alt Hacker NewsThat 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.
We are actually completely in agreement that crypto-hustlers and such are entirely full of hooey and nobody deserves any payout whatsoever. I'm only arguing from a point of "government bad" idealism.
>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
I kind of am. What I'm seeing happen is the opposite: The government stripping more and more agency from the individual because it does not trust its citizens do do a reasonable job(of anything). Every sector freed from the Leviathan, every tiny bit of life that can proceed without being subject to gov't interference is a huge win for me. Again, this is essentially a position born from my seeing what happens when "safety over liberty" goes too far.
>negligible value generated
Depends on what you value. I happen to like drugs and gambling. On the other hand, giving someone who falls for a hustle the ability to get their money back is something that I personally do not value at all.