Img643, exactly correct. Except I take it one step further. An aspect of Bitcoin's fundamental design (transparent transaction records) was supposed to prevent

Img643, exactly correct. Except I take it one step further. An aspect of Bitcoin's fundamental design (transparent transaction records) was supposed to prevent _exactly_ the sort of thing that happened with Mt. Gox. History shows that states create markets. And that markets require states. This is true because only states, organizations which have monopoly control over the legitimate use of force, can effectively provide police protection for transactions to be consistent, reliable and trustworthy. Bitcoin's transparent transaction record, designed to make states obsolete in this traditional role, was not enough to fix the problem. It became too tempting to subvert this design, because there's no one who will handcuff you if you try. Consider, perhaps Mt. Gox _itself_ was the perpetrator of this theft. There's no way to prove me wrong!