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Ah yes, how dare we poke and prod at the validity of current governmental systems and regulations. That feudal era was such great times, if we had only not gone
by jsloss 9y ago
Ah yes, how dare we poke and prod at the validity of current governmental systems and regulations. That feudal era was such great times, if we had only not gone against the merits of the government of the day./s
There is little doubt that many ICO's are 'scams', and some people will get hurt financially because of it.
The challenge with regulations is, it's easy to quantify the harm they try to stop, but it's harder understand the impact they have on limiting future creation / innovation etc.
Tokens / ICO's have created a whole new, far more accessible way to fund and invest in new technology. Making it far more equal, fast, open and liquid than the traditional process.
Regulation is coming, as it should. I just hope it's done with an eye for encouraging the right type action, rather than just trying to stop the wrong.
- nikolay 9y agoThere's no perfect system, but what we have right now is better than anything from the past, and it's only getting better. Anyway, I think under-regulation is worse than over-regulation.
- stale2002 9y agoAnd it will get better BECAUSE people are trying crazy new things, like ICOs. Sure, there are problems, as with all new things. But the problems will be fixed eventually, and the legal system with be better because of it. People doing something weird, and different and new and probably illegal, is THE way that our legal system gets better, as we learn to deal with new things, that might be bad OR good. And decide whether these illegal things should stay illegal, or become legal.
- jsloss 9y agoTotally disagree. We have to encourage as many experiments as we reasonably can to continue to advance / solve some of the big problems we are currently facing. Over regulation limits innovation. We should only look to regulate when there is obvious and catastrophic harm. We can regulate after the fact, once we better understand the emerging system and the impacts it has. If potential harm is big, then it makes sense to regulate first. The cost of regulation is harder to see then the benefits, but there is a cost. Not to mention, do you not believe individuals have agency in this world? Why should you decide what I do with my money (assuming it harms no one)?
- buttcoinslol 9y ago> Why should you decide what I do with my money (assuming it harms no one)? Who decides what harms others and what doesn't?