I feel the key thing we need to achieve is to prevent creeping centralisation.

I am not sure it is creeping.

Once a certain point of centralisation is achieved, it enables the banks to just take over crypto.

I recall people in crypto talking about when will Wall Street get involved so their tokens would moon. I was like are you people stupid. The answer is yes. Wall Street has the funds to take over.

They've got the money to just buy it (by buying all the exchanges and other key control points), since they can hand-wave as much money as they need out of thin air.

In traditional banking, they are limited by the fact they require a borrower to create money. So they really cant just hand-wave. In the Eurodollar system however, that is what they can do.

Of course, now so can we. The ability to generate money out of thin air is within our power.

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