Emerging storage-based cryptocurrency Chia could jack up SSD/HDD prices in the future

noel24

Posts: 717   +850
Other than a lack of new GPUs, I wouldn't care much about any crypto. On the surface it's a currency, but It's not backed by any state, so at This point, with all the craze, It's an obvious bubble and scam like subprime mortages in the 2000's.
What really scares Me is that probably some of Our retirement funds & bank securities were drowned in This worthless sh*t, and when It burst, It will be a real sh*tstorm. 2008 crash Was about US market, and We could feel It for years in Europe. Coins are global craze.
 

terzaerian

Posts: 766   +1,097
I really don't get why people use this as an argument. In case you haven't noticed, pretty much everything governments touch only end up going worse, not better.
People seem to forget that what states back, they can also take away. And the reasons they use to take things away are daily more capricious and asinine.

Also, the utter irony of using the subprime mortgage crisis as a criticism of crypto. That crisis is why Satoshi made Bitcoin in the first place, exactly because governments were bailing out banks that should have failed.
 

noel24

Posts: 717   +850
I really don't get why people use this as an argument. In case you haven't noticed, pretty much everything governments touch only end up going worse, not better.
OK, It was abbreviation on My part, It's not backed by anyone. My way of thought was with Ryan Gosling in 'Big Short', explaining that house securities were once backed by US Governement, but became free market tool. So is Bitcoin today?
 

duckofdeath

Posts: 285   +379
When will authorities start fining these manufacturers for SCAMMING THE CONSUMERS with all of these mining lies? They deliberately keep supply down and jacks the price up to 2-5 times over what they should be selling them at.

This is just another lie. Please stop posting **** like this without questioning it, gadget bloggers.
 

Mighty Duck

Posts: 176   +119
Did you miss this story, or what?


Or are you just ignoring it to fit your nocoiner narrative?

Besides the fact that, as passive income goes, crypto is actually the most accessible form there is. Stock dividends and other traditional financial chicanery require enormous up-front investments comparatively, while you can mine with as little as one 1050 ti.

There you go with that Vietman cafe again. Do you have any other example of poor people earning a living and improving their lives with the help of crypto currency? Or perhaps it's mostly rich slobs who don't want to get a proper job the ones who have those farms?
 

brucek

Posts: 763   +1,035
TechSpot Elite
If this was not somehow initiated by the HDD manufacturers, it should have been. I hope there's a smoky backroom full of storage industry execs getting drunk and laughing their heads off at the gullible hoopleheads going along with this...
 

NightAntilli

Posts: 549   +635
Work more and stop dreaming about bubbles. Money is not easy to get. Every bubble will eventually find its pin.
Tell me something. Is someone working two jobs, 60+hours a week, say, as a cab driver and a cleaner, making more money than a psychiatrist working 32 hours a week? What about an apartment owner that rents them and can do other stuff on the side?
Thinking that more work means more money is the typical mindset of the working class that never gets rich and never amounts to anything.

Smart work > More work
Passive income > Active income

It's not a dream when I have gained more than a year's worth of salary in profits in a couple of months. So do yourself a favor and stop making a fool of yourself.

And... I repeat; I don't take advice from the financially illiterate. Stop telling others what to do, especially when you have no idea what you're talking about.

Why don't you take your own advice and do some actual work, instead of trolling on the internet?
 

PEnnn

Posts: 604   +571
Anyone find it alarming how our country is falling apart fast? Is this due to the destruction on purpose from Democrats and China or just China?

Everyday I see this country break down piece by piece brick by brick WTF? Am I going crazy?

Actually, what I find alarming is the epidemic of human stupidity, especially on allegedly smart tech forums..
 

terzaerian

Posts: 766   +1,097
There you go with that Vietman cafe again. Do you have any other example of poor people earning a living and improving their lives with the help of crypto currency? Or perhaps it's mostly rich slobs who don't want to get a proper job the ones who have those farms?
Many such examples.


I would posit that the antis are mostly disgusting boomers that, having destroyed the country, economy, and planet through their wanton disregard and greed, are now trying to throttle the one technology that will break their death-grip on society.

Indeed, where they concern troll about the environmental impact of Bitcoin, they would know, as they're the subject matter experts through direct experience in said destruction.
 

Markoni35

Posts: 1,015   +406
That new crypto currency was probably sponsored by Samsung and other SSD manufacturers. Maybe in a few years they'll completely move to that currency, so you'll only be able to buy a new SSD using their SSD-based coins.

(...maybe I shouldn't be giving them ideas...)
 

Geralt

Posts: 165   +145
TechSpot Elite
Tell me something. Is someone working two jobs, 60+hours a week, say, as a cab driver and a cleaner, making more money than a psychiatrist working 32 hours a week? What about an apartment owner that rents them and can do other stuff on the side?
Thinking that more work means more money is the typical mindset of the working class that never gets rich and never amounts to anything.

Smart work > More work
Passive income > Active income

It's not a dream when I have gained more than a year's worth of salary in profits in a couple of months. So do yourself a favor and stop making a fool of yourself.

And... I repeat; I don't take advice from the financially illiterate. Stop telling others what to do, especially when you have no idea what you're talking about.

Why don't you take your own advice and do some actual work, instead of trolling on the internet?
But you are not renting any 'real' apartment, man. You are just trusting a bubble with no support from any state. Your money is just so real like your dreams every night. You will wake up some day.
 

Geralt

Posts: 165   +145
TechSpot Elite
That new crypto currency was probably sponsored by Samsung and other SSD manufacturers. Maybe in a few years they'll completely move to that currency, so you'll only be able to buy a new SSD using their SSD-based coins.

(...maybe I shouldn't be giving them ideas...)
Yes, better not to feed the morons.
 

NightAntilli

Posts: 549   +635
But you are not renting any 'real' apartment, man. You are just trusting a bubble with no support from any state. Your money is just so real like your dreams every night. You will wake up some day.
I think the biggest bubble burst and largest wake-up call is the collapse of the government-backed USD.
 

Geralt

Posts: 165   +145
TechSpot Elite
I think the biggest bubble burst and largest wake-up call is the collapse of the government-backed USD.
I trust the government of USA. It is a powerful country. Why should I trust the dream of a bunch of walking zeros instead of a very solid democracy which has lasted for almost 250 years practically intact?
 
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Geralt

Posts: 165   +145
TechSpot Elite
Actually, what I find alarming is the epidemic of human stupidity, especially on allegedly smart tech forums..
Humankind was always stupid for the most part. Hence there were two world wars, you know. Only stupid people can have two world wars in the same century. And it has happened very recently, not in the remote past.
 

NightAntilli

Posts: 549   +635
I trust the government of USA. It is a powerful country. Why should I trust the dream of a bunch of walking zeros instead of a very solid democracy which has lasted for almost 250 years practically intact?
You do you. In five years or less, one of us will have learned our lesson.
 

Dimitrios

Posts: 764   +592
Actually, what I find alarming is the epidemic of human stupidity, especially on allegedly smart tech forums..

I have been collecting articles of our country and with all the weird issues with our technology with our restriction & spying with hardware/software. First it was spying, virus issue, banning certain hardware/software and our countries is slowing down and THIS INCLUDES our military funding and advancement in tech. I also notice YOUTUBE and FAKEBOOK geting involved with freedom of speech and social media cherry picking comments. I can go on forever.

This includes our voting, our health and other stuff. I'm too lazy to mention other cra* and don't want to drag this issue further. Wake up buddy get your head out of the sand!

This country's progress is slowing down at an alarming rate and when doing research most of the time it tracks back to Chinaaaaa.
 
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Satish Mallya

Posts: 195   +184
TechSpot Elite
The issue with Filecoin is that the barrier to entry is huge. You need at least an 8 core CPU, 128GiB of RAM, and a minimum of 1TB NVMe SSD drive. You'll pretty much have to build a system specifically for Filecoin.

SiaCoin has a lower entry barrier, but there seems to be a dispute and issues between team members about the viability of this service. In any case, 4TB of free space on an HDD is what they consider a good entry point, and you need 2 CPU cores and 4GB of RAM. You still need a 60GB SSD though, and combined with the 4TB, that's still quite a high entry point. But at least the rest of your system doesn't need to be as powerful as Filecoin. And you have the choice to mine with ASICs to be profitable. But that makes the whole thing convoluted, as you have both hosts for the files and miners for the blockchain validation.

Storj is the best of all in that regard, but, it runs on ETH. You only need 1 CPU core, 550GB of disk space, and some requirements on your internet connection, which are quite stringent though.

Chia in this article, is quite similar to Storj, but, it has its own blockchain, rather than running on ETH. So it's more similar to PoS than PoW, and despite needing 4 CPU cores and 2GB of RAM, it needs less than 400GB of space, and can more easily run on pretty much anything. It's also extremely lenient on your internet connection, as opposed to all the other ones.

I don't see this putting a strain on consumer storage though. Hardware failure is going to be costly here, so barely anyone would want consumer storage hardware as their first choice. It's going to be the enterprise solutions first, then maybe stuff like surveillance storage, since those are made to run 24/7, and then the likes of Samsung 970 Pro, and only then will we arrive at 970 Evo-like hardware. I doubt hard drives will be a priority at all.
Hard drives are *cheap* by the megabyte. You can form them into RAID arrays to overcome reliability issues with redundancy, while *still* being cheaper by the megabyte.

OTOH, redundancy could be built straight into the crypto, with storage rented out by the megabyte to consumers with no guarantee of availability (think BitTorrent, but with monetary rewards for seeding, and someone is paying to keep the torrent alive).

There's potential if something similar can work at a granular level.