Bitcoin Forum

https://www.newsbtc.com/2018/08/12/students-are-mining-bitcoin-in-university-dorms-campuses-are-alert/

Never though of this when I'm still in school but this is clearly profitable given the free source of electricity. I was so amazed by the creativity and intellect of those students taking advantage of the situation.  ;D

I don't have much knowledge about cyber security, is it really possible that the school's network will be compromised due to students mining activities using the schools internet connection? Will there be any legal charges if the students will get caught? Share me your thoughts.

they still have to buy a bitcoin miner, and as a student i wouldn't have wanted to pay $500-$3000 for a miner just because i could have had free electricity and take the risk of mining bitcoin and getting caught. and they are noisy which means you will be producing a lot of noise in the dorm :P


why would the "network" be compromised?!!!
it is against the rules of the school to abuse the electricity they are providing for you for free. an explicit rule may even exist in some places that prohibits students from using it for mining cryptocurrencies.

Whats creative about stealing electricity?

As per my opinion This creative student compromised following;
1   Diverted his attention from studies to other activities; there by loss to his studies.
2.  Sold his honesty; integrity ; in exchange of electricity.
3.  Caused loss to the institution which was providing all the facilities so that he can get good education.
4.  Compromised his own health; because as stated by him there was very much heat ; to save him from that heat he had to open all the windows ; run all
     the fans etc.
5.  Compromised his mental peace.  Because whenever someone steals something; his mental peace is gone because of the fear of being caught by the
     administration.

    Very costly affair.   Not advised to choose this way.

Sure the electricity is "free", but I'm pretty sure if the dorm authorities find about about this I'm pretty sure they're going to prohibit the residents on doing crypto mining. The "free" electricity is there for the basic necessities of the residents(shower heaters, air conditioners, phones, basic computer activities, etc).

I will not bring miner to school, its too heavy and produce a lot noises. Imagine you bring antminer s9 or GPU to school everyday ::)

In my old school, if you caught doing something illegal such as abusing electricity for mining(because it consume too much electricity), they will take your miner and will keep it for 1 month and in bad case it will stay on there until you graduate from that school, idk about charge a money to pay that electricity.

I think misuse in any case is still wrong, if indeed it is for something positive it might be better permits and in making mining more comfortable and safe

There are no such free electricity.
 
Really?  Stealing electricity is intellect and creativity?  If I am the principal of the school, I will sue them and make their parents pay for the electricity they steal.

Pretty much. There's probably some Terms of Service that the students agreed to though, that they are not allowed to do things similar to cryptocurrency mining that simply hogs the electricity. Or probably a maximum amount of electricity per month or something.

Well that's profitable, right? Just don't get caught, As I know Even faculty members like teachers are mining BTC, altcoins in secret on the school premises like stay-in employees.

It is unlikely that they are mining bitcoins due to the asics requirement. Most likely an altcoin like monero or something that can be gpu mined. I'm sure universities will change their policies though

"I was so amazed by the creativity and intellect of those students taking advantage of the situation." NO NO NO and NO. They are stealing electricity and abusing the schools internet, would you employ such creativity and intellect if you were a business owner? I can guess the answer to that.  ;)

GPU is just your graphic card inside your PC or laptop and it is different from a bitcoin ASIC miner which is a bigger thing with high sound. you can actually use your PC (maybe not laptop) with a strong gaming GPU to mine altcoins. that is still against the rules but at least it is much easier to conceal than an ASIC miner! and the usage can be similar to you just playing games with your PC.

Nope. Mining does not compromise local networks in any way. It doesn't typically use up much bandwidth either.


Only if the school loses a significant amount. Lawsuits take up a lot of money and resources, so I imagine they'll only go that route if you've racked up an electricity bill massive enough that a lawsuit could potentially be profitable for them. You could still be penalized in other ways though.


It's definitely tempting because it's essentially a promise of easy profits. Some universities even run their computer lab equipment 24/7 with proper air conditioning and all that. I would personally avoid it though, because school resources are not meant for that. Not worth the chance of getting kicked out (which is one of the lightest penalties you may receive) in my opinion. It gives crypto and its users a bad name too.

By mining bitcoin using free electricity it does not make the value of bitcoin soar. Bitcoin soared at a high price is one factor due to expensive electricity rates. If you expect to mine bitcoin for free, it will make bitcoin worthless and investors will definitely leave. This is in my opinion

I don't think students in schools should try to do this. It's obviously going to cost the school. Besides, mining in schools can make a lot of noise that can damage the school environment. A student should concentrate on his studies instead of doing other things during school.

I think if you mining in some pool with no secure system, your network can exposed to some hacking.
Always using a reliable mining pool when you mining because usually they have a high security system in their pool

BTC mining requires a lot of power, and BTC mining will produce a lot of noise!
Therefore, it is impossible to conduct mining in the school to "steal electricity". It is easy to be discovered!

I think that it would be great if it would be possible to use free electricity for btc mining. To my mind, it is better to use btc mining as a source of income than doing something else as this is the most profitable variant

if you get caught with your miner, the consequences will be rough.

This student is really smart using circumstances and opportunities lol ..
but if I'm still in high school I will do the same thing with those students, even I will work on the bounty while taking a break with a school computer :)

In reality tho they still have to meet roi with buying a decent miner anyway. As long as they were not setting up a full on farm they would get away with it. Atleast they would be contributing to the heating in the winter.

I don't think doing mining on your school dorm and the dorm authorities noticing a huge spike on electricity usage and possibly charging you for the excess electricity that you used is "smart".

I don't see how it became an advantage to the situation.

Bitcoin Mining is not always about FREE ELECTRICITY. There are lots of things to be consider and don't be just amazed that everyone can start mining bitcoin easily just because of free electricity. There are users in the past claiming they have a low electricity consumption, free electricity etc. but where they are today? Will not go through the details as I doubt OP will read all comments here.


No. I don't see how.


Not a legal charge but a student can be expelled from the school. Unauthorized use of any things is prohibited in any sector.

If I would have free electricity I think that for the first step I will sell it because I'm not having any investment capital to perform mining using that, but then if I would have some money I will definitely place some mining farms there.

Seems like almost nobody bothered to read the article...
There was no BTC mining, and even with GPU it seems like he had a hard life living there


An ASIC for bitcoin mining, an S9 or a T2 will make that room uninhabitable.
The avalon series runs a bit quieter but I would still not sleep in a room with a couple of those.

Anyhow, a quick glance at nicehash shows me that with one 1080TI you're going to make 30$ a month....about 4 hours of working at McDonalds.

I think a student should finish his studies well in school. If he uses the school's electricity to mine, he may waste the school's electricity.

It came straight from your words that stealing is being creative not mine. You focused more on the stealing of electricity. If your that smart you'd definitely agree with his resourcefulness. Those students are paying for their dorms and mining bitcoin is not like being taught in school that every teachers and personnel or even co students know what he is doing.
He must have been earning more than what you've assumed or wouldn't take those risks.  ;D
If you're telling me that mining with free electricity is not an advantage then you better go back to being a newbie in this forum. Sometimes being a high rank doesn't mean you know everything. We all know that there are lots of factors to consider when it comes to mining but after you told me that you don't see any advantage mining with free electricity made me think that you're a newbie. Power consumption is the number one factor that can cut off your profit when it comes to mining.
I'm reading every comments of my posts and don't worry you are not alone. High rank idiots are rampant in this forum pretending to know about everything. ;D
At least you are thinking outside the box. There are some narrow minded people who commented in here about "how stealing electricity being creative".lol and others even said that mining with free electricity is not an advantage. They all made me laugh. ;D
The good thing is, most of those teachers and dorm authorities doesn't know about mining.  ;D
We are not talking about morality in here. Intellect and creativity can be used in either good or bad motives. Sadly you are not the principal and I doubt the principal has any knowledge about mining so he won't get caught until he graduates.

You guys are only focusing on the stealing of electricity. Stop being so narrow minded and just agree how smart this kid is with the current technology just to get extra money for his expenses. ;D
I just don't know why these high rank idiots commenting on bringing Asics to mine in a dorm for they already know that its too noisy. This forum is really messed up with high rank idiots trying to act as if they know everything. Commenting into topics without using their brains.  Peace ya'll! ;D