So having a “currency” (its not really; is an asset) being controlled by an unaccountable “Tony cabal of developers” instead of a central bank is better how exactly?
It's good you don't understand it, because it wouldn't be better. It be much worse, because as unaccountable as central banks can be they'd be more accountable than that.
But that simply isn't how Bitcoin works. Bitcoin developers have no such authority. People with no special power beside respect and goodwill, write software on their own as they're free to do just are you're free to do. Other people voluntarily chose to run it. If people don't run it, it's completely inert. They cannot force anyone to run it. Subject to the limitations of public review, they cannot make hidden changes. The software has no automatic updates, and the developers have a long history of being extremely vigorously opposed to automatic updates.
Because whatever effect the software has on the network could only be slowly realized as it's deployed (short of something like a crash bug or an RCE or similar) there is ample time for the public to review a new version -- even if they chose to ignore the open development process -- and sound the alarm against running it if they judge it to be adverse.
If you don't like software put out by one developer, you can run software from another. You could create your own (or pay someone to do it) from scratch. You could run an old version. You could take a version you don't like and make modifications until you do...
Moreover, the biggest community of developers in Bitcoin makes their software all free software, develops it on public lists/websites/irc channels, and has taken considerable efforts to maintain compatibility with other software specific to maximize your ability to choose to not run it without feeling too much conflict or hesitation-- You can happily go take Bitcoin 0.8 from 2013 or and years old copy of knots or a number of other forks or alternative implements... start it up and it will sync and come to consensus with the network. (I wouldn't necessarily recommend running something that old exposed to the internet-- due to vulnerabilities-- but you could and it would work fine.)
I would say your freedom is like your freedom with free software, but it isn't quite: If almost everyone else chooses to run something incompatible you can still keep running your original, but you might find yourself on a separate currency from everyone else. Since money gains it's value from network effects you might fine that less than ideal. But that's the limit, and it's also why the Bitcoin community is cautious with incompatible changes-- essentially never having intentionally made one. Faults in version prior to 0.8 make them self-incompatible, unfortunately. If you want to run a version prior to 0.8 and come to consensus with the network today you'd have to patch a database handling bug in it.
I think this is better. It's certainly very different properties than a trusted third party, and even if you're not sure it's clearly better-- perhaps you can agree that diversity and choice is useful and that you're better off for having the opportunity to use it should the need arise.
But that simply isn't how Bitcoin works. Bitcoin developers have no such authority. People with no special power beside respect and goodwill, write software on their own as they're free to do just are you're free to do. Other people voluntarily chose to run it. If people don't run it, it's completely inert. They cannot force anyone to run it. Subject to the limitations of public review, they cannot make hidden changes. The software has no automatic updates, and the developers have a long history of being extremely vigorously opposed to automatic updates.
Because whatever effect the software has on the network could only be slowly realized as it's deployed (short of something like a crash bug or an RCE or similar) there is ample time for the public to review a new version -- even if they chose to ignore the open development process -- and sound the alarm against running it if they judge it to be adverse.
If you don't like software put out by one developer, you can run software from another. You could create your own (or pay someone to do it) from scratch. You could run an old version. You could take a version you don't like and make modifications until you do...
Moreover, the biggest community of developers in Bitcoin makes their software all free software, develops it on public lists/websites/irc channels, and has taken considerable efforts to maintain compatibility with other software specific to maximize your ability to choose to not run it without feeling too much conflict or hesitation-- You can happily go take Bitcoin 0.8 from 2013 or and years old copy of knots or a number of other forks or alternative implements... start it up and it will sync and come to consensus with the network. (I wouldn't necessarily recommend running something that old exposed to the internet-- due to vulnerabilities-- but you could and it would work fine.)
I would say your freedom is like your freedom with free software, but it isn't quite: If almost everyone else chooses to run something incompatible you can still keep running your original, but you might find yourself on a separate currency from everyone else. Since money gains it's value from network effects you might fine that less than ideal. But that's the limit, and it's also why the Bitcoin community is cautious with incompatible changes-- essentially never having intentionally made one. Faults in version prior to 0.8 make them self-incompatible, unfortunately. If you want to run a version prior to 0.8 and come to consensus with the network today you'd have to patch a database handling bug in it.
I think this is better. It's certainly very different properties than a trusted third party, and even if you're not sure it's clearly better-- perhaps you can agree that diversity and choice is useful and that you're better off for having the opportunity to use it should the need arise.