I agree. But the general infrastructure is robust: excessive measures by any single exchange hurt that exchange more than anything, and therefore the competition keeps them at check.
My "permabullness" has lasted for exactly 50 days now. Before that I was a bear for 97 days, almost twice as long!
Problem is that Bitstamp are the only large exchange that I don't think are operating a fractional reserve Bitcoin operation. Bitstamp has always required 3 confirmations before any BTC transaction is verified. Both Bitfinex and BTC-E have credited transactions before a single confirmation in the block chain. I say it is likely that both have been hacked and robbed. The $100 flash crash on both these exchanges is certainly an indication that something very amiss has affected them both.
In short, I trust Bitstamp as a safe place to have funds lying around but think everywhere else is dodgy as fuck.
