Japan to Give First Jail Sentence For Hidden Mining

Unemployed 24-year-old resident of the city of Amagasaki received one year's imprisonment with a three-year suspended sentence
03 July 2018   1834

The Japanese court for the first time issued a guilty verdict for using a hidden mining of cryptocurrency, Bitcoin com reports.

On July 2, the Sendai District Court sentenced an unemployed 24-year-old resident of the city of Amagasaki, Hyogo Prefecture, to one year's imprisonment with a three-year suspended sentence.

This verdict was the first decision in the case of the spread of the browser-based CoinHive Miner to other people's computers for the hidden mining of Monero.

In the autumn of 2017, three suspects created websites that installed a virus-mining program on their devices without their consent.

One of them, the law enforcement agencies of Japan have imposed a fine of 100 thousand yen (about $ 900) for the illegal deployment of the virus. He himself, however, argued that in fact this program is not a virus, but is "a method similar to what is used to distribute online advertising."

Since June 18, the Financial Services Agency of Japan (FSA) has banned anonymous crypto-currencies, including Monero, because of the potential for their use in fraudulent purposes.

Also this week it became known that the Agency is considering the possibility of changing the regulatory and legal framework for controlling exchange operations with bitcoin and other cryptocurrencies.

600k New Miners to Join BTC Network in 3 Months

Experts believe that hashrate and complexity will continue to grow
17 September 2019   69

Hashrate and bitcoin mining difficulty have increased by 60% since mid-June. This indicates that more than 600 thousand new devices for mining are connected to the network, Coindesk reports.

Since the beginning of summer, several new ASIC miners with an average capacity of 55 TH / s have appeared on the market.

With an average device cost of $ 1,500- $ 2,500, the total revenue of leading manufacturers could be $ 1 billion.

The increase in demand for equipment is partly due to an increase in the price of bitcoin, as well as the rainy season in southwestern China and, therefore, cheap hydropower.

Following the drastic increase in bitcoin’s price, the bitcoin mining market saw significant inflation in Q2 2019. Most of the miners from various manufacturers were in serious shortage and pre-orders submitted in Q2 and Q3 are to be delivered by the end of the year.
 

Tokensight

According to their estimates, the hashrate and complexity will continue to grow. By the end of the year, the total computing power of the bitcoin network will exceed 100 EH / s, and the mining complexity will be 15 trillion, they say.