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Question: How do we prevent something like the gox situation in future?
Regulation - 1 (6.3%)
Transpanscy - 10 (62.5%)
Change nothing - 2 (12.5%)
Other - 3 (18.8%)
Total Voters: 16

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Author Topic: Regulation vs transpanscy  (Read 662 times)
dave3k (OP)
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February 26, 2014, 11:40:25 AM
 #1

Is regulation the best way to prevent corrupt exchanges operating or would this be better achieved via better transparency?

Or is everything fine now?

Is there a better solution?

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Snail2
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February 26, 2014, 12:20:52 PM
 #2

Feather and tar. Then the next CEO will be much more careful with customers money Smiley.
BlockChainLottery
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February 26, 2014, 12:43:21 PM
 #3

It's still a wild west out there. The most honest companies will prevail.
And the larger they are, the more people they will attract.
In the end only a few giant corporations will be left.
It always will end this way because of human nature.
And then a new revolution...

Lauda
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February 26, 2014, 12:48:28 PM
 #4

Sue them, get the money back and we're good to go.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
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FelixOliver
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February 26, 2014, 12:48:33 PM
 #5

The most honest companies will stand head and shoulders above the rest...

In this new economy, Honesty/transparency is almost as valuable as the currency itself.

So, overall, I think this is a natural process we're going through right now. The market is cleansing itself of all the excrement and filth that is stopping it from reaching that $12bn market cap again
dave3k (OP)
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February 26, 2014, 01:03:00 PM
 #6

Feather and tar. Then the next CEO will be much more careful with customers money Smiley.

Damn, I forgot that option.   Tongue

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TheAccountant
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February 26, 2014, 01:39:39 PM
 #7

Exchanges create their own success.
Mike Christ
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February 26, 2014, 01:52:40 PM
 #8

Step one: Overcome groupthink.
Step two: There is no step two.  Enjoy your new-found individuality, e.g. the ability to tell a good exchange from a bad one.

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February 26, 2014, 02:06:59 PM
 #9

Ask the exchange to provide its security and risk concept, this will show you if they are a good or bad exchange. 
Regulation would force transparency to their security procedures.
adworker
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February 26, 2014, 02:59:46 PM
 #10

Next time, do not do business with someone delaying withdrawals for months - clear sign of insolvency. In other words, care more where you are sending your money to, so transparency

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DannyHamilton
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February 26, 2014, 04:01:58 PM
 #11

Transparency would be good.

Independent Security and Financial audits would help.

Deposit insurance wouldn't be a bad idea either.

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