Topic: Police Destroy 1,069 Bitcoin Miners With Steamroller In Malaysia (Read 623 times)

What for? Have they found no other use for miners?

I think it's only the Chinese government that applies this not the Malaysian government, maybe this happened because of the electrical wiretapping used by the miners so that the police intervened to prevent it and I think this is common, because we know that wiretapping We can say that the electricity that is done is against the rules

There are proofs already that it was Malaysian government/authorities that did the steamrolling so I don't think that your hate against China is in the right place, remember that there are other countries that hates bitcoin, it's just that China is a bigger influence. Of course it's against the law, they are basically taking advantage of other people that pays electricity.

I think it's only the Chinese government that applies this not the Malaysian government, maybe this happened because of the electrical wiretapping used by the miners so that the police intervened to prevent it and I think this is common, because we know that wiretapping We can say that the electricity that is done is against the rules

Events like this wont really be enough on taking the market down and we've seen countless situations which is similar to this but doesnt really give out total impact even though it does give out some negative

impression or views into the public which might create some FUD then this is the time on where possible effects could happen but its not an assurance to happen though.

Expect the unexpected and situations like these do happen since they do really have  the power and once a certain thing do oppose their liking then expect for such step that
they would make.

I admit each country usually has different rules regarding handling issues related to Bitcoin miners, but what Malaysia is doing is not a good thing
to do. The Malaysian government should be able to benefit from the mining equipment, by auctioning it off to countries that legalize Bitcoin mining.
Not because they want to show power to the public, ended up missing something useful. What really upsets me is the effect of the Malaysian
government, finally making FUD which can cause the market to go back down. I also hope this news doesn't panic investors and doesn't make
ordinary people misunderstand about Bitcoin.

If this is confirmed as the mining equipment that steals electricity, it may be their law that they should destroy the equipment in order that the owners will not do mining again by stealing the electricity.
But, if this happens, this can really make a big influence and of course, the FUD will be again rising up. We can see how this bad news has been spreading in social media, creating FUD that Bitcoin mining has a very big problem again and it will destroy the price of BTC again. Well, there will be again, dropped price because of this FUD?
Hopefully, many of us are aware and do not panic about this FUD

i have to agree with you here. when i read the article outside the forum, i felt that the govt should have done alternative options rather than destroying those for nothing. they could have sold it for outside miners or export it to other countries. in that way, they got money that their govt badly needs during this crisis. but maybe for the sake of publicity, they just destroyed it. what a waste!
but anyway, we don't know what they're thinking here and the repercussions if they opted for other routes. maybe, we are just thinking what we view on this matter and would be different from their end.

Kind of a waste tbh. They could've used it themselves or something instead of just, well, doing this. It's an absolute waste of resources and destroying them brings no benefit to any side. Even if we consider it from a political stance, it doesn't seem like it actually has any result at all? Not to mention that it isn't strictly Bitcoin their blaming but rather the illegal stealing of energy/electricity that the mining rigs no? Simply speaking, it's them enforcing the law.

Still looks quite a waste to me though.

I wish they didn't destroy the equipment like this. I know they were making a point this way, but they could have put it on auction instead and return the money back to the state this way. That being said, I think it's fair they stopped this farm's operation because it wasn't even about cryptos as much as it was about stealing electricity. They should've paid the bills, and then it could've been a very different story. And then Ukraine's mentioned in the last paragraph, but it's also not about a crackdown of mining but about stopping those to steal electricity.

ASICS are like Heroin to the World's Power Grids.  More Harm than good.  

Heard about this. Those miners were stealing power and mining crypto currencies. When the authorities realized this, the policed found them out and seized their equipment. What baffles me the most is that it took them almost four months to realize something was wrong lol.I am curious, why did they destroy those mining rigs? They could have just auctioned it and put the money to better use.  What a waste...

Ultimately it shows weakness on the part of the Malaysian government, that they would rather show a shallow act of destruction than sell off these presumably valuable goods and use the proceeds to benefit their own people.

I wish they didn't destroy the equipment like this. I know they were making a point this way, but they could have put it on auction instead and return the money back to the state this way. That being said, I think it's fair they stopped this farm's operation because it wasn't even about cryptos as much as it was about stealing electricity. They should've paid the bills, and then it could've been a very different story. And then Ukraine's mentioned in the last paragraph, but it's also not about a crackdown of mining but about stopping those to steal electricity.

I also saw the video and there are many different copies of this video joking on Instagram and other social media. The whole point is we could know why exactly Malaysia did this and what was the real cause because we all know they could destroy the miner devices in quiet and don't film it or they could even use the miners for themselves and extract some electrical pieces for another usage, but they didn't they released the video of destroying a more than a thousand devices and in my own idea the reason is to make negative atmosphere and fear between bitcoiners.

Video of incident:  https://www.youtube.com/watch?v=c_tcg9kOfkg

Is it fair to say a political statement is being made here? Malaysia is doing this as a gesture of appeasement towards china's hard anti bitcoin stance.

Initially, china banned crypto mining. Many miners relocated their equipment to other countries, or sold them online. The evolution of this process is malaysia now destroying mining units to prevent them from being relocated or sold.

Is there a legitimate motive for outright destroying mining units. Rather than auctioning or selling them. Aside from politics?

Is it fair to say a political statement is being made here? Malaysia is doing this as a gesture of appeasement towards china's hard anti bitcoin stance.

Initially, china banned crypto mining. Many miners relocated their equipment to other countries, or sold them online. The evolution of this process is malaysia now destroying mining units to prevent them from being relocated or sold.

Is there a legitimate motive for outright destroying mining units. Rather than auctioning or selling them. Aside from politics?

I have read through the news about this and still don't know if it's true or just a fake news, confusing all investors about the cryptocurrency that is about to be boycotted. I really don't understand why there are people who hate BTC so much.

I have read through the news about this and still don't know if it's true or just a fake news, confusing all investors about the cryptocurrency that is about to be boycotted. I really don't understand why there are people who hate BTC so much.

...

I saw this video recently on Twitter and some users claiming it's on China, really FUD and fake news, lol.
This is another crime that some governments will start to become strict with cryptocurrency, but for me, Bitcoin got nothing to do with it, people are.

In some country too they are destroying some items that are involved with crime, one of the example are smuggled items, like cars. They are destroying them in public, so in this case, it was almost the same case, doing publicity.

The answer to your question was in the article

PoW is a technical dead end, as it is designed as a winner take all system that uses up all available energy.
* Note the increased energy used does nothing to increase performance only supposed security, which is also false,
since bitcoin security is really the 4 mining pool operators that agree not to collude and doublespend, so energy used is irrelevant. *

China Permanently banned Bitcoin mining because of PoW threat to their power grid,
Iran has temporary banned bitcoin mining because of PoW threat to their power grid, expect this to become permanent within a year.

At the end of the day the destruction of a power grid is becoming a greater risk than any sane person will accept.
Which is why you see videos like above as they want it known, no PoW miners should ever try mining their again.

Bitcoin users have no one to blame except the bitcoin developers who have ignored this energy wasting issue since 2013.

The current PoW ASIC energy sucking system will be banned by all governments in time,
so that mean bitcoin either gets banned with it or finally goes to a new design.
 

Is crypto banned in Malaysia?

If miners doing it illegally and stealing electricity or any illegal activity that against their country just to continue mining, that deserves to be them seizing their mining rigs or mining equipment and being destroyed, I remember this the same case here in my country when there's a backdoor or smuggled cigarette that being seized they destroy them all so that didn't use anymore.

We might do mining without stealing electricity and might we're fine if crypto doesn't ban in our country.

I think it is absolute stupidity, because Malaysia is not a very "rich" country and a lot of the citizens are struggling.....     I saw the video on TikTok for the first time and they said it was in China.. so I kind of accepted it, because we know what government they have.

I saw this video recently on Twitter and some users claiming it's on China, really FUD and fake news, lol.

Same as with the dozens of lamborghinis and ferraris and ducatis that were bulldozered in the Philippines last year. Was able to enter the country illegally without proper taxation. So these smuggled goods, instead of being sold to the highest bidder in an auction, it was instead destroyed as an example to those who will attempt to smuggle good in the country without following the proper process. Same as with the rigs stealing electricity. It is a wrong doing so it should not be shown as a political act but as a criminal act.

Kind of a waste tbh. They could've used it themselves or something instead of just, well, doing this. It's an absolute waste of resources and destroying them brings no benefit to any side. Even if we consider it from a political stance, it doesn't seem like it actually has any result at all? Not to mention that it isn't strictly Bitcoin their blaming but rather the illegal stealing of energy/electricity that the mining rigs no? Simply speaking, it's them enforcing the law.

Still looks quite a waste to me though.

They didn't destroy this machine only they distroy the hope of others of that country.

I don't know which country from this video because some country says its from china or some says its from Malaysia.

What ever but the government kill our freedom.

Its really affect soo much on crypto price not Only that some people sell their crypto to buy second hand car or some goods. Because of this type of FUD.

People in my country are literally stealing electricity in order to mine cryptocurrencies.
I guess that's why some governments are hostile towards cryptocurrency mining and the mining hardware.

I doubt that. Bitcoin isn't politically significant, that would be a quite useless and noncommittal move. They didn't want to auction the miners, because they could again create the same problem of electrical outages and electricity stealing.

People in my country are literally stealing electricity in order to mine cryptocurrencies.
I guess that's why some governments are hostile towards cryptocurrency mining and the mining hardware.
It's better to destroy that mining hardware,instead of selling it to people,that might start stealing electricity again and mine crypto.This is the way of thinking of all the government clerks and officials.
Destroying mining equipment isn't a big deal.I hope that the equipment gets recycled,instead of being sent to the trash and contributing to environment pollution.After all,everybody wants crypto mining to be clean and safe.

Is there a legitimate motive for outright destroying mining units. Rather than auctioning or selling them. Aside from politics?

Is crypto banned in Malaysia?

If miners doing it illegally and stealing electricity or any illegal activity that against their country just to continue mining, that deserves to be them seizing their mining rigs or mining equipment and being destroyed, I remember this the same case here in my country when there's a backdoor or smuggled cigarette that being seized they destroy them all so that didn't use anymore.

We might do mining without stealing electricity and might we're fine if crypto doesn't ban in our country.

I saw this video recently on Twitter and some users claiming it's on China, really FUD and fake news, lol.

-snip-
@GreatArkansas has a point, maybe this is really in China and not in Malaysia. And assuming this is Malaysia, maybe those miners are tapping illegal electricity and that's why they have to destroyed it in public. And I don't think the Malaysian government is sending signal that they are anti-bitcoin.

-snip-
They are destroying them in public, so in this case, it was almost the same case, doing publicity.

Is it fair to say a political statement is being made here? Malaysia is doing this as a gesture of appeasement towards china's hard anti bitcoin stance.

Is there a legitimate motive for outright destroying mining units. Rather than auctioning or selling them. Aside from politics?

Initially, china banned crypto mining. Many miners relocated their equipment to other countries, or sold them online. The evolution of this process is malaysia now destroying mining units to prevent them from being relocated or sold.

Is crypto banned in Malaysia?

If miners doing it illegally and stealing electricity or any illegal activity that against their country just to continue mining, that deserves to be them seizing their mining rigs or mining equipment and being destroyed, I remember this the same case here in my country when there's a backdoor or smuggled cigarette that being seized they destroy them all so that didn't use anymore.

We might do mining without stealing electricity and might we're fine if crypto doesn't ban in our country.

Is there a legitimate motive for outright destroying mining units. Rather than auctioning or selling them. Aside from politics?

mining Bitcoin activities has caused frequent power outages,

Malaysia says it is to summon China's ambassador after 16 Chinese military aircraft flew over disputed waters off its eastern state of Sarawak.

Fighter jets were scrambled to intercept the transport planes on Monday after detecting "suspicious" activity over the South China Sea.

Malaysia's foreign ministry described the manoeuvre as a "serious threat to national sovereignty".

China, however, said its aircraft had abided by international law.

Malaysia, the Philippines, Brunei, Taiwan and Vietnam all contest China's claim to almost all of the South China Sea. The row has rumbled on for decades but tensions have increased in recent years.

Beijing continues to claim an area known as the "nine-dash line" and has backed its claim with island-building and patrols, expanding its military presence while maintaining that its intentions are peaceful.

Is it fair to say a political statement is being made here? Malaysia is doing this as a gesture of appeasement towards china's hard anti bitcoin stance.

As Bitcoin’s price surged this spring to a new all-time high, the spotlight shining on its controversial mining process only got brighter. Bitcoin, Ethereum, and many other cryptocurrencies use an energy-intensive “proof-of-work” process that makes computers on its decentralized network compete to solve complex mathematical equations to verify a batch of transactions; this makes the network less susceptible to certain attacks, and earns miners crypto rewards.

Given the competitive element in the quest for valuable cryptocurrency, powerful mining rigs—essentially, PCs purpose-built to maximize mining rewards—are the preferred tool of serious crypto miners. They are expensive, and persistent demand and manufacturing delays can mean months-long waits for rigs to be delivered. This week, police in Malaysia crushed 1,069 of them with a steamroller.

Authorities in the city of Miri in Sarawak, Malaysia seized 1,069 rigs from miners alleged to have stolen electricity for their operations, per a report from local publication The Star. The devices were seized in a joint operation between Miri police and Sarawak Energy Berhad between February and April, and have an estimated value of RM5.3 million ($1.25 million USD), according to the outlet.

Six individuals were arrested for electricity theft in the operation, and “have been fined up to RM8,000 and jailed for up to eight months," according to a statement from Miri police chief ACP Hakemal Hawari that was quoted by The Star. Local Sarawak news outlet Dayak Daily adds that the rigs were collected over the course of six separate raids. Sarawak Energy Berhad estimates that it lost RM8.4 million ($2 million USD) in energy that was stolen from its lines for the mining operation, the outlet reported. Dayak Daily also uploaded a video to YouTube showing the miners being steamrolled.


Neither outlet stated why the police felt it was necessary to destroy the machines in such dramatic fashion, though it certainly sends a strong message. Electricity theft is a persistent issue in numerous regions where Bitcoin is mined, as some operators use illegal means to secure the cheap electricity necessary to make a big profit mining cryptocurrency.

"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 Star quotes  Hawari as saying.

According to the report, the mining rigs were demolished in the parking lot of the Miri district police headquarters this week, as seen in the video above. Bitcoin enthusiasts might watch the video and see dreams of prospective crypto wealth crushed to bits, while anti-mining advocates are likely to see Bitcoin’s ecological impact being slightly curtailed amidst all of that e-waste.

Bitcoin’s distributed ledger design ensures the security and stability of the blockchain network, but the mining model requires exorbitant amounts of energy. Digiconomist estimates that the Bitcoin network now uses as much energy annually as the entire county of Sweden, and the energy use of the network is sure to rise as more mining power is added to the network (and vice versa).

The leading cryptocurrency’s early-year surge was halted in part by Tesla announcing in May that it would no longer accept Bitcoin payments, citing concerns over the use of fossil fuels in mining. It was an about-face for the electric car maker, which announced in February that it had purchased  $1.5 billion worth of Bitcoin to hold on its balance sheet, and soon after began accepting Bitcoin payments for a brief span.

Tesla CEO Elon Musk, the terminally-online Dogecoin memer, has since become reviled by many crypto enthusiasts for his perceived meddling in the scene, including the formation of a “Bitcoin Mining Council.” Bitcoin’s price fell swiftly following Tesla’s announcement, and at a current price just above $32,000 per coin, it’s worth about half of its all-time high set in April.

China’s increasing crackdown on cryptocurrency has also recently dampened enthusiasm around the industry. Crypto mining has been banned in multiple provinces, causing the Bitcoin network’s hash rate (or total computational power) to sink as miners shut down or move abroad. The People’s Bank of China also told top banks and payments services to root out cryptocurrency users and implement stricter know-your-customer processes.

Earlier this week, the Ukrainian Security Service (SBU) similarly busted a crypto mining operation for allegedly stealing electricity from a nearby regional energy provider. That bust had its own unique hook: some 3,800 PlayStation 4 consoles made up the majority of the seized devices, as the systems had apparently been modified to mine an unidentified cryptocurrency. Game consoles are significantly less powerful than dedicated PC mining rigs, but there’s still potential for profit when the energy cost is zero.

https://www.vice.com/en/article/7kv739/police-destroy-1069-bitcoin-miners-with-big-ass-steamroller-in-malaysia