Kuala Lumpur: Want to be called an ‘instant millionaire’ through cryptocurrency mining activities so willing to steal electricity supply so that mining machines can be turned on 24 hours without incurring high electricity costs.
In fact, the irresponsible act also caused Tenaga Nasional Berhad (TNB) to be understood to have to bear a loss of almost RM1 billion between 2018 and 2020.
The situation is believed to have occurred because the current exchange rate of crypto currency is the highest in history when recording 1BTC which is almost equivalent to RM230,000.
The trend of rising exchange rates is seen to continue for the next few months, thus affecting the computer hardware industry, especially for the supply of graphics processor units (GPUs) in the market.
Basically, the more mining machines there are, the higher the chances of being rewarded as a result of the solution of complex computing processes that take place in virtual space.
These digital currency miners will be rewarded with a certain value when able to solve a complex computational computation problem called Blockchain.
President of the Malaysian Cyber Consumers Association (MCCA) Siraj Jalil said the digital money mining process involved a very complex computational calculation process.
“The process actually takes 24 hours and each of these crypto miners will solve computing problems.
“It is like solving a crossword puzzle virtually through the processing power of a miner (miner) and the reward will be given in the form of a crypto currency to the owner of the crypto account who successfully solved the problem,” he told Harian Metro, yesterday.
He said the device consists of a graphics processor unit (GPU), power supply (PSU) and motherboard to implement the computing solution process.
He said, if a miner has more machines, then the computing solution becomes easier when compared to users who only rely on one mining machine.
“For example, if an individual uses a high-performance GPU worth thousands of ringgit, it only represents about 0.001 percent of computing power.
“In simple language, the more these appliances are used, the higher the chance of reward and the higher the cost of electricity supply that has to be borne.
“If there are parties who state that the method allows them to become ‘millionaires’, it is not as easy as that because it involves many aspects including competition between virtual miners,” he said.
Source: utama by www.hmetro.com.my.
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