Just like Panama canal scandal was only its investor’s issue, it still changed significantly how Stock Exchanges are regulated. BitCoin appears unregulated and hard to make sense of: MtGox was an entry point for many newcomers , one whose obscurity proved damning. Those newcomers, attracted by business magazine covers (and drugs on Silk road) were the first wave that changed BitCoin from a crypto-geek game into a valuable currency. No body is challenging the fact that people have lost money, citing dollar figures -- a unit BitCoin was meant to avoid initially.
You are right in saying it’s not a BitCoin disaster: it will trigger massive changes in the currency, just like Silk Road’s closing has triggered a legitimation of the tool.
As for rhetoric: all publicity, even bad, is legitimation this is a worthy interest to look into; business magazines like blood, but their prefer victory in adversity. I promisse that you’ll have enough “How we step out of MtGox rumble and built a competitor to Visa” soon enough. Remember ‘Web 2.0’? that actually was the shortest version of that story, told by O’Reilly. You’ll have a similar catchy name for what BitCoin will become soon enough; my money is on an international payment system with lower fees. The tax-avoidance angle was as lame as only ultra-liberalitarian can be; the drug angle seemed to have missed both the decriminalisation trend, and the whole ‘Every transaction is recorded forever, publicly’ part of the protocol; the funky price chart is a sin of youth. It could become a (long-term) reserve for value, that has been the secondary angle through-out, but I don’t see it: I believe that should remained reserved for ventures, talent and fine wine.
You are right in saying it’s not a BitCoin disaster: it will trigger massive changes in the currency, just like Silk Road’s closing has triggered a legitimation of the tool.
As for rhetoric: all publicity, even bad, is legitimation this is a worthy interest to look into; business magazines like blood, but their prefer victory in adversity. I promisse that you’ll have enough “How we step out of MtGox rumble and built a competitor to Visa” soon enough. Remember ‘Web 2.0’? that actually was the shortest version of that story, told by O’Reilly. You’ll have a similar catchy name for what BitCoin will become soon enough; my money is on an international payment system with lower fees. The tax-avoidance angle was as lame as only ultra-liberalitarian can be; the drug angle seemed to have missed both the decriminalisation trend, and the whole ‘Every transaction is recorded forever, publicly’ part of the protocol; the funky price chart is a sin of youth. It could become a (long-term) reserve for value, that has been the secondary angle through-out, but I don’t see it: I believe that should remained reserved for ventures, talent and fine wine.