Is mobile phone mining illegal? How serious is it?

Mobile mining is not illegal, but participation is not recommended.

Online mining is not illegal. Although Bitcoin investment is not recognized domestically, mining is a real operation. Bitcoin is an Internet product, so during the mining process , if you can get Bitcoin, you can get profits. The Central Bank of China issued an announcement in 2013 that all people need to bear their own risks when mining. Not everyone can make money by mining. After all, there is a lot of cost involved in mining. If If you don't master the skills, you will end up losing everything.

First of all, current mobile mining is "pretend mining". As a node of the blockchain, the mining machine needs to continuously perform certain calculations (different projects have different mining algorithms). This kind of 24-hour high-load operation itself is a huge damage to the mobile phone. If the mobile phone is really used for mining, it will be easily broken. At present, it is just pretending to mine, tapping the screen to collect profits, it is just a small game, and the mobile phone is not used as a blockchain node. If this "mobile phone mining" gimmick attracts attention and participation, some people will trust the project and invest. Basically, the final result will be no return.

In the past two years, various "get rich overnight" myths about blockchain have continued to unfold. "Mining" cryptocurrency has become a new trend of getting rich, and mobile phone mining has become more and more popular. . Real mining will have special mining machines. After all, every mining machine is not cheap now. Automatic mining on mobile phones can be obtained very cheaply. What you mine is not Bitcoin. You basically send it yourself. Altcoins are not worth anything either.

Legal Basis

"Public Security Administration Punishment Law of the People's Republic of China"

Article 70 Providing conditions for gambling for the purpose of profit , or who participates in gambling with a relatively large amount of money, shall be detained for not more than five days or fined not more than 500 yuan. If the circumstances are serious, he shall be detained for not less than 10 days but not more than 15 days, and shall also be fined not less than 500 yuan but not more than 3,000 yuan.