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[NoLimits15]

Venezuelan police seized high-level mining equipment from a bitcoin miner who failed to provide necessary legal documents. The miner was transporting his mining rig to another location where he got caught by the police. He was using an Antminer S9 by Bitmain. There are no electricity costs in Venezuela and that is why it is an ideal location for miners, but recently the government is taking strict measures against miners for some reason.

 

[Balint098]

Well, he was kind of abusing the system there since there's no need to pay for electricity. Still, sad to see yet another country takes a strict measures against crypto.

 

[Reznov]

the same happened to a ETH miner in egypt a month ago, they took away his 12 motherboards and bunch of motherboards that were in appartement that he was renting in Cairo

 

[Wisdom01]

Maybe he is using the opportunity to mine since there is no cost for electricity ,I think the country should make hard laws concerning those illegal miners

 

[Josemendez]

Venezuelan police seized high-level mining equipment from a bitcoin miner who failed to provide necessary legal documents. The miner was transporting his mining rig to another location where he got caught by the police. He was using an Antminer S9 by Bitmain. There are no electricity costs in Venezuela and that is why it is an ideal location for miners, but recently the government is taking strict measures against miners for some reason.

First he deserve to face the punishment for illegal mining activities .
Secondly , the Venezuela government are right by checking illegal miners because mining consumes a lot of electricity.

 

[Ewogboka]

If no electricity cos for miners doesn't exist making it easier and cheaper there shouldn't be any reason for the miners not to get all necessary documents to mine in Venezuela.

 

[Josemendez]

If no electricity cos for miners doesn't exist making it easier and cheaper there shouldn't be any reason for the miners not to get all necessary documents to mine in Venezuela.

I don't think getting the necessary documents is the problem , I think government will only want to give mining opportunity to the citizens first , before considering other miners .

 

[Ewogboka]

I don't think getting the necessary documents is the problem , I think government will only want to give mining opportunity to the citizens first , before considering other miners .

Remember the poster said he failed to provide the necessary documents which obviously means he doesn't have the license to mine bitcoin in that country.

 

[Wisdom01]

I think miners are breeding up and getting much in different countries , I think the government should make it mandatory for people to have a meter in each house to regulate the power useage

 

[Ewogboka]

I think miners are breeding up and getting much in different countries , I think the government should make it mandatory for people to have a meter in each house to regulate the power useage

A good options because this will make them to be fully responsible for their electricity use. Venezuela can generate revenue from these miners..

 

[Wisdom01]

A good options because this will make them to be fully responsible for their electricity use. Venezuela can generate revenue from these miners..

Those miners do make money from mining bitcoin , the government can create a medium of generating more revenue imposing tax on them and support the economy

 

[Ewogboka]

The logic is simple by issuing them license just like the Iranian government did to miners in their country. The government can estimate the likely amount a miner gets averagely.

 

[Wisdom01]

You are right but even if issued a license there will still be some form of illegal miners, because most of those countries have no record of their citizen

 

[Wisdom01]

You are right but even if issued a license there will still be some form of illegal miners, because most of those countries have no record of their citizen

 

[onlyprofits]

First he deserve to face the punishment for illegal mining activities .
Secondly , the Venezuela government are right by checking illegal miners because mining consumes a lot of electricity.

For your answer I can assume two things:
1.- You do not live in Venezuela.
2.- You live in Venezuela, but you are a blind supporter of the most corrupt government the country has had.
Under the very poor social, economic and political conditions that the country is experiencing, added to the social degeneration, it is not uncommon to take advantage of any opportunity to generate some money that will allow to correct the main costs of the food basket.
Society has become a cluster of people who only think of satisfying their main needs, very far from that good-natured and fun country that we were before.

 

[Josemendez]

For your answer I can assume two things:
1.- You do not live in Venezuela.
2.- You live in Venezuela, but you are a blind supporter of the most corrupt government the country has had.
Under the very poor social, economic and political conditions that the country is experiencing, added to the social degeneration, it is not uncommon to take advantage of any opportunity to generate some money that will allow to correct the main costs of the food basket.
Society has become a cluster of people who only think of satisfying their main needs, very far from that good-natured and fun country that we were before.

Yea am not from Venezuela but let's call a spade a spade , illegal mining is not right and should be avoided , irrespective of the situation of the company .
If I may ask , is it good for one to steal because the economy is poor ?

 

[Wisdom01]

Its not good for someone to steal because the economy is bad and not good for a government to steal because the economy is bad, but illegal mining or any corrupt practices should be put to law

 

[onlyprofits]

Yea am not from Venezuela but let's call a spade a spade , illegal mining is not right and should be avoided , irrespective of the situation of the company .
If I may ask , is it good for one to steal because the economy is poor ?

I do not see it as stealing, since you are paying a consumption of electrical energy, more guilty is the government that does not clearly legislate on the conditions to have a mining equipment running, but worse, in Venezuea there are many mining farms whose owners are government or state security officials.
In Venezuela they take nothing from a mining equipment for you, even if you have the invoice, since the security forces know the real value of that equipment and the profit they can get by putting it in a mining farm.
Currently there is an institution that is taking the first steps regarding the regulation of cryptocurrency mining.
There is a belief that electricity is not paid in Venezuela, if it is paid, but the cost is almost negligible compared to international costs.

 

[Josemendez]

Its not good for someone to steal because the economy is bad and not good for a government to steal because the economy is bad, but illegal mining or any corrupt practices should be put to law

Its not good for someone to steal because the economy is bad and not good for a government to steal because the economy is bad, but illegal mining or any corrupt practices should be put to law

Its not good for someone to steal because the economy is bad and not good for a government to steal because the economy is bad, but illegal mining or any corrupt practices should be put to law

That's just the point I was trying to say , crime is crime irrespective of the reason behind it . however I am not supporting the Venezuela government on their act of not fulfilling their obligations to citizens.

 

[Josemendez]

I do not see it as stealing, since you are paying a consumption of electrical energy, more guilty is the government that does not clearly legislate on the conditions to have a mining equipment running, but worse, in Venezuea there are many mining farms whose owners are government or state security officials.
In Venezuela they take nothing from a mining equipment for you, even if you have the invoice, since the security forces know the real value of that equipment and the profit they can get by putting it in a mining farm.
Currently there is an institution that is taking the first steps regarding the regulation of cryptocurrency mining.
There is a belief that electricity is not paid in Venezuela, if it is paid, but the cost is almost negligible compared to international costs.

Oh! Now I get the full picture , if the motive behind the seizure of the mining equipment was for selfish purpose of the policeman involved , then it is an evil act .
Secondly , if there is no law with respect to mining, then there should be no reason to see the equipment.