There are options for investing in Reg D companies - and I would like you to give some actual examples of where you would have done this for Reg D companies if you could - and how you tried to invest in Reg D companies and how you were turned down.

The main reason why your line of thinking is flawed is - most cases if you know the people to a point where you trust them to invest in them - you will be covered under Reg D affilated investor - and in other cases you probbably would not invest anyway.

Further, so far I have yet to see a practical example where crypto actually acts as shares - with the same protections (but via smart contracts or whatever). So while maybe one day, so far it has not delivered on this promise.

Your basically happy that at the moment crypto allows you to do exceptionally stupid things with your "money".