"Sirer's thesis is that the entire bitcoin system is build on a foundation of sand -- bad technologies rife with technical problems and vulnerable to attacks "from insiders and out."
"What Nigerian scams are to your grandfather, Bitcoin exchanges are to the 20-30 semi-tech-savvy libertarian demographic," he warns."
http://www.latimes.com/business/hiltzik/la-fi-mh-the-satoshi-chase-20140307,0,7591905.story#ixzz2w7dRXRvv
bitcoin, page-113
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