Paul Vigna: Cannot Control Bitcoin System

Posted by admin on Monday, October 23, 2017

Paul Vigna Money Quote saying there’s not a way for governments or banks to control cryptocurrencies and authorities don’t like bitcoin for that reason. Paul Vigna said:
real argument against bitcoin is that it's a system authorities cannot control Quote

“The real argument against bitcoin is that it’s a system authorities cannot control” — Paul Vigna


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Paul Vigna is referring to the decentralized nature of Bitcoin and other cryptocurrencies. Unlike traditional currencies controlled by central banks, no single entity controls the Bitcoin network. Transactions are recorded on a distributed public ledger called the blockchain that is maintained by thousands of computers all over the world.

So governments and banks cannot manipulate the supply or shut down the network because it has no central point of failure. This lack of centralized control is something authorities dislike according to Vigna since it limits their ability to regulate the currency.

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