20/ Currently, the selectorate of money is a relatively small group.
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This obviously depends on network and ecosystem structure and I don’t understand the comp sci there well enough to speak in detail but it seems like a distributed network should allow for more frequent but less devastating blow ups.
For now coin sphere has more diversity than bank sphere, but maybe that's just because it's early. If coin ecosystem ends up like a FAANG market, could actually be less diverse/more fragile than fiat.
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As you said, depends on the structure. Decentralized can still be monolithic (say 80% of coins are BTC clones and someone finds an exploit).
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The ease of forking and open source nature of the projects makes me think that market structure will be less centralized. Thought this arugment was cogent -https://blog.zeppelin.solutions/thin-protocols-cc872258379f … But obviously there are network effects here as well and not sure how those all net out.
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