The saga reminds me of Korean cryptocurrency craze of 2017[1], when the government decided to crack down on the exchanges and people were decrying that they wer

The saga reminds me of Korean cryptocurrency craze of 2017[1], when the government decided to crack down on the exchanges and people were decrying that they were being robbed of their only viable way to middle-class life. Well, the following price dip proved the government's point. If the government had looked the other way, there could have been millions who would've watched their life savings evaporate. (Also, if you really wanted, there was nothing seriously stopping you from pouring your money to BTC or ETH or whatever. The government's action mostly worked on those angry horde who couldn't tell Satoshi from Nvidia.) There's a lot of inequality. That doesn't mean the government should encourage (or even tolerate) get-rich-quick schemes that prey upon desperate, financially illiterate people. Because when a few of them become millionaires and one third of them just lost their next month's rent, you made inequality worse, not better. [1] https://news.ycombinator.com/item?id=16121434 https://news.ycombinator.com/item?id=16121434