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Are Bitcoin exchanges just Nigerian scam emails for gullible nerds?

04
Mar
2014

The next time the deposed prince of Nigeria has a massive inheritance to send you, will he offer to give it to you in Bitcoins? Cornell associate computer science professor Emin Gün Sirer has written a lengthy post that details why we shouldn’t believe bankrupt Bitcoin exchange Mt. Gox’s official explanations for how it lost nearly $500 million worth of Bitcoins. Essentially, Sirer just doesn’t think incompetence alone can’t explain such a stunning loss and alleges that there had to have been at least one person working within Mt. Gox who was either masterminding or aiding and abetting the theft. “Human history is full of people who were entrusted with valuables, who then absconded with them,” he writes. “Whenever anyone is in

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