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Storing data has low cost versus continuous computing. This is what makes Chia mining have less external impact. Unused storage space can be used to make a litt
by leppr 5y ago
Storing data has low cost versus continuous computing. This is what makes Chia mining have less external impact. Unused storage space can be used to make a little bit of money.
If the "useful" data you're talking about has nobody willing to pay for its storage, is it really that useful? That's where the economical argument is with Chia: rewards are already low, and will get lower with time. So if some data has any kind of value, then there's no incentive to mine Chia instead of storing this data. Just store the SciHub library and rake in donations.
Hetzner decided there's more value in reserving their hardware for other usages. If the incentive to mine starts getting very big, then they can just mine themselves. From a blockchain-security PoV this is the same as customers-managed mining. Crypto mining incentive mechanisms are working as intended here, so as a cryptocurrency enthusiast I don't consider this development negative.
It's easy to look at something new, the use of it you don't understand, and instantly conclude it's stupid. "Why make data use up x10 more space by encrypting it? You should just store it in a secure location to begin with! Disk encryption is a scam!". "Why waste resources to secure some distributed ledger when you could just use Visa and Mastercard? Cryptocurrencies are a scam!"