I'm not to concerned with the legality of, as it is legit (depending on what you do with the earnings).
I just don't want to draw attention by the tax man or the authorities. Trying to get a idea of what other residential hobby miners are using in terms of KW, and if they had any issues/annoyances come up. I have read of stories of grow ops being identified by high electricity usage, but i guess that would probably not be enough for a search warrant.
Topic: ASIC Power Usage (Read 315 times)
So I just started ASIC mining in my basement; All electrical done to code and I do plan on having it all inspected . My miners are pulling about 5kw in total 24/7. My typical power usage will essentially quadruple or more next month. Has this caused any issues for people with the utility or authorities? I don't wan a bunch of cops breaking down my door for suspected Grow-Op. Has the utility or authorities ever approached anybody about their power usage in a residence? I would consider myself as a hobby miner, and not a commercial operation.
Making payment with bitcoin and buying real product is the illegal work bro. If you mine the bitcoin and convert it as fiat with the international digital currencies exchange like LBC and all legit option to earn the bitcoin and converting it. For example, now most of the exchanges are asking for the ID proof before you open the trade. So your all transaction will be recorded when moving with the banking transaction when you convert it to fiat cash.
Please don't fear you can really go with the mining process and it will best platform to making bitcoins or other cryptos.
I'm not sure where you live or how your utility company deals with surges in usage. As long as you aren't selling drugs, and don't have a bunch if shady people in and out of the house at all hours if the day and night you will be fine.
Even if they did show up to your place, all you have to do is show them you are running a bunch of computer equipment
Even if they did show up to your place, all you have to do is show them you are running a bunch of computer equipment
So I just started ASIC mining in my basement; All electrical done to code and I do plan on having it all inspected . My miners are pulling about 5kw in total 24/7. My typical power usage will essentially quadruple or more next month. Has this caused any issues for people with the utility or authorities? I don't wan a bunch of cops breaking down my door for suspected Grow-Op. Has the utility or authorities ever approached anybody about their power usage in a residence? I would consider myself as a hobby miner, and not a commercial operation.
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