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cheech14 t1_j9vzl71 wrote

What were his gain$ on the $18k of electricity?

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Master_Dogs t1_j9yirc2 wrote

Probably quite a bit. November 2021 is around the peak for Bitcoin prices and it was relatively high for others too. Assuming it was running for a few months before, you'd probably have made a decent chunk with a dozen or so computers mining 24/7 for "free".

$18k of electricity is also just the running costs. The photo in the article shows at least a dozen computers of sorts, each of which likely required a few hundred to a few grand in computer parts to successfully mine crypto. I'd assume they still profited after purchasing/acquiring all of the computers though, since the electricity costs are usually the killer for crypto mining.

IDK what computers/devices they were using though. NiceHash says some of the top ASIC miners today could be making $29 USD per day. The top one is like a $7k device though. But assuming this guy dropped his life savings in this scam, maybe he managed to generate a few grand a month. Since $29 * 12 * 30 is like $10k, so maybe a few months of secret mining got him his investment back and he pocketed a chunk of change. And that's with the current crypto pricing slump - Bitcoin has dropped by like 3x since November 2021. So maybe this guy made upwards of $30k/month if he had the right mining hardware and the price of crypto in his favor.

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devAcc123 t1_j9zl6mj wrote

dropped by 3x is a funny way of putting it lol

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StumpyMcStump t1_j9w50rs wrote

Computers that “seemed out of place”. No, entirely usual to have 40 pcs in a crawlspace in a school.

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PuritanSettler1620 t1_j9w3k9y wrote

imagine stealing from a school district to make fake money.

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aVeryLargeWave t1_j9y9hl4 wrote

You can exchange crypto for real money? That's like saying "imagine stealing diamonds, just a bunch of pressed coal".

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GiantSlippers t1_j9y0djz wrote

Guy was gonna move to El Salvador where bit coin is their currency and legal tender. It's how you make money real!

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BasilExposition75 t1_j9x43v5 wrote

They pay their employees in fake money too. Just numbers on a computer.

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RhaenyrasUncle t1_j9w6lbk wrote

This the kind of shit people said back in like...2010, when someone tried to give them 10,000 bitcoins for a slice of pizza.

Dont be that guy.

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Nobel6skull t1_j9wn3fr wrote

It was fake money in 2010 and it’s fake money now.

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HoneydewOk1731 t1_j9xbyob wrote

All money is fake dingus. Some just have more believers than others

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charons-voyage t1_j9y1ett wrote

Thing I never understood about crypto is everyone says it an alternative to fiat money, but…everyone buys it with $, then watches with the intent to make more $, then sells for $ (or goes bankrupt lol). So if the whole point is making $, why not go to casino or invest in actual stocks of real companies with tangible products? 🤷‍♂️

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Nobel6skull t1_j9zkc9x wrote

Your all money is fake schtick underlines your stupidity. Bitcoin is a scam you got suckered into, it can happen to anyone. just move on.

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TheAVnerd t1_j9wkzfj wrote

The real fucking criminal here is the power companies

“Where Cohasset is located in the Boston area, “electricity costs have exceeded the national average” by at least 48 percent over the past five years, the US Bureau of Labor Statistics reported.”

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InThePartsBin2 t1_j9y1xnx wrote

That'll happen when all plans to boost capacity and transition to clean energy get blocked by NIMBYs.

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Ill-Poet-3298 t1_j9yas5r wrote

>Then, CPD called the US Coast Guard Investigative Service

Who knew the Coast Guard were crypto experts.

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ForwardBound t1_j9z0m17 wrote

You'd be surprised who's a crypto expert. My cousin and several Uber drivers I've had are also really into it and I never would have known if they hadn't told me immediately.

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swap_catz t1_j9ymevh wrote

Was joking with my wife a few weeks ago how in 15 years you're going to see tv shows called Crypto Heist instead of Money Heist. The implausibility of Money Heist today is that banks don't make or keep real paper money anymore. The implausibility of Crypto Heist will be how the thieves will violate the laws of physics and computer science, and somehow no one will notice the electricity bills being jacked up 2-3x for months.

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IrelandDzair t1_j9yltqm wrote

someone come get the south shore they’ve been absolutely off their rocker lately especially Cohasset

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PeePooDeeDoo t1_j9xdb4e wrote

Not the hero we need but the one we deserve 😔

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RhaenyrasUncle t1_j9vwkay wrote

Free my man he didnt do nuthin.

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