Quote:
Originally Posted by blackax
MT. Gox was a bigger exchange but I think the first round of speculators have now jumped out and this bubble has now gone bust. I still think the BTC will go on and the price will go back up.
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It was bigger among the exchanges, but I think total volume was <10%. It went bust to >$500 which is still way higher year over year. That shows resilience, not frailty.
It's not going anywhere. Even larger banks/firms are getting interested. It's a mechanism for payment transfer with essentially zero transaction costs and is fully/absolutely denationalized (no FOREX).
It has to stabilize more in basic value and expand in acceptance for payment of goods and services in the first place. This will probably be a long process, but it has all the basic markings of an excellent, true zero BS international money.