A school principal has been sacked and all the staff under him has been sent for the investigation under the disciplinary committee for allegedly secretly mining digital currency on campus, which has caused thousands of dollars in power bill for the school. Since the beginning of time(i.e Since the year 2000) blockchain communitiy have had a significant impact on the society, across all the industries. But it is a matter of debate that which side - positive or negative, have had a bigger impact on society. There are many environmentalists who disregard the whole crypto mining community as the cause heavy consumption of power.
Lei hua, The principal of Puman Middle School in Chenzhou, of Hunan province, has had a wild idea when he decided to Mine Ethereum (Which is a type of Cryptocurrency) in June last year, FROM THE SCHOOL'S ELECTRICITY!
Ethereum which is the second largest coin on the index, has created massive trouble for the principal, as the school decided to sack the principle for this act. Hua began his venture last year, he first bought the mining set up which costed him around $1440. However the cost of electricity was way to high and electricity is THE most important resource without which mining any cryptocurrency is unsustainable. So for electricity he set up his rig within the school campus. Setting up the rig inside the school campus not only provided for free electricity but free internet as well!
Wang Zhipeng who was Lei's deputy was very impressed with Lei's success, which inspired him to buy his own rig and set it up inside school with Lei's approval. He moved the rig inside of the physics lab, and that has caused a whooping 2444 yuan electricity bill for the school campus.
At their peak of operation there were nine machines, which were running simultaneously for 24 hours a day and that started to cause strain in the school's electricity network and at one point the electric board almost caused a fire because of the rigs, Apart from that the school's internet in the classroom has became very slow.
A class teacher who was responsible for the school's infrastructure has became suspicious and had complained to the principal about the surging electricity bills, to which Hua cleverly defended by saying that it must have been the air-conditioning or the heating problem. It was only after a whole group of teachers had became suspicious and complained about the noises which came from the classrooms and the respective labs at the night hours. After being unsatisfied by the answers of the principal and searching the labs for themselves, the teachers discovered the mining rigs.
It has been reported that the profits obtained by the mining of cryptocurrency has been confiscated by the authorities, and the culprit has been dispelled from the school.
It should be noted that this is not the first time that a case like this has surface up the general public, Monero[XMR] and Ripple[XRP] has also experienced multiple cases of hacks, scams and much more.
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