I was referring to this:

>>It is impossible to be serious in a space dominated by liars as they will outcompete you every time.

And making the point that the space will be dominated by the competent and honest in the long run if left to its own devices.

My comment was explaining why I believe that would be the long-term outcome.

It may, or it may collapse under the weight of the less scrupulous.

The cryptocurrency market is incredibly resilient. I've been involved in it for years and seen that even after the worst crises, it comes back stronger. Absent centralizing regulations, eventually all of the industries created by the new use-cases it enables will mature, with innovative technological solutions and much higher levels of consumer awareness, which is a much more robust outcome than the regulatory one that would devolve into a closed Old Boys/Girls club like the traditional financial sector.