alt Hacker News>If we take from the government the ability to freeze bank accounts of protestors, we can't just also remove the ability to freeze the accounts of criminals
That's really the crux of the issue here: Having to choose one over the other, would you rather some criminals go free, or some innocents be imprisoned?
I suspect anyone's position to this depends heavily on which sides they've been on more on their lives: Victimized by criminals or unjustly punished.
That might be the crux philosophically.
But realistically we're not seriously going to entertain stripping all controls from the financial system because we don't trust the government to do a reasonable job. Perhaps you'll agree that this is a very unlikely thing to happen.
Now my issue here is that many proponents of crypto, among other fallacies, use this exact scenario as a justification for why eg. Bitcoin will go to $1M, and why they should deserve to cash out at a 10x return in the future.
It's not going to happen, and even if it was, there's still no reason for early adopters to profit in what has so far been a zero sum wealth redistribution scheme with negligible value generated.