Author: Troy Benjegerdes 2014-02-10 18:02:58
Published on: 2014-02-10T18:02:58+00:00
In this context, a member of the Bitcoin community is raising concerns about MtGox's lack of transparency regarding their code and the potential for market manipulation. They argue that the power to manipulate markets is being handed over to company insiders who are discussing things 'off-list'. The poster suggests that if MtGox published their code under an AGPLv3 license, the community could come up with a workable solution and it would cement their position as market leaders in transparent cryptocurrency trading. Another member responds by stating that MtGox has no obligation to publish their private code and that those feeling wronged as customers should sue them. A third member comments on the known issue of transaction malleability which makes it harder for infrastructure to interact with Bitcoin. They suggest that solutions need to be implemented at the layer above - the infrastructure building on the Bitcoin system. The same member proposes a standard way to identify transactions unambiguously by defining the normalized transaction ID as SHA256^2(normalized_tx + 0x01000000), where normalized_tx is the transaction with all input scripts replaced by empty scripts, a proposal which could make people more aware of the issue.
Updated on: 2023-06-08T02:56:28.364404+00:00