Topic: China: Man Sentenced to Prison for Stealing Railway Electricity to Mine Bitcoin - page 3. (Read 511 times)
October 10, 2018, 04:32:39 PM
This guy really crossed the line in here. Bitcoin is banned in China yet he still has the guts to mine bitcoin using stolen power. He should've used his resourcefulness in another way, not in an illegal way. Worst thing is that those BTCs that he mined won't even suffice in paying his bail. Sometimes we really need to think before we do stupid decisions for it may haunt us down and put us behind bars.
October 10, 2018, 03:29:04 PM
China has already banned cryptocurrency. So, this is just clearly a stupid thing to do. This man brought this on him all by himself.
October 10, 2018, 03:55:50 PM
3.5 years is excessive though jesus. THREE YEARS just for stealing electricity? Man I am glad I don't live in China, sounds like a horrible place to live.
I think a more reasonable sentence is three months, or possibly even just long community service, what a joke.
I think a more reasonable sentence is three months, or possibly even just long community service, what a joke.
October 10, 2018, 03:28:14 PM
This is just sheer stupidity. China is by no means a crypto friendly country due to goverment stance. It doen't make sense. Good luck with the sentence.
October 10, 2018, 03:32:53 PM
He mined 3.2BTC worth 120 000 yuan using electricity worth 104 000 yuan as The Paper reports.
I think this is common practice in many countries, I've used to live a man who was stealing power for his household use, wires were visible in the corridor but no one cared
We can only wonder what's happening in datacenters, powerplants etc. when there is such simple way to convert electricity and computing power into money.
I think this is common practice in many countries, I've used to live a man who was stealing power for his household use, wires were visible in the corridor but no one cared
We can only wonder what's happening in datacenters, powerplants etc. when there is such simple way to convert electricity and computing power into money. October 10, 2018, 03:27:11 PM
China banned crypto a while back. This man should've known better not to mine crypto let alone by using railway current. This kind of behaviour is not encouraged.
October 10, 2018, 03:26:16 PM
Many people started mining from the crypto boom using unfair means. Various softwares were also rigged and used secret mining exploits using other people's resources.
October 09, 2018, 08:11:08 AM
Quote
Although the Chinese regulatory bodies have maintained their distance from cryptocurrencies, it has not deterred the people in the country from partaking in the promising crypto mining industry – as a Chinese man was recently sentenced to 3.5 years in prison for stealing power from a train station to mine Bitcoin (BTC). The incident was reported by the local media outlet The Paper, on October 8, 2018.
https://btcmanager.com/chinese-man-prison-for-stealing-electricity-mine-bitcoin/
Oh well, he took the risk and now he is in jail. I wonder how much he earn mining bitcoin
because it means that he knows what his doing is wrong but I guess he see the $$$ that's why its worth a try. hehehe. Jump to: