Is it illegal to mine bitcoin?

At present, it is not illegal to dig bitcoin, so it is not illegal. It is only because of the high mining cost and high power consumption that mining is not allowed in China. The main reason is that the high electricity consumption has caused great pressure on the social environment, so this policy will be introduced. Bitcoin mining machine is a computer used to earn bitcoin. This kind of computer generally has a professional mining chip, which works by installing a large number of graphics cards and consumes a lot of power. The rated power of each graphics card is about 250W, slightly overclocking is about 300W, 4 graphics cards 1200W W ... motherboard, CPU, hard disk, etc. , add up to no more than 200w display, mining machine basically does not need a display. The total power is about1400W. A computer used by bitcoin miners to earn bitcoin. This kind of computer generally has a professional mining chip, which works by installing a large number of graphics cards and consumes a lot of power. One of the ways to obtain bitcoin is to download mining software from a computer, run a specific algorithm and communicate with a remote server.

Legal basis:

Article 19 of the Regulations on the Prevention and Disposal of Illegal Fund-raising is suspected of illegal fund-raising, and the lead department in handling illegal fund-raising shall promptly organize relevant industry authorities, regulatory authorities and branches of the State Council financial management department to investigate and determine: (1) set up Internet enterprises, investment and investment consulting enterprises, various trading places or platforms, farmers' professional cooperatives, mutual funds organizations and other organizations to absorb funds; (2) Issuing or transferring equity and creditor's rights, raising funds, selling insurance products, or absorbing funds in the name of engaging in various asset management, virtual currency, financial leasing business, etc.; (three) in the sale of goods, services, investment projects and other commercial activities. Absorb funds in the form of promising to pay monetary, equity, physical and other returns; (four) in violation of laws, administrative regulations or the relevant provisions of the state, through the mass media, instant messaging tools or other means to publicly spread the information of absorbing funds; (5) Other acts suspected of illegal fund-raising.

Derivative problem:

Is it illegal to mine in China? Mining is not illegal, and the criminal law does not explicitly stipulate that mining is illegal, but the state does not advocate it. Bitcoin system consists of users (users control their wallets through keys), transactions (the transactions will be broadcast to the whole bitcoin network) and miners (blockchain is generated by competitive calculation at each node, and blockchain is a distributed public authoritative account book, which contains all transactions of bitcoin network).