Of course bitcoin will collapse. There will eventually be a currency that innovates fater and is more techonologically advance than bitcoin. This is what happens in a free market. Look at pocket cameras, mp3 players, home phones, and pda's. All replaced by a cell phone.

The professor has a 50/50 chance for his prediction to be right and when he gives no time table then yes he'll eventually be right, but even a broken clock is correct two times a day.