The longest sentences for bitcoin crimes

1. Because bitcoin is legal in China, the central bank defines it as a special Internet commodity. Zhou Xiaochuan, the governor of the central bank, believes that bitcoin, like stamps, is a tradable asset. Bitcoin home has a full text interpretation. If the dispute caused by the station closing does not involve fraud or cannot be proved to be fraud, it can be solved through negotiation, and the victim's fund can be returned and the corresponding compensation can be made. If there is evidence to show that this is indeed fraud, the consequences will be serious. If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined or be sentenced to confiscation of property More than 500000 is a huge amount.

2. Generally, they won't go to jail. They are talents that the state will reuse

3. Whoever swindles public or private property, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance and shall also, or shall only, be fined; If the amount is huge or if there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years and shall also be fined; If the amount is especially huge or if there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined or have his property confiscated.

4.

It's not against the law

The laws and administrative regulations in China do not prohibit the proction, holding and legal circulation of bitcoin, nor do they prohibit the sale of bitcoin mining machines

2. The investment and transaction of "virtual currency" represented by bitcoin are on the rise. For this kind of virtual goods generated in the Internet environment after the development of Internet technology, there are policy and commercial risks in related transactions. However, under the premise of not violating the mandatory provisions of laws and administrative regulations, the contract signed by the parties is a valid contract

3. Bitcoin is generated by "miner" and "mining", and "miner" can be assumed by anyone in any place in the world. "Mining" is a process in which "miner" provides certain computer computing power according to the open source software provided by the designer, and obtains the special solution of the equation through complex mathematical operations, The miner who gets the special solution gets a certain amount of bitcoin reward

Because bitcoin is based on workload proof, it is related to computing power. To have computing power, we need to consume power, so its power consumption is very large. It is precisely because of such a large power consumption that the safe and stable operation of bitcoin system can be guaranteed

extended information:

according to the data of btc.com website, up to now, the computing power of the whole bitcoin network is about 51.65 eh / s, which is equivalent to 1.84 million bitcoin S15 (28T computing power, 1596w power) mining machines in operation, and the daily power consumption is about 69.92 million kwh. Divided by the current proction of 1800 bitcoins per day, excluding other costs, each bitcoin will consume 38800 kwh of electricity. "

from this point of view, although the current price of bitcoin is expensive, the cryptocurrency market website coinmarketcap.com shows that the current unit price is about $7900, but the cost of mining a bitcoin is not low at all

5. The former bitcoin is less and less, and it is more and more difficult to find. It is said that those who really dig for coins will use high-end or even the top graphics card SLI or CF, and the power consumption of the host computer is amazing (the electricity bill may be more expensive than the bitcoin g).

6. Whether bitcoin is legal or not depends on the attitude of monetary authorities
the further development of bitcoin may threaten the interests of traditional currencies, and currency issuers will not cede their rights to an open-source P2P algorithm. So governments are likely to outlaw bitcoin
once governments declare it illegal, it may cause huge fluctuations in its price in the short term. It could be a crash, it could be a surge. Because people at the bottom of the world are obviously resistant to their governments< At the same time, the ban by the government will lead to the closure of bitcoin trading platform. After the closing of the trading platform, bitcoin can only be cashed in private, which will have a great impact on its cashing ability< However, e to the characteristics of bitcoin itself, it provides an excellent channel for officials of various countries to accept bribes, launder money and transfer assets overseas. Especially in the trend that officials of various countries disclose their property, bitcoin provides a good way for them to hold huge property anonymously
from this perspective, some officials may actively promote the legalization of bitcoin< On May 7, 2013, officials from the US Commodity Futures Trading Commission (CFTC) said that they were considering whether the online virtual currency "bitcoin" could be applied to the agency's regulations. CFTC is the highest regulator of the derivatives instry in the United States. Bitcoin is known as a currency independent of traditional authority, and if it is regulated more, it may bring challenges to its supporters
CFTC mainly supervises derivatives contracts. Its responsibilities have been greatly expanded after the financial crisis in 2007-2009, and it also has full power to supervise retail foreign exchange dealers
Bart Chilton, one of the five members of the CFTC, said on Monday that he had asked the committee to consider regulating bitcoin to determine whether consumers need additional protection when using bitcoin[ 15]
the Hong Kong government has approved GBL electronic currency trading center to operate virtual currency exchange business, which will be an important milestone in the development of bitcoin. GBL virtual electronic currency trading center has completed the equity change and has the business scope of virtual electronic currency exchange business.

7. There must be fraud in digital currency investment. It's better to find formal institutions to invest, and don't trust high returns.

8. Virtual currency does not belong to electronic currency. There's a bit of a similarity. E-money is the electronic circulation of money, that is to say, the fundamental nature of e-money and money is the same. Virtual currency, from the beginning of q-coin game currency to the present bitcoin, bcbot and other digital currencies, belongs to virtual currency, which belongs to the activity of decentralization that has not been recognized, although digital currency also has some attributes of electronic currency.

9. This matter will not be sentenced, because I will not take bribes so much bitcoin, if I will, I will also hide it tightly, I do things, you can rest assured, safety always in mind. The age of bitcoin starts with Avalon!

10.

when it comes to bitcoin, I don't know which country has money. People with some knowledge know that bitcoin is actually a virtual currency. In 2008, after the global financial crisis, a person who called himself "Zhongben" created a virtual currency "bitcoin"blockchain or P2P bitcoin. Unlike all other currencies, bitcoin has no specific currency issuer< therefore, if bitcoin is used maliciously, it is likely to be used by others, which is likely to have a huge impact on the domestic economy. Therefore, for the sake of security, many countries do not recognize the legitimacy of bitcoin

the advantages of blockchain are openness, simple review and high reliability. For example, there are now four people in business: A, B, C and D. A gives B money. Before B pays C, B must "package" the transaction between a and B and give it to C together, so that B can be considered to have completed a transaction similarly, before C and D transactions, it is necessary to package the transactions between a and B and between B and C and D“ "Package" will reward traders with one bitcoin at a time. Due to the special trading mode of bitcoin, bitcoin is deeply loved by some people. According to statistics, since the official birth of bitcoin, it has completed 11 trillion dollar transactions! In other words, from 2009 to 2019, a total of 11 trillion US dollars have been transferred through bitcoin. What we need to know is that U.S. Treasury bonds are about 22.5 trillion yuan. That is to say, bitcoin has such huge energy. In about 10 years, bitcoin has transferred half of U.S. Treasury bonds. Why don't countries recognize its legal status? The first reason is the problem of "black instrial chain". Because of the particularity of bitcoin, it is easier for some people in the "black instry chain" to use it. I believe everyone knows its purpose