People definitely have lost their house on crypto.
There’s allowing failure and there’s allowing Ponzi schemes. I don’t want to live in a society where those are legal.
There’s allowing failure and there’s allowing Ponzi schemes. I don’t want to live in a society where those are legal.
I think that there are many in between states for society, between the two extreme points of "allow ponzi scheme investments to be sold to uninformed investors" and "Communist dictatorship".
Instead of either of those two extremes, we could choose a middle ground of "Liberal democracy, where people running ponzi schemes are prosecuted".
> There is no all-seeing, all-knowing bureaucrat that can detect Ponzi schemes
Nothing is perfect. But it doesn't have to be. The government can just go after the obvious ones, at a very minimum, and get it mostly correct.