Bitcoin Forum
September 25, 2018, 06:26:19 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Chinese police raid miner factories in its oil capital city, 1k+ miners seized  (Read 7356 times)
arnbrd
Full Member
***
Offline Offline

Activity: 141
Merit: 100



View Profile
November 21, 2016, 07:46:56 PM
 #21

With electricity so low in some areas, I'd rather win pennies that will become gold some day that win a bit for a week and lose all my gear.

1537899979
Hero Member
*
Offline Offline

Posts: 1537899979

View Profile Personal Message (Offline)

Ignore
1537899979
Reply with quote  #2

1537899979
Report to moderator
1537899979
Hero Member
*
Offline Offline

Posts: 1537899979

View Profile Personal Message (Offline)

Ignore
1537899979
Reply with quote  #2

1537899979
Report to moderator
1537899979
Hero Member
*
Offline Offline

Posts: 1537899979

View Profile Personal Message (Offline)

Ignore
1537899979
Reply with quote  #2

1537899979
Report to moderator
Make a difference with your Ether.
Donate Ether for the greater good.
SPRING.WETRUST.IO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537899979
Hero Member
*
Offline Offline

Posts: 1537899979

View Profile Personal Message (Offline)

Ignore
1537899979
Reply with quote  #2

1537899979
Report to moderator
JasonXG
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500


Betcoin.ag


View Profile
November 28, 2016, 12:58:37 PM
 #22

Even communist scum are not that stupid to take away miners for no reason . As others have said it must have been about electricity theft which makes a lot of sense. Whatever mining company that was must have made a killing not paying their electricity bills but now I guess they facing charges that will kill all their profits because of the stack of fines they must pay. So at the end of the day it really was not worth it.

chesatochi
Sr. Member
****
Offline Offline

Activity: 602
Merit: 252



View Profile WWW
December 02, 2016, 11:27:21 AM
 #23

I think if you play by the rules even in China, you can make a decent profit from mining and have a legal business. Why steal electricity! Now they lose all the equipment and they will have a criminal record. Also, they surely pay a fee and they probably going to jail.

Pigzbe

⇐ ● Pigzbe is a piggy-wallet powered by a family-friendly cryptocurrency ICO LIVE SOON ● ⇒

○ ○ ○ ➀ WEBSITE WHITEPAPER  TELEGRAM TWITTER FACEBOOK ○ ○ ○
Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 02, 2016, 03:09:22 PM
 #24

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
philipma1957
Legendary
*
Offline Offline

Activity: 2226
Merit: 1339


Avalon 841 rocks


View Profile
December 04, 2016, 07:43:40 AM
 #25

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?

Be careful  the police could be reading Grin

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
eaLiTy
Hero Member
*****
Offline Offline

Activity: 868
Merit: 504


Anonymous bitcoin mixer


View Profile
December 04, 2016, 08:44:29 AM
 #26

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
yes these sort of thieves will be happy getting the second hand hardware but i wish all the thieves who stole electricity gets the real taste of prison and i think china does have a harsh punishment for these sort of things














 

 

█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
BitBlender 

 













 















 












 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
Searing
Legendary
*
Offline Offline

Activity: 1848
Merit: 1057


Clueless!


View Profile
December 04, 2016, 08:49:05 AM
 #27

Obviously they did think they will get away with it and for a while it seemed as if they actually got away with it.

catch is if they had it go to a throw away shed/building and somehow gotten Inet access...and had it mine remote to a BTC address
..then when they eventually got caught..they could walk away..hoping they got away with it long enough to make sense with likely old ASIC machines.

then again in China they probably have 'cameras' everyplace so putting the stuff in would have been iffy

anyway just a thought...if you are gonna try to be a criminal mastermind..I mean work out a criminal mastermind level of planning Smiley















 

 

█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
BitBlender 

 













 















 












 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
Barbut
Hero Member
*****
Offline Offline

Activity: 952
Merit: 501


🔷 BLINKED 🔷


View Profile
December 15, 2016, 12:40:03 PM
 #28

I wonder how the police would dispose of those seized hardware. Are they mining themselves? Or were they destroyed or auctioned to the mining community that uses legal electricity - which I doubt as it would be unprofitable.

I would think they would destroy it. As it is older gear.

I would love for this to happen more often.

But there just may not be that much really old gear.

In my country all seized things are going to auction. Maybe Chinese have something similar, of course no right away. Process first to finish, and if there were criminal activity all things on the farm will he seized and sold on auction, except drugs and weapons.
Cause of this is just an old gear maybe they will destroy it if there is no one interested for buying them.

Oilacris
Hero Member
*****
Offline Offline

Activity: 966
Merit: 508



View Profile
December 17, 2016, 09:36:00 AM
 #29

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
yes these sort of thieves will be happy getting the second hand hardware but i wish all the thieves who stole electricity gets the real taste of prison and i think china does have a harsh punishment for these sort of things
Stealing electricity is a serious crime and for sure those who steal power will end up on jail and I assume that those miners that have been confiscated will be stored or they will use it again by the government.Im not sure but theres a possibility.If that situation happens to my country they will only charge on a small bail and could get out easily with the crime or violation they commited.


██████████████████████████████████████████████████
███```````█████````````█████````````██████████████
```````````██``````````███``````````████████████
```````````██``````````███``````````████████████
███```````██████``````███████``````███████████████
██████████████████████████████████████████████████
██````````█████````````████`````````█████████████
```````````██``````````███``````````████████████
```````````██``````````███``````````████████████
███```````██████``````███████``````███████████████
██████████████████████████████████████████████████
███```````███████████████████████████████```````██
```````````███████████████████████████``````````
```````````████████████████████████████`````````
███```````███████████████████████████████```````██
██████████████████████████████████████████████████
█████████████````````█████````````█████```````███
█████████████``````````███``````````███`````````
█████████████``````````███``````````███`````````
████████████████``````███████``````███████``````██
█████████████████████████████████████████████████
vgvv
SECURIX
|
|
stomachgrowls
Hero Member
*****
Offline Offline

Activity: 798
Merit: 516


Crypto-Games.net: Multiple coins, multiple games


View Profile
December 17, 2016, 02:36:42 PM
 #30

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
yes these sort of thieves will be happy getting the second hand hardware but i wish all the thieves who stole electricity gets the real taste of prison and i think china does have a harsh punishment for these sort of things
Stealing electricity is a serious crime and for sure those who steal power will end up on jail and I assume that those miners that have been confiscated will be stored or they will use it again by the government.Im not sure but theres a possibility.If that situation happens to my country they will only charge on a small bail and could get out easily with the crime or violation they commited.
Its really a serious crim and as i saw on the pictures those are old miners but still a good way to make profits since they have free source of electricity but their happy mining has ended since they are being busted by government.As mentioned above those second thieves will be happy  Cheesy


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
Factmine
Sr. Member
****
Offline Offline

Activity: 313
Merit: 250


View Profile
December 17, 2016, 06:47:33 PM
 #31

This is probably why there has been quite a lot of bitcoin mines in china. Especially those miner hosters in China, where a bitcoiner could send his miner and the operator will just charge a fee for running the miner. I think the reason why there has been a lot of those bitcoin miner hosts is that in china it is quite easy to steal electricity. Maybe we should check out some of the hosts offering such service.

To bitcoin or not to bitcoin, that is now the question.
shinratensei_
Legendary
*
Offline Offline

Activity: 1064
Merit: 1004



View Profile
December 18, 2016, 04:32:27 AM
 #32

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
yes these sort of thieves will be happy getting the second hand hardware but i wish all the thieves who stole electricity gets the real taste of prison and i think china does have a harsh punishment for these sort of things
Stealing electricity is a serious crime and for sure those who steal power will end up on jail and I assume that those miners that have been confiscated will be stored or they will use it again by the government.Im not sure but theres a possibility.If that situation happens to my country they will only charge on a small bail and could get out easily with the crime or violation they commited.
Its really a serious crim and as i saw on the pictures those are old miners but still a good way to make profits since they have free source of electricity but their happy mining has ended since they are being busted by government.As mentioned above those second thieves will be happy  Cheesy

I may think if they use the old miner because it will make the room wasn't over heat. With the lighter electricity comparing with the new asic and totally it was being worth for running the mining farm for silently. 
So this has applied in the silent mining at the apartment.  Roll Eyes


_____________██████████████████▄
_________██████████████████████████▄
______███████████__`_____`_███████████▄
____████████3_____▄███▀__–__`__████████▄
___███████___–▄█████▀_████████–___███████
__███████___████████__███████████8___█████▄
_██████___████████▀___████████████–_`██████
v█████___█████████______$██████████___██████
o█████___█████████–_________████████__██████
o█████___█████████____________██████__██████
█████–___███████______███████__███___██████
_–██████__–█████_–██████████████3___██████
__q██████___–███████████████████___o███████
____███████____–█████████████____–███████
_____–███████ –_______________v████████
________█████████████████████████████
__________q▀█████████████████████▀
ffff
LIPCHAIN
|
LIPCHAIN WILL UNITE THE GLOBAL SURFER’S COMMUNITY
●   ANN THREAD   ●   WHITEPAPER   ●
|
Gotottack
Hero Member
*****
Offline Offline

Activity: 840
Merit: 506


View Profile
December 18, 2016, 04:37:27 AM
 #33

This is probably why there has been quite a lot of bitcoin mines in china. Especially those miner hosters in China, where a bitcoiner could send his miner and the operator will just charge a fee for running the miner. I think the reason why there has been a lot of those bitcoin miner hosts is that in china it is quite easy to steal electricity. Maybe we should check out some of the hosts offering such service.

This is really incredible news. So I think people should really investigate these chinese operators of bitcoin miners. They might all be stealing electricity to lower cost by a huge margin. I would like other people who try to invest in these mining operators in china to think twice. I saw one thread on the services section that a china man was offering bitcoin mining facilities where you will send over you miner to mine there. If his mining operation was also illegal and then your miners will also be confiscated by their government. Poof, no more miner and bye investments.
Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 18, 2016, 07:45:33 AM
 #34

This is probably why there has been quite a lot of bitcoin mines in china. Especially those miner hosters in China, where a bitcoiner could send his miner and the operator will just charge a fee for running the miner. I think the reason why there has been a lot of those bitcoin miner hosts is that in china it is quite easy to steal electricity. Maybe we should check out some of the hosts offering such service.

This is really incredible news. So I think people should really investigate these chinese operators of bitcoin miners. They might all be stealing electricity to lower cost by a huge margin. I would like other people who try to invest in these mining operators in china to think twice. I saw one thread on the services section that a china man was offering bitcoin mining facilities where you will send over you miner to mine there. If his mining operation was also illegal and then your miners will also be confiscated by their government. Poof, no more miner and bye investments.

I assume you were referring to me. No, the SinoHash Penthouse is literally right next door to the hydro power station; it was built on top of a two storey building shared by their staff.
Most of these illegal operations are near oil fields in Northeastern part of the country. They are usually not staffed - just a bunch of machines humming away, unattended.

Not in Sichuan where I am based in.
Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 18, 2016, 07:47:10 AM
 #35

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
yes these sort of thieves will be happy getting the second hand hardware but i wish all the thieves who stole electricity gets the real taste of prison and i think china does have a harsh punishment for these sort of things
Stealing electricity is a serious crime and for sure those who steal power will end up on jail and I assume that those miners that have been confiscated will be stored or they will use it again by the government.Im not sure but theres a possibility.If that situation happens to my country they will only charge on a small bail and could get out easily with the crime or violation they commited.
Its really a serious crim and as i saw on the pictures those are old miners but still a good way to make profits since they have free source of electricity but their happy mining has ended since they are being busted by government.As mentioned above those second thieves will be happy  Cheesy

I may think if they use the old miner because it will make the room wasn't over heat. With the lighter electricity comparing with the new asic and totally it was being worth for running the mining farm for silently. 
So this has applied in the silent mining at the apartment.  Roll Eyes

They use cheaper older gear - I heard that the reason Avalon A6s maintain strong prices is because they are so reliable and require little human handling thus are highly popular among these guys
Betwrong
Legendary
*
Offline Offline

Activity: 1232
Merit: 1027



View Profile
December 18, 2016, 11:06:40 AM
 #36

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?

Be careful  the police could be reading Grin

haha, right. Stealing is bad no matter how good you are in justifying it. They should have not steal and they'd be fine I guess, electricity prices are low in China. I don't think this incident will affect the attitude towards Bitcoin in general in China and I think the country will remain staying among the top miners in the world.

.FORTUNE.JACK.
      ▄▄███████▄▄
   ▄████▀▀ ▄ ██████▄
  ████ ▄▄███ ████████
 █████▌▐███▌ ▀▄ ▀█████
███████▄██▀▀▀▀▄████████
█████▀▄▄▄▄█████████████
████▄▄▄▄ █████████████
 ██████▌ ███▀████████
  ███████▄▀▄████████
   ▀█████▀▀███████▀
      ▀▀██████▀▀
         
         █
...FortuneJack.com                                             
...THE BIGGEST BITCOIN GAMBLING SITE
       ▄▄█████████▄▄
    ▄█████████████████▄
  ▄█████████████████████▄
 ▄██
█████████▀███████████▄
██████████▀   ▀██████████
█████████▀       ▀█████████
████████           ████████
████████▄   ▄ ▄   ▄████████
██████████▀   ▀██████████
 ▀██
█████████████████████▀
  ▀██
███████████████████▀
    ▀█████████████████▀
       ▀▀█████████▀▀
#JACKMATE
WIN 1 BTC
▄█████████████████████████▄
███████████████████████████
███████████████████████████
██████████▀█████▀██████████
███████▀░░▀░░░░░▀░░▀███████
██████▌░░░░░░░░░░░░░▐██████
██████░░░░██░░░██░░░░██████
█████▌░░░░▀▀░░░▀▀░░░░▐█████
██████▄░░▄▄▄░░░▄▄▄░░▄██████
████████▄▄███████▄▄████████

███████████████████████████
███████████████████████████
▀█████████████████████████▀
Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 18, 2016, 11:18:11 AM
 #37

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?

Be careful  the police could be reading Grin

haha, right. Stealing is bad no matter how good you are in justifying it. They should have not steal and they'd be fine I guess, electricity prices are low in China. I don't think this incident will affect the attitude towards Bitcoin in general in China and I think the country will remain staying among the top miners in the world.

Sure I don't think any culture condones theft, yet condemnation and publishment notwithstanding, it remains and for a miner, a factor to consider when estimating value of hardware - for instance, lots of thieves favored avalon miners cuz there are low-maintenance compared with antminers.
shinratensei_
Legendary
*
Offline Offline

Activity: 1064
Merit: 1004



View Profile
December 19, 2016, 01:30:31 AM
 #38

I am not a sympathizer, but I think they serve some utility.

At least when some hardware can no longer be profitable for people like me, I have the confidence that someone out there can still squeeze some satoshies out of it thus they won't be worthless junk.

I mean the existence of these electricity thieves contributed to the value of secondhand hardware, right?
yes these sort of thieves will be happy getting the second hand hardware but i wish all the thieves who stole electricity gets the real taste of prison and i think china does have a harsh punishment for these sort of things
Stealing electricity is a serious crime and for sure those who steal power will end up on jail and I assume that those miners that have been confiscated will be stored or they will use it again by the government.Im not sure but theres a possibility.If that situation happens to my country they will only charge on a small bail and could get out easily with the crime or violation they commited.
Its really a serious crim and as i saw on the pictures those are old miners but still a good way to make profits since they have free source of electricity but their happy mining has ended since they are being busted by government.As mentioned above those second thieves will be happy  Cheesy

I may think if they use the old miner because it will make the room wasn't over heat. With the lighter electricity comparing with the new asic and totally it was being worth for running the mining farm for silently. 
So this has applied in the silent mining at the apartment.  Roll Eyes

They use cheaper older gear - I heard that the reason Avalon A6s maintain strong prices is because they are so reliable and require little human handling thus are highly popular among these guys
Cheap, effective and efficiency. The complete words.


_____________██████████████████▄
_________██████████████████████████▄
______███████████__`_____`_███████████▄
____████████3_____▄███▀__–__`__████████▄
___███████___–▄█████▀_████████–___███████
__███████___████████__███████████8___█████▄
_██████___████████▀___████████████–_`██████
v█████___█████████______$██████████___██████
o█████___█████████–_________████████__██████
o█████___█████████____________██████__██████
█████–___███████______███████__███___██████
_–██████__–█████_–██████████████3___██████
__q██████___–███████████████████___o███████
____███████____–█████████████____–███████
_____–███████ –_______________v████████
________█████████████████████████████
__________q▀█████████████████████▀
ffff
LIPCHAIN
|
LIPCHAIN WILL UNITE THE GLOBAL SURFER’S COMMUNITY
●   ANN THREAD   ●   WHITEPAPER   ●
|
takagari
Legendary
*
Offline Offline

Activity: 966
Merit: 1000


View Profile WWW
December 19, 2016, 02:08:29 AM
 #39

Any shady cloud mining sites go down recently? lol
carlfebz2
Hero Member
*****
Offline Offline

Activity: 882
Merit: 515


View Profile
December 19, 2016, 09:25:47 AM
 #40

Any shady cloud mining sites go down recently? lol
Whats the connection of mining sites related into this news? Maybe you are referring that they are running a cloud mining?I don't think so and they don't really matter to build one and as we can see they are using old miners and as mentioned above its more sufficient in electricity since they are using old miners but they will still be facing violations on stealing electricity.
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!