“At its peak, GLBSE was responsible for around 10 percent of the mining power in the Bitcoin network and was doing a similar volume of trade to what MT Gox was at the time. ‘It started almost by accident,’ McCarthy told Wired.co.uk. ‘I found Bitcoin in late 2010 and thought it was cool, so started mining myself.’ It wasn’t until early 2011 that he set up GLBSE as a project on the side of his day job as a teacher in China. As momentum grew, McCarthy thought he should seek legal counsel. He went to a solicitor who spoke to regulators before coming back with a verdict: ‘His opinion was that I should shut it down as soon as possible.'”
http://www.wired.co.uk/news/archive/2013-10/24/bitcoin-exchange-collapse-glbse
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Nevada bill would legalize gambling on federal elections
Cops Break Down Door Without Warrant, Taze Cameraman In Front Of Wife And Kids
Texas Congressman Is Now Accepting Bitcoins For His Senate Run
7 Ways States Are Defying the Federal Government With Local Laws
Adam Kokesh on The Presidency, The Constitution, US Military, AI, Ron Paul, Rothbard
The Bulgarian Government Is Sitting on $3 Billion in Bitcoin
Vida Cannabis: Up, Up and Away for A Perfectly Positioned Company
Israel Used Soldiers as Guinea Pigs in Untested Anthrax Experiment
Is Your Local Police Department Using Pictures of Pregnant Women and Children for Target Practice?
Introducing Europe’s Frightening New Tax Directive
Senators Demand that Banks Be Punished – but Not the Fed
Minnesota Libertarian arrested for collecting ballot signatures in a park
Georgia’s civil asset forfeiture 'reform' to go into effect
One Man's Terrorist
If Iran Mines the Strait of Hormuz