Most wallets and transactions are handled off-chain by the cartel of exchange platforms. In practice, Bitcoin is more centralized than the banking system.

Excellent debunking. In practice Franck's numbers are super conservative. In practice, it's far worse for BTC.I was going to be critical of small mistakes... but decided, after reading the entire article... and many of the associated links... that I am thoughtful.This article talks about monetary centralisation. But when maxis talk about decentralisation, they only care about full nodes.