Aren't the assets of Mt Gox more valuable than the liabilities?  As it sat in bankruptcy court, it actually became solvent and very valuable!?

Very true and hence why two chains are existing.  It is an incredible experiment to watch unfold in real-time.

That the immutability of the Blockchain is the single most valuable proposition of the technology.

What it implies is that you better have your head on straight when you decide to launch fiduciary tools like the DAO for example.

Something that can not be counterfeited is priceless, compared to a $60 million loss.

Here is a thought, and hopefully the intelligent young man is listening out there.

What if he were to distribute 50% of his Ethereum Classic holdings equally to all existing addresses as an offering to everyone who believe in the actual purpose of the technology thus reducing his ownership to 5%?  I think that that gesture is more valuable than Satoshi's quite frankly.  He would equally be rewarded as 10x 50% which is much more valuable than 1x 100%.  He even stands the chance to become the head of the organization.  I am dead serious.  There are no charges that can befall him for exploiting an error that was advertised to be complete, secure and tested.  Again remember the CFTC, SEC, CBOE, CBOT all told us that the Black Scholes models were complete as well.  They were wrong.

Ethereum Classic will spike and Ethereum will take a VERY hard dive, eventually Classic will win in the end as immutability is the single greatest value proposition of this technology.

Full disclosure I currently own even more Ethereum Classic below $1 than I purchased initially years ago, for the second round!  Thanks Vitalik and Mr. Ritchie II.

The story of Joe Ritchie comes to my mind.

https://en.wikipedia.org/wiki/Joe_Ritchie

Joe figured out that Black-Scholes was incomplete and he 'completed it', he syphoned off over a billion dollars in the 80's through algorithmic computer [TI SR52] trading.  Was he a thief?  The hacker of DAO took advantage of an incomplete, unthought-out, dreamy hack of a promise.  I cheerlead him and applaud his efforts.

These children playing around with smart contracts, currencies or in Ethereum's case on their website, offering the ability to form one's own Central Bank is absurd.  Years and years and years integrating dozens of people and dozens of disciplines can possibly make for a smart contract, not a child in a basement who does not understand the consequences or repercussions.

Do you have any idea of the standard operating procedures, security checks, audits, and governance that is employed when a single line of code is changed at a Bank?  Nothing could be further from the truth for the DAO project or Ethereum for that matter.

The 'hacker' like Joe Ritchie will hopefully be able to use those spoils to help keep this technology honest and do some wonderful things.  Vitalik is the criminal in this circumstance, literally counterfeiting the Blockchain of Ethereum for his own personal beliefs undermining the very core principal that makes Bitcoin the only network with which you could have any reasonable expectation of security and validity.  Immutable.

I thank Ethereum for what it did for myself and my family.  I purchased it on the very first day of its pre-sale at 2000ETH for 1 Bitcoin, I was in Toronto, I was at Decentral.  I bought alot of Bitcoins worth for the equivalent of 25 cents.  I sold every last one of the them between $12 and $13 the first time it spiked.  I am happy.  I am satisfied and as far as I am concerned (I'm only a single opinion) Ethereum is over and it has taught us all lessons, similar to World Coin, Aurora and all the others that have come and gone.  As there is no way to know the effects of these instruments unless they are tinkered with in real-time, each one has provided priceless knowledge that will keep making these instruments better and better.

More importantly it will allow legislators to begin to craft the frameworks for their proper oversight.

I for one do not believe this extremely intelligent person is a thief.

The fiat game has run for 500 years.  It has achieved a 51% success rate in my opinion, lifting people out of the dark ages by diluting the money supply and incentizing everyone with the proverbial carrot.

Vitalik has rendered Ethereum's value regardless of its human utility, to something like the Argentinian Peso, or the Chillean Escduo, or Romanian Lei.  Each Country had something in common.  A dictator or communist.

Vitalik has joined their ranks and will be remembered in Wikipedia for it sadly, the sad part is that he did do it with 'good intentions,' on the paved road to hell.

What the young man is unable to comprehend is that an immutable, non-reversable blockchain is more valuable than fixing a $60 million loss for people who actually deserved it due to negligence and an inability to put forth proper security protocols while having a fiduciary responsibility to ensure the funds safety.

Lehman Brothers, Bear Sterns come to mind.

I am sure to Vitalik, $60 million is a lot of money and he wants 'to do the right thing.'  What he has done however is unwittingly and unknowingly removed himself from the helm of Ethereum.  Ethereum simply can't be trusted any longer as its community may reverse transactions that "have been executed by Muslims, or French people or maybe blacks," especially if the 51% consensus is a gathering of 19-32 year old white males?  Where does it end?

It ends with Ethereum Classic.  Kudos to the visionaries who understand that the betterment of the many lies in an immutable blockchain which stands the chance to make trillions.

Subsidizing idiocy is not a valuable proposition.

I read this great quote today, "In their introductory white paper, Danezis and Meiklejohn argue that the bitcoin network suffers from a scalability problem tied to its computationally intensive mining process, by which energy is expended to secure a reliable ledger of transactions."

Do these academics have any idea what it costs to keep the lights on for our current central bank authorities from their briefcases, to their choreographed press releases to their board room meetings and meet-ups, to the banks that administer their bidding and to all of the millions of personnel around the World.  I would just wildly estimate it to be about $500M - $1B per day verses Bitcoins $16M per day.

So technically being 2% or less the size of the current framework - " is not scalable" evidently.

In my opinion, Bitcoin's short comings have already been solved from with in.  It is the result of a democratic mechanism.  When Hearn whined and said, "I quit," to me it was one of the funniest moments in Bitcoin's history.  An introverted child who felt he actually had some authority over the protocol.

Satoshi did not choose random numbers for transaction sizes, they were proportional and commensurate with Moore's Law.  Although it is just a theory, we have no indications that Moore's law has ever been violated, more or less.  Logically the next evolution in Bitcoin's block size will be 2MB.  This is practically written in stone and is on par with Intel's 14nm chipsets, afterwards IBM's 7nm, on and on and on.

The forward looking dynamics that takes Bitcoin to a trillion dollar asset class over 30 years is quite astounding.  Play it out, do the thought experiment as the rate of creation of the money supply dwindles and transaction velocity increases.  To be sustainable in 2021 we will have to process 1.2M transactions per day.  This is not possible with a 1MB block height.  It is a 100% guarantee.

The next logical step will be the doubling of the block height to 2MB, in lock-step with the physical memory and storage capacity constraints with hardware development.  Take a 30 year perspective and watch the grass grow.  It is probably one of the most profound human collaborations of all time.

It still astounds me how everyone tries to tip-toe around Bitcoin by mentioning their involvement with Blockchain Technologies.  To me it finally appears to be the crescendo of the third stage of grief - Bargaining.

I would love to ask Standard Charter, IBM, ISITC, DH Corp, Bank of America, South Korea's Security Exchange, the Russian Government, and Sequoia Capital - which are only the first page and about 90% of the available space on Coindesk today, what size of network they have instituted?  How many nodes do they feel they would have to have to be protected?  What kind of protocol would they use and the associated hardware behind that?  Scrypt, ASIC for example?  Are they willing to let the validation of the many protect their data and "Blockchains?"

It is a rhetorical question because I am pretty certain they don't have the foggiest idea.  When the education in implementation comes around, I believe most of the executives will be mildly horrified at the options.

They will begin to try to control it, in fact I would suspect to the provisioning of their own hardware beyond ASIC.  Which means they begin to open up pandora's box to a new era of counterfeiting as everyone and their brother try to mimic the chip designs and algorithms to fork or double spend the tokens associated with the protection of whatever data they deem valuable.

I am looking forward to all this coming around full circle.  It should be a lot of fun!

Elegant.

It is a glorified excel spread sheet that tracks share issuance.  Are you kidding me?

This reminds me of Antonopoulos' Five Stages of Grief speech in Toronto.  The Corp's are trying to make sense of things, trying to cleave off Bitcoin and remove the entire concept of the technology itself. This is centralized control on a NASDAQ server that is susceptible to the same short comings of current systems and the easy ability to compromise these types of systems.

The NASDAQ would never allow 'the many' and 'trust' the democratic nature of an actual Blockchain to secure validity in its market place, let alone proportion an incentivization token for the maintenance of the algo's responsible for the authenticity.  What a joke.

It really is comical to watch this stuff play out.  When Corp's are throwing cash away like this for origami, all of you should just get into the Bitcoin space and say something mildly confusing - you will be mistaken for a Blockchain God and the heavens will rain investment dollars.

Yes not too flattering of a handle in some regards! haha  My friends gave me that nickname as soon as the movie rolled out.  Not sure why, I've never done a qualude or stolen anyone's money, so go figure.  But it was funny and so sure I said, I'll just use that.

On the other side of the crypto-coin is the fact that I am a wolf, and losing those coins on Gox through complacency, to me is acceptable.  I mean seriously what am I going to do.  I knew I was had around January 20th.  I manage a fund in the real World, so to me it was just one of those freeze the markets at 3:15 and lose a million on Blackberry last June 27, 2013 kind of moments.  You move on.

I have many more BTC in reserve and I deserve everything I got for allowing a retarded kid hold on to millions of my dollars.  It is my fault for thinking he was something other than retarded.  I did not do my due diligence.  NO ONE DID!  And that is where the problem lies.

I too understand what you are saying, however considering 75% of most of the people that run the institutions I speak of are also criminals or at the very least morally flawed, Mark is just another fella and far from a malicious parasite like a regard almost everyday in capital markets.  Everyone trying to outwit one another for the betterment of their respective firm or agenda with no actual goal what-so-ever.  Sad.

I am one of the top losers of coins on Gox.  That is life.  There is more where they came from and the show will go on.

I am not mad at Gox.  I am not angry with Mark.  What I'm disappointed with is a self-centered, fraudulent corrupt system that completely turned their back on a semi-retarded kid that had a billion dollars on a memory stick because they were too blind and busy looting the standard system to even blink an eye on a phenomenon that will change mankind forever.

Wall Street, regulators, auditors, accountants, banks, associations, police, schools and centers of academia all failed miserably with every single one of their mamtras, mission statements and purpose for their existence.  I read their propoganda about how they are all here to help and then I think about monkey-man Mark begging for someone to help him while his "video game" grows out of control into a billion dollar enterprise!  These institutions and infrastructure used to be in place to foster capital, create a future, protect ideas and spur imagination and creativity.

Now unfortunately they round up capital for companies like Zynga or other non revnue generating businesses that provide little to nothing for humanity, or they play around with fractions of a second in time trying to circumvent or game the system.  All to provide for a gambling mecha that is now out of the reach of any regulator or policing of any kind.  Every institution has been corrupted directly or indirectly through its partnerships and practices.  Stalwarts like Arthur Anderson, AIG, Citigroup, on and on and on and on.

Here we are with one of the most profound creations of mankind since we began to mine gold 5,000 years ago.  It is really nothing short of a spectacular moment in human history.  Unfortunately few have noticed.  Instead the phenomenon is being regarded as digital music was in he 80's, or the Internet in the 90's, or better yet - not too far off  the mark - Black's in the 50's.  All terrible changes in direction that were vilified and attacked and ended up changing the course of the entire human race!

Mark its not your fault buddy.  It is everyone around you for who is to blame.  You can not be mad at someone who is incompetent, you can only be mad at yourself for thinking that person was anything but incompetent.  However for the higher levels of institutions that turned their back, they can not be afforded the designation of ignorance - they were anything but!  They were just to busy being corrupt and greedy.