News Hard Drive and SSD Shortages Are Imminent If This New Cryptocurrency Blooms

Co BIY

Honorable
Jun 18, 2015
447
58
10,890
6
If someone would create a cryptocurrency based on picking up trash or housing the homeless...
Bitcoin makes GameStop at $600 seem like stuffing cash in a mattress.

The problem with an internet based mania is that it doesn't physically wear you out and so has nothing to bring it down.
 

Co BIY

Honorable
Jun 18, 2015
447
58
10,890
6
Announcing 14nm coin, use your favourite 14nm cpu to mine coins, any 14nm generation will work from 2014 to the current ones and future ones.
*Sponsored by Intel
Watch for AVX-512 mining app!

I'm pretty sure this storage coin is sponsored by WD in some way.

It goes to show that the "e-coin" concept has no barrier to entry and no limiting constraints.

What should follow is no growth in value!
 

andrewkelb

Reputable
Mar 10, 2018
18
25
4,515
0
I'll give it a couple of years, treat my GPU like its made of glass and hope for a better market. If things don't get better after that time, I will start to consider gaming on a console.
 
Reactions: Sleepy_Hollowed
Feb 9, 2021
14
2
15
0
This won't take off. Every computer on the planet and every smartphone on the planet..... Basically..... almost any device on the planet has storage, you got consoles, usb flash drives, tablets, Samsung smart fridges, desktops, laptops, Chromebooks, etc. With how much storage actually exists.... And every human on the planet with a device jumping in ... "hey it's free money"...... Difficulty would be so high you would be making like $1/day with 1PB. GPUs can get away with it because you don't have every single device on the planet mining because not every device has a GPU that can mine. GPUs are a lot more expensive which means not everyone can do it. There's a lot less so difficulty is lowered.
 
Last edited:

InvalidError

Titan
Moderator
Difficulty would be so high you would be making like $1/day with 1PB. GPUs can get away with it because you don't have every single device on the planet mining because not every device has a GPU that can mine. GPUs are a lot more expensive which means not everyone can do it. There's a lot less so difficulty is lowered.
Every device with a CPU can mine BTC, ETH and just about any other crypto-currency out there. There even used to be javascript miners embedded in pages to rob people's CPU time - doesn't matter how inefficient a mining method is when you aren't the one paying the power bill. The only reason GPUs are the preferred method of mining memory-hard coins is because they are the most cost-effective method of doing so at least for now.

Most people who own tons of storage today are likely already using it for something and cannot just sacrifice it all to crypto. If someone manages to successfully launch a storage-based crypto, people who want to hop aboard will need to buy new storage and storage prices will shoot up similar to what happened to GPUs this year and during the previous crypto-boom too.
 
Apr 18, 2021
1
0
10
0
CHIA is not first PoC coin. Mining on hard drives has been with out since 2014. I'm not sure if any of us noticed any price increase since then. Everyone is jumping on CHIA because it's a brand new coin. After first few month price will go down and it won't be that profitable anymore. If you want to check it out here's a page of biggest chinese mining pool: https://onepool.com/ . Miners are going after +6TB HDD and 2 TB enterprise SSD. Our 512 / 1 TB m.2 SSD's are safe :)
 

Co BIY

Honorable
Jun 18, 2015
447
58
10,890
6
Miners are going after +6TB HDD and 2 TB enterprise SSD. Our 512 / 1 TB m.2 SSD's are safe :)
Maybe not - For every 2 TB enterprise drive purchased chips that could have built 2 x 1TB drives are used.

My curiosity about how you could create a system out of storage when it has no compute is overwhelmed by my desire not to fill my mind with the idiocity driving the crypto bubbles.
 

InvalidError

Titan
Moderator
My curiosity about how you could create a system out of storage when it has no compute is overwhelmed by my desire not to fill my mind with the idiocity driving the crypto bubbles.
It is the same fundamental principle as memory-hard hashes, except you scale the block size to something like 8TB that cannot fit in RAM to make mining entirely IO-bound.
 

ASK THE COMMUNITY