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[AudraMiller]

Mining rigs can very expensive to put together and apart from the energy that is required in order to operate them, the equipment that is needed is very costly as well, and this is what prevents any person from being able to operate a mining rig out of the comfort of their home. However, in a recent news video that went viral, there is a steam roller in Malaysia that is supposedly destroying mining rigs. This video shows the steam roller going over around 1069 mining machines that were used for bitcoin mining. What are your thoughts on this and how will this affect the bitcoin market?

 

[Gbubemi96]

Assistant Commissioner of Police Hakemal Hawari told CNBC the crackdown came after miners allegedly stole $2 million worth of electricity siphoned from Sarawak Energy power lines. They might need to start earning or buying theirbitcoin for a while. Price might increase though, cos not everyone can mine and so those who can might decide to sell at a higher price

 

[Japhnet]

This is a very serious collateral damage. 1069 mining rigs is not a joking matter. This would have a positive impact due to the reduction of competition.

 

[Lobardi]

Good move , if a person is not licensed and does an act like this then the same treatment should be given all over the world without any exception z they have preserved the environment in this way and that's a commendable act to be honest actually in my opinion and they should be appreciated by all of us .

 

[a_jerobon]

That is a very large amount of Bitcoin rigs destroyed. With how expensive the equipments are, I am sure that the miners faced huge losses. But again the destroying was right especially if they are doing it illegally. The energy consumption and environmental issues they cause are so intense.

 

[Bisola]

Mining rigs can very expensive to put together and apart from the energy that is required in order to operate them, the equipment that is needed is very costly as well, and this is what prevents any person from being able to operate a mining rig out of the comfort of their home. However, in a recent news video that went viral, there is a steam roller in Malaysia that is supposedly destroying mining rigs. This video shows the steam roller going over around 1069 mining machines that were used for bitcoin mining. What are your thoughts on this and how will this affect the bitcoin market?

Really why do they destroy mining rigs in Malaysia I think the government in Malaysia is not in support of using bitcoin as a legal tender or using bitcoin to transact in the country so I think that is why it was destroyed because if it is not the reason why the government would have found something to do the mining rig so as to put it back in place

 

[fiery phoenix]

Mining rigs can very expensive to put together and apart from the energy that is required in order to operate them, the equipment that is needed is very costly as well, and this is what prevents any person from being able to operate a mining rig out of the comfort of their home. However, in a recent news video that went viral, there is a steam roller in Malaysia that is supposedly destroying mining rigs. This video shows the steam roller going over around 1069 mining machines that were used for bitcoin mining. What are your thoughts on this and how will this affect the bitcoin market?

I happened to watch that video it,I felt for the rig owners because those machines are very expensive.All the machines costed an estimate of $1.25 million meaning they indeed had great losses.It remains the same issue in a lot countries that bitcoin miners don't want to mine legally by going through all the legal processes required to mine without being interrupted for crime

 

[Wisdom01]

but why where those mining rig destroyed ? , atleast there should have been some sort of reasons and not the mining rig been destroyed like that , probably it was destroyed due to the illegal miners that were mining Bitcoin ,the government have a reason for doing so if that's what happened ,the rate of illegal miners is on the increase

 

[Ben Kempton]

but why where those mining rig destroyed ? , atleast there should have been some sort of reasons and not the mining rig been destroyed like that , probably it was destroyed due to the illegal miners that were mining Bitcoin ,the government have a reason for doing so if that's what happened ,the rate of illegal miners is on the increase

I think this is because illegal mining rigs and farms is one of Malaysia's biggest issues. Malaysia is one of those countries where mining cryptocurrencies is a very common thing. Malaysia is the sixth country with highest Bitcoin miners, but still the Malaysian government often frowns upon the cryptocurrency mining activities.

 

[Wisdom01]

I think this is because illegal mining rigs and farms is one of Malaysia's biggest issues. Malaysia is one of those countries where mining cryptocurrencies is a very common thing. Malaysia is the sixth country with highest Bitcoin miners, but still the Malaysian government often frowns upon the cryptocurrency mining activities.

I won't blame the government if they frown towards illegal mining ,those illegal miners actually have farms that can consume huge eletricity supply that a supposed street have to use ,they are really more if a disadvantage , that's why some countries are even planning on creating huge laws against those miners

 

[a_jerobon]

I won't blame the government if they frown towards illegal mining ,those illegal miners actually have farms that can consume huge eletricity supply that a supposed street have to use ,they are really more if a disadvantage , that's why some countries are even planning on creating huge laws against those miners

I also don't blame the government at all for being this strict about the miners. Especially those who do it illegally. I bet you have to get approved first by the government if you show that you won't consume so much energy and that you will use green energy that does not have diverse effects. If you do it illegally then it means that you are going against these rules.

 

[Wisdom01]

I also don't blame the government at all for being this strict about the miners. Especially those who do it illegally. I bet you have to get approved first by the government if you show that you won't consume so much energy and that you will use green energy that does not have diverse effects. If you do it illegally then it means that you are going against these rules.

yes true , those government makes rules and regulations and it have to be followed , most of those mining firms always bypass those rules sometimes for their favour ,most want to avoid paying taxes to the government ,and at the end of the day they get caught and their mining rig destroyed

 

[BullyMaguire]

Probably doing Illegal mining on the country that's why they destroy the rigs.. However i think that was a waste they can just put those in auctions or use it themselves to generate new revenue for the country.. confiscating the rigs should be enough they probably do this to warn others aswell because those things are not cheap

 

[Ben Kempton]

I won't blame the government if they frown towards illegal mining ,those illegal miners actually have farms that can consume huge eletricity supply that a supposed street have to use ,they are really more if a disadvantage , that's why some countries are even planning on creating huge laws against those miners

Well, I also do not support illegal mining at all. This is because such kind of illegal miners usually consume a lots of electricity and in a country where electricity outage or shortage is a big issue, then such kind of countries could be more vulnerable to blackouts. However, I think that the government and technology experts should try to develop a way to mine coins that would be energy-efficient in some way so that mining could be done in a proper manner.

 

[Wisdom01]

Well, I also do not support illegal mining at all. This is because such kind of illegal miners usually consume a lots of electricity and in a country where electricity outage or shortage is a big issue, then such kind of countries could be more vulnerable to blackouts. However, I think that the government and technology experts should try to develop a way to mine coins that would be energy-efficient in some way so that mining could be done in a proper manner.

yeah the government needs to develop ways to mine coin that would be efficient , but I think some government of today aren't so interested in mining to make profit ,they are more concerned on other ways to mine cryptocurrency and others as well I think

 

[Ben Kempton]

yeah the government needs to develop ways to mine coin that would be efficient , but I think some government of today aren't so interested in mining to make profit ,they are more concerned on other ways to mine cryptocurrency and others as well I think

The actual problem is that mining costs a lots of energy. According to some financial experts, cryptocurrency miners spend approximately more than 70 percent of their total mining revenue just to pay the electricity bills and I consider this a very huge percentage if we compare it to the ration of profits they make.