this is a very valid argument. with thther in a precarious position concerning its legitmacy an liquidity the market is skeptical. This is why there is a need for atleast one crypto that is supported by a national government so that people can cash out easier.
I stand by the belief that full decentralization will create issues of even worse inequality because the system would be easily manipulated by whales with no accountability.
I think there needs to be accountability in these systems to improve user faith and create stability.
Any way you flip it there is a need for a currency that is low volatility, accepted as legit by governments and has accountability so people may alleviate the fears that hold the market down.
I know this opens up a whole nother can of worms but it will be a step in the right direction.
I do not think it is necessary to have crypto backed by national governments, but it would be great if a system could be made in which whales have less power.
I don’t know much about mining, but perhaps mining could be more regulated to adjust for the price going up or down, make the changes more soft? Not for the coins that have started already of course, but for a new one?