I don't understand this push for regulation of cryptocurrencies. Just let the mathematics govern. It'll either work on its own, or as people lose their money to trickery and/or carelessness, there will be less and less to regulate as people stop participating.
That's a rather heartless take. You could make the same argument regarding the need to protect any vulnerable members of society. Say, people who are immunocompromised during a global pandemic. Oh wait...
It's never just pure mathematics. You always have a human layer on top, and that means that there is an attack surface for self-interested people to take advantage of others. The purpose of regulation is to minimize the damage those people can do.
I suppose in a future where all the humans are extinct, and monolithic AI's rule the planet, your comment would hold more water.
It's odd that people don't conceive of the health of their neighbor's investments as a support for their own.
Lots of people losing lots of money in your neighborhood is bad.
A good number of people winning the lottery by defrauding others is bad, they make for shitty neighbors.
Ideally cryptocurrencies will disappear on their own before lots of people have lots of money tied up in them. Regulating them makes them appear safer than they actually are.
