BTCs Test of Character

[john volt]

when things go wrong we learn about character

we learn who we can rely on

we learn who acts selfishly and who considers others

we expose fear, courage and the people and organizations we take for granted when things are going well. we also find unexpected heroes wo we may have ignored previously.  just as the recent version problem showed the strength of our community this panic has revealed many weaknesses.  while it is easy to point at "technical problems" to excuse cowardliness and greed it is obvious that human character is the operative here.

it is also clear that the underlying genius of bitcoin and its potential is unscathed. and our finest hours lie ahead: there will be no call for government regulation after this and no confiscation from the many to bail out the few.  instead market forces will sire new competition and higher standards of operation than we suffer today.

let's look forward to a wiser market that we can be proud of.

[onesalt]

The invisible hand of the market is a lie, bitcoin is powered by the greed of idiots and attempting to convince people otherwise is ethically wrong.

[john volt]

my dear compatriot the greed of intelligent - or at least opportunistic - people can not be underestimated.

bitfloor and btc-e have continued trading, we now have competition for trust and the foul incumbent has lost.