He's saying it's fragile in that the US Government could ban it and the value of the coin disappears overnight.
It's very easy to ban - make it illegal to sell Bitcoin, force ISPs to block international sites that do.
It's very easy to ban - make it illegal to sell Bitcoin, force ISPs to block international sites that do.
The Bitcoin code is open source. Anyone from anywhere can download the code and run a local copy. Your coins are securely stored across computers all over the world. Your balance cannot be frozen by any authority. Maybe central exchanges that convert fiat to Bitcoin could be regulated, but mining cannot be stopped, transactions cannot be stopped. Unless governments all over the world shut down electricity and internet.
At that point question mark is on the government that does this rather than Bitcoin.
Please lets not start this debate. Times and times again it has been proven that software is not secure. OpenSSL was also thought to be secure for quite some time too..
That does not mean it's secure, but at this point it's looking more secure every day.
Bitcoin itself cannot be stopped, but it's utility as a currency (or, as it is now, a speculative investment) can be.