No regulators.
Regulation is needed. We need and want rules.
What people like the SEC don't like is
- a free market for rules
- rules enforced by cryptography, not politics
This way regular people choose rules that work for them. The SEC wants to choose the rules that they want, not what regular people want.
Indeed, those traditional regulators will have to settle for enforcing their rules on companies that offer custodial services and handle fiat. The SEC can try to regulate the exchanges if they want, pretending they're still relevant, but hopefully most users will gradually see the sense in relegating exchanges to obsolescence in favour of more decentralised alternatives like atomic swaps.
The problem with this approach is that if Bitcoin's ecosystem will be too hostile towards regulations and control, it will eventually become outlawed in more and more countries. Bitcoin can and will survive in such conditions, but I think it will severely cripple it, since governments will put countless obstacles. I would prefer Bitcoin staying in the gray zone, with minimal attention from the governments, but it is unlikely to last for long.
I'd say we're just hostile enough. I'm just more vocal about it than most, heh. I'm not suggesting we do anything more radical than we're already doing, with the exception of relying less on centralised exchanges.
