Do you think today's sell off is being caused by GLBSE closing? Do you ever think we will get to the point where a record default won't cause a dip in price?
It's possible, but in that case I'd consider it a buying opportunity. As with the Gox incident, the viability of GLBSE does not affect Bitcoin in the long term. If Bitcoin needs a securities market, replacements will be developed.
The constant closures and hacks are annoying, but as the saying goes, whatever doesn't kill you, makes you stronger. The weak are being weeded out, and any new exchanges will now have the benefit of hindsight in terms of business models, security measures, and legal preparedness.
We are living in 1850s California. Life is dangerous, catastrophes occur frequently, outlaws roam the streets. But if you stake out some land and manage to hold onto it for a few decades without panicking, you will probably come out a rich bastard.
+ 1! (Why bother to write when someone else has already said exactly what you think?)
I think its a great view of things as well, thanks for putting it like that... Well have some million dollar southern California lots in no time!
