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-   -   First Gpu's now storage space to mine coin... (http://www.rage3d.com/board/showthread.php?t=34052554)

pax Apr 18, 2021 01:32 AM

First Gpu's now storage space to mine coin...
 
https://wccftech.com/hard-drive-and-...ency-succeeds/




Quote:

The new Chia cryptocurrency is unlikely any other relying on storage space in hard drives and SSDs. Bitcoin relies on a proof of work model whereas Chia relies on a proof of space and time model. The motivation to create Chia was to make a more environmentally-friendly cryptocurrency. The man behind Chia is Bram Cohen, the creator of BitTorrent, and he wants to use the available space on storage devices for his cryptocurrency since SSDs and hard drives consume less power, are cheaper, and readily available compared to the power-hungry and hard to find GPUs used to mine Ethereum.

According to the report, miners have seen this new cryptocurrency emerge and are going out and buying all the storage devices they can even though it hasn't been listed for trading yet. The mining process of Chia requires a large amount of free space and runs many reading and writing operations. In this case, endurance is equally as important as speed, so consumer SSDs aren't the best choice for mining due to their lower endurance, and running these operations will significantly reduce the lifespan of an SSD. The target for these miners are hard drives and data center SSDs.
FFS

koralis Apr 19, 2021 10:29 AM

Quote:

Originally Posted by pax (Post 1338281005)

I don't get it... in theory Bitcoin is an intermediary for selling someone processing power, right? There's no freaking lack of storage space in the world.. why not buy it from amazon, etc?

What is the POINT of this, other than to go public and bilk people?

xCLAVEx Apr 21, 2021 05:17 PM

Whelp, enjoy being able to buy storage drives at a relatively low price and being able to find them while you can. NAS drives in particular will be hard to find as well as externals...

bill dennison Apr 24, 2021 04:38 AM


Greasy Apr 24, 2021 10:14 AM

Welp, I guess I'll start fishing more. PC gaming and building as my hobby just isn't going to be possible if we keep coming up with new bullshit money making schemes using those parts...

bill dennison Apr 24, 2021 02:25 PM

Quote:

Originally Posted by Greasy (Post 1338281960)
Welp, I guess I'll start fishing more. PC gaming and building as my hobby just isn't going to be possible if we keep coming up with new bullshit money making schemes using those parts...

need a boat here all man made lakes

a new bass boat most likely full of chips they can't get now :bleh:


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