The meltdown is in progress and will endure for as long as people are delusional, and by looking at a lot of the comments here - most of you are clearly delusional.
And I'm sorry to say that a lot of these cult members who believe in Bitcoin and who are promoting it are so far in the dark about the problems of the system and are so far afraid that it will fail, that their only solution is to put their heads in the sand and hope that it will all work out. And this is really sad. I've seen too many such crazy things and I have so many horror stories that I could talk to you for a whole evening about the things that people are doing because they don't understand anything about the core system or the nature of the transactions and the fundamental issues.
The only way to put an end to it is for the rest of us to make sure that they get the truth out. The only way to put an end to their fantasies is to repeatedly warn them and prove to them how delusional they are.
Therefore, I would like to thank you for being an unsung Internet hero. Your contribution is greatly appreciated.
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[ /sarcasm]