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Author Topic: Gox stash recoverable by wallet update?  (Read 3336 times)
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March 02, 2014, 03:57:28 PM

If you think it is a good idea, do it. This is open source software. Then you can see how many people agree and switch you your Gox-coin. Let us know when the fork is ready.  Talking does nothing to help these people.

I don't understand why everyone would be so against it. It's not bailing out Gox. It's bailing out the people (that's real people some of whom are committing suicide) that invested in Gox. And it's about creating a unique reputation for Bitcoin compared with fiat that will drive adoption, and reverse this PR.

In a regulated exchange you have to keep reserves, and you have to ensure them, and you have to take industry dictated security precautions with it. But if it goes missing it's never seen again. Bitcoin has the opportunity to be better.

Citibank just lost $400m, which is never coming back. Imagine if Bitcoin could show the world that it could fix those problems. If you're worried about setting a precedent, set some rules. 5% or more of total coins in circulation. Forensically traceable to the owner. The evidence presented to the miners that will vote. The new keys passed into the control of an administrator who's job it is to return the coins, bypassing Gox completely.

At the moment the public perception of bitcoin has been retarded by 2-5 years. Forking the chain could advance it by as much.

If the FBI want's to confiscate money they won't do it through control of the blockchain, they'll use the courts. If some authority tries to unjustly confiscate users coins, they won't get the anonymous votes.
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