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(CNBC)   Malaysian police steamroll 1069 bitcoin mining rigs which had stolen electricity worth 8,500,000 ringgit, but more importantly got all that crypto off the streets and away from the kids   (cnbc.com) divider line
    More: Scary, Malaysia, bitcoin mining rigs, police headquarters, city of Miri, mining equipment, Malaysia's Electricity Supply Act, part of a joint operation, video of the event  
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2256 clicks; posted to Main » and Business » on 19 Jul 2021 at 7:13 AM (2 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-07-19 7:12:39 AM  
Nice.
 
2021-07-19 7:15:12 AM  
Yeah but the energy they stole was clean, excess energy so they were actually do is all a favor with their Bitcoin mining

/s
 
2021-07-19 7:25:42 AM  
Think of all the GPUs.  The horror.  The horror.
 
2021-07-19 7:25:59 AM  
This is what the police should do with all those scalpers who use bots to buy like 12 PS5s and sell them fire $1100.

Only instead of steamrolling them, they should give me one.
 
2021-07-19 7:27:55 AM  

MythDragon: This is what the police should do with all those scalpers who use bots to buy like 12 PS5s and sell them fire $1100.

Only instead of steamrolling them, they should give me one.


No, you had it right, they should steamroll the scalpers.
 
2021-07-19 7:33:01 AM  
8,500,000 ringgit, what, that's about $3.50 US?
 
2021-07-19 7:33:10 AM  
Bothers me that they're destroying the tech. That stuff will probably just end up in a landfill.

So much effort to produce them, and all for naught because we can't seem to do anything even remotely sensible.
 
2021-07-19 7:35:51 AM  

W_Scarlet: Bothers me that they're destroying the tech. That stuff will probably just end up in a landfill.

So much effort to produce them, and all for naught because we can't seem to do anything even remotely sensible.


The problem is that, in corrupt shiatholes, if you don't destroy it...the underpaid police will just fence the rigs.

/there were probably 1,407 rigs and the un destroyed ones were fenced
 
2021-07-19 7:38:25 AM  

Mouser: 8,500,000 ringgit, what, that's about $3.50 US?


Fark user imageView Full Size


Do the math.
 
2021-07-19 7:38:50 AM  
Ringginnit.
 
2021-07-19 7:41:49 AM  

Mouser: 8,500,000 ringgit, what, that's about $3.50 US?


Cops confiscated it, so it's worth $35 million on the street.
 
2021-07-19 7:49:02 AM  
Oh man, I could have bought so much cocaine and illegal guns from a honeypot with that
 
2021-07-19 7:50:25 AM  
Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"
 
2021-07-19 7:59:14 AM  

tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"


Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"
 
2021-07-19 8:01:52 AM  

JasonOfOrillia: Think of all the GPUs.  The horror.  The horror.


I know,
I thought in my last rig, I would just buy a overclocked 980 and buy a second one
down the line. Nope.
/or a backup PS4 pro. Nope
//or a PS5. Nope
/// hell, even a XBoxXtravangazaXXXbox, or whatever the hell they're calling it this gen.
//// I am not even going to try for that Steam/Switch.
 
2021-07-19 8:07:59 AM  
Still can't get a GPU.
 
2021-07-19 8:21:25 AM  

JasonOfOrillia: Think of all the GPUs.  The horror.  The horror.


Just thinking this.

Thanks, assholes, ya steamrolled the damn video cards instead of reselling :(
 
2021-07-19 8:28:57 AM  
There's no way they did that to the GPUs. Looks like nothing but a pile of PSUs.
 
2021-07-19 8:43:35 AM  
BRILLIANT thing to do in the midst of a global chip shortage. XD
 
2021-07-19 8:43:36 AM  

JasonOfOrillia: Think of all the GPUs.  The horror.  The horror.


Fark user imageView Full Size
 
2021-07-19 8:51:16 AM  

tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"


Yeah, anything governments don't like must be great.
 
2021-07-19 8:53:39 AM  

W_Scarlet: Bothers me that they're destroying the tech. That stuff will probably just end up in a landfill.

So much effort to produce them, and all for naught because we can't seem to do anything even remotely sensible.


If they sell them at auction the thinking is they will get used to mine Bitcoin by someone else.  But yes, I wish they had dismantled them and recycled the components properly.  Just a huge waste of everything.
 
2021-07-19 8:54:50 AM  
The Asian region sure likes giving gifts to the west. The network keeps chugging along as if nothing happened.

/Block by block
 
2021-07-19 8:57:31 AM  
8,500,000 ringgit

Fark user imageView Full Size
 
2021-07-19 8:58:03 AM  

tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"


You do seem like the perfect mark for crypto
 
2021-07-19 8:59:03 AM  

MythDragon: This is what the police should do with all those scalpers who use bots to buy like 12 PS5s and sell them fire $1100.

Only instead of steamrolling them, they should give me one.


I've been trying to get my son a new Xbox for months. I finally gave up because none of his friends have one either.
 
2021-07-19 8:59:19 AM  
You know, human beings really are f**king idiots, and this rise in "anti-government" sentiment proves it.
Give the stupid motherf**kers a couple generations of enough to eat and random warlords not murdering them at regular intervals, and they decide that government and civilization are encumbrances, that are hindering their Galtian excellence and stifling their "individuality".
To disdain government is to disdain civilization itself - if you are "anti-government", you are a savage, and I have no use for you.
 
2021-07-19 9:15:24 AM  

ColonelCathcart: W_Scarlet: Bothers me that they're destroying the tech. That stuff will probably just end up in a landfill.

So much effort to produce them, and all for naught because we can't seem to do anything even remotely sensible.

The problem is that, in corrupt shiatholes, if you don't destroy it...the underpaid police will just fence the rigs.

/there were probably 1,407 rigs and the un destroyed ones were fenced


*shrugs* what I would do in that situation is auction them off and advertise that a large percentage of the profits will go to a one time bonus for the local police.  That way the would be crooks would be steeling from their fellow officers and they would probably actually make sure the computers didn't dissappear.  The rest of the money would go to the people who's houses burnt down and then the power company.

It's better to just sanction that type of behavior for the time being than to prohibit it ineffectively.
 
2021-07-19 9:20:36 AM  

JasonOfOrillia: Think of all the GPUs.  The horror.  The horror.


More like ASICs. Less horror, because unless you're a frakkin bitcoin miner you probably haven't heard of them.
 
2021-07-19 9:23:31 AM  
And Crypto continues its slow slide as it meets the doom of every pyramid scheme:  indifference.

https://www.cnbc.com/2021/07/12/crypt​o​currency-trading-volume-plunges-as-int​erest-wanes-following-bitcoin-price-dr​op.html
 
2021-07-19 9:26:39 AM  
1069 bitcoin riggs equals how many Olympic size pools?
 
2021-07-19 9:31:38 AM  

somedude210: tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"

Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"


Says the Star Citizen superfan....  I guess you would know something about it.

Anyways, destroying the machines is kind of dumb.  They could have been sold to pump up the police pension fund and keep them out of a landfill.
 
2021-07-19 9:36:37 AM  

houstondragon: JasonOfOrillia: Think of all the GPUs.  The horror.  The horror.

Just thinking this.

Thanks, assholes, ya steamrolled the damn video cards instead of reselling :(


They were dedicated mining rigs. No GPUs, components soldered on, the full thing. They literally could not do anything useful other than mine crypto.
Destroying them at least might produce some scrap metal.
 
2021-07-19 9:44:45 AM  

Lord Bear: somedude210: tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"

Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"

Says the Star Citizen superfan....  I guess you would know something about it.

Anyways, destroying the machines is kind of dumb.  They could have been sold to pump up the police pension fund and keep them out of a landfill.


🙄

That's weaksauce even from you. Show me where any evidence of money laundering in star citizen is. Otherwise, you can kindly go f*ck yourself
 
2021-07-19 9:45:17 AM  

AsparagusFTW: The Asian region sure likes giving gifts to the west. The network keeps chugging along as if nothing happened.

/Block by block


media.giphy.comView Full Size

pbs.twimg.comView Full Size
 
2021-07-19 9:49:02 AM  

somedude210: Lord Bear: somedude210: tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"

Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"

Says the Star Citizen superfan....  I guess you would know something about it.

Anyways, destroying the machines is kind of dumb.  They could have been sold to pump up the police pension fund and keep them out of a landfill.

That's weaksauce even from you. Show me where any evidence of money laundering in star citizen is. Otherwise, you can kindly go f*ck yourself


Here you go:
https://dereksmart.com/2017/03/star-c​i​tizen-money-laundromat/
https://www.denofgeek.com/games/star-​c​itizen-report-money-chris-roberts-scam​/
 
2021-07-19 9:51:43 AM  

Lord Bear: somedude210: Lord Bear: somedude210: tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"

Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"

Says the Star Citizen superfan....  I guess you would know something about it.

Anyways, destroying the machines is kind of dumb.  They could have been sold to pump up the police pension fund and keep them out of a landfill.

That's weaksauce even from you. Show me where any evidence of money laundering in star citizen is. Otherwise, you can kindly go f*ck yourself

Here you go:
https://dereksmart.com/2017/03/star-ci​tizen-money-laundromat/
https://www.denofgeek.com/games/star-c​itizen-report-money-chris-roberts-scam​/


Derek Smart? Really?
media.giphy.comView Full Size
 
2021-07-19 9:53:58 AM  

Lord Bear: somedude210: Lord Bear: somedude210: tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"

Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"

Says the Star Citizen superfan....  I guess you would know something about it.

Anyways, destroying the machines is kind of dumb.  They could have been sold to pump up the police pension fund and keep them out of a landfill.

That's weaksauce even from you. Show me where any evidence of money laundering in star citizen is. Otherwise, you can kindly go f*ck yourself

Here you go:
https://dereksmart.com/2017/03/star-ci​tizen-money-laundromat/
https://www.denofgeek.com/games/star-c​itizen-report-money-chris-roberts-scam​/


Oh my, Derek Smart? That's your gotcha? The man who has never produced a single worthwhile game, got jealous of Roberts and helped dox Sandi?

*Slow claps*

Bra-vo. You're a real smart man.
 
2021-07-19 9:57:15 AM  

Lord Bear: somedude210: Lord Bear: somedude210: tuxq: Man. The governments really don't like it when the populations seize the means of control (read: currency). Maybe there is something to this "bitcoin"

Yes, it's a giant money laundering front using gullible idiots to make it seem "legit"

Says the Star Citizen superfan....  I guess you would know something about it.

Anyways, destroying the machines is kind of dumb.  They could have been sold to pump up the police pension fund and keep them out of a landfill.

That's weaksauce even from you. Show me where any evidence of money laundering in star citizen is. Otherwise, you can kindly go f*ck yourself

Here you go:
https://dereksmart.com/2017/03/star-ci​tizen-money-laundromat/
https://www.denofgeek.com/games/star-c​itizen-report-money-chris-roberts-scam​/


Bigger question, why are you trying to whatabout cryptocurrency? Are you heavily invested in it and don't want to admit you're helping transnational organized crime?
 
2021-07-19 9:59:08 AM  
somedude210:
Oh my, Derek Smart? That's your gotcha? The man who has never produced a single worthwhile game, got jealous of Roberts and helped dox Sandi?

He's not a great videogame creator, but he's also not wrong about following the money.  CIG has been pretty farking shady over the years.
 
2021-07-19 10:02:44 AM  
somedude210:

Bigger question, why are you trying to whatabout cryptocurrency? Are you heavily invested in it and don't want to admit you're helping transnational organized crime?

I've been into crypto for years.  It's made me millions.  So... yes?

And the fact that you are trotting out old crap about 'crypto is only used for crime' shows just how out of the loop you are.  Crypto is in fact very unsuited for crime due to its open ledgers and traceability.  There have been several high profile busts and seizures over the last few years due to criminals using crypto.
 
2021-07-19 10:04:40 AM  

Lord Bear: somedude210:
Oh my, Derek Smart? That's your gotcha? The man who has never produced a single worthwhile game, got jealous of Roberts and helped dox Sandi?

He's not a great videogame creator, but he's also not wrong about following the money.  CIG has been pretty farking shady over the years.


You cited Derek f*cking Smart. The man with a vendetta against CIG and Roberts.

That is not an unbiased source. Neither is the Forbes hitpiece the denofgeek article uses as their basis.

CIG puts out their financial reporting every year for you to peruse. Go take a look and find me the shady money laundering or shut up with the irrational hate
 
2021-07-19 10:05:11 AM  

Lord Bear: somedude210:

Bigger question, why are you trying to whatabout cryptocurrency? Are you heavily invested in it and don't want to admit you're helping transnational organized crime?

I've been into crypto for years.  It's made me millions.  So... yes?

And the fact that you are trotting out old crap about 'crypto is only used for crime' shows just how out of the loop you are.  Crypto is in fact very unsuited for crime due to its open ledgers and traceability.  There have been several high profile busts and seizures over the last few years due to criminals using crypto.


media4.giphy.comView Full Size
 
2021-07-19 10:12:27 AM  

Lord Bear: somedude210:

Bigger question, why are you trying to whatabout cryptocurrency? Are you heavily invested in it and don't want to admit you're helping transnational organized crime?

I've been into crypto for years.  It's made me millions.  So... yes?

And the fact that you are trotting out old crap about 'crypto is only used for crime' shows just how out of the loop you are.  Crypto is in fact very unsuited for crime due to its open ledgers and traceability.  There have been several high profile busts and seizures over the last few years due to criminals using crypto.


Hahahahahahahahahahaha

Since you like Forbes as a source:
https://www.forbes.com/sites/roberthar​t/2021/07/13/british-police-seize-250-​million-of-cryptocurrency-in-internati​onal-money-laundering-crackdown/

https://www.forbes.com/sites/roberthar​t/2021/06/25/uk-police-seize-160-milli​on-in-cryptocurrency-in-money-launderi​ng-investigation/

https://fortune.com/2021/07/15/hong-ko​ng-police-crypto-money-laundering-sche​me/

https://www.cnbc.com/2021/06/10/china-​arrests-over-1100-suspects-for-crypto-​related-money-laundering.html

I agree, crypto is a terrible way to do crimes because it is so public. But so are all the other rackets mobsters are involved in. They are not what one would consider a "smart criminal"

When China and Russia, two mafia-states themselves, are making their own cryptocurrency, there's a reason for it, they need a way to launder all the ill-gotten money they've pilfered from their countries.

Not to mention they use crypto to pay off most of their assassins and other agents abroad, and their useful idiots working for them.
 
2021-07-19 10:20:32 AM  
somedude210:

When China and Russia, two mafia-states themselves, are making their own cryptocurrency, there's a reason for it, they need a way to launder all the ill-gotten money they've pilfered from their countries.

It is true that China is banning bitcoin (as far as they can, since its pretty hard) becasue they want to have complete and utter dominance over their own crypto.  Being forced to use a crypto controlled by a oppressive regime is just another form of control.  It's why they HATE bitcoin so much, becasue they have no control over it whatsoever.

If China hates something, its usually a good thing.
 
2021-07-19 10:27:06 AM  

Mouser: 8,500,000 ringgit, what, that's about $3.50 US?


8,500,000 Malaysian Ringgit = 2,011,100 US Dollar
 
2021-07-19 10:29:22 AM  

jso2897: You know, human beings really are f**king idiots, and this rise in "anti-government" sentiment proves it.
Give the stupid motherf**kers a couple generations of enough to eat and random warlords not murdering them at regular intervals, and they decide that government and civilization are encumbrances, that are hindering their Galtian excellence and stifling their "individuality".
To disdain government is to disdain civilization itself - if you are "anti-government", you are a savage, and I have no use for you.


You're not my supervisor.

/you're right though.
 
2021-07-19 10:31:07 AM  

Lord Bear: somedude210:

When China and Russia, two mafia-states themselves, are making their own cryptocurrency, there's a reason for it, they need a way to launder all the ill-gotten money they've pilfered from their countries.

It is true that China is banning bitcoin (as far as they can, since its pretty hard) becasue they want to have complete and utter dominance over their own crypto.  Being forced to use a crypto controlled by a oppressive regime is just another form of control.  It's why they HATE bitcoin so much, becasue they have no control over it whatsoever.

If China hates something, its usually a good thing.


Depends on why they hate it. They can't control Bitcoin, yes, because they want a cut of the laundered money.

So are you really going to sit there and tell me that you really don't believe cryptocurrency is used primarily for money laundering and payments for other nefarious deeds? Despite the mountains of evidence showing that, yeah, it's absolutely used for money laundering.

Also, way to contribute to the cooking of our planet, asswipe.
 
2021-07-19 10:31:30 AM  

W_Scarlet: Bothers me that they're destroying the tech. That stuff will probably just end up in a landfill.

So much effort to produce them, and all for naught because we can't seem to do anything even remotely sensible.


Who's "we"?

Are you taking responsibility for Malaysian crypto mining?

Do you somehow expect me to?
 
2021-07-19 10:34:00 AM  

Lord Bear: somedude210:

When China and Russia, two mafia-states themselves, are making their own cryptocurrency, there's a reason for it, they need a way to launder all the ill-gotten money they've pilfered from their countries.

It is true that China is banning bitcoin (as far as they can, since its pretty hard) becasue they want to have complete and utter dominance over their own crypto.  Being forced to use a crypto controlled by a oppressive regime is just another form of control.  It's why they HATE bitcoin so much, becasue they have no control over it whatsoever.

If China hates something, its usually a good thing.


Btw, I hope you declared all your crypto earnings on your taxes this year, otherwise your "millions" are gonna be seized by the feds.

And it won't even be worthy of my tiny violin
 
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