GMONEY Questions Traditional Capital Markets, Advocates for a Completely Permissionless Free Market Over Government or Small Group Control
He pointed out that the stock market has never achieved true free market capitalism, leading to a few monopolistic enterprises dominating globally, and called for a return to a genuinely free capital allocation mechanism.
In terms of market mechanisms, the conflict between crypto and traditional financial concepts is intensifying, with funds accelerating their flow from regulated traditional markets to permissionless protocols and decentralized financing platforms. Web3 projects benefit from the narrative of free access, while traditional exchanges and regulatory bodies face pressure from monopoly doubts.
Source: Public Information
ABAB AI Insight
GMONEY, a prominent voice in the crypto space, has previously criticized the entry barriers of traditional finance. This viewpoint continues the long-standing claims of the crypto community regarding "code is law" and the permissionless concept, aligning closely with the core appeal of the Bitcoin white paper that emphasizes decentralization against traditional intermediary control.
In terms of capital pathways, crypto projects achieve permissionless financing and trading through smart contracts, motivated by the desire to bypass the entry barriers set by traditional investment banks, exchanges, and regulators, allowing more participants to directly allocate capital rather than relying on a few institutions to gatekeep, thereby reducing the structural risks of monopoly formation.
Similar cases include early DeFi challenging traditional banks through permissionless lending protocols, and the alternative attempts of NFT and IDO projects to traditional IPO access during 2021-2022; currently, the global capital market is in a phase of intense competition between traditional regulatory models and emerging permissionless models.
Essentially, this represents a regulatory shift: capital allocation is moving from government and institutional centralized permissions to a code-driven free market, facilitated by blockchain technology that reduces entry friction, breaking the monopoly of small groups, thus allowing capital to flow more efficiently to genuinely valuable projects rather than to relational networks.
ABAB News · Law of Cognition
The fewer the permissions, the harder it is to monopolize; the more freedom, the broader the opportunities.
A truly free market has never been guarded by a few people.
Excellent capital pursues efficiency, while monopolistic capital sells thresholds.