Did Ukrainians Almost Take Over Bitcoin - Bloomberg - 14Jan2014

From: Stefan Lemieszewski ([email protected])
Date: Thu Jan 16 2014 - 05:19:08 EST


http://www.bloomberg.com/news/2014-01-14/did-ukrainians-almost-take-over-bitcoin-.html
Bloomberg
14Jan2014
Did Ukrainians Almost Take Over Bitcoin?

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CEX.io is a secretive company whose spokesman and chief information officer calls himself Jeffrey Smith. His LinkedIn profile lists him as a graduate of the International Christian University in Kiev, Ukraine, and a Ukrainian resident. Far from the center of the financial universe, Ukraine is a lawless place where world-class programmers often earn U.S. poverty level salaries and are therefore willing to take risks. Entrepreneurs in Hong Kong and China, among Bitcoin's biggest markets, are also building mining farms that could present a centralization threat. Theoretically, competition among such operations should make it difficult for any one to control Bitcoin emission, yet there is always a potential for collusion within an oligopoly, or a successful hacking attack on a few large organizations.
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