Solid point, but I'd prefer a permissionless system where any actor is able to have a voice in the direction of policy to a walled garden where wealth appears to be a prerequisite for membership.
Any permissionless system must allow maliciously self-interested actors to act as they please, so long as the underlying soundness of the currency is not affected. The mass printing of tether has no effect on the usefulness of bitcoin as a transaction medium, just a temporary effect on its usefulness as a store of value (and personally, the value of bitcoin seems to be doing just fine). I'm still able to transfer bitcoin from my personal device anywhere in the world in seconds (at 0 confirmations, about an hour for the recommended 6), as opposed to waiting days for an ACH or wire transfer to clear.
Anyway, bad actors are the reason that we need the rule of law in this space. If Bitfinex is as shady as is claimed, they won't be able to get away with their schemes indefinitely.
