I just read this in another thread:
I just don't think the US government will allow it to go on forever though. Not for US citizens anyway.
I agree, and the mandatory question right at the top of Form 1040 is just the beginning.
No doubt the government will want full self-reporting of every wallet address you control in the future. But the fact remains - if you fail to comply with fiat regulations, then the government can take your fiat out your bank accounts with ease. If you fail to comply with bitcoin regulations, the government can't take anything unless you hand it over to them.
If that happens, what will the price make? Because before that comes, I would sell all my early mined Bitcoins (2010 - 2011). Then Bitcoin wouldn't be Bitcoin as I knew it anymore.