And no use at all as an index
Because the price is skewed by the meaningless Mt. Gox figure.
The Winklevoss twins have returned to the tech world with the announcement of a new Bitcoin price index called Winkdex. To cryptocurrency lovers, the Winkle Twins' new service will operate as “a blended price index that is designed to reflect the true price of bitcoins”. The price exchange's moniker bears comparison with …
The panic sellers have run out of BTC now anyway, the price has been going back up since midnight after hitting $110/BTC vs. about $570/BTC on other exchanges, and that's after the crash has devalued BTC across the board. The price on other exchanges should start dropping once Mt. Gox is running properly again and the vultures start offloading their hoards. Would've liked to have been one of those vultures but I don't have a USD bank account and I can't be arsed setting up an account on Mt. Gox.
Bad time to be a miner *facepalm* I think I'll hold on to my miniscule BTC fortune for a while.