Technology

Crypto has literally no actual value yet people are shitting money into bitcoins of every type in hopes that one will hit it big.

That's not entirely correct. Black and white stones used in voting in someplace antique also have no actual value, but they substitute a vote.

BTC is used as a mechanism of exchange, like a decentralized bank.

Only thing that will stop it is heavy regulation.

Would you agree if someone told you that the only thing to resolve some political problem is heavy artillery?

Or would you doubt that the person talking has good idea of the problem and the solutions, offering the bluntest one?

"Regulation" of the "property rights protection" kind is needed. Providing a service presented as a good that doesn't work without dancing to a certain tune is simply cheating, it's theft. Providing a "communication platform" augmenting and weighing your words for recommendation system leading to some intended effect is cheating, theft and impersonation at the same time. These should be prosecuted. But that's not heavy regulation, that's an update to pretty light regulation.

Maybe also obligation for every big service on the Internet to have global identifiers and provide a global API exposing all its inner entities, be that posts or users or comments or reactions, with those global identifiers. So that you could export all of Facebook to a decentralized cache, for example. That's heavy regulation, but also pretty reasonable, in line with old approaches to libraries, press and freedom of speech.