BitConnect Closes Exchange as States Warn of Unregulated Sales

BitConnect is definitely a ponzi, but I think this sets the wrong precedent. Exchanges should have voluntarily delisted BCC (many already have, but it still trades on some markets and is listed on coinmarketcap) rather than being forced by threats from the government. This gives regulators credence as our protectors and suggests they will try these strongarm tactics again in the future.

The regulators exist because the entire history of our financial and legal system demonstrates that companies frequently don't "voluntarily" do the right thing when there's money to be made.

If all parties involved did the right thing, we wouldn't need regulators, would we?

None of the legit exchanges listed BCC.

bitcoin: a tool for teaching libertarians the reasons we created regulations at high speed

Bitcoin is a tool for liberating people from the ruling elites and the oppression of crony capitalism.

The road to hell is paved with good intentions.

Reference: Why mattresses come with warning tags http://nowiknow.com/why-mattresses-come-with-warning-tags/

How?

Wow, I would love to hear how cryptocurrencies stop crony capitalism. Please explain.