[2017-2-2] Employee mined bitcoins on Federal Reserve servers for two years

[newsatbravenewcoin]

The Federal Reserve Bank is the Central Bank of the United States and issuer of the US Dollar. However, wielding the power to print just one currency may not have been enough for one former employee.

http://bravenewcoin.com/news/employee-mined-bitcoins-on-federal-reserve-servers-for-two-years/

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[darkangel11]

"The former Fed employee was recently sentenced to one year of probation and fined $5,000."

So, he mined bitcoin on FED servers for over 2 years and got $5000 fine? I don't know how much mining power that server had, but I'd expect that he mined much more than $5000, so the operation was definitely worth it! Even more so if he held the coins for over 2 years. The banking system is breaking from the inside haha  

[richardsNY]

"The former Fed employee was recently sentenced to one year of probation and fined $5,000."

So, he mined bitcoin on FED servers for over 2 years and got $5000 fine? I don't know how much mining power that server had, but I'd expect that he mined much more than $5000, so the operation was definitely worth it! Even more so if he held the coins for over 2 years. The banking system is breaking from the inside haha  

I assume it was just a regular server system, so I don't think he gained much from it, but since it's free for him personally, every small amount adds up to something decent a few years later. It's nothing new as students also have miners running on their university servers even though it's against the rules. It's basically free money for them as they don't have to invest or maintain hardware at their own cost. It lasts until they get caught.

[Papa Bear]

"The former Fed employee was recently sentenced to one year of probation and fined $5,000."

So, he mined bitcoin on FED servers for over 2 years and got $5000 fine? I don't know how much mining power that server had, but I'd expect that he mined much more than $5000, so the operation was definitely worth it! Even more so if he held the coins for over 2 years. The banking system is breaking from the inside haha  

I assume it was just a regular server system, so I don't think he gained much from it, but since it's free for him personally, every small amount adds up to something decent a few years later. It's nothing new as students also have miners running on their university servers even though it's against the rules. It's basically free money for them as they don't have to invest or maintain hardware at their own cost. It lasts until they get caught.

could she have predicted that in the future there will be the economic crisis which resulted in him dare commit an illegal act !

[richardsNY]

"The former Fed employee was recently sentenced to one year of probation and fined $5,000."

So, he mined bitcoin on FED servers for over 2 years and got $5000 fine? I don't know how much mining power that server had, but I'd expect that he mined much more than $5000, so the operation was definitely worth it! Even more so if he held the coins for over 2 years. The banking system is breaking from the inside haha  

I assume it was just a regular server system, so I don't think he gained much from it, but since it's free for him personally, every small amount adds up to something decent a few years later. It's nothing new as students also have miners running on their university servers even though it's against the rules. It's basically free money for them as they don't have to invest or maintain hardware at their own cost. It lasts until they get caught.

could she have predicted that in the future there will be the economic crisis which resulted in him dare commit an illegal act !

What has an economic crisis to do with what I have said? Nothing. People know that it's not allowed to use servers/systems for their own purposes, and especially not when it comes to the US central bank. It's asking for problems since security could have been at stake due to this employee. It's basically the same for students making use of their university systems, but a bit less severe if you ask me. Either way, it's stupidity.

[just_Alice]

Interesting article. I like the quote from another article on the same case, “While it makes you wonder what Berthaume knows about monetary policy that we don’t,”  meaning that the emplyee of the Federal Reserve probably trusts Bitcoin more than USD.

I think in two years he has mined at least 10 BTC so he'll be fine with that $5,000 fine.

[TraderTimm]

This is arguably the only time the FED actually was helping people, instead of stealing from them via inflationary erosion of buying power.

These bastards need to be audited, and I hope it happens in my lifetime.

[pixie85]

This person is my hero! Joking he isn't because he got caught. The idea was good though easy money and if he didn't overload the servers nobody got hurt.
I hope he doesn't get his coins confiscated