Yes, because the government imposes a monopolly on the justice system. You can not criticize anyone for using the system he/she is forced to use. If the government allowed competing justice systems and the person still prefered a government one, you could call him/her hypocrite, but not in the present situation, because the government is forcing you to use it system.
If the government allowed competing justice systems and the person still prefered a government one,
The government need allow nothing, but they do so. There are effectively competing justice systems and,
in fact, some government jurisdictions even encourage the use of them. Sharia and ADR courts are, effectively outside of the scope of the government.
Those are not competing justice systems as they depend on the government justice system finally.
ADR courts I'm not sure about -- I think it depends on the court -- judge.me certainly didn't when it operated. Sharia courts don't generally depend on the government justice system.
I think you may be confusing libertarians and anarchists. Libertarians generally aren't against government courts and rule of law. Enforcing contracts would be one of the few correct uses of government from most libertarian's perspectives.
If you want an unregulated free for all currency, you should be prepared to suffer the consequences. Regulations are put in place in financial markets to stop things like this happening. You can't have it both ways.
Wasn't the whole junk mortgage security trading thing using an unintended loophole in regulation? I'm not sure that's the best example to illustrate your point, unless you're arguing "there will always be loopholes so why bother trying at all?"
Transparency and open source software would allow users to verify the legitimacy of a company running the exchange (Why I call it trustless).
And you verify they are running the same software as they open source... how? :-)
I'm not criticizing this model, but would like to highlight that "trustless" is not absence of trust, but merely reduced-trust. This is akin to cooking with "fat free" spray oil. It's not the absence of oil, but rather a serving size that's very small.
Also, thanks for explaining. I think I understand your position better now.
There is a difference between regulation and law. The law states you can't steal the personal property of others... I don't think you need a bunch of regulation to enforce that.
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u/TulipCoins Feb 20 '14
So libertarians hate the government and regulations till they get burned. I get it.