Proposal for Mt. Gox: New "Goxcoin" blockchain

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

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gekkonaut 12y ago ↗

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.

catinsocks 12y ago ↗

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.

Fomite 12y ago ↗

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

jbaudanza 12y ago ↗

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

debacle 12y ago ↗

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