Buried in the foundation, used for filler in the pilings, and mixed into the parking lot. <G> I'm sure the chip pulverizer works good for those that don't have new construction.
I have heard rumors (take it for what's it's worth?) that one of the tribal casinos in WI dumped them overboard, into a lake. I'd like to dive for these, but it's on tribal land/water and I don't think they would approve.
Another simple method was a 55 gallon drum, which had holes punched (shot?) into it. The drum was rotated and the chips destroyed by the sharp edges. Of course if it's too cold and the party has been going on for some time, a few boxes of chips may just get taken home for personal use.

I did find that if I have one of a chip, and I'm admiring it, it will slip out of my hand, hit the concrete just right, and take a chunk out of it. But those cheap chips are indistructable! lol