Ask HN: Do you think we'll ever be able to trust Bitcoin?

Mt.Gox's failure had nothing to do with the Bitcoin protocol and everything to do with their own incompetence at running a financial exchange of that size. Many people's losses could have been avoided if they followed common advice and avoided treating exchanges like banks, instead taking their own responsibility for the security of their private keys.

No one has found a bug in the protocol that breaks bitcoin itself. What is under attack are the layers on top of bitcoin, in this case the exchanges. We will see more exchanges who make an effort to prove they are solvent, likely via technical methods.

Put another way, some businesses running on bitcoin are still operating like ordinary fiat businesses (e.g. fractional reserve of bitcoin). They will be replaced by those that can leverage the blockchain, for it's security, and therefore maintain a higher level of trust.

I still trust Bitcoin itself, but I (still) don't trust the Bitcoin ecosystem.