I have to say, where ever this goes, this is the most pleasant and substantive "debate" I have ever had with a crypto/decentralization believer. Thanks for that!! Now...

Working backwards in response….

Dollar cost averaging has some validity in that crypto is nothing if not volatile. But 2 features of the use of volatility in crypto render it meaningless: 1) volatility in conventional assets have actual economic bases such as market effects that derive from fed policy, company/sector failures/upswings, etc. that are manageable. 2) And the volatility is usually short-lived for the asset or the market.

In Crypto the biggest component of volatility (seems) to be well, volatility. And the second biggest is some celebrity embracing or dissing it. Therefore in the grand scheme of things your dollar-averaging returns are likely almost indistinguishable from pure randomness. Or, probably.

As for “decentralization”…. Leaving aside the fact that it is a big underminer of democratic forms of government in favor of kleptocratic and authoritarian/totalitarian (each for completely different reasons), ca n’existe pas. There is no such thing. All “decentralized” things are vulnerable to a variety of de-decentralizers: 1) All software is modifiable and all crypto has scads of people who can and do modify it. 2) Whoever owns/controls the infrastructure as a whole or key pieces of it such as ISPs, mobile companies, cloud providers, etc.. 3) The Chinese government or entity that controls >51% mining/block creation 4) Other: https://www.cs.cornell.edu/~ie53/publications/btcProcFC.pdf.

The myth of “decentralization” is an evil worse than crypto, because the believers have the truth staring right at them while they’re watching or being prevented from watching their favorite streaming programs.