Proposal for Mt. Gox: New "Goxcoin" blockchain

Posted by jbaudanza on Wednesday February 26, 2014 @09:50PM
from the self-post dept.

Assuming that all the MtGox bitcoins are gone, this is my proposal.

MtGox creates a new blockchain called "Goxcoin". The genesis block will distribute coins to all the cheated customers. Each customer will need to generate or be issued a Goxcoin receive address.

Since the MtGox failure is going to affect a sizable percentage of bitcoin holders, this alternate blockchain has a viable chance of succeeding.

What do you think, HN?

( 5 comments | 7 points | on HN )

Re:Proposal for Mt. Gox: New "Goxcoin" blockchain by catinsocks on Wednesday February 26, 2014 @10:09PM (#7310101)

I think people should lose their money and learn why it is a bad idea to keep your bitcoins in something pretending to be a bank, an exchange, and other things all in one.

[ Parent | on HN ]

Re:Proposal for Mt. Gox: New "Goxcoin" blockchain by Fomite on Wednesday February 26, 2014 @10:36PM (#7310224)

This. You want a currency with no meaningful regulation or protection? You take the bad with the good.

[ Parent | on HN ]

Re:Proposal for Mt. Gox: New "Goxcoin" blockchain by jbaudanza on Wednesday February 26, 2014 @10:45PM (#7310272)

This is a proposal for changing some of the bad into good.

[ Parent | on HN ]

Re:Proposal for Mt. Gox: New "Goxcoin" blockchain by gekkonaut on Wednesday February 26, 2014 @09:56PM (#7310042)

I propose the protocol enforces a random shutdown period for days at a time. This would be for no reason other than "market cooling".

Also, the logo should be a frappuccino.

[ Parent | on HN ]

Re:Proposal for Mt. Gox: New "Goxcoin" blockchain by debacle on Thursday February 27, 2014 @10:31AM (#7312661)

I think this would be a big nail in any coffin that Bitcoin may or may not have.

[ Parent | on HN ]