[]2016-12-14]Illegal Bitcoin mining farm cracked down by Chinese police

[hl5460]

According to a report by Xin’an Evening , a Bitcoin mining farm was cracked down by local police force in Bengbu, Anhui Province. The local electric power company lost around 1,000 RMB a day for the past 6 months.

http://news.8btc.com/illegal-bitcoin-mining-farm-cracked-down-by-chinese-police

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[Kakmakr]

" In fact, we never heard of anyone get caught for stealing power, which is considered state-owned property. " ^smile^ .... So the mining of bitcoins was not illegal, but the theft of electricity from the government is deemed illegal. We just have to make this clear, before some Coke induced journalist catch onto this story, and say that Bitcoin mining is made illegal in China. They are so hyped up and over eager, that they do not even read the content or do some basic research on their stories.

Summary : Bitcoin miner steals electricity

[chesatochi]

" In fact, we never heard of anyone get caught for stealing power, which is considered state-owned property. " ^smile^ .... So the mining of bitcoins was not illegal, but the theft of electricity from the government is deemed illegal. We just have to make this clear, before some Coke induced journalist catch onto this story, and say that Bitcoin mining is made illegal in China. They are so hyped up and over eager, that they do not even read the content or do some basic research on their stories.

Summary : Bitcoin miner steals electricity

If they want to make a profit in China, they should at least simply start an honest company for mining bitcoin. I prefer your headline instead of the one the journalists write the article, more precise in the content.

Don't steal the electricity, crime doesn't pay in the long term.

[hl5460]

" In fact, we never heard of anyone get caught for stealing power, which is considered state-owned property. " ^smile^ .... So the mining of bitcoins was not illegal, but the theft of electricity from the government is deemed illegal. We just have to make this clear, before some Coke induced journalist catch onto this story, and say that Bitcoin mining is made illegal in China. They are so hyped up and over eager, that they do not even read the content or do some basic research on their stories.

Summary : Bitcoin miner steals electricity

If they want to make a profit in China, they should at least simply start an honest company for mining bitcoin. I prefer your headline instead of the one the journalists write the article, more precise in the content.

Don't steal the electricity, crime doesn't pay in the long term.

Thanks for the advice.

[Gotottack]

I thought china was banning and making bitcoin mining illegal. whew. I thought it was the end of China's hording game.

So in general, they were just caught because they were stealing electricity from the electric company's grid. Makes me wonder, if those companies that host miners are also stealing electricity or are they really paying a low electricity fee.