Post
Topic
Board Bitcoin Discussion
Re: Gox crashing the bitcoin price Why not delete their wallet from the blockchain?
by
BTRIC
on 09/03/2018, 23:27:35 UTC
Gox is crashing the bitcoin price again! Why not just delete their wallet from the blockchain? Or create a forked new bitcoin without them in it?

According to this article the people who had their coins stolen aren't getting back their coins or the current value of the coins and the owners of mt. gox might get the coins instead

https://www.trustnodes.com/2018/03/07/mt-gox-crashed-bitcoin-trustee-sold-bottom-blockchain-data-reveals

The MtGox trustee is apparently not very savvy with cryptocurrency, as the job of a bankruptcy trustee is to return maximum value to the creditors.  Trading patterns suggest that they should have brought in an expert advisor and/or listened to an advisor if they have one.  But that is not a valid reason to fork the world's leading cryptocurrency.  In fact, I don't believe there is any valid reason to do that.

It is my view that Bitcoin will never "fork". People might fork AWAY from Bitcoin, but the real Bitcoin, the one you access with the Bitcoin Core client, isn't going anywhere.  I'm sure the Bitcoin of version 0.50.0 of the client will be VERY different from the Bitcoin of 0.16.0, but it will still be Bitcoin.  It will adapt to changes in technology and usage, as it should.

That's what makes it so powerful, over and above every other cryptocurrency.  It's reliable, even when the market is in the toilet because of this or that reason.  The people that work on the project are super talented, the very best in the world at what they do.  And, just as importantly, they approach Bitcoin with the highest integrity.

If Bitcoin were to fork at every impulse to do so, or maybe throw in a little bit of Ethereum "roll back the clock" mutability, it would not be the leading cryptocurrency.  If Bitcoin fell, it would not be good for the wider cryptoasset landscape.  The whole field is still so very new, so much more to conquer.

Best regards,
Ben