With the success & rise & importance of ChangeTip, how can we prevent another Mt. Gox from happening with them?

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ChangeTip is proving to be the first killer app of Bitcoin, and an amazing introduction to Bitcoin for newbies.

Yet to keep transaction fees low, ChangeTip uses off-chain transactions to keep track of our tip balances. ChangeTip also holds all the private keys to any public addresses generated on their site.

It would be a devastating blow to the Bitcoin community (not to mention all the new people introduced to Bitcoin via ChangeTip) if ChangeTip pulled a Mt. Gox on us, either inadvertently (e.g. U.S. Government shutdown) or purposely (e.g. Mark Karpeles theft/incompetence).

What can we or ChangeTip do to prevent this scenario from happening, so that we can ensure that ChangeTip continues to thrive strongly into the future?

submitted by scotty321
[link] [13 comments]

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