Chia cryptocurrency is causing a shortage of storage drives

[Luciferlucky 0]

Hello my friends .. I have read many articles about the new chia coin .. and I would like to raise this topic about this coin..

 

Cryptocurrency "miners" in China are buying as many HDDs and SSDs as possible for Chia's storage-based cryptocurrency.
GPU-dependent gamers are dealing with the supply of high-end graphics cards due to the cryptocurrency miners buying all available cards.
However, the upcoming cryptocurrency could pose similar problems for the storage market.
Chia is a cryptocurrency that aims to provide a more energy-efficient way of generating currency by relying on unused computer storage capacity rather than GPU-based calculations.
The more unused storage space the metal offers to supply the coin as part of the network, the greater the profit.
And the prospect of a greener cryptocurrency appears to have triggered the storage market.
It is believed that panic buying could lead to a shortage of USB flash drives as prices increase, making high-capacity drives harder to come by.
This is similar to what happened in the high-end graphics card market, which prompted Nvidia to reduce the potential of mining and also urged retailers to sell GPUs to home users as a priority over the metal.

This is how the luxury goods sector has held up in the face of Corona
Given the large number of read and write operations required for Chia tokens, storage disks destined for bimetallic consumers, who are targeting enterprise-oriented storage disks, will not be targeted.

Some storage drive manufacturers are taking new buying patterns into account.
In the case of Chinese storage disk producer Jiahe Jinwei, both 1 and 2 TB NVMe M.2 SSDs, Gloway and Asgard, were sold, despite restrictions in place to prevent group purchases of consumers' drives.

The company is increasing production to match demand, and it is also said: It is developing specialized SSDs that specifically target this type of mining.
Given it is a relatively new cryptocurrency, the growing demand for storage disks is relatively small at the moment, but the requirements for the miners could grow over time if Chia gains more support.

[aliahmadali5854 92]

Thank you for this useful topic .. Actually you have read some articles .. although Chia is still not listed on Earth, but Chia is causing fever in the world of mining in China, many people have spent huge sums of money to buy hard drives and drives Clean SSDs are waiting for Chia launch

[Lucky jojo 7]

I agree with you what you said, my friend ... With ChiaCoin, instead of solving equations, a miner's requirement is to store data on their storage devices. This is known as farming, rather than mining. The faster someone can store files, and the more quantity they can store, the higher the chance of getting their compensation from the network.

[Ali7Issa 1]

I've never had a mining farm, and you can't remember it on a home computer, since the complexity is so great than it was before. . But on hard drives, I think there's a chance to go mining and grab a piece of cake. It is better than absolutely nothing.

[SoooS555 208]

Thank you, my friend, for writing this post about this coin chia ..
As for me, I did not have interesting information about it, but I will search and learn about it so that I can use it in the future after I study what I can benefit from or not.

[guatazoo 7150]

But I think this is better that proof of stake because not everyone wants to stake coins. So while this coin comes with a method which consumes storage, many people could prefer this one.

[batool_yaseen 259]

The specified SSDs are expected to fail within 2 weeks / month ... Turns out the plots are instantly lost, and the business wasted? For example, the "time limit" is 3 months (This is a very good time to get a decent device), then at least one coin cannot be collected with this complexity, because the disks will penetrate fast

[anas dahabi 0]

Chia, a new cryptocurrency that allows anyone the ability to verify transactions without dependency on single-use hardware, has launched. Tokens stemming from the Chia network will use a proof of space and time verification algorithm, called proof-of-space, which relies on storage.

With the launch of Chia and a new wave of cryptocurrency growth, storage demands have soared and capacity is a major concern. In fact, the Chia project has caused shortages of high-end hard drives and SSDs in China and impacted secondary markets.

In support of the Chia initiative, RAID Incorporated’s Ability 4U 90-Bay with 18TB drives are in stock and ready to ship.

[Rs Rimon 45]

Thanks my friend,  for this wonderful information in my opinion,  i think that there will be no shortage of storage drives, but rather their price will only increase. This is a very good time to get a decent device,  then at least one coin cannot be collect with this complexity,  because the disk will penetrate  fast.

[Dagamand007 12021]

On 01.05.2021 at 12:07, Luciferlucky said:

Given the large number of read and write operations required for Chia tokens, storage disks destined for bimetallic consumers, who are targeting enterprise-oriented storage disks, will not be targeted.

Some storage drive manufacturers are taking new buying patterns into account.
In the case of Chinese storage disk producer Jiahe Jinwei, both 1 and 2 TB NVMe M.2 SSDs, Gloway and Asgard, were sold, despite restrictions in place to prevent group purchases of consumers' drives.

The company is increasing production to match demand, and it is also said: It is developing specialized SSDs that specifically target this type of mining.
Given it is a relatively new cryptocurrency, the growing demand for storage disks is relatively small at the moment, but the requirements for the miners could grow over time if Chia gains more support.

After the Chia (XCH) coin dropped a lot in price, many miners left their farms and started selling their hard drives. Now the price of hard drives has already normalized.
It seems to me that when Ethereum switches to POS mining, users will start looking for alternative sources of income and Chia will be an excellent option for this business.