There is something you are not getting here about bitcoin; decentralization is the opposite of feudalism. Yes, it is an ideology (and so is feudalism), but it is one that promotes individual sovereignty rather than centralized power.

Fiat money created by governments gives them total control of monetary policies and as we’ve seen time and again they are not good at handling that kind of power.

99% of Fiat money is owned by 1% of the population, and these are usually the ones next to the money printing machine. Substituting one centralized system for another would produce the same results. Hence, a decentralized system is necessary in order to avoid elites manipulating the system.

Yes, rich people will be able to buy more BTC than you or me but that’s inevitable, this is a free market after all. But they won’t be able to corrupt the system like they do with fiat.

If you worry about others buying all the bitcoin, go and buy today. Bitcoin is and will be the best wealth redistribution in financial history. 63% of BTC are owned by small fish and these will benefit enormously from this transfer of wealth. It’s not too late.

Bitcoin is not a currency, at least not yet, the market will dictate if it will become so. Bitcoin is property, and a store of value, and in this, it has already succeeded beyond anyone's expectations.

Borderless payments are expensive and slow when done through traditional channels. I do them frequently and I lose a lot of money. This will change with bitcoin and the lighting network. A couple of days is just not acceptable for an electronic transaction. It’d be quicker to send the cash through FedEx.

Digital payments work well in the developed world and only for customers, vendors have to pay 3.5% in fees. In the developing world (60% of the planet) most people are bankless and can't use those, but now they can use bitcoin for small purchases.

Decentralization is a huge feature to preserve the integrity of an asset. It stops manipulation, corruption, hacking, censorship, and more. The Fed has been hacked many times, bitcoin hasn’t.

Failed states are the most extreme in terms of inequality. Bitcoin allows poor people to own property in the form of bitcoin in a permissionless and unconfiscable manner. By removing power from the banks and corrupt officials bitcoin is giving it to the people.

Fiat money would be good enough if politicians and bankers weren’t so inefficient and corrupt, unfortunately, this is not the case. Fiat is a sinking ship and you are sinking with it while chanting its virtues. That's what the feudal lord wants: a happy slave. Good luck.

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Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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Alberto Guerrero

Alberto Guerrero

Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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