Quote
The whole cumbersome process of getting and spending the currency... convinced me of one thing - that Bitcoin was not yet much use except as a means of speculation.
... OR store of value.
Quote
The only reason to get hold of Bitcoins right now is because you think they might be worth a lot more in a few hours or days.
Not quite the only reason. Your timeframe might instead be months, years and even decades. Which really does change the... *giggles*... 'impact' of this crash.
Quote
But unless and until Bitcoin can be used to buy a sandwich, or be accepted by your friends when you pay them back for a restaurant meal, then it is likely to remain just a playground for geeks and gamblers.
This is the crux of the matter. Bitcoin *can* survive indefinitely as a store of value, but it would be worth so much more if it could also be a means of transaction. Actually I don't particularly need it to be viable at POS, just rent and utilities bills would be great. But groceries, even better.
One thing's for sure: this crash is NOT newsworthy in the grand scheme of things, it's only newsworthy because reporters and journalists have a job to do, and they can't talk about Margaret Fucking Thatcher *all* the time.
