If you have been reading the news lately, you would know the story about OceanGate submarine that failed and killed all people onboard. The cause of this tragic incident is that the creator of the submarine chose to ignore regulations. He believed that they are only in place to stifle innovation and that he knows better than the others and can't be wrong.
OceanGate CEO Stockton Rush said in 2021 he knew he'd 'broken some rules' by making the Titanic submersible out of carbon fiber and not pure metal: 'You're remembered for the rules you break'lThis should be a cautionary tale to people who dream about society without government and its regulations. Imagine if someone makes an "experimental and innovative" nuclear reactor that explodes and gives radiation sickness + cancer to hundreds of thousands. Or someone makes an "experimental and innovative" dam that collapses and floods houses. Invisible hand of the market won't be able to undo the damage or prevent it in the future from repeating again.
Well, I partly agree. Breaking rules if you're risking people's lives is obviously not ok. If Stockton Rush would use his submersible himself that would be fine. Space rockets, planes, submarines all were risky inventions. Satoshi Nakamoto and Bitcoin also broke some rules but he didn't hurt anyone. Bitcoin is revolutionary, it also ignores some regulations, so what? Ban Bitcoin?
I like people talking without any sentiments, that's why I see your comparison as useless as anything. I wonder why you would be comparing Rush's risk with crypto to justify that it doesn't hurt anyone. Rush's own is obvious and took lives but have you thought about how the total unregulated crypto environment would hurt people and the economy? And what the effect could be over time?
I stand for crypto adoption and regulation, else, everything will go where we don't expect as the users are also the people you don't know their minds and motives.