It was completely unregulated when he launched it and he was the proponent of regulation but that didn't come for another 10 years+ after he rolled it out and open sourced the idea.

If you can't see the parallels then meh, it's pretty much the same process any new financial network goes through.

You're entire argument is one big strawman, people will figure out over time how to regulate it, ie custodian solutions are just the beginning, you know all of these funds can be held in escrow.

Your lack of vision is a you problem, not the network's.

Innovate or get left behind, I gave you a clear example from history which refutes your core concept and you just...hand wave it away.