Malaysian police flatten Bitcoin equipment

[P4-630]

Police in the Malaysian city of Miri have bulldozed an estimated $1.6 million worth of Bitcoin equipment.
Miri's police chief, Hakemal Hawari, told local news site Dayak Daily that a total of 1,069 Asic miners have been seized in six different raids.

These interventions have led to the arrest of six people, all charged with stealing electricity.
The illegal activity resulted in a fine of $1,900 and a prison sentence of up to eight months.

It is not known why the Asic miners are not recycled.
If sold, the most likely customers would be such Bitcoin miners or may end up with criminals who use the hardware for the same illegal activities.

 

[FireFox]

Nice the way they destroy their Hardware, love it
This should happens more often.

 

[delshay]

They would have taken all this into account, so they made a profit. What the hell, buy lots of junk PC, console & dump them on electricity network seems to be getting common.

 

[eidairaman1]

Good riddance, now just to kill mining on gpus.

 

[Rithsom]

As someone who hates mining, these pictures are delightfully satisfying to see. I would have loved to drive that steam roller myself.

 

[lexluthermiester]

Good riddance, now just to kill mining on gpus.

The conversion to Proof of Stake will soon do this for ETH. As for the rest of the GPU based coins, rumors are that they will soon be following suit in one form or another as they don't want to face problems with the governments of the world over power usage..

 

[thesmokingman]

Nice way to start the morning with my cup of joe.

 

[Space Lynx]

They would have taken all this into account, so they made a profit. What the hell, buy lots of junk PC, console & dump them on electricity network seems to be getting common.

its been common for many years, most just never get caught or the operation is small enough not to notice. I would bet money there are a lot of people who have office or warehouse office jobs and no one ever goes into their office ever... and they get away with mining a couple gpu's 24/7, sure not a lot, but it adds up. also 8 months prison time is not enough to deter them from the future of doing it again. or others like them.

The conversion to Proof of Stake will soon do this for ETH. As for the rest of the GPU based coins, rumors are that they will soon be following suit in one form or another as they don't want to face problems with the governments of the world over power usage..

the ETH creator (forget his name) already delayed proof of stake (I believe until early 2022, but who knows for how long) to my knowledge... saw him on a podcast recently... sure does seem convenient to keep delaying it...

the world is burning and flooding with no end in sight, and the miners (both the digital and non-digital kind) can't stop mining. humans had their chance, they blew it. I expect we will see a mass extinction event within our lifetimes sadly. most likely due to flash floods, or droughts or both causing mass crop failure. it only takes a few years of halving the crops we produce to really end us ( would cause enough instability to end entire economies to fail)... we have no backup plan for food as the pandemic empty grocery stores recently taught us, lol

Nice way to start the morning with my cup of joe.

wait until you read my cheery posts

 

[Bones]

Should have happened sooner and more often too.

 

[pantherx12]

What a waste of resources.


Each of the fans on those ASICS is like £60-£100 a piece.

 

[Space Lynx]

What a waste of resources.


Each of the fans on those ASICS is like £60-£100 a piece.

Agreed, they could have parted it all out and donated it to local schools. What they did accomplished nothing. 8 months in jail is laughable. Those miners will be laughing with their hidden wallets in 10 months from now and start all over again somewhere else. 3 years minimum should be the sentencing.

 

[lexluthermiester]

the ETH creator (forget his name) already delayed proof of stake (I believe until early 2022, but who knows for how long) to my knowledge.

Interesting, did not know that. Last I read, the conversion had already begun.

 

[Tomgang]

Yes another victory for getting rid of mining. It's a polluting and power hungry way to make money. It hurts the planet and it hurts the market as well. For not to mention, it hurts us gamers wanting a freaking gpu to MSRP. I do know mining is not the sole reason for the price of gpu, but it is a factor to the skyrocketing prices. Do to greedy people. For not to forget Ghia mining making large capacity SSD and hdd far more expensive as well than they shut be.

So seing this, makes me smile.

I hate everything that has to do with crupto currency. Down with crypto, down with ethereum and all that has to do with crypto.

 

[dgianstefani]

its been common for many years, most just never get caught or the operation is small enough not to notice. I would bet money there are a lot of people who have office or warehouse office jobs and no one ever goes into their office ever... and they get away with mining a couple gpu's 24/7, sure not a lot, but it adds up. also 8 months prison time is not enough to deter them from the future of doing it again. or others like them.



the ETH creator (forget his name) already delayed proof of stake (I believe until early 2022, but who knows for how long) to my knowledge... saw him on a podcast recently... sure does seem convenient to keep delaying it...

the world is burning and flooding with no end in sight, and the miners (both the digital and non-digital kind) can't stop mining. humans had their chance, they blew it. I expect we will see a mass extinction event within our lifetimes sadly. most likely due to flash floods, or droughts or both causing mass crop failure. it only takes a few years of halving the crops we produce to really end us ( would cause enough instability to end entire economies to fail)... we have no backup plan for food as the pandemic empty grocery stores recently taught us, lol



wait until you read my cheery posts

Deep adaptation by Jem Bendall https://guidance.deepadaptation.info/

 

[maxfly]

Obviously not the brightest of the bunch being that they didnt have the foresight to payoff the local cops. Losing that much gear is going to hurt no matter how much loot they managed to squirrel away. Definitely a good laugh!

 

[Deleted member 24505]

$1900 fine how much did they make from mining i wonder.

 

[lexluthermiester]

$1900 fine how much did they make from mining i wonder.

To be fair, the $1900 fine was on top of seizure and destruction of the offending equipment and very likely bank accounts being seized. The total cost to the perps was very high. Those ASICs that were steam-rolled? Easily $750,000 worth of equipment, if not more.

 

[ShiBDiB]

Do ASIC's have any use outside of coin mining? Like using them for folding or some other research support?

Mining is a problem but I feel like this publicity stunt could have been better handled.

 

[Mescalamba]

So, instead of selling confiscated goods, using money for some good cause, they destroy it, cause why not.

Governments all over the world are about same, dumb as fuck and only caring for themselves, never for the people.

 

[Space Lynx]

Deep adaptation by Jem Bendall https://guidance.deepadaptation.info/

We'll see how much crap you are talking when the moon wobble starts flooding all your cities and causes mass economic collapse overnight, I hope you have a good supply of food stocked then.

NASA: Moon "wobble" in orbit may lead to record flooding on Earth

A wobble in the moon's orbit will raise high tides even higher, exacerbating the devastating effects of sea-level rise.

www.cbsnews.com

To be fair, the $1900 fine was on top of seizure and destruction of the offending equipment and very likely bank accounts being seized. The total cost to the perps was very high. Those ASICs that were steam-rolled? Easily $750,000 worth of equipment, if not more.

they probably divested some of their wealth in cold wallets hidden away at various places to offset the inevitable knowledge they might be seized at some point, so eh. unless they were truly incompetent, but I doubt it.

 

[freeagent]

I would have pulled the fans off.. just sayin..

 

[moproblems99]

the world is burning and flooding with no end in sight, and the miners (both the digital and non-digital kind) can't stop mining.

Good thing we just spent $100 million on a mayoral primary!

Those ASICs that were steam-rolled? Easily $750,000 worth of equipment, if not more.

Police in the Malaysian city of Miri have bulldozed an estimated $1.6 million worth of Bitcoin equipment.

Guess you didn't read the material again.

 

[Space Lynx]

Good thing we just spent $100 million on a mayoral primary!

Indeed. It's rather mindblowing... how foolish we are as a species... capable of so much, yet so little. Our greatest ironic contrast.

 

[moproblems99]

Indeed. It's rather mindblowing... how foolish we are as a species... capable of so much, yet so little. Our greatest ironic contrast.

What's even better? All $100 million was just printed lies. At least mining filters back into the economy and does some good. For instance, the $15k I made from day trading (didn't even have to touch my stash), I used to buy a GPU, a twin turbo kit, 4 bottles of $200+ liquor. Where as, gaming? Does nothing good for the economy, all it does it corrupt the minds the youth so they can rape, murder, pillage like the GTA series. Those are just the ones that get motivation. The rest of em just sit on the couch and let Mommy and Daddy buy everything.

 

[lexluthermiester]

unless they were truly incompetent, but I doubt it.

They got caught, how smart could they be?