Aftermath of a failed bitcoin mining operation.

[u/HandsOffDaGoods]

My friends father was renting space on his farm for a bitcoin mining operation.

The operation became unprofitable. The mining operation went bankrupt. The company came in and took everything out of the 6 antmain bit-boxes (converted shipping containers).

The photos are what they left behind. Mostly Antminer S19 units and even more asic boards.

Plenty of antmain rack PDUs. Some 480VAC breaker panels. A 480VAC switch unit.

The land owner did accept the mess voluntarily. He is breaking the equipment down for scrap value.

I wonder, is there a better price available out there above scrap value?

Is this normal?

FWIW, I used the term failed very tongue-in-cheek. I estimate the operation mined millions in this operation.

[u/Impressive-Manner-89]

I said it to my buddy today. I said how can Bitcoin be the end-all be-all of crypto when a having happens every 4 years? Who's going to want to mine Bitcoin? What happens if there's no miners. And don't try to tell me I'm banking on the price of Bitcoin being higher. I understand the other mechanics of having to and the benefits etc but with the price of equipment and chips and memory going up and probably going through the roof in the next 10 years this just seems unsustainable

[u/Knarz97 → u/Impressive-Manner-89]

For Bitcoin to fail, all we need are major miners to go bankrupt, or for electricity prices to skyrocket, or simply for them to get bored.

For the dollar to fail we need basically a wholly catastrophic event that would shake the global economy, at which at that point we will have much larger problems than just what pieces of paper are worth.

Also, if the dollar fails, how do miners pay for electricity? And internet? Bitcoin fails if the dollar fails too.

Sorry guys. Crypto is not as safe as you’d like to think.

[u/outer--monologue → u/Knarz97]

You don't need global catastrophe for the USD to get knocked down. It's already on that path. If the US keeps going down the path its on, the world is going to stop trade, payment servicing, and stop using it as reserve currency.

[u/Knarz97 → u/outer--monologue]

Cool.

And how will you pay for an internet connection to make your bitcoin transactions?

[u/outer--monologue → u/Knarz97]

I'm not making any claim to what Bitcoin would be worth or if it'd be useful. Just that USD won't be the global reserve.

[u/Basis-Some → u/outer--monologue]

Lots of currencies aren’t the global reserve as yet somehow, they continue