4 ms·
Look, for the most part, regulation is good. In theory. In practice what ends up happening is that regulators come in with measures "meant to protect the peopl
by ivanmontillam 4y ago
Look, for the most part, regulation is good. In theory.
In practice what ends up happening is that regulators come in with measures "meant to protect the people" that also indirectly harm the early adopters. That's why enthusiasts aren't very enthusiastic of getting regulated. Regulators get a bad reputation because most of the time a regulation ends up like this; they are seen as killjoys.
I am not keen on regulation because I cannot trust regulators to do a great job at preserving "the magic" of a technology. Yes, exchanging (and most of the time, losing) value into cryptoassets and scammers are a real thing, as much as money laundering and tax evasion; however, once the black suits come in[0], it's all downhill.
I don't know the alternative, other than letting the code by-laws regulate itself. The very essence of what Bitcoin represents.
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[0]: I mean, the sad state of regulation nowadays, in which is protecting the best interests and power of the elites.
- ETH_start 4y agoRegulation of voluntary interaction violates the core principles of a free society but has become widely supported due to propagandistic tropes.