Nope, it's not at all the same: https://docs.filecoin.io/mine/hardware-requirements/whats with all the Chia coin shilling. You guys act like it's the first crypto to offer a proof of storage blockchain. Filecoin offers the same technology, is not based in China, and has mature tokenomics. You can't even buy Chia coin.
The biggest roadblock right now, IMO, is that there's no proper pooled mining -- everyone is basically flying solo. So the big mining groups can scale up way faster than individual miners (farmers), and if you want to have a reasonable chance of solving a block and getting paid, like say once per two weeks, you'd need at least 36TB of storage filled with plots. At an ambitious ramp in plots, a single PC might be able to add 24 plots per day, so it will take 15 days just to create the plots.It is still worth because prices of hard drives are still fairly low, even though they have gone up considerably with this Chia mining. I am not surprise as this gets more popular, prolong shortage due to extremely high demand will see the drive prices trend upwards. At some stage it will hit a tipping point.
It wouldn't surprise me if they had piles of review-sample drives grinding away at mining them.whats with all the Chia coin shilling.
I would think a "viable" coin would be one that sees widespread use as an actual currency, not just a useless collectible to trade in for real money to speculative investors before the market for it inevitably collapses. Like other cryptocurrencies, this is just another scam designed to make the creators and early adopters money by essentially stealing from those who will eventually be left holding onto what is essentially a worthless product....and Chia has a long way to go to prove itself a viable cryptocoin.