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>Coinbase or BitPay losing their customers' money would be an existential threat to Bitcoin. MtGox? Not really. If MtGox was still the massively dominant excha
by unclebucknasty 13y ago
>Coinbase or BitPay losing their customers' money would be an existential threat to Bitcoin. MtGox? Not really.
If MtGox was still the massively dominant exchange that it once was, I would say that it would be at least an equal existential threat to BTC. To this point, BTC has survived (even thrived) without much use as a payment currency (relatively speaking). It's been more about trading.
So, to the extent that a MtGox failure is survivable for BTC, it's because there are now other exchanges with significant market share to support liquidity and trading activity until its use for payments takes hold (if ever).
- anigbrowl 13y agoMany individuals grew suddenly rich. A golden bait hung temptingly out before the people, and, one after the other, they rushed to the tulip marts, like flies around a honey-pot. Every one imagined that the passion for tulips would last for ever, and that the wealthy from every part of the world would send to Holland, and pay whatever prices were asked for them. The riches of Europe would be concentrated on the shores of the Zuyder Zee, and poverty banished from the favoured clime of Holland. Nobles, citizens, farmers, mechanics, seamen, footmen, maidservants, even chimney sweeps and old clotheswomen, dabbled in tulips. - Charles Mackay, Extraordinary delusions and the madness of crowds