http://www.concurringopinions.com/archives/2011/06/mining-for-bitcoins.html

and it's worth noting that the author of that post, Brian Frye, is a law
professor: 
http://law.hofstra.edu/directory/faculty/VisitingFaculty/visfac_frye.html

                --Steve Bellovin, https://www.cs.columbia.edu/~smb





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