Who are we to punish? Defend and try to avoid being cheated – yes, however also not entirely possible.

There will always be incentives. The question is who is willing to punish the psychopaths willing to manipulate them.

The question is do you have the physical ability, the financial capacity, the legal framework, & the needed backing to punish them, or will you be forced, over and over, to let them get away with it?

Treasury companies with no proof of reserve are obviously dodgy. Would you take someones "attestation" that they had the money instead of just a pubkey... No.. Anyone who thinks this is ok is clearly cheating. "oh its ok, I don't need easy cirtainty, i'll take your word for it regarding the thousand...

The challenge is creating environments where cheating isn’t worth the cost.

Someone quite recently tried cutting line to use the gas station restroom. When confronted about not waiting his turn, he shot a man dead. The question is what's worth dying over. However petty a dispute, anticipate the other party electing for absolute escalation. https://www.youtube.com/watch?v=...

Have an OT question for you, not related with this post. Can I submit it to you? Publicly, np 🙏

This is the biggest problem I can see right now. Treasury companies with no proof of reserve. Of the top 20 companies only Meta Plannet and XXI are doing it. Anyone without it is suspect. Would you take someones "attestation" that they had the money instead of just a pubkey... No.. Anyone who thinks...