[BiglyCommentary]

And there are not four intermediaries each taking a cut

Don't make me laugh. For your bitcoin there are a ton of "intermediaries" (miners) that have to play a role in verifying the transaction on the blockchain. They ALL GET A CUT for doing that.

[Vermont Lt]

They compete for the reward. BIG difference.

Try wiring $100,000 across the globe in 40 minutes for $32.