Re: Bubble has burst ..... ?
Ah, the right-winger troll is back at it…
No my dear, while BTC has fallen from the $1000 mark, they're still doing $612-650 on other exchanges. MtGox seems to be no longer the one and only BTC exchange, and its woes are probably bigger since they started complying with FinCEN's rules (they're actually asking for ID and proof of residence these days). Even though I'm not a US Citizen, I still got bit when OKPAY stopped serving 'em. Had I bought BTC back then, I'd have profited a lot by now (BTC was at $55, the up/down swings would've landed me a truckload of BTCs and USDs by now).
I've probably erred too far on caution on these thingies. Of course I wouldn't send my life savings on BTC, but I would send a stash of my non-critical savings there as it seems it gets better returns than my current bank does (3% per year! meh….) While I am skeptic on BTC, I don't dismiss them as "tulip mania" or even "ponzi scheme" as most detractors do. The BTCs will still hold value even if the exchanges go poof as long as someone's willing to use them as currency or trade 'em for hard cash. The same applies to other currencies like USD, GBP, EUR and such, most of our modern currencies value isn't set but is actually given by us ("us" being the markets, reserves, GNP, whatever.) That's why it's called "fiat currency"… and BTC is also a fiat currency, even though the most fervent BTC followers insist in this not being the case.