[geezer]

Regulations are generally bad because they can be gamed. They produce a huge population of rent seeking parasites who work for the government to make regulation complex so only they can understand it, then move to private sector to help the business game the broken system they themselves created.

All you need to keep businesses honest is to let individuals/localities/states sue the hell out of the businesses if they are harmed by the business.

The only place regulations make sense is where harm is at a very large (country/planet) scale, where there is no coming back from, such as climate change.

[TomGullen]

> Regulations are generally bad because they can be gamed.

That's a downside, but not at all a reason to write all regulations off.

I'd hate to live in a self regulating society where disputes are resolved by legal action. I'm guessing you're pro legal regulation in this dystopia?

[Spooky23]

That's a cynical and nonsensical position.

All you need to do to refute this is look at the history of fraud, incompetence and other abuse in the Bitcoin/*coin marketplace. Adam Smith's invisible hand drives price competition in the marketplace, but it doesn't govern conduct.

Punting the need for regulation to the courts is just robbing justice from the public at large. Instead of having a rule that can be easily enforced and understood through the regulatory process, you're going to organically create rules via litigation and precedent. But in the process you're raising the bar in terms of cost and preventing entities without the resources to litigate from realizing justice.