Re: Calling Gavin Andresen and others, possibility of restoring MtGox's coins.
If the current Bitcoin model allows a guy like MK to wreak such havoc, then there's something wrong in the current Bitcoin model.
If the current fiat currency model allows you to destroy money by burning banknotes, then there's something wrong in the current fiat currency model.
Haha. Very funny.
"With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party."
Bitcoin is supposed to work without the need for a trusted third party. If that were true, we wouldn't be here discussing MK's evil deeds.
Bitcoin works perfectly without a trusted third party. People chose to ignore that bitcoin does not need a trusted third party, and put their trust in a untrustworthy third party - MtGox.
It has been said many, many times, but if you do not have your private keys, you do not own bitcoin. At best you have a ledger entry on someone's books saying that they owe you X BTC. It is the difference between owning gold or owning GLD; or holding cash in your hand or holding an IOU for cash from someone. This is not a bitcoin protocol problem, but a problem with an exchanges interface with bitcoin which they eff'd up royally.