$7000 fine for using supercomputer to mine bitcoin

[martmobi 127]

On 10/5/2019 at 9:51 AM, Ysysywy said:

At this point BTC is here to stay and it is better to join and mine it than to turn your back to it and pretend it doesn't exist...

We all get your point bro, but there is also a fact that you hit your send key multiple times and it creates a spam reply here, I hope you notice it and do something about your network or try to be cautious about it in the future... Smiling, I hope you don't take my reply in a negative way. Thanks in advance. 

[Elton23 202]

2 hours ago, jmigdlc99 said:

Agreed. A $7k fine isn't too bad compared to the potential upside of mining with a "supercomputer" if that's not exaggerated. In our country you wouldn't just be fined, you'd be fired and imprisoned as well.

Wow where you from? Penalties sound severe. Where Im from, something like that would be classed as White Collar Crime here in Europe. Basically, put a suit on, create a company, and the world is your oyster! On the other hand, walk down the street, rob someone and your guaranteed a prison term... welcome to life lol

 

[xBDT Script 4371]

Here you go the real reason of the fine:

Quote

Baykov and two other employees at the All-Russian Scientific Research Institute of Experimental Physics in Sarov, Nizhny Novgorod Region, attempted to mine cryptocurrency using a computer powered by one petaflop, which is equal to 1,000 trillion transactions per second.

Baykov was convicted of illegally accessing the computer and violating rules against storing information. 

https://decrypt.co/9751/man-fined-for-using-russian-supercomputer-to-mine-crypto

So it was obvious that the super computer was not for their personal use. In this kind of case the fine is looking very appropriate.

It's like stealing.

[ultimateclub 392]

Use of super computer in mining! How much the mining processor will consump the electricity!!! It's totally abuse of national assets instead of money. I think the fine should be increase more to stop these kind brutal mining.

[xBDT Script 4371]

1 minute ago, hafmy said:

I think with 7000 USD its very very expensive to invest on supercomputure to mine bitcoin

This is the fine amount that the court ordered to pay for the crime they did.

These people were using the property of a research centre illegally where they were meant to work LOL

If this was with anything else except bitcoin then they would also get the punishment. I think the deadline was a bit misleading.  

[bobjoemega 1088]

On 9/29/2019 at 5:53 AM, Consignee said:

A guy namely Danis Baykov and two of his colleagues have mined bitcoin from a computer of their official. Later, the guy have been sentenced $7000 fine for ding that illegally using official components for personal uses. Interesting. People are being crazy at bitcoin these days.

News source- https://decrypt.co/9751/man-fined-for-using-russian-supercomputer-to-mine-crypto

    It's not crazy, but addicted, people today are more drogued by cryptocurrency than anything else, me too i use the three computer that are in my workplace, i install Minergate in all of it, and i was lucky because in my country only 1 of 100000 persons, know about crypto, so you can see that in all the company we are two persons know what minergate do, the others think thats its a better app for the computer to work very fast.

[Ismoney 230]

Supercomputers are mostly seen in top research centers in the world with restrictions to its users. It’s speed gives the users advantage over other miners. However, it is actually good to use them if you have a right of use for bitcoin mining.

[WayOut 216]

Ahah, these guys are just losers. They used a regular computer and probably didn’t get any profit for it, but they lost $ 7,000. Probably they have never pulled out a winning lottery ticket!

[Zentoly 419]

To using super computer is a very good and best idea for mining and you will get the high amount of money in crypto.

[dhemasm 219]

Well, I saw this news too before. It's human nature to get their own profit and of course this guy and two other friend makes a mistake by using a supercomputer in their office which is certainly wrong, at least this is a lesson for them not to do things like this anymore.

[RyujinONE 131]

Super computer?

This its just using his office pc to mine bitcoin, well since the bitcoin mining make a lot resource. Of course if he get caught he will need to pay the lost from the company.

[Crypto123 0]

What a crazy man !! 7000$ !!! With this amount, he could buy two or three ASIC Miner, legally mining bitcoin and making good profits. But some people are either crazy or love to steal in their blood and don't care about the consequences.

[spyaquino 907]

People try to turn around as best they can to earn their satoshis the way it gives. Of course apparently they should not have extracted more BTC than the fine but at least they somehow tried to garner their daily satoshis !!

[Cryptominded 704]

If the said supercomputer could perform 1,000 trillion transactions per second, then the guys could have made a kill before luck ran out of them and given that 1 BTC is about $9,500 then the $7000 fine could be a chicken change from all the Bitcoin he must have mined.

[Corrado25 9442]

On 30.09.2019 at 1:46 AM, chiefjustice said:

it is not the mining (imo), it is using other's property, here the computer. Same as stealing. The act itself is an intrusion 🙂

Without the knowledge or permission, even normal computers, if someone literally hold your old lappy or granny PCs, that would be your initial reaction.

Undoubtedly it is a crime. He knew what was coming. Now he will have to pay a fine of more than 1 bitcoin. And he could just buy some bitcoin for himself and save it. It would be a great investment. He was lucky that he only received a fine

[Cryptominded 704]

On 11/12/2019 at 5:37 AM, Crypto123 said:

What a crazy man !! 7000$ !!! With this amount, he could buy two or three ASIC Miner, legally mining bitcoin and making good profits. But some people are either crazy or love to steal in their blood and don't care about the consequences.

The article didn't say for how long they have been using the super computer to mine or how much Bitcoin they had mined. But given that was a supercomputer capable of 1000 trillion transactions per second, they could have mined a lot of Bitcoin. The fine was for using office equipment for personal purpose and not based on mining of Bitcoin.

[on1k3n 470]

This guy is stupid smart LOL. You can't use the companies computer for your own personal gain. I'm sure he will try to pay off his $7000 fine with money donated to a charity. This guy is all over the place, but I can't blame him though. We all want to get money, but I would never do that. Just wait until you get home dude. It's not that serious. 

[yifnt 666]

They deserve to be punished if they use company equipment to do mining or other things that are not needed by the company. This will be very detrimental to the company or other people's devices used by them

[Rares002 262]

Lol guy had the right idea shane he got caught. if u can get freehashrate ans free power your on a winner lol 7k fine sucks but better then imprisonment ect also depends on the system it self could compromise security ect fears there could have been a lot worse

If at first you dont succed mining just borrow the works super computer lol

[bliznec 22267]

Today, many come to their work and begin to mine bitcoin. Many hide this action from prying eyes and they are not punitive. 

[Zentoly 419]

On 11/14/2019 at 11:50 AM, jhosw5 said:

Supercomputers are a great tool to mine bitcoins, but I think mining them now is too time consuming and labor intensive,

Right to say supercomputer for mining is very best tools but when these computer will mine 7000 usd then really it will take more time because 7000 $ is not a low amount.

[scorpiali 5626]

Everyone want this Bitcoin at any price with any ways it's like gold in the 19th century in United States all poor people search it in any River they can die for it

[CryptoDJ 712]

This is just a crazy price for so much time) I'm trying to mine on their 4 video cards from Nvidia, they give me a day only 30-50 dollars a day, although their cost is more than 1000 thousand dollars. That would also buy a computer and mine all the coins on the Internet).

[aika 286]

I hope they were able to mine more than 7000$ lol. If not, it wasn't worth it. What about if the computer broke and it caused a nuclear meltdown at the facility? or a nuclear fuel to spill? Lmao these guys are crazy. Nuclear energy is serious business for the Russians, they don't want another Chernobyl there.

[Akbor 1042]

But this is not right way to use others pc. they should use their personal pc for mining . now a days people are becoming very much interested about crypto and they should be polite about crypto using.