20 sats \ 0 replies \ @nout 21 Apr 2022
And this is exactly what needs to be counted as overhead in maintaining mines...
At Bitcoin 2022 I was surprised that all the various companies offering me some mining products did not include this type of risk into their price calculations.
reply
37 sats \ 1 reply \ @shyfire 21 Apr 2022
This is just sanctions on a fiat contract between a us company (compass mining) and a Russian company (bitriver). The news here is that fiat is not censorship resistant.
reply
10 sats \ 0 replies \ @2big2fail 21 Apr 2022
unfortunately the country you live in can also throw you in jail. if you consider citizenship fiat then it is indeed a fiat problem. otherwise it is a problem with existing in the real world
reply
20 sats \ 0 replies \ @holzapfelbaum 22 Apr 2022
mining's Mt. Gox moment?
the people with miners in Compass facilities in RUS just got "Compassed"?
reply
20 sats \ 0 replies \ @creativowinder 21 Apr 2022
that is why you have to be careful where you are mining, since politicians are bipolar
reply
0 sats \ 0 replies \ @Ge 24 Apr 2022
Well if there is a head to cut off big govt will def find it....sucks for everyone that got Got....It's already a tad shady not hosting the miner yourself...now this kind of stuff happens makes one think of ways to avoid that and becoming that much more sovereign.
reply
0 sats \ 3 replies \ @BTCMiner 21 Apr 2022
Here's a post here on SN about the sanctions:
Treasure department sanctions russian bitcoin miners
#21425
https://home.treasury.gov/news/press-releases/jy0731
reply
0 sats \ 2 replies \ @BTCMiner 21 Apr 2022
reply
1 sat \ 1 reply \ @BTCMiner 21 Apr 2022
reply
20 sats \ 0 replies \ @kevkevin 23 Apr 2022
This is a nice way of saying you won't get your money back, Compass has done this with miners when there were issues getting the machines on at facilities, and the people who bought the miners took a loss. I understand its probably hard on Compass's side as well to do all this but if it's not your machine you're trusting Compass
reply