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You used to be able to mine Bitcoin on a CPU. Then a GPU, now it takes warehouses full of ASICs to do it profitably. What's stopping Chia from doing the same
by samatman 6y ago
You used to be able to mine Bitcoin on a CPU.
Then a GPU, now it takes warehouses full of ASICs to do it profitably.
What's stopping Chia from doing the same thing to the storage space?
Adoption. I don't like Chia, and I don't want other people to like it either.
- jazzyjackson 6y ago> What's stopping Chia from doing the same thing to the storage space? The gobsmacking amount of HDD supply on earth. For now people are burning SSDs to create the plots (1TB SSD can probably create a petabyte of plots to "farm"), but if you have that petabyte of storage space you're keeping online 24/7, do you suspect playing bingo to win crypto tokens is the most profitable use of that memory? How the economics shake out remains to be seen, but I think they have a solid vision that farming can be just rewarding enough for people to use old harddrives, not profitable enough to burn NVMe sticks. eg: I farmed 2 coins running an old thinkpad and a network drive for a month so far. Worth ~$2200 at current rate. Nice profit, but probably not buying a new thinkpad to dedicate to it.
- samatman 6y agoThis is my issue: the only thing stopping it from becoming the most profitable use of that memory is the market value of Chia. Chia isn't cool. Chia gives you bad breath, and it makes dogs hate you. Spread the word.