One of the reasons gold failed was because it became centralized and the bankers/politicians artificially inflated the supply by creating gold notes for gold they didn’t have.

Sometimes I wonder if bitcoin is becoming “centralized” on layer 2/3 tech such as liquid, Lightning, exchanges, fed mints, e cash systems, etc.

I worry these systems may introduce a “layer 2 inflation bug” either purposefully or accidentally. It’s hard to audit all of the layer 2/3 tech.

In other words, gold became centralized in banks, bitcoin will “centralize” into layer 2/3.