My big question is how many of these crises Bitcoin can take before the whole thing collapses. I mean, I understand that people have a lot invested in the idea of Bitcoins (mostly mental commitment, but also lots of money), but how many BitInstant/Mt Gox/Silk Road/Sheep Marketplace massive thefts/losses/seizures/whatevers of Bitcoins can happen before people give up on the idea? Once people realize that they can't trust any of the Bitcoin markets, I don't think Bitcoin can survive. There isn't enough actual peer-to-peer use for it to work, as best as I can tell. So is this the time when it goes to functionally equivalent to 0? Or does it take a beating, stagger on, and then take another beating when the next scandal hits?
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Date: 2014-02-25 10:12 pm (UTC)