"We have met the enemy and he is us."
+1
I wish I had no skin in the game, i am doing my best to leave fiat altogether. (Want to trade some tiger direct shwag for half a cow? Let me know). So I am in, come hell or high water but if I weren't it would be a fascinating thing to watch. The crypto currency community is probably the smartest in the world on average. Yet they do this exceptionally stupid thing as soon as they are put in a nontechnical position. They cannot see their own blind spot I guess. I would have thought by now a consensus of common sense would have materialized. Look at any country that closes its borders to trade.
Mt Gox === North Korea.
It would be less damning if they were not so heavily endorsed by the bitcoin foundation. They are a recommended exchange even still. Those of us transitioning from professional financial industry positions are staring on in disbelief. Is this the future that Bitcoin envisions will challenge existing institutions? Arbitrary self serving destructive and horrible decisions that lack any common sense, dictated by a technocracy with no understanding of market dynamics?
Bitcoin Foundation needs to bring in some people who don't write code and have had to live in the real world for awhile. Or brace themselves for the bitocalypse they are bringing upon themselves. This is open source, 25 million wallets is big but still very early. This can all be replaced by people with competence in areas outside of programming and math. It will be if this madness continues much longer.
