You can fork the wallet if you have total control over the generation of the wallet such as the exchanges did. You then hide the cloned wallet behind a firewall in which you control the gate. I think we will find that MtGox work involved insiders or at least those IT folks who ran their servers.
Regardless, this will all come out in the end. On Sat, Mar 1, 2014 at 10:34 AM, Craig <cchayniepub...@gmail.com> wrote: > I am sorry, Terry, but some of you're assumptions are incorrect. There is no > way to 'fork' a wallet. If you have a private key to a bitcoin address, then > the only way to 'fork' that address is to copy it and give it to someone > else. Not even the public key to a bitcoin address actually goes on the > block chain until bitcoins, which have already been sent to that address, > are then subsequently spent from that address. > > And the popular Bitcoin wallet used to be Bitcoin-qt, which also downloaded > the entire block chain. It is the original software from which the Litecoin > wallet is now compiled and running. Bitcoin users abandoned it about a year > ago because the block chain became too large. Litecoin users will have to do > the same if Litecoin becomes popular. > > Craig > > > On 03/01/2014 01:58 AM, Terry Blanton wrote: >> >> I don't think litecoin will suffer the errors of bitcoin. With >> litecoin, the entire blockchain exists in every wallet. Mind you, >> this is a huge database and can take days to create a wallet unless >> you order the blockchain on DVD. >> >> Bitcoin only links resident coins to the blockchain along with the >> local code of the wallet. Forking will work with bitcoin; but, I >> don't see how it can work with litecoin. >> >> The other advantage of litecoin is transaction time. With the >> resident blockchain, transactions are almost instantaneous; whereas, >> bitcoin transactions can take up to an hour depending on market >> activity. >> >> Problem is, you can't buy much with litecoin, except bitcoin. :-) >> >
