Thieves steal 600 powerful bitcoin-mining computers in huge heist

This demonstrates another risk of Cryptocurrencies -- physical security.

Thieves steal 600 powerful bitcoin-mining computers in huge heist
In Iceland, police are hoping a power surge will lead them to the criminals' stash.
https://www.cnet.com/news/iceland-big-bitcoin-heist-cryptocurrency-mining-computers/


"Icelandic thieves steal 600 Bitcoin mining computers, estimated value $2 million... $50 million... $2 billion... $323 million... $10 thousand"

 

Physical security also applies to cash, gold, etc.

 

"police are hoping a power surge will lead them"

Sure, a power surge in China...

 

These guys probably stole the computers.



http://www.industrytap.com/giants-carrying-icelands-electricity/824

 

Wonder what generates more revenue... a KWH spent mining BTC's or a KWH spent powering grow lights. PG&E should fund a study.

 

The biggest problem for a miner beside finding a cheap electricity location is when to cash out of the mined coins. Should I hold or should I go??? No easy answer, basically they have to be traders and selling at run ups. I am really curious how they do it, but it isn't like they are going to share...

 

maybe Russia.

 

I heard years ago one guy's hard drive crashed...No back up!! Fun fun fun...