Quote from: BitcoinAshley on May 16, 2013, 03:34:24 AM

Think about it... people will FINALLY stop using Gox! OTC and other exchanges will finally rise to the occasion. People will stop making chicken/egg excuses like "lol volume" or completely made up excuses like "there is no US based exchange" or "no US based exchange accepts X funding method."

One exchange having 80% of market share was NOT healthy for bitcoin. Gox needs to crash and die before Bitcoin can succeed!

I second that. If BTC is EVER going to be a currency (instead of a commodity that it is right now) we are in desperate need of TRUE spreading amoung a vast amount of exchanges. I'd like to see more than 50 exchanges (at least) in order to be able to talk about an independent price formation.

YET...

For the time being, a Mt.Gox assault by either / and US/Japanese authorities WILL pose a major setback to BTC. As long as it lasts, I know, but IT WILL. There is NO way ordinary people are going to adopt BTC when exchanges are either unreliable, filing fraudulent bank enrollment forms, closing after some months, etc. etc.

Bitcoin deserves better than what we've seen over the past weeks. But let's be honest: it will fail in an epic way if the problems don't get addressed. And let's be honest once more: that is a problem when having such a decentralized currency... All we can hope for is enterpreneurs willing to setup competing exchanges, and to conduct their business in a moral & lawful way. I just can HOPE for the better. Meanwhile, I would not be surprised to pick up BTC at a WAY lower price before the dust settles... And meanwhile, I am partially positioning myself into Ripple as well (now don't laugh - it IS legitimate, and it is a BUSINESS, contrary to the fukcing-up by Mt.Gox)