Topic: GOXXED AGAIN (Read 1011 times)
https://bitcointalk.org/index.php?topic=492776.0;all
If you want to improve things I'm suggesting the following:
1) help find the money
2) encourage the various exchanges to adopt higher standards of security, responsibility, transparency, and accountability. They should be community certified, be bonded, have insurance, provide performance guarantees, provide better customer service, provide signed proof of solvency via the blockchain, provide regular audited statements, and the like
3) help develop a program that can search the blockchain for critical info
4) ask others to help the cryptocurrency industry in any of these 4 ways
as it stands right now, the situation that occurred at Mt Gox could happen at any other exchange, which places the whole cryptocurrency in a downward pointing spiral. Essentially, btc holders are slowly cashing in their coins in hopes that something material changes. But as time passes the realization of the btc protocol flaw (inability to find the money, resulting in unreasonably high risk) becomes painfully clear.
The blockchain is a perfect witness, it sees everything but if humans are unable to use it then it's useless large scale roll-out.
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