This is not the place for ELI5s of how bitcoin works. See Satoshi's whitepaper.
No ELI5 was asked for. If you got nothing, just say "I got nothing."
If you wish to reference something specific, clarify plz

Short version: If you want a dictator to own your money, just give them to someone. You don't need Bitcoin for that.
With Bitcoin you have your own money, controlled by hard consensus rules which were set in stone from the first day. The rules are enforced by every node in the entire network, and to change the rules, e.g. to steal all the money and take taxes for the dictator, you have to change every single node. This is not doable in practice. Therefore all changes have to be in line with the consensus rules, and the powers of the developers are limited.
>You don't need Bitcoin for that.
Looks like this is what I'm getting, needed or not.
>hard consensus rules which were set in stone from the first day.
In stone? My understanding is once upon a time, blocksize limit was 32MB? Not so?
>take taxes for the dictator
Bitcoin is getting taxed just fine, afaik. Proceeds of crimes getting seized (albeit not always, see TradeFortress/Cryptocyprus/Pirateat40/etc., etc.). What am I missing?
>Therefore all changes have to be in line with the consensus rules
Which brings us back to my original post: "'Long as the the dictator gets to define [dictate the meaning of] consensus, I see no problems."
There seem to be multiple schools of thought on what constitutes consensus, and those in politically-favorable positions get to decide which one counts




Bitcoin's consensus mechanism in action. A thing of beauty to behold

P.S. You've previously alluded to Satoshi's white paper, can you clarify which part, in particular?