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


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]

from Bitcoin http://ift.tt/1sC2qji


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