Quote from: repentance on October 04, 2012, 10:53:20 PM

Quote from: Severian on October 04, 2012, 09:57:48 PM

Quote from: repentance on October 04, 2012, 09:36:23 PM

For many services, the honest answer is that they will simply have to close if they come under regulatory or other legal scrutiny - it's about time users were explicitly made aware of that likelihood.

I look forward to the day that every Bitcoin user assumes the existence of counterparty risk when putting their coins to anything rather than assume that they can "trust" someone because they see their friends doing it too.

I look forward to the day when Bitcoin users stop crying "scam" every time they lose money. The majority of real world start-ups fail. The majority of Bitcoin start-ups are woefully under-capitalised and have nothing resembling a viable business plan. That does not in and of itself make them scams. Calling every venture which fails a scam stops us from looking at the factors these failures have in common - it stops us from developing a collective wisdom which can be used to reduce the chance of future ventures failing.

I agree - we investors are thinking too short term. Let's hope that the failures this year lead to less failures next year.

The exchanges have been around for what, six months?

pyrkne

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