Comment: Absolutely. That's exactly how I see it

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Absolutely. That's exactly how I see it

No Bitcoins were compromised. The value was not devalued or subject to inflation. The only problem was that people, in the heat of their frenzy, got lazy. They placed too much faith in one exchange company to see them Bitcoin. When that company was overloaded (DDOS is not hacking, it's just making their site too busy to do real stuff), THAT COMPANY couldn't continue their transactions for a while. The overall system is perfectly fine.

The reason the price fell was because too many people bought into them for the sole reason of making a quick buck. They heard that "Bitcoin" got hacked (joke - see above) and fled. The result? The exchange rate lost back $40 of it's mega-rise ($130+ in couple months) for a few hours. When that dust settled, it regained more than $30. Now it's back on a more steady climb.

I think yesterday was a great thing. It basically separated the speculators from the rest of the crowd. In doing so, I see much more discussion on how epic of a change this could end up being for the global economy. Fasten your seatbelt!