Current Events > Malaysian police destroy 1,000 bitcoin mining rigs with steamroller

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Antifar 07/19/21 9:47:59 AM #1:	https://nypost.com/2021/07/19/malaysian-police-destroy-1k-bitcoin-mining-rigs-with-steamroller/? Malaysian cops seized and destroyed 1,069 bitcoin mining rigs by crushing them with a steamroller after the miners allegedly siphoned off almost $2 million worth of electricity to power the energy-intensive machines. The machines, which were estimated to be worth about $1.25 million, were seized in a joint operation carried out by police in the city of Miri and electric utility company Sarawak Energy between February and April, according to a report from the Malaysian National News Agency. A video of the steamrolling posted last week by local news outlet Dayak Daily has made the rounds on social media. Six people were arrested for electricity theft in the operation, and have been fined almost $2,000 as well as jailed for up to eight months, according to a statement from Miri police chief ACP Hakemal Hawari that was quoted by local outlets. The theft of electricity to power bitcoin mining operations has been a persistent issue across the world, especially since the price of bitcoin skyrocketed earlier this year to more than $60,000 per coin. So-called Bitcoin mining involves using computers to solve complex math problems in an effort to be rewarded with freshly minted units of the popular cryptocurrency, which was worth around $31,300 per coin as of 6 a.m. Monday. In May, British cops stumbled upon a bank of around 100 bitcoin mining rigs at a site police had been told was a marijuana farm. The site had stolen thousands of dollars worth of electricity to power its operations, police said at the time. In Malaysia, electricity theft to power bitcoin mining operations has become an increasingly urgent issue for authorities. The electricity theft for mining bitcoin activities has caused frequent power outages and in 2021, three houses were razed due to illegal electricity supply connections, the Miri police chief told local outlets. Critics of cryptocurrencies, and Bitcoin especially, have taken aim at the mining process, saying that the demand for energy is exacerbating climate change. Some governments, including that of China, have cracked down on mining operations in the country, citing the environmental impact as well as the potential for cryptocurrencies to disrupt the established financial system. Still, demand for computers capable of carrying out the process is surging as speculators look to cash in on cryptocurrency. --- kin to all that throbs <cite>Antifar posted [p:956239491] in Malaysian ... [t:79572204]...</cite> <quote>https://nypost.com/2021/07/19/malaysian-police-destroy-1k-bitcoin-mining-rigs-with-steamroller/? <quote>Malaysian cops seized and destroyed 1,069 bitcoin mining rigs by crushing them with a steamroller after the miners allegedly siphoned off almost $2 million worth of electricity to power the energy-intensive machines. The machines, which were estimated to be worth about $1.25 million, were seized in a joint operation carried out by police in the city of Miri and electric utility company Sarawak Energy between February and April, according to a report from the Malaysian National News Agency. A video of the steamrolling posted last week by local news outlet Dayak Daily has made the rounds on social media. Six people were arrested for electricity theft in the operation, and have been fined almost $2,000 as well as jailed for up to eight months, according to a statement from Miri police chief ACP Hakemal Hawari that was quoted by local outlets. The theft of electricity to power bitcoin mining operations has been a persistent issue across the world, especially since the price of bitcoin skyrocketed earlier this year to more than $60,000 per coin. So-called Bitcoin mining involves using computers to solve complex math problems in an effort to be rewarded with freshly minted units of the popular cryptocurrency, which was worth around $31,300 per coin as of 6 a.m. Monday. In May, British cops stumbled upon a bank of around 100 bitcoin mining rigs at a site police had been told was a marijuana farm. The site had stolen thousands of dollars worth of electricity to power its operations, police said at the time. In Malaysia, electricity theft to power bitcoin mining operations has become an increasingly urgent issue for authorities. The electricity theft for mining bitcoin activities has caused frequent power outages and in 2021, three houses were razed due to illegal electricity supply connections, the Miri police chief told local outlets. Critics of cryptocurrencies, and Bitcoin especially, have taken aim at the mining process, saying that the demand for energy is exacerbating climate change. Some governments, including that of China, have cracked down on mining operations in the country, citing the environmental impact as well as the potential for cryptocurrencies to disrupt the established financial system. Still, demand for computers capable of carrying out the process is surging as speculators look to cash in on cryptocurrency.</quote></quote> ... Copied to Clipboard!
teep_ 07/19/21 9:48:39 AM #2:	Should've sold them and made bank --- TAKE YOUR TIME <cite>teep_ posted [p:956239509] in Malaysian ... [t:79572204]...</cite> <quote>Should've sold them and made bank</quote> ... Copied to Clipboard!
MacDaMurderer 07/19/21 9:50:24 AM #3:	All them graphics cards literally destroyed --- @macdamurderer GT: Mac Da Murderer <cite>MacDaMurderer posted [p:956239547] in Malaysian ... [t:79572204]...</cite> <quote>All them graphics cards literally destroyed </quote> ... Copied to Clipboard!
Giant_Aspirin 07/19/21 9:54:24 AM #5:	all those poor GPUs :( --- Playing: Yakuza 5 Remaster You see it your way, I'll see it mine and I'll be fine <cite>Giant_Aspirin posted [p:956239642] in Malaysian ... [t:79572204]...</cite> <quote>all those poor GPUs :( </quote> ... Copied to Clipboard!
Drpooplol 07/19/21 9:55:12 AM #6:	Bitcoin/nft mining/processing should be illegal. --- "Or do you want to know more about my vagina?" LIE "No" <cite>Drpooplol posted [p:956239668] in Malaysian ... [t:79572204]...</cite> <quote>Bitcoin/nft mining/processing should be illegal. </quote> ... Copied to Clipboard!
TetsuoS2 07/19/21 9:55:17 AM #7:	bitcoin miners arent gpus. the video makes this obvious --- FGO NA ID: 973,333,976 just an idiot passing through <cite>TetsuoS2 posted [p:956239670] in Malaysian ... [t:79572204]...</cite> <quote>bitcoin miners arent gpus. the video makes this obvious </quote> ... Copied to Clipboard!
Jabodie 07/19/21 9:55:32 AM #8:	MacDaMurderer posted... All them graphics cards literally destroyed Giant_Aspirin posted... all those poor GPUs :( --- <insert sig here> <cite>Jabodie posted [p:956239682] in Malaysian ... [t:79572204]...</cite> <quote>MacDaMurderer posted... </cite> <quote>All them graphics cards literally destroyed </quote> Giant_Aspirin posted... </cite> <quote>all those poor GPUs :(</quote> </quote> ... Copied to Clipboard!
hitokoriX 07/19/21 10:11:19 AM #9:	Drpooplol posted... Bitcoin/nft mining/processing should be illegal. Why? --- Would you follow a blind man? I would if I was in the dark <cite>hitokoriX posted [p:956240080] in Malaysian ... [t:79572204]...</cite> <quote>Drpooplol posted... </cite> <quote>Bitcoin/nft mining/processing should be illegal.</quote> Why? </quote> ... Copied to Clipboard!
Squall28 07/19/21 10:12:26 AM #10:	Antifar posted... siphoned off almost $2 million worth of electricity to power the energy-intensive machines. bitcoin is a diease --- You can't go back and change the beginning, but you can start where you are and change the ending. -Misattributed to CS Lewis <cite>Squall28 posted [p:956240124] in Malaysian ... [t:79572204]...</cite> <quote>Antifar posted... </cite> <quote>siphoned off almost $2 million worth of electricity to power the energy-intensive machines.</quote> bitcoin is a diease </quote> ... Copied to Clipboard!
Drpooplol 07/19/21 10:18:30 AM #11:	hitokoriX posted... Why? It's killing our planet --- "Or do you want to know more about my vagina?" LIE "No" <cite>Drpooplol posted [p:956240270] in Malaysian ... [t:79572204]...</cite> <quote>hitokoriX posted... </cite> <quote>Why?</quote>It's killing our planet </quote> ... Copied to Clipboard!
CookieMarvin 07/19/21 10:27:47 AM #12:	Drpooplol posted... It's killing our planet do u really believe that? lol --- https://imgur.com/C7kqqh4 <cite>CookieMarvin posted [p:956240503] in Malaysian ... [t:79572204]...</cite> <quote>Drpooplol posted... </cite> <quote>It's killing our planet</quote>do u really believe that? lol </quote> ... Copied to Clipboard!
Drpooplol 07/19/21 10:36:22 AM #13:	CookieMarvin posted... do u really believe that? lol Why don't you believe it? --- "Or do you want to know more about my vagina?" LIE "No" <cite>Drpooplol posted [p:956240725] in Malaysian ... [t:79572204]...</cite> <quote>CookieMarvin posted... </cite> <quote>do u really believe that? lol</quote>Why don't you believe it? </quote> ... Copied to Clipboard!
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EndOfDiscOne 07/19/21 10:41:48 AM #15:	Drpooplol posted... Why don't you believe it? It's a more complex issue than "it uses a lot of energy." Here's a good video if you have time to watch. https://www.youtube.com/watch?v=DidAwxWaDKI --- I am the Cheese! I am the best character on the show! I am better than both the salami and the bologna *COMBINED!* <cite>EndOfDiscOne posted [p:956240865] in Malaysian ... [t:79572204]...</cite> <quote>Drpooplol posted... </cite> <quote>Why don't you believe it?</quote>It's a more complex issue than "it uses a lot of energy." Here's a good video if you have time to watch. https://www.youtube.com/watch?v=DidAwxWaDKI </quote> ... Copied to Clipboard!
Musourenka 07/19/21 10:44:30 AM #16:	I'm being a bit of a nitpicker here, but when energy consumption is shown in dollar value, it tends to shift the focus towards economic costs versus environmental costs. The bigger issue is not the electricity theft, but that these bitcoin mining setups are literal planet suckers. Anyways, good on the Malaysian police here. --- Shooing away pigeons crapping on debate tables is not a violation of the pigeons' free speech. <cite>Musourenka posted [p:956240955] in Malaysian ... [t:79572204]...</cite> <quote>I'm being a bit of a nitpicker here, but when energy consumption is shown in dollar value, it tends to shift the focus towards economic costs versus environmental costs. The bigger issue is not the electricity theft, but that these bitcoin mining setups are literal planet suckers. Anyways, good on the Malaysian police here. </quote> ... Copied to Clipboard!
MarthGoomba 07/19/21 10:45:38 AM #17:	MacDaMurderer posted... All them graphics cards literally destroyed Bitcoin isn't mined with GPUs --- https://imgur.com/m6Rgs8D https://imgur.com/qUMZhdW https://imgur.com/LACtH6q <cite>MarthGoomba posted [p:956240994] in Malaysian ... [t:79572204]...</cite> <quote>MacDaMurderer posted...</cite> <quote>All them graphics cards literally destroyed </quote> Bitcoin isn't mined with GPUs</quote> ... Copied to Clipboard!
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MarthGoomba 07/19/21 10:55:32 AM #19:	DuranOfForcena posted... uh yes it is No --- https://imgur.com/m6Rgs8D https://imgur.com/qUMZhdW https://imgur.com/LACtH6q <cite>MarthGoomba posted [p:956241317] in Malaysian ... [t:79572204]...</cite> <quote>DuranOfForcena posted...</cite> <quote>uh yes it is</quote> No</quote> ... Copied to Clipboard!
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MarthGoomba 07/19/21 11:10:37 AM #21:	DuranOfForcena posted... Yes GPUs cannot compete with ASICs in mining Bitcoin. You would literally be LOSING money by trying --- https://imgur.com/m6Rgs8D https://imgur.com/qUMZhdW https://imgur.com/LACtH6q <cite>MarthGoomba posted [p:956241751] in Malaysian ... [t:79572204]...</cite> <quote>DuranOfForcena posted...</cite> <quote>Yes</quote> GPUs cannot compete with ASICs in mining Bitcoin. You would literally be LOSING money by trying</quote> ... Copied to Clipboard!
Stewman_Magoo 07/19/21 11:11:57 AM #22:	More of this plz --- PSN Stewman_Magoo <cite>Stewman_Magoo posted [p:956241792] in Malaysian ... [t:79572204]...</cite> <quote>More of this plz </quote> ... Copied to Clipboard!
TetsuoS2 07/19/21 11:12:08 AM #23:	--- FGO NA ID: 973,333,976 just an idiot passing through <cite>TetsuoS2 posted [p:956241794] in Malaysian ... [t:79572204]...</cite> <quote> </quote> ... Copied to Clipboard!
Paragon21XX 07/19/21 11:15:47 AM #24:	DuranOfForcena posted... uh yes it is If the miner is an idiot perhaps. Smart miners use ASICs which is what is shown in the cover photo of the article because they are more power efficient, faster, and cheaper. Ethereum is one of the the cryptos mined primarily by GPUs. --- Hmm... <cite>Paragon21XX posted [p:956241895] in Malaysian ... [t:79572204]...</cite> <quote>DuranOfForcena posted... </cite> <quote>uh yes it is</quote>If the miner is an idiot perhaps. Smart miners use ASICs which is what is shown in the cover photo of the article because they are more power efficient, faster, and cheaper. Ethereum is one of the the cryptos mined primarily by GPUs. </quote> ... Copied to Clipboard!
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SevenTenths 07/19/21 11:22:30 AM #26:	DuranOfForcena posted... that's probably why they have to steal electricity in order to power their operation Hodor. --- If you do things right, people won't be sure that you have done anything at all. I Like Toast Alt - https://mikelikesthis.net/ The Blog Is back <cite>SevenTenths posted [p:956242098] in Malaysian ... [t:79572204]...</cite> <quote>DuranOfForcena posted... </cite> <quote>that's probably why they have to steal electricity in order to power their operation</quote> Hodor. </quote> ... Copied to Clipboard!
MarthGoomba 07/19/21 11:24:54 AM #27:	DuranOfForcena posted... that's probably why they have to steal electricity in order to power their operation They would still be losing money on paying thousands for GPUs that would be making not even a penny a day --- https://imgur.com/m6Rgs8D https://imgur.com/qUMZhdW https://imgur.com/LACtH6q <cite>MarthGoomba posted [p:956242163] in Malaysian ... [t:79572204]...</cite> <quote>DuranOfForcena posted...</cite> <quote>that's probably why they have to steal electricity in order to power their operation</quote> They would still be losing money on paying thousands for GPUs that would be making not even a penny a day</quote> ... Copied to Clipboard!
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Current Events > Malaysian police destroy 1,000 bitcoin mining rigs with steamroller (+) Yeah! (+)

Current Events > Malaysian police destroy 1,000 bitcoin mining rigs with steamroller