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RE: Bitcoin Massive Price Drop, Profit Taking, BTFD, And Why There Will Never Be Another "MtGox Event"
I like the sentiment.
I disagree with your statement that there will never be another Mt. Gox. There is always the possibility for these pseudo-legal, centeralized exchanges to become insolvent or be hacked.
I think there is very much a possibility for a Mt. Gox scale market correction. Although with many more exchanges in the business at this point - that is very unlikely.
Yes, I agree. That's kind of my point -- there are too many exchanges and too many buyers waiting to catch the next dip for things to crash as hard as it did with MtGox.
Thanks for your views!
Somehow I still have a feeling that a mt gox correction is possible :-/
Exactly. When the "Mt. Gox event" occured, the exchange conducted 70% of ALL bitcoin transactions. That is unheard of now. While another event like this one is possible, it's very improbable.