[slg]

>They use name calling tactics... It cuts out parasitic elements of the financial system that have grown like a giant parasite over the entire society.

I like your style, calling out the other side for using biased and loaded vocabulary and then you turn around and do exactly the same.

As the original article states, what some people view as a parasite on the system some people view as necessarily regulation and consumer protection. Just look at one of the other Coinbase stories currently on the front page [1]. Due to a mistake by Coinbase a customer was potentially looking at a loss in the five figures USD. The point of regulation is to make sure things like that don't happen and to have a course of action to correct them if they do happen. It isn't about "if people gain economic freedom, they will hurt themselves". It is about "if people gain too much economic freedom, they will hurt others".

[1] https://news.ycombinator.com/item?id=6929705

[thisosound]

Banking is the most heavily regulated industry there is. Regulators have offices inside banks, yet it didn't prevent 2008, HSBC and every other billion-dollar scandal.

[slg]

Protections systems failing isn't a reason to completely get rid of them, it is a reason to reform them.

Using an analogy that has been mentioned elsewhere in this thread, think of your front door lock and your home. Would you get ride of all locks because someone robbed your house? Or would you invest in some other type of lock and security that might not have the same vulnerabilities?

[thisosound]

Regulations made by the state? Why wouldn't corporations pay lobbyists to make regulations shield them from competition and hurt consumers?