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What are the costs of mining Bitcoin on a mobile phone? (Is mobile Bitcoin mining illegal?)

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What are the costs of mining Bitcoin on a mobile phone? According to cointelegr

What are the costs of mining Bitcoin on a mobile phone? (Is mobile Bitcoin mining illegal?)

What are the costs of mining Bitcoin on a mobile phone? According to cointelegraph, recent reports from Bloomberg indicate the costs of mining Bitcoin on a mobile phone. This report was conducted by analysts from the London Laboratory for Data Science and Artificial Intelligence (L)>R+D>. According to the survey, individual users using Samsung hardware devices paid over $600 million in investments between May and July 2019, with the majority of these investments coming from Chinese investors.

In addition, the average income from purchasing cryptocurrencies through mobile phones is about $1, but currently this number is only around $3.

Is mobile Bitcoin mining illegal?

Recently, the National Internet Information Office issued a “Risk Warning on Preventing Virtual Currency Trading under the Pretext of ‘Mining’ and ‘Speculation'” stating that the use of mobile phones for Bitcoin and other virtual currency-related activities is suspected of being illegal. Experts suggest the following: Firstly, strengthen security technology management and punish illegal financial activities and behaviors. Secondly, establish a sound legal system to protect the legal rights and interests of individuals, and resolutely oppose companies or individual businesses using mining equipment to engage in investment activities through telephone, internet, or other means of payment for electricity or cryptocurrency exchange services under certain conditions. Thirdly, it should be noted that mobile Bitcoin mining cannot be confiscated as evidence of criminal activity like the internet.

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