General > General Technical Chat
Is CHIA farming going to send hard drive prices soaring?
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wilfred:
I subscribe to a YT channel called "Dave's Garage". Today I watched a video where he set up a CHIA farming rig and apparently it uses hard drive storage space to create coins (or whatever they're called IDK). First I've ever heard of it. I hope he doesn't go nuts about it. I'll unsubscribe.

I'm not so interested in whether or not it is possible to make money from crypto of any kind, just if this is the sort of thing that will take off and lead to a massive surge of demand for hard drives and farms of machines with hundreds of attached hard drives.

Will this be more (or less) energy intensive way to generate coins? Or does the cost just shift to creating worn out hard drives?

A link to a clear analysis of it would be appreciated.
AmnevaR:
Hi! I don't have a link to a clear analysis of it... but i do have a link to 3 year old video from LTT about mining Burstcoin

 

I think hard drive market will be okay  :-+
pardo-bsso:
Storage will be fine.

But think of all the switching power supplies with near perfect power factor that will be needed xD

(when I saw the title I almost thought of our beloved forum member)
oPossum:
Seems to be quite popular.
These are out of stock everywhere.



Cha cha chia.
NiHaoMike:
My experience with Burstcoin mining is that while it is indeed far more efficient than coins that are mined with GPUs, it gets similar efficiency to the coins mined with cheap smartphones but the initial cost per profit is much higher. Therefore, I just mined it with a HDD that I got on sale, making back about half the cost of that HDD before I used the space for other purposes.

Pretty much everyone has spare HDD capacity lying around and some intelligent software to use that for mining but immediately return it to the user when needed would be a good way to make use of it.

What I would like to see is a cryptocurrency mined by hosting content with low cost, low power computers like Raspberry Pi, with the goal of making an alternative to Youtube. Going a step further, a cryptocurrency that's mined by creating a P2P wireless mesh network would be even better although I don't have a clue how such a system could be made to work. (Maybe in the beginning, users could effectively get paid to share their Internet service with something like Tor, I2P, or VPN to avoid the usual problems with doing so, while other users could pay to access those wireless networks.)
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