Chinese authorities have seized nearly 7000 crypto mining machines that are illegally consuming electric power, really hope this won't affect bitcoin in any way? And why are people doing this? Prove of staking is a better option and no one will ever know you are mining anything, i am not saying POW miners are bad but illegally? Come on! It's not worth taking such risk when they know they can be caught, they can earn same profits from Staking
Full news is right here
https://cointelegraph.com/news/chinese-authorities-confiscate-nearly-7-000-crypto-mining-machines
Full news is right here
https://cointelegraph.com/news/chinese-authorities-confiscate-nearly-7-000-crypto-mining-machines
in an industry where electricity literally converts into $$$ (btc mining), power cost is king.
You can pick up old hardware for literally free from so many places if you just come get it off their hands most the time haha
so if you can subsidize your power (or get it for free LEGALLY somehow like a utilities included contract or something), you can really have a good situation
but if you do it ILLEGALLY, well, then your screwed. they make too much noise to not be noticed EVENTUALLY
