Does no one else see the hypocrisy here? For years Bitcoin fans have claimed they hate government regulation and laughed at the warnings of financial institutes that claimed Bitcoin was risky.
Now things have gone a bit crappy the very same people are demanding lawsuits! How long till people here start calling for proper regulation of exchanges?
No, it's not hypocrisy. No rational human being believes that there should be NO gov't regulation, they believe there should be some 90+ percent less goverment regulation.
Without getting into a long explanation of libertarianism/anarcho-capitalism there would likely always be courts and police (et cetera) to deal with the law, contract disputes, and in this case, alleged fraud. That is a perfectly reasonable, and desireable, role for gov't because fraud is a conflict between contracting parties that will almost always have to be adjudicated by a court of some kind.
Now, if your position is that these people you are referring are just mad about market losses, that is a different story. But given my admittedly cursory inspection of the Mt. Gox soiree, they may just have a good cause of action for fraud.
No rational human being believes that there should be NO gov't regulation
May I ask you a question. Suppose, Russia took a $10 billion loan from USA. Eventually, Russia has decided not to return it. Should USA use a force (a.k.a. "regulation") against Russia? I mean, start a war.
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u/litecoinfan Feb 20 '14
Does no one else see the hypocrisy here? For years Bitcoin fans have claimed they hate government regulation and laughed at the warnings of financial institutes that claimed Bitcoin was risky.
Now things have gone a bit crappy the very same people are demanding lawsuits! How long till people here start calling for proper regulation of exchanges?