The original reasons for the advent of, and then evolution of, and now proliferation of Crypto Currencies, has been the ability of these to avoid regulatory interference.
The attraction for many participants, including myself, is that it is probably the last bastion of privacy available to the common person.
Now, due to the unscrupulous activity of a few players - KEY players - we are hearing calls for regulation!
In other words, investors are running to grab hold of Mama’s apron strings when the bullies appear.
All forms of anarchy will eventually come back to the need for some form of regulation, in my view.
Self-policing can never work and will eventually fail. Look at Big Pharma for your worst examples of this.
No - this is not the scenario we all envisaged years ago when BTC offered a brave-but-risky opportunity to transact business under the radar and far away from the prying eyes of the tax collectors. The Dark Web and the Silk Road are just more examples of disreputable activities which will attract other forms of regulation.
Yes - this is the scenario of your worst nightmares, when the gate-keepers turn out to be the crooks.
The foxes are in charge of the hen-house simply because of the lack of regulation.
Can we have it both ways? No.
Human beings thrive best in regulated environments, largely due to our nature, and propensity to succumb to juicy opportunities to steal what belongs to others when we think we can get away with it.
The current troubles with Bitfinex/Tether are due to exactly the issues investors seek to avoid - regulatory interference.
And this equates to misbehaviour in a section of the industry which - knowing better - went ahead with their dastardly plans, despite the fact that these would bring the whole industry into disrepute.
Sad - and irritating at the same time.
As a buy-and-hold investor in Cardano, I am simply seeing these fluctuations as buying opportunities.
Eventually my investments will produce fruit, but I doubt the industry will continue to thrive without some form of regulatory interference by such as the USA Attorney General.
I am angry too, of course, but I accept the emotion and do not intend to allow that to interfere with what still promises to be a fantastic investment. At AUD$0.10 holders will be pleased they had the opportunity to buy-and-hold at these prices in a few years.
Babies and bathwater. Keep your head.