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Actually, this would be useful. Donate blood to local blood banks and get coins. Blood is an actual thing that is consumed and needs regular replenishing. This is a much better use of resources than wasting electricity.
This will be a monumental drama. At one exabyte storage, with 64 coins issued per 10 minutes, there is a chance for 1 coin in 3 years per 100gb of farming.
When this speculation blows, it will generate a lot of popcorn. I like popcorn and drama, especially when they come with VPS storage offers, from all the hard drives which will be sold on eBay (as @Francisco mentioned).
Let they hype train carry on (without me)!
Just mine Chia and use your gains to buy expensive HDDs.
At least with Hardrives you can still find a use for them unlike having more than 1 GPU
chit lol
cant wait until ramcoin becomes a thing and prices skyrocket on those... or gascoin where you just film yourself running the engine of you car in the garage...
or mobile coin you install the app & keep it runing
What about mining with LTO Ultrium?
that's not going to work, as you need to be able to access the data eventually in case one of your plots might hold the needle in the haystack. random access times will then get in the way.
while the data will only very rarely be accessed, you still need that to happen (fast) to eventually find your luck.
What'll that coin be worth, minimum?
minimum ? $0.00.
Some people are thinking around what filecoin is which is $130 or so.
People need to think though. The actual 'farming' process can be done on a raspi, so long as it can access the drives over USB or similar.
The drives have value in a couple years too, you can't say that about your old ASIC miners. In 2 - 3 years those drives will still have a lot of value so even if you only make a coin or two, you're spending almost most no watts for the drive to just be sitting there idle (especially if you got 5400 RPM drives or other low power units).
Francisco
And this is where speculation starts. Technology evolves, and it's easy to assume that new HDD drives with larger capacity will be produced for farming. This will lower the chances of getting coins, making coins rarer, therefore more expensive.
On a different note, it is possible that people will quit on Chia, as HDD drives already became more expensive. However, it's easy to hold a rig with just a Raspberry Pi 4, many drives attached, and an internet connection.
In the end it's all speculation about value of a virtual coin and how the market will be tomorrow. Personally, I trust science and mathematics, not speculation about a possible future.
How hdd's react to such mining? Is it write/read intensive 24/7? Thinking about aftermarket and when those precious storage unit hits it.
the pure farming is rather heavy idling. you need to have them laying around and online and only once in a while your hdd might hold a candidate for a proof. only then it's gonna be accessed to make a few jumps through that specific data table. in general only entry hashes will be checked which are rather hold in memory. so that part is really light on ressources and even less in wear down. creating the plots beforehand is not, but that's more or less a one off - unless you want to compete the growth of network and focus on increasing your size all the time...
It depends on whether the storage is used for farming or plotting.
Plotting:
Anything what's used for plotting will get abused 24h/7 until it dies. Some people use even HDDs (especially datacenter / enterprise types).
HDDs are least likely to be used for this due to their low speeds, but some people also put them in raid mode to increase speeds so it might be possible to come across them in the future.
The focus here is mainly on speed and lifetime and these I would be worried of buying used. The ones being targeted are mostly 3 DWPD drives, though many miners use consumer grade SSDs.
Farming:
This is extremely light, nearly always done on HDDs - both internal ones (likes of Toshiba MG08, Seagate Exos 14TB+) as well as external USB connected HDDs with likes of WD Elements / My Book and similar.
The bottom line is, if someone gets HDD which was used for farming, it should be completely ok. But, getting a used plotting SSD will most likely be really, really bad. I've heard that the problem with SSDs has risen to the degree that some manufactures say that plotting on their drives will void the warranty.
If Chia does not go well... in a year or two will providers be tempted to buy from eBay such idling (but powered on HDDs), which were used for farming, and use these in storage offers?
I am not a provider, so I can't guess the answer. But I am curious what others think.
Apparently "Chia Cryptomining Causes 500% Increase In Adata High-Capacity SSD Sales" according to Tom's hardware - https://www.tomshardware.com/uk/news/chia-500-percent-increase-adata-high-capacity-ssd-sales
I think that if the trend continues we might be in for a rough ride for a while with prices of good SSDs.
It's already too late. Prices are going up, and up... to the moon (as some like to say).
yes. and as you pointed out, these are things you do not want to buy afterwards. this potentially will f*ck up the whole aftermarket, as you can't tell for sure and regular people don't even understand how the lifetime of these devices work.
I think while a bit unintended the whole concept has it's weak point at the possibility of plotting becoming the 'real' mining / competition here.
(cheap) storage for the plots is not a real limiting factor for growth right now. even the creators are surprised about the unexpected quick network increase.
I'd see this as an analogy to the unexpected creation of asics which changed the mining market/concepts back then.
with chia for now the race is still about creating as much plots as possible to hold a bigger share and increase chances. it's not yet about the storage for them. the network went above one exabyte already, so seems for now it is no real problem to acquire enough storage for that...
https://www.reddit.com/r/DataHoarder/comments/n007gq/somehow_these_were_the_cheapest_16tb_drives/
We need to create that movie (fake english subtitle translation) with Risitas talking about Chia coin.
Meanwhile... El Risitas died yesterday. Rest in Peace Risitas! You were funny and your laugh will always be remembered.
Nothing beats the original tho
I have around 50 2TB WD Enterprise drives i do not need anymore - Pay shipping and you can have them for some parts of the profit, if any.
I don't think you can even sell chia lol
Yes, yet - Thats why i'm looking for someone that will take them, run the cluster and give me like 5% if there ever is any profit.
Ultimately i lose nothing as i have no use for them anymore anyway and they are hazardous waste here so i need to pay for recycling.
We literally shot at some and threw others from high buildings and into the sea, but even that gets boring.
I'd pay for some for regular use tho. lol
LOL!
2TB drives are still worth money, not much but they are. Gaming systems for example can use them.
Tho the electricity use alone means they are juuust barely worth it on professional environment. If they are already installed, or install is super quick.
We dropped last 2TB drives from production already like 2 years ago. Still got 3TB drives live tho, and plan to upcycle them into some 12x servers.
I’ve got the growing idea that getting into chia harvesting now is already too late. Chances to really make a profit after buying or renting that storage becomes slimmer every minute.
It’s a lottery.
11 years ago was late to Bitcoin mining as well?
You could give them for free.
Consumers can still use them as cold backup for example, to keep their pictures or their stash of linux iso, or to install applications on them.
As a provider, you could attach a sticker of your company to them, and give them as gift to your customers, increasing advertising and loyalty. They still have great value for consumers and customers.