Miner Bitcoin got too big a bill and went to court

Miner Bitcoin Malta received the bill and immediately filed a lawsuit against the seller of the equipment. As reported by Malta Today, this man bought the device for mining from local firms 3 Group, but the total cost of electricity exceeded the value of BTC. So he filed a complaint with the Malta Tribunal for the settlement of claims of consumers.

According to the statement, he purchased the miner of unknown brand for 2900 dollars. However, the device just made noise and never turned a profit. The Director General Group 3 Dario Azzopardi did not contest the claim, and the court decided to return the buyer 2,240 USD. However, the story is not over, as Azzopardi not comply with the requirement of the Tribunal. So I received another warning.

Despite the fact that Dario Azzopardi received the notice of claim, which was the date and time of the hearing, at the meeting he was not. Moreover, CEO 3 Group does not give a written response not a complaint, as the law stipulates.

Accordingly, the Tribunal held that the seller is not going to challenge the claim.

However, according to the ruling, Azzopardi agrees to pay to the consumer the above-mentioned amount. In turn, mining-the unit must be returned to the seller.

Why the buyer of the miner won a court?

The difference between the market price of BTC and the cost of its production is a fundamental incentive for miners to support the work of the Bitcoin blockchain. Costs include not only maintenance of mining equipment but also the cost of electricity.

Source: 2Биткоина

In the algorithm of mining provides automatic adjustment of difficulty, which controls how difficult it is for miners to solve a certain set of mathematical problems. This mechanism is designed to ensure that the blocks in the blockchain mined evenly with a ten-minute interval. No matter how much computing power involved in the network.

See also: What is mining? Good luck in mining.

Given the greatly increased value of BTC, now any modern miner will operate at a profit. But if the device does not cover the cost of electricity, then it is faulty and this problem needs to be solved somehow. Apparently, so did the buyer of the ill-fated nouneym-miner.

In our cryptodata rich you will find a lot of other useful information.

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