Bitcoin transactions happen at the “speed of light” (~27:00) REALITY CHECK: As Bitcoin has grown, transactions have become slow. It’s in fact why many people do not accept it for purchases anymore.
Bitcoin is the same speed it's always been. Blocks happen every 10 minutes. The transaction is transmitted at the speed of light but final settlement requires a block. Pay a high fee? Get in on the next block. Want to save on fees? Maybe it takes a few blocks for your transaction to go through. If you use Bitcoin lightning (a scaling layer built on top of Bitcoin which moves transactions off-chain but secures them on-chain), transactions take under a second for pennies in fees. Fees are much, much lower than credit card, paypal, or other similar competitors. You could send a billion dollars in a single transaction and pay $1.50 on main chain, or you could send $5 on lightning and pay <1c in fees. Lightning has been around for 5 years now, it works, I use it regularly.
Bitcoin cannot be diluted (~27:25) REALITY CHECK: Bitcoin is always being diluted until it reaches its hard limit.
The supply of Bitcoin, 21 million coins, is known and has always been known. It can't be diluted beyond that point.
Nobody controls the network (~28:25) REALITY CHECK: If someone were to own 50% or more of the network’s compute power, they could control the network.
Nobody owns 51% of the network. Even such an actor can't print extra BTC or force money to move without the appropriate private key. The best they can do is temporarily delay transactions while burning north of a trillion dollars in energy and equipment doing so. Which is why nobody has ever done it.
Bitcoin’s hard limit is likely very dangerous for the network (~29:00): Once the hard limit is reached, it is unclear if people will keep pumping computing power at it. If the creation of new Bitcoin is no longer allowed, it is possible that transaction fees will need to be raised to compensate miners.
Given that fees have continued to increase with time, this seems like not a problem. It's not "dangerous", it's part of the design. If hashrate drops, it drops, but given that fees and hashrate have continued to grow despite continually minting less coins, it's not really a problem.
Bitcoin’s lack of rules allow for massive amounts of fraud and prevents effective taxation (~29:25): While the video paints a cute picture of financial freedom, the reality is that Bitcoin allows for fraud on a world scale and does not allow for sales tax because of the way that anyone can have a cryptocurrency wallet without disclosing their identity.
Anybody can have a cash wallet without disclosing their identity, yet they still pay taxes. Bitcoin's rules prevent the kind of fraud where the value of your money is printed away via supply inflation of central banks or "currency restructuring" on the global scale by the the world bank. People pay taxes because they think it's the right thing to do and/or because the government has guns and makes them. Either way, if you run a company, if you are providing goods and services, you have a place you can send somebody with a gun and enforce those rules. All the companies currently paying taxes would keep paying taxes if they used Bitcoin.