None of his arguments are invalid save the "early adopter wins" scenario.
On every other count he either misunderstands current banking systems, bitcoin, presents a pseudo-argument, or some combination of all three. Honestly, except for the early adopter winning part, the whole thing reads like a shill post designed to do nothing but defame bitcoin. He even calls it a scam. By that measure The Fed is the biggest scam that ever invented if you look at who receives the "printed money" first. They are the "early adopters" in his "bitcoin is a scam" analogy. And they are still in power. So does that really make it any worse?
On every other count he either misunderstands current banking systems, bitcoin, presents a pseudo-argument, or some combination of all three. Honestly, except for the early adopter winning part, the whole thing reads like a shill post designed to do nothing but defame bitcoin. He even calls it a scam. By that measure The Fed is the biggest scam that ever invented if you look at who receives the "printed money" first. They are the "early adopters" in his "bitcoin is a scam" analogy. And they are still in power. So does that really make it any worse?