Proposal: Consensus rule to recover 79,956 BTC stolen from MtGox

[nelson4lov]

Ain't no way you proposed this. It's a radioactive bomb ready to go off.

Even though you have a point, the negative far outweighs the positives and all for what? To add an additional 79,956 BTC sell pressure. The sell pressure isn't that much ib the grand scheme of things but the ripple effects if this gets approved will be disastrous for Bitcoin and the entire crypto community.

The single biggest issue with this proposal is that it increases plenty of attack surfaces for bitcoin. I'd like to know what OP stands to gain if this gets passed.

[PrivacyG]

There was a transaction that satoshi didn't like and it got reversed.
https://www.reddit.com/r/Bitcoin/comments/1o8gn17/the_day_bitcoin_almost_died_184_billion_btc/

So this argument is historically void.

Fixing a bug, glitch, vulnerability et cetera is smart.  Changing the protocol, the fundamental values of a successful Asset because some people used it the wrong way is very stupid.  That was not a 'Transaction' that got reversed, it was a vulnerability that would have made Bitcoin immediately worth zero being fixed.

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Ain't no way you proposed this. It's a radioactive bomb ready to go off.

Even though you have a point, the negative far outweighs the positives and all for what? To add an additional 79,956 BTC sell pressure. The sell pressure isn't that much ib the grand scheme of things but the ripple effects if this gets approved will be disastrous for Bitcoin and the entire crypto community.

The single biggest issue with this proposal is that it increases plenty of attack surfaces for bitcoin. I'd like to know what OP stands to gain if this gets passed.

Excuse my language but fuck the 79,956 Bitcoin Sell pressure, it would come along with my Bitcoin and the rest of the people who would immediately move to another Asset that continues to respect its fundamental values.  If I want an Asset that keeps having its game rules changed, I would simply stick to dirty Fiat in a Bank account.

[odolvlobo]

No. Create your own fork if you want this.

This is the correct and only answer. There is no need for discussion. If you want it, do it. That's the easy part. The hard part will be getting the rest of the world, both miners and nodes, to adopt your fork.

If there is an exchange that will adopt it, then I will gladly adopt your fork for the amount of time it takes to dump all of my new forked coins on whoever will pay me for them.

[Sandra_hakeem]

Spent over 2 hours on the emergence of this matter, just to understand the depth of the fraud you orchestrated, and now it's clear what this is all about. I'll never understand this: Op has plenty of options to the recovery of the hacked coins, yet stealing them (technically) is the best of all?? Just go ahead and create a forked version. If it's not your keys, it's not your coin!

This is one of those moments where you wonder how someone who has already done enormous damage to Bitcoin is proposing an idea to make Bitcoin a shitcoin. When he already has a hard fork in mind[...]

He then proceeded to say this:

I'm not trying to disguise that fact or sneak it through as something else

This man feels like he has a way with words, that he can reappear after several years to make such a specious proposal.

I'd like to know what OP stands to gain if this gets passed.

Seems interesting.... Op??

[internetional]

This proposal has zero chance of passing and sets a dangerous precedent. The entire value proposition of Bitcoin is immutability — transactions cannot be reversed, no matter the circumstance. The moment you introduce a consensus rule to recover stolen funds, you've created a mechanism that can be used again by whoever controls enough hash power or political influence. Mt. Gox creditors waited 10 years and received partial compensation through legal channels.

There was a transaction that satoshi didn't like and it got reversed.
https://www.reddit.com/r/Bitcoin/comments/1o8gn17/the_day_bitcoin_almost_died_184_billion_btc/

So this argument is historically void.

Moreover, even in Ethereum, where the DAO fork created a very visible precedent for reversing a hack, it did not turn into a routine mechanism used every time funds are stolen. One precedent did not automatically open the floodgates. Each such change is a separate and very expensive political process that requires coordination across developers, node operators, miners, exchanges and users. The existence of one precedent does not automatically lower the threshold for future ones.

[hopenotlate]

No thanks, there is already PayPal allowing users to revert their transactions.

Besides the lines of code we should also rename it to PayCoin or BitPal or something like that.

Seriously NO!

Immutability Is a value worth way more than those 79,956 BTC

[OgNasty]

MtGox is currently in civil rehabilitation under Japanese courts. Trustee Nobuaki Kobayashi has been distributing recovered funds to creditors, but these 79,956 BTC are out of reach -- nobody on the creditor side has the private key, and the attacker has shown no sign of moving them in a decade and a half.

As a mtgox creditor, I would be curious what the distribution plan would be for this BTC.  Would it be divided to everyone, or would those who chose early settlements be left out in the cold?

I think this sort of thing would have had a better chance at gaining traction before the payouts were made.  Many of those involved just want to move on with their lives. 

Any news on the mtgox NFTs?  I still have mine sitting around.  Last I heard it was going to provide some sort of exchange benefits?  Is there still a plan being executed there?

No. Create your own fork if you want this.

This is a good suggestion.  Bitcoin being an open source project allows for things like this and who knows, maybe after an initial dump it could rise from the ashes and provide some value that could be recovered for creditors.  It could even go a step further and take satoshi's coins to maximize what could be recovered.  I don't know who would buy it to provide a market, but you never know.  Maybe some big players who lost big in the mtgox debacle.

[Cookdata]

Something just come across my mind and I'm not sure if MagicalTux thought about the consequences or he knows fully the consequences but doesn't care since he need the Bitcoin more than anything.

Let's assume this proposal was accepted and then the fork happen, Bitcoin were moved from that wallet address to a designated address as court directed. What happen next? They collect the coins and return it to creditors and everyone happy right(guess MagicalTux will get fat allocation).

Let's assume in the future, someone had access to United state Bitcoin reserve and moved the coin? The next action will be "write a proposal to confiscate the coins". And that's it, we have turn what use to be a decentralize asset to a piece of shit.

This isn't proposal, this is fooling around to get attentions of Bitcoin community.