Chia Coin to cause storage shortages and price surges

Well, I'm glad I'm set at least for a while with 60 TB of storage in my NAS plus another 40 TB in my desktop.

What a weird way to base a crypto coin.

Regards,
SB

 

Someone on here just ordered hundreds of ram sticks right? That would be blazing fast for mining this coin (ram as virtual disk)

 

From my understanding you don't need super fast storage for this. Your network bandwidth is probably more important.
A friend of mine used to run a node for BTFS (a copy of IPFS on Tron blockchain) and it ate a lot of bandwidth. It also stopped being profitable after the "airdrop" of coins stopped (i.e. people are not that into buying not-so-reliable storage space after all).

 

This stuff makes me so mad.
I'd be OK with them if they were actually doing meaningful work like running SETI at home/Folding or genuinely providing real 'cloud' processing/storage to generate the crypto-currency.
But the established ones are literally all about who can utterly waste the most electricity/CPU/GPU cycles and now this is about wasting HDD space/read/write cycles.

We have like minus 20 years to balance our carbon budget and we're letting this shit waste our electricity, Leonidas would have kicked these bastards down a well years ago.



/rant

 

Cryptocurrency CHIO can destroy an SSD in 40 days (guru3d.com)

 

Already made our vendors raise prices on SSD's with 30%.
We do not use spindles anymore

 

This coin deserves to die an early death. There are much better alternatives now for mining of any sort, and this is just another complete waste of resources.

Something like Nano doesn’t need any, not for creating coins (which is already complete but also hasn’t cost barely any resources of any kind) not for transactions, and transactions are free as well, even consumer level transactions would be, so perfect.

Cardano and Algorand are similar and there are more out there.