I would say:
- Someone always has the ability to counterfeit
- Controlled by centralized authority who can change the rules as they see fit
- Centralized authority can print more money
- People can have their bank accounts frozen
Ideally a sentence or two to summarize. Maybe something like "Centralized currencies can always be cheated by someone and manipulated in a manner that most benefits those in control, to the extent of locking you out of your account or taking away your money if you do not behave in the manner those people would like. When the people control the currency, the people decide the rules that govern it and no one person can touch your money without your permission"?
Anything else I'm missing?
Thank you!
I really dont see any problems with centralized with the exception that if you have a very weak economy, thats going to rise the price of commodities and mostly when your currency falls to the US Dollar, price of thins goes high.