> […] it's not reason to rejoice when thieves do scam people […] There’s very little solace in being able to say “I told you so” when disaster strikes. If ther

> […] it's not reason to rejoice when thieves do scam people […] There’s very little solace in being able to say “I told you so” when disaster strikes. If there’s anything to rejoice about, it’s that the current crypto collapse seems to be more isolated from the rest of the economy than, for example, the 2008 subprime mortgage crisis. After the damage has been done, we can go in and regulate the way that crypto should have been regulated from the beginning. You can’t escape politics, and large, public collapses like this provide the political willpower to create the oversight that we already knew was necessary, to protect future generations. > There's also another angle: the very same who are cheering on people losing all their money to a scam were the first to say: "Pay your taxes on any crypto gain you made" (so that, in the end, they get their share of these winnings too through the state's spendings)... I don’t understand the criticism here. If I think that it is right to pay taxes, and I think that crypto is a scam, are you saying that this is somehow hypocritical? I think there might be some steps here in the argument which I don’t see or understand. I believe in due process and the prohibition on ex-post-facto laws. If you make money manufacturing widgets, but I think widgets are morally repugnant and pass laws to ban widget manufacturing, then I don’t get to go in and retroactively confiscate your widget profits from the past five years. You pay your taxes on crypto profits, and then if it turns out that you were breaking the law, you have to face the consequences for that too. Crypto tokens have blurred the lines between securities and other types of products and it makes no sense to pass new laws and backdate them to apply to old crypto transactions.