Crypto has literally no actual value yet people are shitting money into bitcoins of every type in hopes that one will hit it big.
That’s not entirely correct. Black and white stones used in voting in someplace antique also have no actual value, but they substitute a vote.
BTC is used as a mechanism of exchange, like a decentralized bank.
Only thing that will stop it is heavy regulation.
Would you agree if someone told you that the only thing to resolve some political problem is heavy artillery?
Or would you doubt that the person talking has good idea of the problem and the solutions, offering the bluntest one?
“Regulation” of the “property rights protection” kind is needed. Providing a service presented as a good that doesn’t work without dancing to a certain tune is simply cheating, it’s theft. Providing a “communication platform” augmenting and weighing your words for recommendation system leading to some intended effect is cheating, theft and impersonation at the same time. These should be prosecuted. But that’s not heavy regulation, that’s an update to pretty light regulation.
Maybe also obligation for every big service on the Internet to have global identifiers and provide a global API exposing all its inner entities, be that posts or users or comments or reactions, with those global identifiers. So that you could export all of Facebook to a decentralized cache, for example. That’s heavy regulation, but also pretty reasonable, in line with old approaches to libraries, press and freedom of speech.
Would you agree if someone told you that the only thing to resolve some political problem is heavy artillery?
Well, if everything else failed…
“Regulation” of the “property rights protection” kind is needed. Providing a service presented as a good that doesn’t work without dancing to a certain tune is simply cheating, it’s theft. Providing a “communication platform” augmenting and weighing your words for recommendation system leading to some intended effect is cheating, theft and impersonation at the same time. These should be prosecuted. But that’s not heavy regulation, that’s an update to pretty light regulation.
The problem with light regulation is that it would probably be too easy to workaround, not that a heavy regulation do not have the same problem btw, but more than the regulation itself is the punishment (and the certainty and timeliness of it) that is important.
Well, if you’ve noticed, the punishments have been becoming less and less over many years, unless you are a small-to-medium business or an individual, in that case you have more rules and more punishments.
They didn’t stop handing out harsh punishments. Just in a highly unpredictable, unequal and arbitrary pattern.
I’ve read someplace that the main difference between modernity and middle ages in legal practice was that in modernity punishments were relatively small, but unavoidable, while in middle ages most criminals avoided punishments, but here and there some poor idiot would be made an example of in a highly disproportionate way, like being quartered for stealing some shit and being rude to a priest.
That’s not entirely correct. Black and white stones used in voting in someplace antique also have no actual value, but they substitute a vote.
BTC is used as a mechanism of exchange, like a decentralized bank.
Would you agree if someone told you that the only thing to resolve some political problem is heavy artillery?
Or would you doubt that the person talking has good idea of the problem and the solutions, offering the bluntest one?
“Regulation” of the “property rights protection” kind is needed. Providing a service presented as a good that doesn’t work without dancing to a certain tune is simply cheating, it’s theft. Providing a “communication platform” augmenting and weighing your words for recommendation system leading to some intended effect is cheating, theft and impersonation at the same time. These should be prosecuted. But that’s not heavy regulation, that’s an update to pretty light regulation.
Maybe also obligation for every big service on the Internet to have global identifiers and provide a global API exposing all its inner entities, be that posts or users or comments or reactions, with those global identifiers. So that you could export all of Facebook to a decentralized cache, for example. That’s heavy regulation, but also pretty reasonable, in line with old approaches to libraries, press and freedom of speech.
Well, if everything else failed…
The problem with light regulation is that it would probably be too easy to workaround, not that a heavy regulation do not have the same problem btw, but more than the regulation itself is the punishment (and the certainty and timeliness of it) that is important.
Well, if you’ve noticed, the punishments have been becoming less and less over many years, unless you are a small-to-medium business or an individual, in that case you have more rules and more punishments.
I noted it. That is why I said that the problem is the punishment.
They didn’t stop handing out harsh punishments. Just in a highly unpredictable, unequal and arbitrary pattern.
I’ve read someplace that the main difference between modernity and middle ages in legal practice was that in modernity punishments were relatively small, but unavoidable, while in middle ages most criminals avoided punishments, but here and there some poor idiot would be made an example of in a highly disproportionate way, like being quartered for stealing some shit and being rude to a priest.