The Crypto has no greed problem

xuanling11
Coinmonks
Published in
3 min readAug 5, 2022

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Photo by Henley Design Studio on Unsplash

Hacking, rug pulls, VC bankruptcies, and founders running away with their luxury cruises are just a few that you see in Hollywood movies but occur in the crypto world. Many people blame people’s greed in the crypto market and believe the government should regulate people’s greed. Does that actually work?

A free market with greed

Some said the free market is a wild west because people are full of greed. That is why we need regulations to punish those people. They are criminals. Wait a minute. You probably believe this statement is 100% true.

To justify such a statement, the government has a right to set up an entity to oversee the activity. That is why the central bank (The Fed) was founded after the 1929 financial crisis to prevent a bank run.

If you only focus on the single event of 1929, it is correct that the central bank was needed. But, a history is a continuance event. Therefore, you cannot single out one occasion to prove your statement is accurate. History continued, and the Americans experienced far worse than the 1929…

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