I don't know if it's scaremongering because I'm not entirely sure what point the writer is getting at. The angle I chose to read is that, cryptos acting all "You can regulate us, because distributed blockchain! Muahaha!" is the 1st order game, akin to the coyote calling bluff on the noisy can.
Government types developing an ill will towards the defiant cryptos is the neighborhood moms getting pissed at the bold coyote.
The animal control is the 2nd order game. Regulators come in and crack down on cryptos. Put the squeeze on exchanges, make it hard to cash out to legal tender.
Government types developing an ill will towards the defiant cryptos is the neighborhood moms getting pissed at the bold coyote.
The animal control is the 2nd order game. Regulators come in and crack down on cryptos. Put the squeeze on exchanges, make it hard to cash out to legal tender.