Is it legal to mine your own home electricity?

1. Will the mining machine be confiscated if an individual mines in his own home and is checked?

This information is about the fact that I have a bitcoin mining machine in my home. What right do the Power Supply Bureau and the Bureau of Industry and Commerce have to confiscate my mining machine? Selling bitcoin mining machines and using bitcoin mining machines are illegal and criminal Is it a felony or will I go to jail? Why Taobao bans the sale of bitcoin mining machines, is it illegal to be a bitcoin mining machine, why would a tenant use a mining machine to mine bitcoin and cause power outages in the community? The digital blockchain will help you Please collect and sort out…

2. Is it illegal to mine Ethereum with residential electricity?

Illegal.

The relevant person in charge of the National Development and Reform Commission pointed out that, on the one hand, the energy consumption and carbon emission intensity of “mining” activities are high, which is very important for my country to achieve dual control of energy consumption and carbon peaking and carbon neutrality. And the target will have a greater impact, increase the pressure on power security and supply in most areas, and aggravate the tight supply and demand of related electronic information products.

On the other hand, bitcoin hype transactions disrupt the normal financial order of our country, spawn illegal and criminal activities, and become a channel for money laundering, tax evasion, terrorist financing and cross-border capital transfer, threatening social stability and the country to a certain extent. Safety.

The notice is clear, distinguishing between incremental and stock items of virtual currency “mining”. It is strictly forbidden to invest in the construction of incremental projects, and it is forbidden to develop virtual currency “mining” projects in any name; speed up the orderly exit of existing projects, and scientifically determine the exit schedule and implementation path in light of the actual situation in various places on the premise of ensuring a smooth transition.

The concept of Bitcoin was originally proposed by Satoshi Nakamoto on November 1, 2008, and was officially born on January 3, 2009.

The open source software designed and released according to the ideas of Satoshi Nakamoto and the P2P network built on it. Bitcoin is a P2P form of encrypted digital currency. Bitcoin transaction records are open and transparent. Peer-to-peer transmission means a decentralized payment system.

Unlike all currencies, bitcoin is not issued by a specific currency institution. It is generated by a large number of calculations according to a specific algorithm. The bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm And record all transaction behaviors, and use cryptographic design to ensure the security of all aspects of currency circulation.

P2P’s decentralized nature and algorithm itself can ensure that the currency value cannot be artificially manipulated by mass-producing bitcoins. The cryptography-based design allows Bitcoin to be transferred or paid only by the true owner. This also ensures the anonymity of currency ownership and circulation transactions. Bitcoin has a very limited total amount and is scarce.

3. Is home electric mining illegal?

Legal analysis: Mining with home electric power is not illegal, but if it is illegal to use low-cost electricity for mining If so, it is illegal. Because the state implements low-price electricity tariffs for some industries that consume huge amounts of electricity, and some are even lower than civilian electricity. And if you stay in your own home and use civilian electricity, there is no illegal aspect in the sense. The trouble is, if the electricity consumption for civilian use is too high, the relevant departments may conduct an investigation, depending on the regulations of the local government where the parties are located.

Legal basis: Article 343 of “Criminal Law of the People’s Republic of China” violates the provisions of the Mineral Resources Law, mining without a mining license, and entering mining areas planned by the state without authorization, which is of great value to the national economy If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also or only be fined; if the circumstances are especially serious, he shall be sentenced to a fine. Fixed-term imprisonment of not less than three years but not more than seven years and a fine. Whoever, in violation of the provisions of the Mineral Resources Law, exploits mineral resources by destructive mining methods, causing serious damage to the mineral resources, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined.

4. Is it illegal for residents to mine Ethereum with electricity?

It is illegal for residents to mine Ethereum with electricity.

The relevant person in charge of the National Development and Reform Commission pointed out that, on the one hand, the high energy consumption and carbon emission intensity of “mining” activities will bring about the realization of dual control of energy consumption and carbon peaking and carbon neutrality in my country. It will have a greater impact, increase the pressure on power security in most regions, and aggravate the tight supply and demand of related electronic information products.

On the other hand, bitcoin hype transactions disrupt the normal financial order of our country, spawn illegal and criminal activities, and become a channel for money laundering, tax evasion, terrorist financing and cross-border capital transfer, threatening social stability and the country to a certain extent. Safety.

The notice is clear, distinguishing between incremental and stock items of virtual currency “mining”. It is strictly forbidden to invest in the construction of incremental projects, and it is forbidden to develop virtual currency “mining” projects in any name; speed up the orderly withdrawal of existing projects, and scientifically determine the withdrawal timetable based on the actual situation in various places on the premise of ensuring a smooth transition.� Implementation path.

Related Notices

Notices It is required to comprehensively sort out and investigate virtual currency “mining” projects, and strictly prohibit investment and construction of new projects. Strengthen the dual-control constraints on the energy consumption of the newly added virtual currency “mining” project. Added “Virtual Currency ‘Mining’ Activity” to the “Industrial Structure Adjustment Guidance Catalogue (2019 Edition)” “elimination category”.

Before the supplementary listing, the virtual currency “mining” project will be treated as an eliminated industry, and investment is prohibited in accordance with relevant regulations. It is strictly forbidden to carry out virtual currency “mining” activities in the name of the data center. Strengthen the credit supervision of data center enterprises. Strictly limit the use of telegrams and energy by virtual currency “mining” enterprises. It is strictly prohibited to provide financial, taxation and financial support for newly-built virtual currency “mining” projects.

For the above content, please refer to the People’s Daily Online-11 Department jointly issued a notice to rectify virtual currency “mining” activities

5. Is it illegal to mine bitcoin at home?

Currently There is nothing expressly stating that it is illegal to mine Bitcoin, so it is not illegal. It’s just because the cost of mining is high and the power consumption is high, so our country does not allow the establishment of mining farms for mining. The main reason is that the power consumption is large, which has caused a lot of pressure on the social environment. this policy.

1. Why does the Bitcoin mining machine consume so much electricity
Because the power consumption of the graphics card of the mining machine is large. A bitcoin mining machine is a computer used to earn bitcoins. This type of computer generally has professional mining chips, and mostly uses a large number of graphics cards to work, which consumes a lot of power.
The rated power of each graphics card is about 250W, slightly overclocking is about 300W, and 4 graphics cards are 1200W. The motherboard, CPU, hard disk, etc. add up to no more than 200w display, and the miner basically does not need a display. The total power is around 1400w.
Bitcoin Miner A computer used to earn bitcoins. This type of computer generally has professional mining chips, and mostly uses a large number of graphics cards to work, which consumes a lot of power. The computer downloads the mining software and then runs a specific algorithm. After communicating with the remote server, the corresponding bitcoins can be obtained, which is one of the ways to obtain bitcoins.

Second, mining income
Miners will receive two types of rewards during the mining process: new coin rewards for creating new blocks, and transaction fees for transactions contained in blocks. In order to get these rewards, miners scramble to complete a mathematical problem based on encryption hash algorithm, that is, use Bitcoin mining machine to calculate the hash algorithm;
This requires strong computing power, how much computing process, The calculation result is good or bad as the proof of the miner’s computational workload, which is called “Proof of Work”. The competition mechanism of the algorithm and the mechanism by which the winner has the right to record transactions on the blockchain both keep Bitcoin safe.
Miners also receive transaction fees. Each transaction may contain a transaction fee, which is the difference between the inputs and outputs recorded by each transaction.

6. A newcomer, weakly asked, if the household electricity mining, the regular payment of electricity bills, the power supply bureau will investigate and deal with abnormal electricity consumption, is it illegal. What is the punishment…

It is definitely illegal,
It is definitely illegal to use electricity for industrial use,
And do you have a license for mining?
This is not a joke

7. Is it illegal to mine at home?

Legal analysis: mining without a license by yourself is an illegal act. compensation for losses.

Legal basis: “Mineral Resources Law of the People’s Republic of China”

Article 29 When mining mineral resources, reasonable mining sequences, mining methods and mineral processing techniques must be adopted. The mining recovery rate, mining dilution rate and beneficiation recovery rate of mining enterprises shall meet the design requirements.

Article 30 While mining main minerals, the symbiotic and associated minerals with industrial value shall be planned in a unified manner, comprehensively exploited, and comprehensively utilized to prevent waste; For the minerals that cannot be comprehensively utilized for the time being and the tailings containing useful components, effective protection measures should be taken to prevent loss and damage.

8. Is it illegal for 10 mining machines to mine in one’s own home?

Not illegal.
1) It is not illegal in mainland China at present. Of course, mining machines are not illegal. Otherwise, people who use graphics cards to mine will have their graphics cards confiscated.
2) The “Notice” issued by the five ministries and commissions defines Bitcoin as a “special commodity”, which can be legally held at your own risk.
3) At present, Bitcoin has three major risks: cross risk, price risk, and “running” risk. Due to its anonymous, unrestricted, and untraceable characteristics, Bitcoin has gradually been used by criminals as a means of exchange and payment.
Expanded information
1. The article of Xinhua News Agency stated that recently, the central bank found in the on-site inspection of major trading platforms in Beijing that Huobi and OKCoiAll n-currency banks use the precipitation funds formed by investors to recharge to purchase wealth management products, totaling about 1 billion yuan. New things are developing too fast, and supervision must quickly keep up with the pace, actively improve the system and regulations, and put Bitcoin into the cage of supervision. In the face of serious violations of Bitcoin trading platforms, supervision should never be soft-hearted and shut down.
Secondly, the low computing power of S7 Bitcoin is caused by various reasons. 1. It may be a problem of temperature, low or high temperature will affect the computing power of the mining machine; 2. There is a problem with the mining machine itself, resulting in abnormal computing power; 3. The aging of the mining machine leads to a reduction in the computing power, The computing power of second-hand mining machines is relatively the first. This is the case for all the mining machines that need to be mined, such as Bitcoin, Litecoin, and Sand Coin.
3. In the Bitcoin Risk Notice jointly issued by the People’s Bank of China and other five ministries and commissions at the end of 2013, Bitcoin is clearly defined as a special Internet commodity, and the public can freely buy and sell it at their own risk. But it negates the monetary properties of Bitcoin. Note that Article 143 of the “General Principles of Civil Law”, which requires certain risks in trading Bitcoin, stipulates that “Civil legal acts that meet the following conditions are valid: (1) The actor has the corresponding capacity for civil conduct; (2) The intention is true; (3) It does not violate the mandatory provisions of laws and administrative regulations, nor violates public order and good customs.” The announcements of the seven ministries and commissions are neither laws nor administrative regulations, and cannot be used as a legal basis for judging whether civil legal acts are valid; the law is not retroactive. Therefore, the Bitcoin transaction that has occurred has legal effect, and the Bitcoin obtained due to the transaction is protected by law. Therefore, legal disputes arising from transaction behaviors include civil or criminal, and should be subject to judicial jurisdiction. Courts or public security organs cannot refuse to accept Bitcoin because of the announcement of the seven ministries and commissions that it is not protected by law.
Fourth, Bitcoin is electronic cash similar to e-mail, both parties to the transaction need a “Bitcoin wallet” similar to an e-mail address and a “Bitcoin address” similar to an e-mail address. As with sending and receiving emails, the sender sends bitcoin directly to the recipient’s address via a computer or smartphone.
5. A bitcoin address is a string of characters about 33 digits long, consisting of letters and numbers, always starting with 1 or 3, such as “”. Bitcoin software can automatically generate addresses, and when generating addresses, there is no need to exchange information online, and it can be done offline. There are more than 2 bitcoin addresses available. To put it figuratively, there are about 2 grains of sand in the world, and if there is an earth in each grain of sand, the total number of Bitcoin addresses is far more than the number of all the sands on all these “earths”.
6. Bitcoin address and private key appear in pairs, their relationship is like bank card number and password. A bitcoin address is like a bank card number used to keep track of how many bitcoins you have deposited at that address. You can generate bitcoin addresses at will to store bitcoins. When each bitcoin address is generated, a corresponding private key for the address is generated. This private key proves that you own the bitcoins on that address. We can simply understand the Bitcoin address as a bank card number, and the private key of the address as the password of the corresponding bank card number. You can only use the money on your bank card number if you know your bank PIN. So, please save your address and private key when using Bitcoin wallet. After the Bitcoin transaction data is packaged into a “data block” or “block”, the transaction is initially confirmed. After the block is linked to the previous block, the transaction is further confirmed. After 6 consecutive block confirmations, the transaction is basically irreversibly confirmed. The Bitcoin peer-to-peer network stores all transaction history in the “blockchain”. The blockchain continues to lengthen, and once new blocks are added to the blockchain, they cannot be removed. The blockchain is actually a group of decentralized client nodes and a distributed database composed of all participants, which is a record of all Bitcoin transaction history. Satoshi Nakamoto predicts that when the amount of data increases, the client hopes that not all of this data will be stored in its own node. In order to achieve this goal, he adopted the introduction of hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early Bitcoin transaction records.
Browser computer: macbookpro mos14 open google version 92.0.4515.131

9. Is it illegal to rent a house with temporary electricity for mining?

It is illegal to mine coal mines without permission.
Legal Analysis
If the flow rate is far below the minimum flow rate that guarantees accuracy, it will result in no output (such as a vortex flowmeter) or the output signal will be cut off as a small signal (such as a differential pressure flowmeter) , which is unfavorable and unfair to the supplier. �In order to prevent the loss of benefits, for a specific set of thermal energy metering equipment, the supply and demand sides often agree on a certain flow value as “the lower limit flow rate” according to the flow measurement range and the range that can be achieved, and if the actual flow rate is less than the specified flow rate. The agreed value is charged according to the lower limit of charging traffic. The metrological administrative department of the people’s government at or above the county level may set up metrological verification institutions as needed, or authorize metrological verification institutions of other units to perform compulsory verification and other verification and testing tasks. Personnel performing the verification and testing tasks specified in the preceding paragraph must pass the examination. This function is usually implemented in flow display instruments. The metrology administrative department of the local people’s government at or above the county level shall, according to the needs of the region, establish public measuring standard instruments, which shall be used after passing the examination presided over by the metrological administrative department of the people’s government at a higher level. Enterprises and institutions may, according to their needs, establish standard measuring instruments for use by their own units, and each of the highest standard measuring instruments will be used after passing the examination under the auspices of the administrative department of metrology of the relevant people’s government. The metrological verification work shall be carried out locally and nearby in accordance with the principle of economical rationality. Metrological verification must be carried out in accordance with the national metrological verification system table. The national metrological verification system table is formulated by the metrological administrative department of the State Council.
Legal Basis
“Criminal Law of the People’s Republic of China” Article 343 Violating the provisions of the Mineral Resources Law, mining without a mining license, and entering mining areas planned by the state and of great value to the national economy without authorization Mining with others within the scope of the mining area, or mining without authorization specific types of minerals stipulated by the state for protective mining, if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also or only be fined; if the circumstances are especially serious, he shall be sentenced to three years More than seven years imprisonment and a fine. Whoever, in violation of the provisions of the Mineral Resources Law, exploits mineral resources by destructive mining methods, causing serious damage to the mineral resources, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined.

10. Is it illegal to mine at home by yourself?

Hello, I am a partner lawyer of Baidu Platform, and I am happy to serve you. [Answer]

According to the current attitudes of various countries towards digital cryptocurrencies, it is not illegal to use household electricity for mining, but it is illegal to use low-cost electricity for mining illegally. of. Because the state implements low-price electricity tariffs for some industries that consume huge amounts of electricity, and some are even lower than civilian electricity. And if you stay in your own home and use civilian electricity, there is no illegal aspect in the sense. The trouble is, if the electricity consumption for civilian use is too high, the relevant departments may conduct an investigation, depending on the regulations of the local government where you are located. [Answer]

Hello [Question]

Hello [Answer]

Mine mining without a license by yourself is an illegal act and should be investigated Legal liability and compensation for losses. Mining requires a mining license, which is a license issued by the mining registration and management authority, and is issued by the competent land and resources departments at all levels in accordance with the statutory authority. Mining licenses may not be traded, altered or lent to others. 【Answer】

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