I would agree with the other commenter who says exchanges are a centralising force, look at the dumping going on now, this isn't because of plebs theres are big holders who got liquidated, I am not complaining they deserve it, but they add more layers of risk and volatility when there's so much capital with one entity.

To mitigate it I think we need to expand, sadly bleh the stablecoin on bitcoin on ramps be that Liquids stablecoin swaps into Lightning, having Taro create backed stablecoins on lightning, USDT on lightning with Omnibolt, so that people can create their own markets to trade between the two assets and expand the DEFI/P2P trading keeping capital in house, and reducing the KYC/centralized onramp exposure

I also think there is a centralising risk of nodes and node implementation, most normies are running umbrels, but I'd like to see more competition for nodes in the space, like embassy etc. I'd also like to see encouragement for people to run pruned nodes which may be less resource-intensive so we can get more nodes online

I'd say mining also continues to centralise but since it's becoming such a resource intensive industry its more about countries getting involved now