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Presumably, the cost of electricity for mining is small, and a lot of the value of crypto is amortized from the hardware. Like anything else it can be stolen b
by jamesmurray 9y ago
Presumably, the cost of electricity for mining is small, and a lot of the value of crypto is amortized from the hardware.
Like anything else it can be stolen but, they would need to know about it. If I can stash a small rig somewhere, then I can produce currency. This process doesn't require scale or major investment, so you could mine at a small enough scale to be below notice.
- wpietri 9y agoI would want to see your calculations on that. Venezuela is dealing with electricity rationing [1] and blackouts [2], and has had issues for years. [3] Further, the hardware needed for effective mining is very expensive in Venezuelan terms, and surely must be difficult to obtain. How much power would they really have to use to pay off often enough to justify the investment? [1] https://www.reuters.com/article/us-venezuela-blackouts/venezuela-begins-power-rationing-as-drought-causes-severe-outages-idUSKCN1GS2M5 https://www.reuters.com/article/us-venezuela-blackouts/venez... [2] e.g., https://www.reuters.com/article/us-venezuela-blackout/blackout-hits-parts-of-venezuelan-capital-idUSKBN1FQ33T https://www.reuters.com/article/us-venezuela-blackout/blacko... [3] https://www.cnn.com/2016/04/26/americas/venezuela-blackouts/index.html https://www.cnn.com/2016/04/26/americas/venezuela-blackouts/...