I didn’t ever really follow the buzz about Bitcoin, but I did pick up a few things here and there. I think that the Bitcoin/Mt Gox issue brings to light a few interesting things:
1. This is what a true free market looks like. Unregulated, no recourse.
2. If you were/are using Bitcoin as an investment, you should look at that money in the same way you would look at other very risky investments. Because with no real regulation and no stable history, it isn’t likely that you are going to see a massive return, or any at all. So you need to be prepared for the worst.
3. Bitcoin is another example of why people and businesses can and should dabble in new investments, new tools, and try new ideas…but the underlying businesses and concepts should still be firmly planted in the basics of business that have worked over the long haul. Knowing the basics doesn’t make you outdated, it makes you capable of effectively using new tools and ideas.