Topic: What is the problem with centralized currencies? - page 3. (Read 1417 times)
Too complicated to solve the problem of money centered, need regulation from all countries to be able to agree.
Governments are betraying their people as soon as they take the control of the state, otherwise the world needs centralization. They having the ability to print money and control everything is what people wanted them to in order to fight chaos, in order to be safe and have security but the only way they know how to bring safety is by building armies and military, that has costs, results in them cut other costs to manage the military, while some where in between some people are stealing for themselves, bitcoin doesn't let anyone to steal because it doesn't give the control in the first place.
We have already seen it with the Mooney we are usually using...centralized currency is guaranteed by the state and that is good but it is also subject to control and manipulation of the authorities. Though I am not saying that decentralized currency can have no disadvantage that is far from the truth as anything man-made or any system made by man can always have negative aspects as well...but decentralized currency can be better for now than centralized ones because practically our authorities are proven to be not trust-worthy and they are always subject to politics and self-vested interests or in other words decentralized currency is very much subject to human nature.
I'm trying to summarize in as few words as possible, what is the problem with centralized currencies? Writing an article about why decentralization is important. I would like a good problem summary to start.
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 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!
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