Go To Jail For Mining Crypto

Go To Jail For Mining Crypto

what’s up Sons it’s blind rod with son
ofch once again and today’s topic is
thanks to Dan San over on locals at son
of. locals.com we’re going to be talking
about crypto mining now being punishable
by law and basically up to 12 years in
prison for mining cryptocurrency on your
computer hardware up to 5 years in
prison for just owning anything that may
be related to cryptocurrency mining
which begs quite a few different
questions and this is going into effect
on April 10th or has gone into effect on
April 10th in Angola now I wasn’t
familiar with this particular country so
I did look it up on Wikipedia and there
are strong relations between this
particular country and China as well as
the European Union and the United States
due to its high concentration of
petroleum so they have the standard kind
of energy uh capabilities that you may
expect for these three countries to be
in in tandem with and there is some
inkling of China coming back around and
basically Banning cryptocurrency mining
again as well I’m not so sure I believe
that that’s what this article from
cryptopolitan would have you believe but
it goes on to basically talk about a
crossborder Crackdown here so it says
shift your gaze to China and you see
they’ve technically shut the door
completely on cryptocurrency
transactions they stated that these
digital assets don’t Stack Up to real
cash and legal tender terms and dabbling
in them is considered illegal Financial
Antics Angola is not pulling punches
either they’ve been rounding up several
Chinese citizens since the last year
busting them for illegal Mining and even
for tapping into power supplies without
permission the Chinese Embassy in Angola
is now on a mission to make sure its
citizens and businesses aren’t stepping
out of line as reported by the local
media Outlet they’re doing or doing out
some serious advice stick to the law
keep your electricity use legit and
steer clear of any crypto dealings now I
have quite a few problems with this as
who determines what is legit and unlegit
proper use of electricity that is a
ridiculous proposition to me electricity
shouldn’t be regulated for what its use
is in my humble opinion but I’d like to
hear your thoughts and opinions down in
the comment section below it is also
important important to note here that
China is basically operating in this
form and fashion within the Chinese
Embassy and for Chinese uh citizens that
are operating within Angola and I think
that’s a clear distinction between the
way the title of this article would have
you believe that it’s a problem in China
itself when that’s not necessarily the
takeaway here they’re worried about
shaking ground under cryptocurrencies
now in this particular case I think the
Chinese Embassy is
is concerned about their relations with
Angola not with this in particular but
they go on to say that they are volatile
lack real value and are prone to
manipulation I agree with two out of the
three of those maybe saying that we have
a lot of volatility within the
cryptocurrency market but over the long
term it does seem to be less volatile
than even the stock market at this point
and I do agree to the idea that they are
prone to manipulation especially at the
lower level we see a lot of this
especially with the releases of Asic
miners for things like Caspa and Alum
and soon to be radiant where you see
kind of these large companies that have
a lot of capital able to manipulate
smaller cap coins and especially on the
mining front layer one proof of work
side of things and that’s just another
reason why I will always stand behind
Asic resistance no matter how many
people try to convince me that that’s
not important now the emb’s also
throwing a red flag on the flashy
Promises of financial Innovation and
quick riches warning folks to watch out
for scams dressed up as investment
opportunities not a bad warning here
obviously you want to do a ton of
research for before investing in
anything and that includes
cryptocurrencies and probably especially
cryptocurrencies because half of them
are just jokes oh and keep a tight grip
on your personal and baking info unless
you want them misused now this one’s a
little bit more scary because this
implies basically prosecution based off
of your banking info being tied to
cryptocurrency without proof that you
actually did uh participate within
cryptocurrency so just Guilty By
Association or not even Association just
Guilty by the fact is of your bank
account being tied to crypto in some
form or fashion which is frankly a
little scary there and the question then
becomes right does this end up
translating into other countries could
it eventually come into the United
States States a lot of people say you
know the United States has freedoms that
separate it from other countries but
that’s been being shut down more and
more often at least on state levels as
the Second Amendment doesn’t exist in
this courtroom according to a judge in
New York sentencing a man here recently
uh for having basically completely legal
parts to his guns and building his own
guns in his own home so if you thought
the second amendment in the Constitution
would protect you from violation of your
rights well I’m going to say we are
quickly going down a slippery slope in
the United States of that not being true
at all so is this possible within the
United States certainly now is it likely
that’s another question that we have to
actually deal with and if I look at
everything uh and take a step back I do
have to admit that cryptocurrency is a
threat to the US dollar especially as as
Russia spins up a bit a bunch of Bitcoin
mining farms and is a part of bricks and
not participating within the US dollar
and utilizing that to bypass sanctions I
would have to say that yes the US
government would be incentivized to
block cryptocurrencies cryptocurrency
Mining and investing in some form or
fashion will it happen I don’t know I
just see the incentive there as it is
now so then my question to you guys as
cryptocurrency miners based in the
United States or anywhere else if your
government tells you that it is
punishable by jail time to mine
cryptocurrency will you comply or will
you not and why or why not let me know
in the comment section below thanks for
watching and I will see you next Tuesday

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