>But is humanity really that way? Or does society require a small number of rulers keeping the ruled in line? IMO it depends on the specific ecosystem, and the

>But is humanity really that way? Or does society require a small number of rulers keeping the ruled in line? IMO it depends on the specific ecosystem, and there is no definitive answer for this question. Some systems bring out the worst in people, some don't. However, as bitcoin is a financial system, greed is a major force that it must contend with. As the value of BTC grows, the incentive for bad behavior will grow with the rewards. For that reason, I personally cannot imagine that bitcoin can continue indefinitely without some sort of regulation. I'd love to be wrong about that, however. It remains to be seen if BitUndo can realize their goal under the current framework. It's quite possible that the costs coupled with the initially low success rate and the desire for miners to protect the value of their holdings might prevent it from ever gaining traction. However, their efforts highlight an attack vector and there may be ways to disincentivize their scheme early on.