This is a value judgement. If you find crypto to be unfair, there's a very simple solution that doesn't require bringing in guys with guns to deal out punishment. You can simply just not participate.
In an ideal world we could get rid of insider trading, but selectively punishing people just makes the problem worse and with so much of congress dominating the market I think it's quite clear the punishment is selective and itself incapable of being fair.
It is much worse to give the illusion of fairness than to let people freely choose whether the "fairness" of some market is enough to justify participating. Of course, this is just my opinion.
> This is a value judgement. If you find crypto to be unfair, there's a very simple solution that doesn't require bringing in guys with guns to deal out punishment. You can simply just not participate.
Ok. And I assume the welfare bills of crypto scam victims will be paid directly by crypto companies? What about hospital bills from attempted suicides? If you want crypto to be its own special island, fine, but you have to accept the costs of dealing with all the externalities.
> 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.
