Police arrest two men for mining Bitcoins in Shangla

[War Thunder]

It is a professional Setup

Bitcoin farming is not illegal

Hundred / Thousand of such farms exist in USA and globally
It is 100% Legal service

World wide people are investing and benefiting from Boom in Coin Trade world wide Pakistan as always is stuck in 1950 because they simply do not understand technolgy

Well digital (crypto) and paper currency are haram anyway for any person with a bit of intellect.
Call it Allah's punishment.
Nothing befalls a person which Allah did not want, and nothing escapes him which Allah approved.

Not to forget crypto currencies are all used to finance illegal stuff be it buying selling shit on darkweb.

 

[AZADPAKISTAN2009]

Well bitcoins are used on Mobile phones already and no one can stop that trend

 

[El Sidd]

Well bitcoins are used on Mobile phones already and no one can stop that trend

i think you should be lured into by some amnesty bitcoin scheme and once all Pakistanis register their bitcoins. Have them declared haram and confiscate them and spend it in Ehsas Program.

This is what i recommend.

 

[HAIDER]

Bitcoin is not illegal

Bitcoin farming is simply the users setup Servers with IP , which help with the processing of Transaction happening worldwide , as a thank you for their services Bitcoin offers them a free "Coin" payment

The computation / processing can happen on any million of systems located world wide , if it happen to be at their Computer , they get a reward of 1 coin. They use that cover their cost of internet fees and cost of equipment

If anything these Gentlemen were innovators who are exploring the financial transaction market which is done worldwide

Bitcoin farming is a service , like for email you may use Google or Hotmail

• This news is a proof that Pakistan has no clue about IT future and present

• World wide Innovators are winning $$$ for Investigating Bitcoin

World Wide , the western users are dominating the Bitcoin sector while Pakistan is closing down people are investing in technology


The paper currency is already being replaced by Digital Coins , in Mobile platform
Stupid that Pakistan has no idea how to deal with growth in Digital Coin sector

It's Worldwide crackdown,because crypto been using for terror financing , drug dealers etc etc. There is heavy clause in FATF and anti terror law.

 

[ps3linux]

@ps3linux

Look at their setup.

Thanks I am still mulling over wtf had it to do with this stupid/corrupt police, they purchased the hardware, must have bought bandwidth from PTCL from the setup the electricity seems legitimate. They invested seriously to lend their machine in solving complex mathematical equations in return they earned bitcoins, whihc is what is happening across the globe what was illegal about it.

Task this stupid/corrupt bureaucracy to screw the nation and they are at their best, task them to give or*l to political masters they are at their best, task them to find avenues for corruption they are at their best, task them to find avenues in increasing their emoluments and they are absolutely best in the world, now task them to solve problems of Pakistanis well we know how it is...

 

[Sine Nomine]

Thanks I am still mulling over wtf had it to do with this stupid/corrupt police, they purchased the hardware, must have bought bandwidth from PTCL from the setup the electricity seems legitimate. They invested seriously to lend their machine in solving complex mathematical equations in return they earned bitcoins, whihc is what is happening across the globe what was illegal about it.

Task this stupid/corrupt bureaucracy to screw the nation and they are at their best, task them to give or*l to political masters they are at their best, task them to find avenues for corruption they are at their best, task them to find avenues in increasing their emoluments and they are absolutely best in the world, now task them to solve problems of Pakistanis well we know how it is...

When i look at them and listen to them,deep in my heart i say that we are doomed for sure.

 

[Yaseen1]

i think they are only arrested for not paying taxes or bribe to authorities otherwise there are many more people doing much illegal and corrupt practices who have linkage with politicians

 

[Rasengan]

It is just lack of Understanding , Pakistan is backward nation in term of Technology Adoption
Only thing they do is buy TV/LCD setts and electronics

The role of Banks and Intermediatories will be gone in next 10-20 years that is where the market is heading

Various coins are traded publically world wide

Bitcoins can be exchanged for Real Money at ATM or many e-commerce sites allow you to buy and sell in Coins

View attachment 601616

Currently I don't trade cryptocurrencies but I do know they will cause a positive disruption in the financial industry in the long term. Pakistan as usual lives in a bygone era so does the rest of the Muslim world. Blockchain in general will have a significant impact on how we conduct our payments, transaction settlements, registries, and document storage systems. Pakistan needs go with the international flow so that Islamic products such as takaful, Islamic capital markets, media rights, property rights and trademark protections can meet the challenges of the 21st century.

 

[Zane_K]

Bitcoin is not illegal

Bitcoin farming is simply the users setup Servers with IP , which help with the processing of Transaction happening worldwide , as a thank you for their services Bitcoin offers them a free "Coin" payment

The computation / processing can happen on any million of systems located world wide , if it happen to be at their Computer , they get a reward of 1 coin. They use that cover their cost of internet fees and cost of equipment

If anything these Gentlemen were innovators who are exploring the financial transaction market which is done worldwide

Bitcoin farming is a service , like for email you may use Google or Hotmail

• This news is a proof that Pakistan has no clue about IT future and present

• World wide Innovators are winning $$$ for Investigating Bitcoin

World Wide , the western users are dominating the Bitcoin sector while Pakistan is closing down people are investing in technology


The paper currency is already being replaced by Digital Coins , in Mobile platform
Stupid that Pakistan has no idea how to deal with growth in Digital Coin sector

Exactly..

Bitcoin is not illegal

Bitcoin farming is simply the users setup Servers with IP , which help with the processing of Transaction happening worldwide , as a thank you for their services Bitcoin offers them a free "Coin" payment

The computation / processing can happen on any million of systems located world wide , if it happen to be at their Computer , they get a reward of 1 coin. They use that cover their cost of internet fees and cost of equipment

If anything these Gentlemen were innovators who are exploring the financial transaction market which is done worldwide

Bitcoin farming is a service , like for email you may use Google or Hotmail

• This news is a proof that Pakistan has no clue about IT future and present

• World wide Innovators are winning $$$ for Investigating Bitcoin

World Wide , the western users are dominating the Bitcoin sector while Pakistan is closing down people are investing in technology


The paper currency is already being replaced by Digital Coins , in Mobile platform
Stupid that Pakistan has no idea how to deal with growth in Digital Coin sector

I was quite impressed with their set up.. I would’ve been well happy if I had that running..( and yes I would’ve paid my electricity / gains tax)
The authorities were obviously more concerned with the clients of that operation,
that’s if they’d been offering a bitcoin buy / sell platform and if attempts were made at hiding ill gotten gains / tax avoidance / potential funding of ‘ terror ‘ networks.

 

[El Sidd]

Nerds won't survive jail

 

[El Sidd]

Nerds won't survive jail

So you believe government should confiscate all of them to tackle the recession?

Yes. It is possible as government recently had all data collected from the nationals under the scheme of asset recovery which is unconstitutional.