Bitcoin Forum

I was just thinking more about potential solutions to the Mt. Gox situation. Firstly, this is assuming a disaster has occurred and that Mt. Gox has lost control of its cold storage and that noone else has the private keys (thus, they aren't stolen). This is also assuming that the full records of Mt. Gox transactions can be obtained (possibly by subpoena in bankruptcy proceedings).

Under these circumstances, if a majority of miners agreed, would it be possible to hard-fork the bitcoin protocol to just nullify their transactions using their cold storage after a certain date and implement appropriate transactions using a wallet under supervised control to obtain an equitable settlement for all parties?

It seems unlikely this disaster has occurred, but I guess we shouldn't underestimate the level of incompetence in handling there at Mt. Gox.

No idea if this could happen but sounds like as one of the Goxxed I would have to trust yet another person/organisation for this to happen.  :'(

Right now I would only trust someone with my coins if I was armed and in the same room as them. <-- see who says idiots cant learn. 

On the other hand if Mark admits to loosing the key forver then hell what other choice would we have if this is even an option that is.

Not going to happen.  Ever.  Sorry.

Yea didnt think so.

The majority of miners most likely won't agree. And it's not just miners that need to agree, regular nodes need to be on board too otherwise they'll just reject the blocks that implement this change and follow the blockchain mined by those miners that don't implement the change.

As sad as this Goxing is for those that lost coins, retroactively altering the blockchain to fix this issue sets a very dangerous precedent. People have lost access to their coins in the past through no direct fault of their own (other than that they probably should've been more careful), why not reimburse those as well? Where do you draw the line? And once we start tampering with what is considered to be an unchangeable ledger, what reason is there to still have confidence in the fact that transactions that get confirmed are final and irreversible.

Manipulating the BlockChain would undermine every effort set forth when Satoshi designed Bitcoin.

All very good points...sniff  :'(

Sounds like it is technically feasible, though would require the consensus of the mining pool.

If in fact it can be shown that Gox had them and then lost control, I think one might make an argument for it, given it represents 6% of coins mined to date.

There is also the fact that some sort of procedure for implementing this would thus provide a mechanism for such dispute resolution outside the legal system, which could prove very attractive to libertarian minded folks.

But it does lead into the whole debate over coin tainting, etc.

Can't change history, sorry.

Has Satoshi the genius layed out a paper discussing the Constitutionality of the FBI stealing the world's money?

I thought not.

Miners can choose anything they want, and they can fork and mine anybody out of their picture, if they want.

so many of the BTC crew are just like Mark: Weak and lame and hiding behind lawyers.  PATHETIC.

As you all sit back and watch all the n00bs get robbed FOR YEARS.  Fucking disgrace to call this technology and then you know who steals the coinbags and you sit back?  If BTC will not fight coinstealers of the world, then that is their choice.

Money itself is the ropes by which humanity is bonded to the bondman.  You people know not your Hegel.  I will mine whatever blockchain fights oppression and globotheft of good people's coin.

While I tend more toward the Libertarian view, I like the sentiment. Bitcoin was supposed to free people up for peer-to-peer transactions without government interference, not contribute to it.

Thanks, I mean, the SR heist and the MtGox lockup is what, 10% of all coins in float?

Kinda easy to just say F YOU to both parties.

Oh I'm sorry, has the blockchain and Satoshi'a idea not been whored around the block 1000 times yet already?  Okay then, so whatever blockchain you support, that's the government you support.  Meaning, no government will devovle to gangs, and in the end, I guess it is the gangs who bet on BTC?  NOT REALLY, the gangs bet on fiat and laws-as-weapon.

So BTC needs to band together as a gang in itself, and deny the haters the coins they think they own now.  Well, I am kinda just trolling but PM me if you think I am not for real.  ;D

Seriously, I am going to introduce my own coin soon, and it will be the coin of truth, and it will be ruled by a rod of iron, if my coins get stolen by the FBI on my blockchain, I will write thm out of that blockchain faster than snot.  Let them carry their own fork.  They can call it MTGOX.

What if we just let the owners of those coins "hard fork" their face onto a dick, and learned from it, and learned that when you get GOXXXED there is no return?

Haha, you are right, let them eat dick.

It is a hell of a community.  I wonder if Satoshi himself is such a prick?  If so, he's earned it!