1. SipPop GamesHome
  2. NFT Newsflash

Why is mining dangerous? Why is mining not illegal

• NFT Newsflash • 61 views

Why is mining dangerous? Why is mining not illegal

Why is mining dangerous? Why is mining dangerous? In the second half of 2017, as the price of Bitcoin continued to rise, mining became the mainstream The cryptocurrency market in 2018 ushered in a “bull market”. But this bear market has led to a decreasing understanding of blockchain technology. Many practitioners have even turned their attention to the development and application of blockchain technology. For example, a data statistic on January 10th this year showed that the global Bitcoin network consumed over 2 trillion kilowatt hours (TWAP) of electricity in the first half of 2019. During this period, the computing power of the entire network grew rapidly, causing the price of Bitcoin to plummet from its historical high in early 2019 to its current low of around $30000. So is it time for mining safety now? Or are mining risks still present? Today, let’s take a look at these issues together.

Why mining is not illegal

According to Caixin. com, Article 287 of China’s Criminal Law stipulates that “virtual currency mining” is illegal fundraising using digital cryptocurrencies such as Bitcoin. Legally, the act of raising funds from the public through crypto tokens such as Bitcoin, Ethereum, Litecoin as a form of currency provides a basis for criminal activities. However, in practice, due to the lack of clear legal protection standards and the significant impact on the price of special coins, why is mining not illegal?

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/22314.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/06/2023 13:52
Next 08/06/2023 14:14

Related recommendations