews.com. Kenneth Rogoff spoke, and the Bitcoin hornet’s nest awoke.  When the celebrated Harvard economist and former chief economist at the IMF yesterday publicly confessed that he was wrong on Bitcoin, he didn’t do so gracefully; instead, he doubled down. You see, it wasn’t that his prediction in 2018 of Bitcoin’s imminent doom and the bitcoin price to quickly collapse was wrong; it was Trump crypto regulation was beneficial instead of the needed crackdown Bitcoin was embraced and (shockingly) used by criminals, and Trump “brazenly hold hundreds of millions … of dollars in cryptocurrencies seemingly without consequence.” I mean, talk about willful ignorance. Scooby-Doo called and wants his villains back (“I would have gotten away with it, too, if it weren’t for you meddling kids”). There’s no other value to this thing, no other censorship-resistance use case, no savings-outside-the-shady-banks option, no instant global payments over Lightning? Even in that 2018 CNBC interview, Rogoff said regulation of the sector would lead to lower prices, not a catalyst for higher ones, as he now pretends. This smells like a salty rationalization, not a serious analysis.  Slay Your Heroes, Always Rogoff’s excellent book, This Time Is Different: Eight Centuries of Financial Folly, and especially the freely available data behind the research for dozens of countries over hundreds of years, was a godsend during my university years. I learned so much from him.  When I finally met Rogoff in 2018 or so, it was a total “kill your idols” moment. He had just released his unfathomably stupid book The Curse of Cash — about how we should ban cash because criminals… and cash also makes monetary policy transmission worse and negative interest rates more difficult to impose. I was trying to explain to him the virtue of competitive note issuance and monetary freedom. To my… The post Who Rugged Rogoff? appeared on BitcoinEthereumNews.com. Kenneth Rogoff spoke, and the Bitcoin hornet’s nest awoke.  When the celebrated Harvard economist and former chief economist at the IMF yesterday publicly confessed that he was wrong on Bitcoin, he didn’t do so gracefully; instead, he doubled down. You see, it wasn’t that his prediction in 2018 of Bitcoin’s imminent doom and the bitcoin price to quickly collapse was wrong; it was Trump crypto regulation was beneficial instead of the needed crackdown Bitcoin was embraced and (shockingly) used by criminals, and Trump “brazenly hold hundreds of millions … of dollars in cryptocurrencies seemingly without consequence.” I mean, talk about willful ignorance. Scooby-Doo called and wants his villains back (“I would have gotten away with it, too, if it weren’t for you meddling kids”). There’s no other value to this thing, no other censorship-resistance use case, no savings-outside-the-shady-banks option, no instant global payments over Lightning? Even in that 2018 CNBC interview, Rogoff said regulation of the sector would lead to lower prices, not a catalyst for higher ones, as he now pretends. This smells like a salty rationalization, not a serious analysis.  Slay Your Heroes, Always Rogoff’s excellent book, This Time Is Different: Eight Centuries of Financial Folly, and especially the freely available data behind the research for dozens of countries over hundreds of years, was a godsend during my university years. I learned so much from him.  When I finally met Rogoff in 2018 or so, it was a total “kill your idols” moment. He had just released his unfathomably stupid book The Curse of Cash — about how we should ban cash because criminals… and cash also makes monetary policy transmission worse and negative interest rates more difficult to impose. I was trying to explain to him the virtue of competitive note issuance and monetary freedom. To my…

Who Rugged Rogoff?

Kenneth Rogoff spoke, and the Bitcoin hornet’s nest awoke. 

When the celebrated Harvard economist and former chief economist at the IMF yesterday publicly confessed that he was wrong on Bitcoin, he didn’t do so gracefully; instead, he doubled down. You see, it wasn’t that his prediction in 2018 of Bitcoin’s imminent doom and the bitcoin price to quickly collapse was wrong; it was

  1. Trump crypto regulation was beneficial instead of the needed crackdown
  2. Bitcoin was embraced and (shockingly) used by criminals, and
  3. Trump “brazenly hold hundreds of millions … of dollars in cryptocurrencies seemingly without consequence.”

I mean, talk about willful ignorance. Scooby-Doo called and wants his villains back (“I would have gotten away with it, too, if it weren’t for you meddling kids”). There’s no other value to this thing, no other censorship-resistance use case, no savings-outside-the-shady-banks option, no instant global payments over Lightning?

Even in that 2018 CNBC interview, Rogoff said regulation of the sector would lead to lower prices, not a catalyst for higher ones, as he now pretends. This smells like a salty rationalization, not a serious analysis. 

Slay Your Heroes, Always

Rogoff’s excellent book, This Time Is Different: Eight Centuries of Financial Folly, and especially the freely available data behind the research for dozens of countries over hundreds of years, was a godsend during my university years. I learned so much from him. 

When I finally met Rogoff in 2018 or so, it was a total “kill your idols” moment. He had just released his unfathomably stupid book The Curse of Cash — about how we should ban cash because criminals… and cash also makes monetary policy transmission worse and negative interest rates more difficult to impose. I was trying to explain to him the virtue of competitive note issuance and monetary freedom. To my shock, he was sputtering nonsense about free banking and falsities about U.S. banking history, let alone the past monetary arrangements of Canada, Scotland, or Sweden, of which he knew nothing.

The moment really stuck with me. I was young and not yet that disillusioned with elite knowledge and the much-revered academic establishment. But I was speechless that a famous Harvard professor didn’t know better… what, the skills and cognitive faculties and hard work that got you here have now been completely eroded? 

It was around this time that I started saying,

It was a wake-up call of astronaut-meme proportion: I was in the big leagues, the hallowed halls if wisdom, interacting with the big names, talking to the smartest and most celebrated of economists and economic historians in my field… and it turned out they were unread in all the things that matter. I remember a night in Oxford when I had to explain to a well-respected historian how loans in one bank end up as deposits in another, thus multiplying the (broad) money supply. Textbook stuff.

Elite university profs can be stupid…? Yeah, totally. 

Bitcoin derangement syndrome, BDS, is a big, bad monster that’s taken many bright minds away from us, well before their time. Many fiat elites became too enamored by their own egos, too stuck in the status quo that, by the way, has benefited them enormously. They often become blind to the errors of their past opinions. 

The correct intellectual approach when reality behaves differently from what you expected is to reassess your model. Maybe you got something wrong?

The reasonable reaction to the bitcoin price doing 13x (+1,220%) in the seven years since you loudly proclaimed its imminent death is to change your mind. (For reference: U.S. official CPI: +29%; U.S. median earnings: +38%; S&P500: +146%.)

Maybe I missed something, you ought to ask yourself. Maybe there’s something here that I couldn’t see. Maybe, just maybe, there’s true value in this worthless, speculative, technobabbling disaster?

I have lost almost all of my respect for legacy academics; we definitely need new institutions of (higher) education. Bitcoin is for anyone, but not everyone, and people get bitcoin at the price they deserve.

For all I care, Rogoff can join the likes of Elizabeth Warren at the back of the line.

Source: https://bitcoinmagazine.com/takes/who-rugged-rogoff-blames-criminals-trump

Market Opportunity
Threshold Logo
Threshold Price(T)
$0.009417
$0.009417$0.009417
+1.10%
USD
Threshold (T) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Q4 2025 May Have Marked the End of the Crypto Bear Market: Bitwise

Q4 2025 May Have Marked the End of the Crypto Bear Market: Bitwise

The fourth quarter of 2025 may have quietly signaled the end of the crypto bear market, according to a new report from digital asset manager Bitwise, even as prices
Share
CryptoNews2026/01/22 15:06
CEO Sandeep Nailwal Shared Highlights About RWA on Polygon

CEO Sandeep Nailwal Shared Highlights About RWA on Polygon

The post CEO Sandeep Nailwal Shared Highlights About RWA on Polygon appeared on BitcoinEthereumNews.com. Polygon CEO Sandeep Nailwal highlighted Polygon’s lead in global bonds, Spiko US T-Bill, and Spiko Euro T-Bill. Polygon published an X post to share that its roadmap to GigaGas was still scaling. Sentiments around POL price were last seen to be bearish. Polygon CEO Sandeep Nailwal shared key pointers from the Dune and RWA.xyz report. These pertain to highlights about RWA on Polygon. Simultaneously, Polygon underlined its roadmap towards GigaGas. Sentiments around POL price were last seen fumbling under bearish emotions. Polygon CEO Sandeep Nailwal on Polygon RWA CEO Sandeep Nailwal highlighted three key points from the Dune and RWA.xyz report. The Chief Executive of Polygon maintained that Polygon PoS was hosting RWA TVL worth $1.13 billion across 269 assets plus 2,900 holders. Nailwal confirmed from the report that RWA was happening on Polygon. The Dune and https://t.co/W6WSFlHoQF report on RWA is out and it shows that RWA is happening on Polygon. Here are a few highlights: – Leading in Global Bonds: Polygon holds 62% share of tokenized global bonds (driven by Spiko’s euro MMF and Cashlink euro issues) – Spiko U.S.… — Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) September 17, 2025 The X post published by Polygon CEO Sandeep Nailwal underlined that the ecosystem was leading in global bonds by holding a 62% share of tokenized global bonds. He further highlighted that Polygon was leading with Spiko US T-Bill at approximately 29% share of TVL along with Ethereum, adding that the ecosystem had more than 50% share in the number of holders. Finally, Sandeep highlighted from the report that there was a strong adoption for Spiko Euro T-Bill with 38% share of TVL. He added that 68% of returns were on Polygon across all the chains. Polygon Roadmap to GigaGas In a different update from Polygon, the community…
Share
BitcoinEthereumNews2025/09/18 01:10
WWE Royal Rumble 2026: Confirmed Entrants, Updated Card

WWE Royal Rumble 2026: Confirmed Entrants, Updated Card

The post WWE Royal Rumble 2026: Confirmed Entrants, Updated Card appeared on BitcoinEthereumNews.com. DUESSELDORF, GERMANY – JANUARY 12: Liv Morgan and Roxanne
Share
BitcoinEthereumNews2026/01/22 15:14