Post
Topic
Board Service Discussion
Re: [GOX] A consensus network, or how to stop a big lose (fork it!)
by
pera
on 01/03/2014, 17:32:12 UTC
What you are talking about is an altcoin. Please move to the altcoin forum

No, I am not talking about modifying the protocol, nor maintaining a parallel blockchain. Please read my posts again.

I would very happily buy from that person at a near-zero price. I don't see a problem with that situation.

Furthermore, why would he sell off at low prices? He will not do that.

I think you don't understand the situation: the bad actor have a huge power over our economy, if only 1/3 of that amount is sold in the open market every exchange will go to near 0, and who will buy when there is another +500k awaiting?
Actually, the bad actor don't even need to use those coins, but only buy shorts and sign terror messages in Twitter like "In one hour I will dump 50k in BitStamp". Even more, the bad actor could have financial incentives outside Bitcoin's economy.

Mods: this topic goes much further than the latest events with Mt.Gox. Bitcoin's economy is based on centralized services that could get stolen from too.