61-year Old Chinese Grandma Convicted For Stealing Electricity To Mine Bitcoin

[creeps]

61 is not that old its like my father is now and he has also a bitcoin wallet.
but he is far away from mining.


regards

Depends on their way of living, some of them already having a problem with their self. Anyway, stealing electricity is illegal, and that’s why she was convicted. This can affect for the decision of China to totally ban cryptomining, if we really want to have a technology like bitcoin and do cryptomining then we should do it in a good and legal way. She’s old already, i hope she can still have a life outside the jail.

[cryptjh]

Stealing electricity just make the cost of electric more expensive for everyone else that uses that power provider, so good it got stopped, but sending her to prison sounds like a hard punishment.
 But it's great to read that she knew how to set up a minging farm to secure the bitcoin network. Many people 20 or even 40 years younger than her has no idea about how to set up a wallet and use bitcoins.

[akamit]

I am not convinced that an old grandma understands how bitcoin mining works and she stole the electricity to mine bitcoin which is really weired, may be someone did that and she was caught instead. I am not a person who believes every media story and that is the reason i am skeptical about this news.

Maybe someone young from her family was really mining but when get caught they used grandma to tackle the lawsuit.
Saying because the lawsuit could be easy to tackle with an old lady over a young one, just wondering. Maybe the sentence is low for old persons.

[ene1980]

I am not convinced that an old grandma understands how bitcoin mining works and she stole the electricity to mine bitcoin which is really weired, may be someone did that and she was caught instead. I am not a person who believes every media story and that is the reason i am skeptical about this news.

Maybe someone young from her family was really mining but when get caught they used grandma to tackle the lawsuit.
Saying because the lawsuit could be easy to tackle with an old lady over a young one, just wondering. Maybe the sentence is low for old persons.

It is possible to tackle the issue with an elderly person, but it is really a cruelty if that is the truth, even i do not think that a old person could mine bitcoin, i am not sure whether that old lady is a IT expert or into electronics, if not there is no way in hell she is able to set a mining farm on her own. The article says that she accepted that she mined bitcoin, i think that old lady is covering for someone else in the family.

[yusupjatigumilar]

There are two sides that we can take as a lesson from this, firstly this can be a motivation for young people who still do not understand about bitcoin and crypto currencies, an elderly grandmother understands how to mine bitcoin even though he does not think how much it should he paid while there were still many young people who were afraid to do so. Second, to mine bitcoin requires careful calculations, especially in terms of costs. not only because we are tempted by the high price of bitcoin and we don't pay attention to the costs that we have to spend on mining.

[shesheboy]

Wow cool story . i didnt thought that a 61 yr old granny will going to be interested on bitcoin .  mature people tend to ignore the latest trend and they foccus more on the outside world but maybe not all  . btw this granny is cool but what i dont like is that why he steal some electricity just to mine a bitcoin ? If he cant afford mining then he must do other bitcoin jobs instead .  poor granny .

[fortunecrypto]

A Thursday report from China disclosed that the Kaiping District People’s Court of Tangshan City, Hebei Province has sentenced a 61-year-old woman to prison for stealing national power resources for the mining of bitcoin.

https://coinfomania.com/61-year-old-chinese-grandma-convicted-mining-bitcoin/

Just imagine seeing your grandma during holidays and asking, "what's keeping you busy?", and the responded will be, "mining bitcoin" . That will be priceless.  . So for 10 months, this old lady has been 'stealing electricity', but it look closely at the article, it looks like the profit is around $940 only. But she has to pay $1450 + jail time.

They should have pardoned her and not let her go to prison because of her old age since he already refunds the electricity that the old lady has used, the temptation is really high to use the electricity illegally in mining Bitcoin, I've known a lot of people here in our country doing just that and they are not yet caught.

[pooya87]

ignore the age and the "grandma" part and you can see how this is a very normal news not worth reading. someone was doing something illegal and got caught doing it. now they are paying the price of their wrongdoing with a fine and jail time. this is happening every day with people with all ages and backgrounds doing all kinds of illegal stuff and getting caught doing them, so it is not really something newsworthy!

[btc_angela]

ignore the age and the "grandma" part and you can see how this is a very normal news not worth reading. someone was doing something illegal and got caught doing it. now they are paying the price of their wrongdoing with a fine and jail time. this is happening every day with people with all ages and backgrounds doing all kinds of illegal stuff and getting caught doing them, so it is not really something newsworthy!

Besides that, the article didn't say how the authorities caught the granny. So part of me says that this could be another click-bait article though. Bad journalism, and probably the author just add another hype, the age and the 'grandma' part, Lol.

[Caladonian]

ignore the age and the "grandma" part and you can see how this is a very normal news not worth reading. someone was doing something illegal and got caught doing it. now they are paying the price of their wrongdoing with a fine and jail time. this is happening every day with people with all ages and backgrounds doing all kinds of illegal stuff and getting caught doing them, so it is not really something newsworthy!

Besides that, the article didn't say how the authorities caught the granny. So part of me says that this could be another click-bait article though. Bad journalism, and probably the author just add another hype, the age and the 'grandma' part, Lol.

Just getting attention that's how he manage to drag this title, would be an interesting to read but like what the previous post was said, if you removed the title it would be nothing an ordinary news about stealing from the government national power.

She's already 61 years old for sure she knew already how strict the government from her country, she's ready to take the consequence to get some penny.

[rosezionjohn]

I somehow find this cool despite the violations she committed (if this is true). The fine is just reasonable, she could have been handed harsher penalties. I wonder who thought her all the mining stuff.  

[Dreamchaser21]

I somehow find this cool despite the violations she committed (if this is true). The fine is just reasonable, she could have been handed harsher penalties. I wonder who thought her all the mining stuff.  

A very rare case to see old people mining bitcoin, she really rocks this market. Anyway, China will punish that woman despite of her age, i just hope that her bitcoin is still safe and place on the safe wallet don’t let Chinese government to confiscate that because you work hard on that despite of the way you choose.

[bitzizzix]

ignore the age and the "grandma" part and you can see how this is a very normal news not worth reading. someone was doing something illegal and got caught doing it. now they are paying the price of their wrongdoing with a fine and jail time. this is happening every day with people with all ages and backgrounds doing all kinds of illegal stuff and getting caught doing them, so it is not really something newsworthy!

Besides that, the article didn't say how the authorities caught the granny. So part of me says that this could be another click-bait article though. Bad journalism, and probably the author just add another hype, the age and the 'grandma' part, Lol.

Just getting attention that's how he manage to drag this title, would be an interesting to read but like what the previous post was said, if you removed the title it would be nothing an ordinary news about stealing from the government national power.

She's already 61 years old for sure she knew already how strict the government from her country, she's ready to take the consequence to get some penny.

I think this story is creative, and this is an example that young people cannot be inferior to parents who are obsessed with bitcoin mining despite doing the wrong thing by stealing electricity.
I think the article about the story of the 61-year-old grandmother is funny and interesting and it all depends on their respective judgments.

[Jating]

I somehow find this cool despite the violations she committed (if this is true). The fine is just reasonable, she could have been handed harsher penalties. I wonder who thought her all the mining stuff.  

Of course it's really cool to hear someone as old as her, involving herself in crypto. I mean we initially though that crypto is more of a millenial thingy, but this old lady prove otherwise.

And we also know that bitcoin mining is rampant in China, so maybe someone really teach her the ins and outs of making a mining rig. But I'm sure she has accomplices here, specially how to setup the hardware and the software and tapping into that (stealing) free electricity.

[Sithara007]

I don't understand the need to steal electricity for mining purposes. 80% or upwards of the mining expenses are reserved for the capital costs (mining rigs, cooling equipment, electricity circuit boards.etc). The electricity costs are not that high and represents only a small fraction of the overall expenses. And adding to it, the electricity price per KWh is very low in China.

[Botnake]

Very rare news but this proves that age doesn't matter in crypto, this grandma is just to smart to be in the market early, and an average joe in crypto does not know how to mine bitcoin, but this Grandma is so awesome, however bad for him as he got caught and convicted.

[traderethereum]

Hahaha, that is a nice story to know Grandma was mining bitcoin, I am sure that he will not share how much his profit to the public.
I guess that in their country, they have a low-cost electricity fee, so they don't have to pay a high fee and that is why that grandma was trying to mining bitcoin.
Even if she should pay tax or else, she still gets the profit.

[arpon11]

A Thursday report from China disclosed that the Kaiping District People’s Court of Tangshan City, Hebei Province has sentenced a 61-year-old woman to prison for stealing national power resources for the mining of bitcoin.

https://coinfomania.com/61-year-old-chinese-grandma-convicted-mining-bitcoin/

Just imagine seeing your grandma during holidays and asking, "what's keeping you busy?", and the responded will be, "mining bitcoin" . That will be priceless.  . So for 10 months, this old lady has been 'stealing electricity', but it look closely at the article, it looks like the profit is around $940 only. But she has to pay $1450 + jail time.

This is very bad of her and I will not encourage any one including my grandmother to do that type of thing. "stealing is stealing" no matter how we see it! She should however get lesser punishment instead of paying more than what she has stolen from chinese electricity. Since is about mining bitcoin people will go to any lengths to publish this conviction in other to prove or relate bitcoin with criminality.

[antisocial77]

Lol this is the cyberpunk soul.i would proud of her if my grandmother do that.her grndchild forced her to do it i think.

[serjent05]

as much as I love seeing old people adapting to new technologies I think the family just made her an escape goat since
if the suspect is younger the sentence could be a lot more severe.  

I would believe this theory.  There is nothing left for the old lady to loss since she is already in her senior while a young if convicted will have a more severe penalty and his reputation and career will be tarnished.  Salute for the sacrifice of the old lady probably because of her love for her family, but shame on those who used her as escape goat.


They were lucky they only need to pay the amount they stole  plus some interest.  If that happen in my country,  the penalty will be much higher in terms of payment.  It will be calculated on how long they have been using their electricity, let us say they only steal electricity for about a month but their record shows that they have been using their legal connection for 10 years, the fee will be calculated prior to that connection history.