Is it safe to mine cryptocurrency in your country?

[cryptolottocc]

Hello guys,

Is it safe to mine cryptocurrency in your country?

For example, in some eastern Europe countries, this is literally dangerous. In these countries, special forces (something similar to CIA in the US) monitor power consumption using special tools. Then they determine the location of such mining farm and in the end, they steal all gear using government pressure and threats that they will initiate a fabricated criminal case against owners of such farms.

[EthanB]

For example, in some eastern Europe countries, this is literally dangerous. In these countries, special forces (something similar to CIA in the US) monitor power consumption using special tools. Then they determine the location of such mining farm and in the end, they steal all gear using government pressure and threats that they will initiate a fabricated criminal case against owners of such farms.

I've never heard of such a thing. Where are your sources for this claim? You are saying that in European countries they are seizing legally obtained computer hardware and forming a criminal case again the operators of this computer hardware simply for using too much electricity. This sounds like nonsense to me, unless there is some really strange legislation that I'm unaware of. Monitoring power consumption is done by almost every government with the capability to do so, but normally it is only investigated if they believe you are involved in drugs or weaponizing something that shouldn't be. I have never once heard of a European government cracking down on owning computers, ASICs or graphics cards.

[cryptolottocc]

This sounds like nonsense to me, unless there is some really strange legislation that I'm unaware of. Monitoring power consumption is done by almost every government with the capability to do so, but normally it is only investigated if they believe you are involved in drugs or weaponizing something that shouldn't be.

This is done not because they want to limit the power consumption so all people obey the law, no. This is because they are corrupted people and want to steal bussiness. The point is in this: just imagine Somali and pirates. And in my post I was talking about eastern Europe, not Europe. These are two different worlds. Eastern Europe is poor and very corrupted.

I read about it in this article: http://forklog.net/ukraines-law-enforcement-launch-raids-on-local-miners/

So, is it safe in your country to mine crypto?

[dhouse]

*~i'm happily hashing away
here in the good ol' US of A~*

 

[gameboy366]

I read a news few month ago where 16 antminer s9 were seized in Nepal. The man was arrested. He was mining for 6 months. I wonder what happened to those machines...

[Simon Eaton]

The united kingdom is perfectly fine when it comes to mining cryptocurrency. I would add that the electricity cost are extremely high over here so its not as profitable as some places. Decently cold also to regulate temperature.

[cryptolottocc]

I read a news few month ago where 16 antminer s9 were seized in Nepal. The man was arrested. He was mining for 6 months. I wonder what happened to those machines...

I tell you what. Now these machines are mining for their Sheriff.

There is a new sheriff in town 🔫💰🎖

[tomwrx]

This sounds like nonsense to me, unless there is some really strange legislation that I'm unaware of. Monitoring power consumption is done by almost every government with the capability to do so, but normally it is only investigated if they believe you are involved in drugs or weaponizing something that shouldn't be.

This is done not because they want to limit the power consumption so all people obey the law, no. This is because they are corrupted people and want to steal bussiness. The point is in this: just imagine Somali and pirates. And in my post I was talking about eastern Europe, not Europe. These are two different worlds. Eastern Europe is poor and very corrupted.

I read about it in this article: http://forklog.net/ukraines-law-enforcement-launch-raids-on-local-miners/

So, is it safe in your country to mine crypto?

In a European Union there is no problem to mine crypto. No one is monitoring you, unless you brake a law or trying to find some holes in a law system. If you are talking about Belarus, Ukraine or Russia. It's different story because of coruption and other things surrounding it.

[wheelz1200]

In the US no issues its not illegal to mine but i guess in other little corrupt countries they can seize the equipment.  If you were operating some kind of illegal enterprise and the whole building gets seized i can maybe see that but for the basic miner it should be of no worry.

[sindikat]

Hello guys,

Is it safe to mine cryptocurrency in your country?

For example, in some eastern Europe countries, this is literally dangerous. In these countries, special forces (something similar to CIA in the US) monitor power consumption using special tools. Then they determine the location of such mining farm and in the end, they steal all gear using government pressure and threats that they will initiate a fabricated criminal case against owners of such farms.

Such actions are really common practice in Ukraine and Russia. But you can fight it. Draw up a contract for the rental of equipment with a foreign person and register a joint venture. You can use the e-citizenship of Estonia. This will not protect you from attacks, but can help to resolve the issue of returning the equipment faster.

[crypto_jenny]

In the US no issues its not illegal to mine but i guess in other little corrupt countries they can seize the equipment.  If you were operating some kind of illegal enterprise and the whole building gets seized i can maybe see that but for the basic miner it should be of no worry.

Imagine if you had been a head of a hydropower plant somewhere in Venezuela, where they have hundreds of rivers, you would have become the richest man on earth for sure. And no-one ever would have been able to detect you.

[leonix007]

Imagine if you had been a head of a hydropower plant somewhere in Venezuela, where they have hundreds of rivers,

Lol, you're already a rich man if you have this, and may not need to be a miner

 

you would have become the richest man on earth for sure. And no-one ever would have been able to detect you.

oh really, when you're already the richest man don't you think they ain't gonna notice it?

[NobodyIsHome]

In the US, nobody cares if your power consumption takes a spike, you just pay more for it.  If the utility gets a sense that you are exceeding safety limits, they will respond.  Local government officials may step in if they feel that the power is being used for illegal activity, such as, drug production.

[EthanB]

This is done not because they want to limit the power consumption so all people obey the law, no. This is because they are corrupted people and want to steal bussiness. The point is in this: just imagine Somali and pirates. And in my post I was talking about eastern Europe, not Europe.

So, is it safe in your country to mine crypto?

Why would the governments in these places be more interested in stealing bitcoin mining hardware than they are on taxing the earnings? It would just seem more practical for them to allow their people to earn money, rather than taking it out from underneath them. It would seem to make more sense to seize these items at the border with customs or some enforcement agency. There are just too many things that don't add up to me.

I didn't mean to avoid the question, but yes in my country it is safe to mine crypto. America does not bother you for this type of thing in any significant or limiting way.

In the US, nobody cares if your power consumption takes a spike, you just pay more for it.  
If the utility gets a sense that you are exceeding safety limits, they will respond.  Local government officials may step in if they feel that the power is being used for illegal activity, such as, drug production.

They care somewhat, because for some reason high power consumption is probable cause and gives them a reason to get a warrant for your house. It seems as though high power-consumption somehow removes your right to privacy. I've known a few people to have their homes searched for abnormal electricity usage, because they were assumed to be running a drug operation. Seems shameful that they care enough to break down doors and find out what is going on without any proof of wrongdoing.

[.F.]

This is done not because they want to limit the power consumption so all people obey the law, no. This is because they are corrupted people and want to steal bussiness. The point is in this: just imagine Somali and pirates. And in my post I was talking about eastern Europe, not Europe.

So, is it safe in your country to mine crypto?

Why would the governments in these places be more interested in stealing bitcoin mining hardware than they are on taxing the earnings? It would just seem more practical for them to allow their people to earn money, rather than taking it out from underneath them. It would seem to make more sense to seize these items at the border with customs or some enforcement agency. There are just too many things that don't add up to me.

I didn't mean to avoid the question, but yes in my country it is safe to mine crypto. America does not bother you for this type of thing in any significant or limiting way.

In the US, nobody cares if your power consumption takes a spike, you just pay more for it.  
If the utility gets a sense that you are exceeding safety limits, they will respond.  Local government officials may step in if they feel that the power is being used for illegal activity, such as, drug production.

They care somewhat, because for some reason high power consumption is probable cause and gives them a reason to get a warrant for your house. It seems as though high power-consumption somehow removes your right to privacy. I've known a few people to have their homes searched for abnormal electricity usage, because they were assumed to be running a drug operation. Seems shameful that they care enough to break down doors and find out what is going on without any proof of wrongdoing.

Not illegal here in the US but has anyone noticed that people think this is some 'breaking bad' operation when folks like the electrician or HVAC people come? Mine are very curious and nosy....

[FarmingCoins]

Hello guys,

Is it safe to mine cryptocurrency in your country?

For example, in some eastern Europe countries, this is literally dangerous. In these countries, special forces (something similar to CIA in the US) monitor power consumption using special tools. Then they determine the location of such mining farm and in the end, they steal all gear using government pressure and threats that they will initiate a fabricated criminal case against owners of such farms.

Safe yes.. expensive alot... there's is no return guarantee as long as you have to pay for electricity.

[Bulitt]

Its safe here, infact in Canada I could even write off  a portion of the expenses for my rig on taxes if I wanted to.

[socks435]

As of now here in my country mining cryptocurrency still safe never experience from government to check our power consumption.
even we don't have any legal business permit we can mine coins annonymously.
No government are still benefited to what we mined.
Just make sure you are doing right so that you are far for any dangerous can be happen in your life.

[cryptolottocc]

Why would the governments in these places be more interested in stealing bitcoin mining hardware than they are on taxing the earnings?

They are stealing it for themselves, for their own personal needs and use. And taxes go to the country's budget.

It would seem to make more sense to seize these items at the border with customs or some enforcement agency.

You can't do that because the border is too big, there are hundreds of smugglers.

Don't try to understand it, it's a completely different world.

[toptek]

This is done not because they want to limit the power consumption so all people obey the law, no. This is because they are corrupted people and want to steal bussiness. The point is in this: just imagine Somali and pirates. And in my post I was talking about eastern Europe, not Europe.

So, is it safe in your country to mine crypto?

Why would the governments in these places be more interested in stealing bitcoin mining hardware than they are on taxing the earnings? It would just seem more practical for them to allow their people to earn money, rather than taking it out from underneath them. It would seem to make more sense to seize these items at the border with customs or some enforcement agency. There are just too many things that don't add up to me.

I didn't mean to avoid the question, but yes in my country it is safe to mine crypto. America does not bother you for this type of thing in any significant or limiting way.

In the US, nobody cares if your power consumption takes a spike, you just pay more for it.  
If the utility gets a sense that you are exceeding safety limits, they will respond.  Local government officials may step in if they feel that the power is being used for illegal activity, such as, drug production.

They care somewhat, because for some reason high power consumption is probable cause and gives them a reason to get a warrant for your house. It seems as though high power-consumption somehow removes your right to privacy. I've known a few people to have their homes searched for abnormal electricity usage, because they were assumed to be running a drug operation. Seems shameful that they care enough to break down doors and find out what is going on without any proof of wrongdoing.

Not illegal here in the US but has anyone noticed that people think this is some 'breaking bad' operation when folks like the electrician or HVAC people come? Mine are very curious and nosy....

only ones don't know what it is other wise most electrician or HVAC people that have come to my house don't care in fact the nosy ones i get are more like how can do that then wtf is that you might be breaking some rule with the power company, i only had some one over the Phone tell me that shit . my electrician is cool an tells me what jerks the power company can be.