Contents of my email to mt gox support site:

I emailed you a few months back about this. I got no response.

I hope you have plenty of cash reserves, you'll need it to regain your integrity. I have a proposal, open source your exchange site. Establish a not-for profit credit union. Or at least have the exchange be client run through a cryptographic voting system. Eventually you could form a network of not-for profit exchanges that become credible.

Open sourcing your site will amplify security and efficiency. I think at this moment its the only option you have.  

Thanks

[not]

I had an idea for this concept a couple of months ago when I was thinking about running my own Bitcoin ATM drive through bank.

Run a computer with some kind of secure linux distro. Tiny core would be a good base to work from since its one of the most lightweight distros.(Only 10 MB or so!)

Run the standard stable bitcoin server with every port blocked except the ports need by the bitcoin server.

Tiny core runs completely in memory so if some one were to try and compromise the machine and it lost power then everything would be permanently erased. No trace. In order for your wallet to be recoverable, enable a script that periodically encrypts your wallet and sends it a remote databank, like google docs, drop box, ect. Do not use hard drives.

Install SSH but use key based authentication with a password needed to unlock your private key. This would allow you access to your machine from any terminal on your local network. Disable password logins and make sure the ssh port is blocked from outside access.  

Connect the headless server to your Ethernet, never use a wifi network!

Also connect the pc to a back up power supply and surge protector.

Hope this helps!

PS: I'm thinking about making a linux distro based off of this called SecuCoin.

If I understand this, currently the bitcoin network is larger than the top 500 supercomputers. And all of this "work" is being carried out just to ensure the integrity of itself. This seems completely vain. What if the network utilized more dynamic work such as work from one or many of the BOINC networks AND maintained the security of the network? This would probably require a new block chain, but this would be the first kind of currency backed by SCIENCE. Not backed by some arbitrary algorithm, but backed by discovery.

I realize a major problem with this concept. This would create a kind of centralization. Who would dictate the work the network would generate? Would a strong cryptographic key be used to administer the work flow to each client? This would resemble a central authority. But what if we allow the network to decided what work it wants to do by consensus. Allow people to vote on the type of work, and those nodes that don't vote would automatically follow the greater consensus.

This would give governments and other authorities a reason to keep the network alive and maybe even support it. It would function as an engine of invention.

Why would anyone want to destroy that?