I think I would argue the decentralized aspect has also failed. Because of limited throughput (350k per day), most transact via exchanges and off chain. Some w

I think I would argue the decentralized aspect has also failed. Because of limited throughput (350k per day), most transact via exchanges and off chain. Some what 90+% of coins are owned by a ridiculously small volume of wallets, with most concentrated in exchanges with a huge volume of coins. Because of the nature of mining, we are seeing more and more consolidation into fewer parties who can afford the electricity burden and hardware capital. We are long gone the day of people mining btc with their ati cards at home. In fact, I saw a blog about how mining is completely unprofitable. It is massively controlled at this point by few rich parties (exchanges, miners) who have disproportionate sway on it's value (wash trading) and transaction throughput. Why exactly should people trust these guys rather than publicly traded/regulated banks or government bodies?