Cryptocurrency

[AtW]

“Financial watchdog bans crypto exchange Binance from UK
FCA also issues consumer alert against sprawling cryptocurrency group

The UK’s financial watchdog has ordered Binance to stop all regulated activities in Britain and imposed stringent requirements in a stinging rebuke of one of the world’s biggest cryptocurrency exchanges.

The intervention by the Financial Conduct Authority in recent days is one of the most significant moves any global regulator has made against Binance, a sprawling digital asset firm with subsidiaries around the world.

The exchange has until Wednesday evening to confirm it has complied with the watchdog’s demands, and removed its advertising. The intervention is a sign of how regulators are cracking down on the cryptocurrency industry over concerns relating to its potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection.

The FCA also this weekend issued a consumer warning against both the Cayman Islands-registered Binance holdings company and Binance Markets Limited, a London-based affiliate that is controlled by chief executive Changpeng Zhao and is overseen by the UK regulator. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said, adding, “no other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.”

https://www.ft.com/content/8bc0e5e0-...5-acccaffaee87

They are dragging their feet on banning Scooter

[AtW]

Or you treat it like the lottery, you mine for years hoping to hit the jackpot. Current mining reward is 6.25 BTC I think, so that could be quite a lot of money for a permie if the miner is lucky.

Cheaper, easier and quicker to buy lottery tickets

[_V_]

You make rig join pool, obviously

Or you treat it like the lottery, you mine for years hoping to hit the jackpot. Current mining reward is 6.25 BTC I think, so that could be quite a lot of money for a permie if the miner is lucky.

[AtW]

You make rig join pool, obviously

[DealorNoDeal]

For anyone who's interested, coins which can still be mined from home:

https://bravenewcoin.com/insights/cr...-home-computer

[DealorNoDeal]

Forget the idea of mining Bitcoin at home. It's a total non-starter.

I don't understand the details (obviously, doh!) but it's extremely unlikely you'd ever earn anything with a single rig, even if you left it running for decades. Apparently, you don't get any reward from mining until you've done enough computation to receive 6.25 BTC (over $200,000). This is why mining pools have been set up; to allow individuals to still participate.

I suppose there may be other coins which are easier to mine, where you could receive regular rewards with a single rig.

[d000hg]

Still waiting on CryptoPanels... solar panels with in-built mining chips which use any spare capacity. Totally modular, the more panels you have the more you make

Was it one of Elon's companies that makes solar roof tiles?

[AtW]

Obviously, you would only have it on from say October to April.

Yes, naturally and run it 1/3 of the time for when you are at home (pre-Covid era)?

So the (expensive!) equipment will work half of 1/3 time. Plus it will be fecking loud.

A much better solution is to round up all the miners on Chinese stadiums and solve this problem once a for all.

[d000hg]

You're kidding right?

3.4kW is nearly 12,000 btu, which would be a whopping radiator. And there is another difference. The mining rig would be pumping this out constantly 24x7.

Obviously, it would be a single heat source, making it difficult to heat an entire house. However, some people, in smaller homes, manage with just a log burner and a big enough rig could definitely replace one of those.

Sorry I missed this was some sort of big rig I was picturing smaller ones scattered around the house, microservers or whatever.

You could, I suppose, use this to heat up your CH if you could really be bothered. Sink it in an oil bath with a heat exchanger or something

As said, you only want to run it in winter though.

[DealorNoDeal]

So that's waste 2/3 of the time then, especially in hot summer.

You are trying to put lipstick on a pig instead of using an apple.

Obviously, you would only have it on from say October to April.

At least it would be better than most mining where TWh of electricity are just being wasted pumping heat into the atmosphere.