> but you have to accept the costs of dealing with all the externalities. cost benefit analysis seems rather simple to me. You either pretend you can govern mo

> but you have to accept the costs of dealing with all the externalities. cost benefit analysis seems rather simple to me. You either pretend you can govern money into a better place using vast amounts of precious resources, such as time and political capital of our central planners, or you celebrate that no one has reasonable expectations that crypto is a safe market and allow it to continue to be an unsafe market which will either die or sort itself out with market pressures. We're not talking about necessary resources like food land or shelter here. Crypto can live or die by its own merits and to pretend governing into the remarkably unfair landscape that is modern finance is worth the resources necessary, seems to me, to be easily dismissed as anything approaching reasonable. Crypto will very likely continue to get more governance, but that's not good or unexpected. It's just centralized power doing what centralized power does, which is expand its power and reach.