Great post, however I want to make the point that there is a difference between direct and representative democracy.
I think cryptocurrencies and decentralization has the potential to democratize the internet and give more power and money back to the hands of the people. P2P networks can cut out the middle men, the bureaucracies and the governments who dictate to us how something must always be done through their approval.
In turn, I would point out that participation in any free market activity is truly decentralized empowerment of the individual to choose, rather than the political manifestation of the bandwagon fallacy in any form.