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Why there is no such thing as a trustless financial system

Summary:
BTC-e may have been taken down by the Feds last week, but the setback hasn’t stopped the exchange’s mysterious owner/operators from allegedly distributing this message to their client base via a bitcoin forum (h/t Buttcoin):The text is in Russian, but the Google Translate version reads as follows (our emphasis):More detailed information about what happened to the BTC-e service.On July 25, 11:00 the FBI staff came to the data center where our server equipment was located and seized all equipment, the servers contained databases and purses of our service.Almost for 6 days we could not get from our hosting provider the sane information, what happened to our servers because of this information we publish only now.July 28, the domain was confiscated.At the moment, part of the service facility

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BTC-e may have been taken down by the Feds last week, but the setback hasn’t stopped the...

Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

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