Chinese Authorities Confiscating miners

[cutesgirl]

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

unbelievable with China project mining where they have big mining company in their country where can earn much bitcoin every time, after China banned bitcoin many mining project company have been failed because China have stop running for every bitcoin mining company in their country right now.

[andika2018]

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

Any government will confiscate mining equipment if the electricity used is stolen electricity. I think the Chinese Government is acting appropriately and rightfully so because it is to protect other industries and China has never banned crypto mining activities.

[No One]

China crack downing on cryptocurrency is not a new thing. What is interesting is that cryptocurrency has not been affected by such act of China. And Chinese authorities are realizing the importance of cryptocurrency as a result. So I think they are internally discussing the ways to regulate cryptocurrency. Sooner or later, they will accept cryptocurrency.

[Pamadar]

China crack downing on cryptocurrency is not a new thing. What is interesting is that cryptocurrency has not been affected by such act of China. And Chinese authorities are realizing the importance of cryptocurrency as a result. So I think they are internally discussing the ways to regulate cryptocurrency. Sooner or later, they will accept cryptocurrency.

They are realizing the potential benefits of this system, though the topic from this thread is not about chasing the mining itself but the illegality
of consuming electricity without paying for it. it's just dragging the name of mining since it's  a good topic to read and with a lots of interested
people around this industry many will catch up some attentions and gain traffics.

[Xcode7]

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

What I caught from the article was the number of greedy people who violated state rules, I think it's legitimate because it's clear they are illegal. But if it has an impact on the miners who follow the rules, I think we also have to take action because it is detrimental, such as the price of bitcoin falling because of irresponsible parties, I think we all have to play honestly and don't need to overdo it in any case and consider repeat whether what we are doing is good or bad for the other party.