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Many libertarian types do seem to believe something like that. The rise of crytpocurrencies and "smart contracts" has been an exercise in people relearning why

• numismatex 9y ago
  I think you're forgetting that often the shoe is on the other foot -- regulatory agencies create relationships between said agencies and industry leaders, so much that they assist them in creating a marketplace impossible for new faces to get into. There will always be as much Caveat Emptor as there is Caveat Venditor because people have, and will continue to take the easy way or get in over their heads. Half of businesses survive four or five years. It'll probably be more with the stupid amount of funding ICOs generate in some cases. I'll personally be creating a token and crowd-funding my business in the near future with a rather simplistic business-plan, on a far-smaller scale, relying on the business's success to grow rather than getting 100 mil tossed at me. I think most big ICOs have an investment in making "the little guy" look like a dumbass, and the only credibility possible being large teams of big faces in various industries. New tokens picking up the slack bitcoin, litecoin and ethereum offer definitely have a vested interest in the larger coins failing, including value-services like MonaCo, PIVX and (possible scamcoin) PlexToken, so there's that pressure as well. All in all, regulation would've prevented cryptocurrencies and ICOs overall, so saying that regulatory agencies stepping in, is a good thing, when they were all sourced from a CypherPunk that didn't believe government and regulation were a good thing for a variety of reasons.