Wow. Things aren't looking good. This recent crash, plus mtgox shutting, plus the heavily negative news articles coming out in the last few hours, plus all the people who bought in recently and are now losing money. Things aren't looking good for the next few days/weeks.
Thoughts?
Thoughts?
My thoughts is the writing has been on the wall, people just chose not to look. Gox has shown time and time again the inability to handle large volume. Perhaps this will finally cause some diversification into other exchanges. We need to decentralize away from Gox.
The "crash" is only a crash if you have a very short memory. Speculators lost a lot of money and I don't see that as a bad thing nor do I see the bad press as inherently bad. Bitcoin is so new that any news is good news. I found out about Bitcoin back in 2011 after a guy got his personal computer hacked and lost hundreds of thousands of dollars. It was a short-term tarnish, but it turned me on to Bitcoin a lot sooner than had that article never been printed.
This is not a get rich quick scheme. For Bitcoin to succeed, it's going to take work, not pipe dreams of the price going up 10% per day to infinity while you sit on the couch eating potato chips. Those of us that have been around for a while know this. Those new to Bitcoin, well, you just got your first lesson. Now those weak hands get shaken out and the strong hands help to continue to build Bitcoin to its potential.
