Ending the Tech Oligarchy. Bitcoin Tech Talk Issue #210
Online, too many of us are completely dependent on tech companies. Google, Facebook, Twitter and even the service that hosts and sends this newsletter, Substack, essentially have a veto over our content. They are essentially trusted third parties, which can be good for convenience, but when that veto power is abused, can really suck.
Bitcoin has given us a way to end the financial trusted third party. That’s one of its main attractions is that we don’t need permission to send money to whomever we want. Of course, that comes with some cost as now we’re responsible for our own security, but the trade-offs of getting rid of fractional-reserve banking and theft through inflation are well worth it.