[sireat]

My problem with the exchanges is that they are not transparent, the people behind them are either unknown or rather incompetent (how many snafus has MtGox had in the last 3 years?). So as an European I have to send funds with SEPA to some unknown entity in UK/Slovenia/Bulgaria AND provide all my private information? Meanwhile, the owners could take off any day tomorrow with the BTC and the information.

BTC exchanges are operating in EVE like territory, the only reason to trust them is because they have not run away with the money YET. Ironically, this benefits MtGox the most, who despite/because of the ridiculous withdrawal limits have managed to stay in the business the longest.

The only exception that I would be willing to trust is Coinbase and that is only because of YC connection, and that is no guarantee either but the best for now.

BTC will only take off for the masses, when there is a reputable company offering banking/trading services with BTC.

Localbitcoins have to do for now, but is not something that scales very well.