Comments Elsewhere

Many people are worried because of a sudden huge drop in Bitcoin prices on MtGox. That sucks, because so many people have relied on MtGox, but what’s happening is not a general crash in Bitcoin prices. Bitpay (which is overwhelmingly the most relevant for those of you who have Bitcoins and intend to spend them on real goods and services) is currently trading at US$ 636.80 / BTC. Bitstamp is at $642. BTC-e is at $626. Bitfinex is at $640. BTC on MtGox is in the crapper at ~ $315. Compare: http://ift.tt/1bYAm2k http://ift.tt/1bYAkHY http://ift.tt/1bev1sB The issue here is not that Bitcoin is crashing, and it’s not that nobody wants to use BTC. It’s not, and they still do.The issue is that right now nobody wants to use MtGox.