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

[Admin]

Cryptocurrency miners are snatching up hard drives and SSDs in China in wake of the new Chia cryptocurrency.

Hard Drive and SSD Shortages Are Imminent If This New Cryptocurrency Blooms : Read more

 

[Phaaze88]

R.O.F.L.

 

[Nemesia]

Lol yikes

 

[Exploding PSU]

At this rate someone will probably find a way to mine using PSUs, and my username would rise to fame once again

 

[helper800]

Next up minning coin X with RAM capacity and data rates. Whats next hmmm? Start minning coin Y with excess fan RPMs and radiator pump speeds...

 

[Sergei Tachenov]

I really hope the next crypto will be mined with RGB because at the moment I see no other use for it.

 

[excalibur1814]

Stories like this will catch the eye of the oems. Cha-Ching!!! Raise those prices and blame stories like this. Sure, it might be true, but give an inch...

 

[peachpuff]

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

 

[InvalidError]

Great logic there: avoid a power grid collapse by trading the power footprint of conventional crypto-mining for storage-driven crypto that will have much greater manufacturing carbon and e-waste footprints.

Let's get back to basics and mine this way while we're at it:

View: https://www.youtube.com/watch?v=8EoxggHmWxY

 

[sstanic]

this is exactly the opposite of April 1st jokes

 

[Chung Leong]

If someone would create a cryptocurrency based on picking up trash or housing the homeless...

 

[Co BIY]

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]

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!

 

[thisisaname]

E-coin more like e-waste

 

[veszerin]

Ugh. It wasn't enough for cryptocurrency to completely ruin the processor and video card markets? What a dumb idea.

 

[R_1]

this is why Toms will eventually only cover mining equipment, the rest of us will be priced right out of our hobby, IDK how long my 10 year old GPU will last and I cannot afford to sell my house to get a new one cause, you know, electricity burning fake money.

 

[Rinnosuke]

Not the first one of these, Storj was first I think, with at least 5 or 6 more using storage for mining.

 

[andrewkelb]

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.

 

[Coins444]

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.

 

[InvalidError]

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.

 

[Krotow]

ROFL. Let mine with keyboard, mouse and case fans. I adore fools who are ripe to fall into another pyramid scheme again and again and again. I hope that at least governments will shut their stupidity tap as Turkey did 2 days ago.

 

[Bibr]

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]

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]

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.

 

[ClapTrapper]

What's next in this Computer Apocalypse? I am half expecting someone to find a way to mine crypto with my tears.