Quote from: Raralith on September 11, 2012, 08:17:36 PM

I hate to say this but this "unveiling of number 8" isn't always a good thing. So far in history there is a reason why the heavy hand of authority comes into play, and unsurprisingly after markets have been deregulated for a time period, and turned into a steaming pile of shit. I personally believe that human nature falls into two social categories - those that take advantage of people and those that are taken advantaged of. There will be other pirateat40's with get rich quick ponzi schemes, there will be other Matt's that make reckless bets and don't pay up, and there will be many other denizens that will be far worse than these two combined; at this point in time, it's a simple race to the bottom really.

So, what happens in a completely unregulated market? Is it all a house of cards and one blow away from oblivion because there is no trust? Do all the weak hands, and/or naive investors all leave? Will people finally wise up after being scammed (maybe numerous times) and understand that this isn't a game? You are right, we are going into an unknown, but no one really knows if this will be the end or beginning.

House of cards, in the sense that there's so much behind the scenes graft and market manipulation that the regulating entity doesn't want revealed that they'd rather start the demise of the entire system then let it be revealed. Bitcoin doesn't have this issue - there's nobody pulling the strings here.