Actually I would argue we're at the "recentralization" stage. Kind of like what happened to the internet. Now that the banks smell profit in the water, they hav

Actually I would argue we're at the "recentralization" stage. Kind of like what happened to the internet. Now that the banks smell profit in the water, they have every incentive to get some concrete rules written around crypto so they can treat it like any other asset on the books. Once that happens they can easily dominate any PoS network due to their access to capital. Even at my most optimistic I don't think the Bitcoin story is going to end differently than other applications of the internet, most of which are now highly centralized.