“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:
Prison Phone Call Industry Will Fight New FCC Rules Lowering Inmate Rates
Second California county joins push to form state of ‘Jefferson’
How payday lenders pop back up even after states crack down
John Stossel: Junk Science Locks Up Innocent People
Bradley Manning’s trial is no more than a ‘judicial lynching’
Will Facebook Also Battle Fake News From CIA, Military-Industrial Complex?
Remember "8 Pressure Stock Pitches Stockbrokers at John Thomas Financial Might Use on You"?
Trezor to Ship Physical Bitcoin Wallets in January
Student Debt Bubble Officially Pops; 90+ Day Delinquency Rate Goes Parabolic
Peter Schiff on Bullion Banks, and the Hidden Trove of QE Money
The secret Swiss mountain bunker where millionaires stash their bitcoins
Pops In China’s Construction Bubble (But It’s Not Going To End)
Slave Dollars: State Guarantee Private Prisons 96% Occupancy
Unintended Consequence: Colorado’s Gun Control Law Kills Gun Buy-Back Program.
Nearly Half Of American Families Live On The Edge Of Financial Ruin