Would You Support Abolishing SEC and Similar Institutions?

Most of the modern institutions and bureaucracies are historical abominations and they were established after the highest rate of growth in human civilization in the known history was achieved. Think about the rate of progress we are seeing in cryptosphere and AI. This is how things used to be in all types of fields. It turned out that regulating what one can do in terms of the kind of code individuals can write is the most difficult kind of innovation to dampen with obscene regulations.

The founding fathers of USA detested the idea of central banks and for most of the history gold and other precious metals were money. The best part is that the the price of goods and services has held semi-stable against gold throughout thousands of years. That is what we would be back at if we eliminate central banks and use blockchain to transfer gold ownership.

Unfortunately, eliminating central banks is a tremendous feat and an uphill battle. I suggest we should start with smaller goals and focus on hostile institutions that should be easier to get rid of.

• Abolish SEC
• Preserve SEC
• Reform SEC