|
Title: What would happen if the govt seized mt gox? Post by: skittixch on April 19, 2011, 06:49:17 AM Let's face it. The government is creeping into the web more and more lately, and the inherent nature of bitcoin makes this a potential issue. Currently, I see a large reliance on Mt Gox for pricing information and general stability. Are we prepared for the possibility of hitting mtgox and seeing this?
http://american-conservativevalues.com/blog/wp-content/uploads/2010/11/domain-seized.jpg We need to stay a step ahead if we're going to have control over our own destinies. What do you guys think? Title: Re: What would happen if the govt seized mt gox? Post by: MoonShadow on April 19, 2011, 07:14:08 AM I think that, since MtGox is a website in Japan these days, the most that the US FBI can do in the short term is steal the domain name. DNS lookup says that the IP address is 69.64.54.59, but direct use of that address does not lead to MtGox.
Title: Re: What would happen if the govt seized mt gox? Post by: error on April 19, 2011, 07:24:21 AM I think that, since MtGox is a website in Japan these days, the most that the US FBI can do in the short term is steal the domain name. DNS lookup says that the IP address is 69.64.54.59, but direct use of that address does not lead to MtGox. Regrettably, the server at this IP address is in St. Louis, Missouri. Title: Re: What would happen if the govt seized mt gox? Post by: MoonShadow on April 19, 2011, 07:29:45 AM That is regrettable.
Title: Re: What would happen if the govt seized mt gox? Post by: MagicalTux on April 19, 2011, 07:41:59 AM With backups on various places of the world, too. Hosting in Japan is just too expensive (about 15 times more than US servers) to be used by default.
Title: Re: What would happen if the govt seized mt gox? Post by: skittixch on April 19, 2011, 07:45:10 AM I'd given thought to an open source, p2p trading application that one would run in conjunction with bitcoin and float synchronized data across the nodes.
Title: Re: What would happen if the govt seized mt gox? Post by: MagicalTux on April 19, 2011, 07:47:40 AM I'd given thought to an open source, p2p trading application that one would run in conjunction with bitcoin and float synchronized data across the nodes. Bitcoin avoids doublespend problem by applying a delay, however a trading system requires all the stuff that we do not know (yet) how to run decentralized: trust, realtime, atomic transactions Title: Re: What would happen if the govt seized mt gox? Post by: skittixch on April 19, 2011, 07:50:19 AM well...someone should...ya know...
...Get on it. :P Title: Re: What would happen if the govt seized mt gox? Post by: fetokun on April 19, 2011, 07:57:04 AM we would just have to add mtgox to these guys' list: http://www.mafiaafire.com/
Title: Re: What would happen if the govt seized mt gox? Post by: gigabytecoin on April 19, 2011, 08:15:35 AM we would just have to add mtgox to these guys' list: http://www.mafiaafire.com/ That, and get everybody in the world to use mafiaafire + firefox Title: Re: What would happen if the govt seized mt gox? Post by: Patat3 on April 19, 2011, 12:52:58 PM I'd given thought to an open source, p2p trading application that one would run in conjunction with bitcoin and float synchronized data across the nodes. Bitcoin avoids doublespend problem by applying a delay, however a trading system requires all the stuff that we do not know (yet) how to run decentralized: trust, realtime, atomic transactions Many companies with sensible content choose Canada to host their applications to avoid dealing with DMCA and other governement intrusions. Canada is well peer with USA and the rest of the world. Power is cheap and very reliable and there are big hosting companies. Most poker websites servers are hosting in an Indian reserve south of Montreal. They can avoid most US laws and provincial laws. They are also exempt of many Canadian laws, because of old treaties. Do you own your servers? I have free spaces for 18U and many servers running OpenVZ with room for more VE in the rest of the rack. All in the newest iWeb.com datacenter. Title: Re: What would happen if the govt seized mt gox? Post by: Timo Y on April 19, 2011, 04:39:46 PM Not much would happen. People would quickly move to a different exchange. Mtgox and Bitcoin Market were crippled by scammers in Oct 2010 and it didn't threaten the project seriously. This proves that the bitcoin community is pretty resilient and flexible.
Title: Re: What would happen if the govt seized mt gox? Post by: Anonymous on April 20, 2011, 12:31:28 AM Mt Gox should make their site easy to replicate by anyone who wishes to mirror it .
Title: Re: What would happen if the govt seized mt gox? Post by: tomcollins on April 20, 2011, 01:21:25 AM Mt Gox should make their site easy to replicate by anyone who wishes to mirror it . The problem is not the site, but getting the infrastructure set up, getting bank accounts set up, etc... Title: Re: What would happen if the govt seized mt gox? Post by: marcus_of_augustus on April 20, 2011, 01:44:06 AM Mt Gox should make their site easy to replicate by anyone who wishes to mirror it . The problem is not the site, but getting the infrastructure set up, getting bank accounts set up, etc... They could franchise their brand/model to partners in other locales. And provide a fast BTC conduit between trusted MtGox partners/agents ... as per Thomas Cook, WU or similar. Title: Re: What would happen if the govt seized mt gox? Post by: Anonymous on April 20, 2011, 03:02:01 AM Mt Gox should make their site easy to replicate by anyone who wishes to mirror it . The problem is not the site, but getting the infrastructure set up, getting bank accounts set up, etc... They could franchise their brand/model to partners in other locales. And provide a fast BTC conduit between trusted MtGox partners/agents ... as per Thomas Cook, WU or similar. that is what I was thinking. Like Jim's Mowing or wendy's (google it) :) Just swap in whatever local bank you use. Mt Gox has market makers also so if there are no buyers or sellers the exchange itself settles the order. ie you need deep pockets to set that up. |
