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well, considering we had the peak capacity delivered today, peak number of capacity ON order, peak amount of capacity on delivery queue ....
Yeah, HDDs might become short in supply, but only for the largest right now it seems.
and here we see a person with no idea of what is money, what is currency, and how all of that pesky FIAT currency thing works. There is several Zeitgeist documentaries which will help you with that
After learning how FIAT CURRENCIES work ... You might change your mind. Never mind the technological advantages crypto gives. Next evolution in MONEY ... no not currency, that's different thing
My idea of money is "something" which everybody is able to handle (not only IT nerds), what other people give me in exchange for my work and in turn I can use to pay my rent, electricity, water, food, go to the theatre etc.
What's yours?
At least here you won't find an employer paying you with digital coins. Nobody will rent you an appartment, either. No way to get electricity, food etc.
Of course your world and surrounding environment might differ from mine.
If somebody gives you thousands of dollars for something you have, that's fine. Supply and demand.
I personally wouldn't even spend a cent for any bitcoin, chia, whatever; as it simply has absolutely no real value at all for me.
Also with those "currencies" rising and falling so huge within shortest time, one simply cannot rely on them. Wouldn't it be horrible to imagine the value of your monthly salary could easily decrease by 90% until your next electricity bill?
And be honest: Would anybody deal with any cypto currency if there was no way to exchange it to a "real" currency (USD etc.)? I highly doubt that (at least for most people).
Whenever I read about some new digital currency being invented, it's always the same: Invest early (as most of these currencies reward early adopters), hype it, hope for exploding prices, sell it, forget it.
If it is about speculation, making money and enjoying greed, well, even then I'd prefer other less ressource-intensive ways. Though Vegas probably isn't the best example for preserving ressources.
I clearly don't like the idea of "infinite money" either, which unfortunatelly is what we see with most real currencies nowadays. But when I have a look at the Bitcoin chart and notice a hike of more than 10,000% within just 5 years - than I'd say that's even worse.
@dfroe - The problem behind it all is greed. Money does not represent value either. Money is issued by countries without any actual cover in wealth.
In the beginnings money represented the value in itself as material from which money was built (gold, silver, copper). Then money was made from cheaper value, but covered by some form of wealth of an issuing country (gold, silver, copper, tin, diamonds). Now money is covered, related and calculated, just by other money of other countries.
I know this sounds as a conspiracy, but it's truth. A small group of people control all this balance, in order to maintain peace and happiness in masses. Countries are being controlled arbitrary, so we would not go to cheat on each other too much in issuing coin without cover.
Every year money is issued more and more by every country, and only related to each other. If you ponder on it, it's mind blowing, because the largest amount of money is actually not in circulation, but held to preserve the feeling of peace while people are working to evolve society. This is not necessarily bad, but is actually quite good because we are not in some weaponized war. Having some small group in control, thinking about the greater good, is extremely important.
In my opinion, all this chase for money, cryptocurrencies and value, is just smoke of a burning greed inside our human nature, replacing the priority of being and enjoying, with priority of having and controlling. But I like to believe we are slowly changing these. Tests were made by the group, and I guess we passed these successfully to be able to completely quit on money one day, and explore the world like in the Star Trek movie series, enjoying the evolution of our short life because we want to. (I love sci-fi movies)
Not many regular people buy used SSDs or HDDs. Those who do can use SMART info to find the endurance and power-on-hours of the drive.
Buying hard drives on eBay was always a game of roulette. If a seller doesn't specifically say "0-hours" the NEW drive they sell has usually been in-use for years. Stick to eBay sellers with large quantities and lots already sold from their listing, and still check them out immediately after receiving them.
Amazon makes buying everything but the latest models of hard drives a complete sh*t show. They try to hide who you're actually buying from, randomizing it on every visit to a listing. They mixing stock from various sellers, their "Amazon Warehouse" just sticks a "Used - Like New" label on every bit of broken trash that's returned to sell it on to a bigger idiot, only switching to lower grades like "Acceptable" after a few returns. Final straw was their "Amazon Renewed" program which is really just "used" but now sellers CAN'T specify the quality of the items they're selling (Like New/Very Good/Acceptable), it's all just a random selection of "Renewed" and it has taken over a lot of listings.
Well, seems that I was an idiot and bought 14TB Toshiba drive from Amazon Warehouse when other options were not available and prices of alternatives were just too high.
I think that the only problem with it was that the box had a 2 inch clean tear. In the end it turned out to be not even "used - like new", but "like new".
8TB drives are up $50/ea it looks like, with 14TB drives now in the $450 - $500/ea range.
May see netspace cross into 4EB in the next couple days given the 500PB/day growth patterns.
Absolutely crazy, especially given the recurring cost is so low to keep farming.
Francisco
it's not 500PB/day though. there was a drop around that the day before and it came back online over the last night. the real growth seems to be around 150-200PB/day for now and is still a lot.
yes.
there's been days it was 500PB if you check back
There was a big drop and rebound because of a network update I'm assuming.
Francisco
yeah but it wasn't anymore before that big drop, I do check regularly it's an interesting unpredictable game anyway ;-)
maybe there is another wave coming with people expecting to be able to plot for pools soon. could also slow it down though, if people want to replace their existing plots with pooling capabilities - who knows.
Did creators sell their coins? Maybe it's just pumped by farmers/plotters now.
With a Chia worth over $1000 on first week after release, and a HDD market which already absorbed 3.5 exabytes to put into farming (incresing prices like crazy), I think now it's the best time to sell the whole thing and get stupidly rich. This coin screams to be sold. It can't go to the moon while storage becomes short and expensive. So now may be the best times to sell.
Meanwhile, farmers did this at their homes, some without a job and a lot of free time for doing plotting and create farming rigs. Pandemic is slowly finishing with vaccine. Who knows how many "investors" in farming will still exist in a few months once many people no longer work remotely? Coin should be sold by it's designers, now.
@default obviously no one really knows, how many coins the creators might hold or have had available to sell. The 21m prefarmed are sitting duck as they are supposed to be put to different use.
Also the price will only hold as far there is real demand. I doubt that would be more than a few thousand coins. so it would droo close to nil in minutes, if whomever tries to put in lots of coins supposed to be worth millions.
chia farming expained and tested by der8auer
Well, Bitcoin is by design not infinite, there is a hard limit on the amount of Bitcoin that can ever be produced. Unlike USD and many other currencies.
And the hike in value is measured in USD, so one could argue that it's all relative. Did Bitcoin increase in value or did USD decrease in value compared to Bitcoin? Which one of the currencies are closest to its "true" value? What makes a $1 worth $1 other than the fact that people just agree that it is?
People talk about "real" currencies like they are the universal means of measuring value and always has been, but they forget that people were just as sceptical to assigning value to a piece of paper when these "real" currencies were introduced hundred of years ago, as a lot of people are to assigning value to a bunch of ones and zeroes today.
Some of these guys really do not understand what makes money money, and what makes currency a currency, how they relate, and what is FIAT.
USD for example is not money but bitcoin is. USD is currency, but Bitcoin can be used as a currency as well.
USD has no other value than make-believe, zero nil. You could argue that the paper it's printed on is worth something tho. Same goes for EUR, JPY, AUD, GBP etc. They are all FIAT currencencies. They are not real money, none of them.
@default clearly wants to swoop in some sweet sweet chia for cheap
There is no trade volume. Too many sellers so nothing moves and the price is stagnated. Only 2 small exchanges handle it pretty much. Even if you list CHIA on sale in exchange, its in PENDING state for days or weeks depending on your luck.
this.
while there might be many sellers, they are not willing to sell below 1k. your coins won't be pending, you just need to lower the asking price.
there is demand for up to 2.4k Chias in OKEx right now, if your willing to sell in the range down to $800 - however that's roughly just 2 million...
The same thing can be said about Bitcoin or other crypto. What am I missing?
Bitcoin is not FIAT ...
Its a great time to buy refurb SAS drives
Bitcoin is a waste of electricity.
Crypto is estimated to consume the total amount of electricity of Argentina per year (continue to grow). Certainly does not help the situation of the melting North Pole.
I heard most bitcoin mining electricity comes from renewables though, although I certainly agree that it uses way too much electricity and will continue to use more.
So we use all that nuclear electricity, to mine for an encrypted virtual coin, which only has potential value in our heads.
I can't stop wondering how will future generations think of us in 1000 years, or even in 100 years.
Something something chop trees and make plastic just to make papers which only has potential currency in our heads
On the other hand, I sincerely hope that all future generations will think of the current generation as idiots.
For Bitcoin and for POW consencus, electricity consumption is the consequence of not having a 3rd party in the middle (Government, bank etc...)
It is all about pros & cons
In many many cases yes, and the waste heat can also be used for heating buildings etc.
In iceland for example the bitcoin farms uses energy which would have been released as heat regardless whether it is used as electricity or not. That's why Iceland has so many aluminium smelters too.
In both above cases the net energy consumption can actually be near 0%.
The electricity use argument is a bit moot, it's just easy to see it uses energy; It's very hard to see the total energy consumption of banking system on the other hand. It's enormous, and the energy consumption of bitcoin is nothing in comparison. It's also much easier to make more electricity than more human lives with education. How much energy and resources does it consume to raise 1 human from birth to their twenties and provide education, so they can be working on the insecure and inefficient banking sector? Well you need millions of them.
Regardless, there's plenty of energy to go around, and that's actually what provides the security.
This.
POW Consensus ensures no one can continually rob you every single day.
Unlike FIAT currencies; Which all have failed to date, typically to powers just printing more currency. Printing more currency means ROBBING people; Nothing else. It's thievery. Currently world's largest theft is taking place, in the name of stimulus.
Once we enter space age, everything will change. No environment to worry about. Can just dump waste into a hot planet.
But there will be no place for extroverts. They will have to be content with living on planets with gravity unless they are fine with isolated life styles.
It is backed by their govt's military and the trust of the citizen that vote every 4/5 years.
There is no way any cryptocurrency can flourish without their govt's tacit/formal approval. In the end you pay your taxes with fiat even if your bakery and laundry shop accept crypto.
Crypto may work in countries like syria when you are planning to get the hell out assuming someone will give you fiat for it.
Yes military power backs it for the government, not for the people. Govt can print their whole population into poverty at a whim. Latest example Venezuela.
The citizens don't have much choice, Govts are natural monopolies. You cannot live at an area and choose different govt.
Actually you can pay your taxes in crypto, at least Florida is implementing accepting crypto directly.
Also you can just sell that crypto for your local FIAT monopoly tokens to pay your taxes, aka bribes that they don't throw you into prison. I wonder what it was called again when you are forced to give someone your possessions under the threat of violence, i cannot quite remember it now, but i am sure there is a name for that.
>
Yeah. Thats a perfect plan from Florida. Pay your bills in crypto, crypto goes into a nose dive and then the gov needs to print more money to bail out Florida.
Crypto is way too volatile for something like that currently hence it actually is stupid from Florida. Then again they haven't been the smartest to begin with.