Timeline for What would a new exchange need to be better than the rest?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
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| Apr 14, 2014 at 13:46 | history | bounty ended | CommunityBot | ||
| Apr 2, 2014 at 18:41 | comment | added | Riccardo Casatta | You are right, mtgox history with such proof of reserve could not happen. It's great. Maybe enough. But explicit volunteer fraudolent activity by the exchange owner that just after the last proof take it all and fly to "Puerto Escondido" it's not covered. | |
| Apr 2, 2014 at 15:10 | comment | added | user6049 | @xenoky If I understand the Mtgox history correctly, they once gave proof that they had a significant amount of bitcoins, but they did not repeat it and they never proved that it covered all deposits. The ideas this answer links to have the potential to do both (although not in Kraken's weakened implementation) in a way not requiring to trust anyone, and allowing automated weekly or maybe even daily proofs. That would certainly avoid the doubts and rumors that developed (and persisted) around Mtgox' trustworthiness. | |
| Apr 2, 2014 at 12:42 | comment | added | Riccardo Casatta | Proof of reserve is a good thing but solve the problem of trust at the time is produced and not for the future. Mark Kerpeles (mtgox) gave proof of reserve in the past, we all know what's happened next. | |
| Apr 1, 2014 at 21:34 | history | answered | Steven Roose | CC BY-SA 3.0 |