Norton 360 Crypto Miner - What do you think?

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SantaFeBill Veteran Member • Posts: 3,133
Norton 360 Crypto Miner - What do you think?
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Norton is adding a cryptocurrency miner to Norton 360.

https://www.theguardian.com/technology/2021/jun/03/antivirus-firm-norton-to-offer-cryptocurrency-mining

I think it is irresponsible. Here's why:

There will be an increase in energy usage.

That, given global warming, is irresponsible in itself. But there are other consequences.

1) Increased wear on your computer components.

2) Given the wild and unpredictable swings in cryptocurrency values, users will suffer unexpected losses. If they have depended on the value of their crypto wallet for significant financial planning, they could be in financial difficulty. By presenting this mining as a 'no thought' and safe activity, Norton is inviting people to expose themselves financial risks of which they are likely unaware and are not being encouraged by Norton to be aware.

3) There are tax consequences to gains in value in cryptocurrencies. I wonder how many individuals who do their own taxes will be aware and equipped to handle what is still an unclear area. I wonder how many professional tax preparers whose practice is centered on individuals and/or small businesses are equipped. Is Norton going to make it clear to users that they need to deal with cryptocurrency values in their tax returns? If not, again, that is irresponsible.

4) By dedicating resources to this effort, Norton has dedicated time and energy to something that does not increase users' security at all. Just the opposite. It is dedicated to Norton profits. Norton can then increase the price of Norton 360 because of the added 'feature.' Also, Norton will likely receive a commission on the trades, which I gather will be made through their polled resource site. I've read the commission is typically 1%. That might not sound like much, but if you consider the number and value of trades ... .

I'm particularly interested in reactions from those, who, like myself, like and use Norton.

If Norton continues to implement this, would you consider changing to a different program?

P.S. Please don't change this into a general debate as to whether Norton is a good or bad program aside from this added 'feature'. That's not the point of my post. I won't respond to such posts.

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