Cryptocurrency mining hard drive
On a Facebook group of over 5, Chia traders, admin Hoang Trung has seen a large number of posts recently advertising hard drives for sale. Thuan joined the market in May when Chia prices were shooting up. As Chia mining requires a large amount of hard disk storage space rather than the processing power of graphic cards like other coins, prices of a hard disk drive with 6 terabytes of storage at the time rose 60 percent to VND6. I might have to bring the price down to VND2 million so I can switch to mining another coin. Hoang Tuan, owner of a computer store in Ho Chi Minh City, said selling hard drives is more difficult than graphic cards because Chia mining causes a devastating impact on these drives. A one-terabyte solid-state drive lasts around 80 days while with normal usage it could last 10 years, he added.
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- What is Chia? The ‘green’ bitcoin alternative accused of eating up hard drives
- BitTorrent Creator's 'Green' Cryptocurrency Accused of Burning Through SSDs
- Chia, Bitcoin's 'Green' Rival, is Said to Be Causing Hard Drive Shortages in Asian Markets
- Best SSD for cryptocurrency mining: the best solid state drives for mining Bitcoin and more
- Mining Chia cryptocurrency on SSD and HDD
- Man seeks to excavate landfill that allegedly has half a billion dollars worth of bitcoin
What is Chia? The ‘green’ bitcoin alternative accused of eating up hard drives
Older-gen processors, graphics cards have always sold at a discount compared to their launch or purchase price. That distortion is not just because of supply issues, which is almost steady since four years now. Times Internet Limited. All rights reserved. For reprint rights. Times Syndication Service. Madana Prathap. Cryptocurrency miners need powerful computers — edging other users including professionals and gamers out of the market.
The low supply and high demand for semiconductors and computing hardware will prolong the current situation for at least another year. The silver lining is that mining is being prohibited in some regions, and the largest cryptocurrencies are looking to move away from mining. Cryptocurrencies are based on blockchains. In turn, blockchains need miners to verify transactions and maintain their integrity. As a result, cryptocurrency mining has become infamous for expending a lot of coal-generated power on virtual money 91 TeraWatts last year , pushing up PC gaming hardware prices, and making a chip shortage worse during a year when the world was already battling a pandemic.
Some believe that mining has grown so big over the past decade that it has become a nightmare for PC enthusiasts. A small farm of 18 specialised ASIC machines mining for cryptocurrency. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox. Email address. Next Story Asset Management: What to know about this fast-growing industry that could increase your wealth. Popular on BI. Latest Stories. Trending News.
Buying Guides. Asset Management: What to know about this fast-growing industry that could increase your wealth. How consumers, businesses, and the government can make pensions greener to fight climate change. Michael Saylor's MicroStrategy has , bitcoin in its coffers - and it plans to keep adding more.
BitTorrent Creator's 'Green' Cryptocurrency Accused of Burning Through SSDs
Image for representation. Bitcoin mining requires high-end computers to solve complex puzzles to earn coin rewards. Thereby, it uses a ghastly amount of electricity and produces carbon emissions as much as a medium-sized country. Whereas, Chia does not employ the use of numerous computers as in bitcoin, but it uses ample storage on the computer. By design, Chia mining requires extra hard disk space for operation. In order to farm Chia, the software is required to write a plot, which is a large chunk of cryptographic data, to the disk.
Chia, Bitcoin's 'Green' Rival, is Said to Be Causing Hard Drive Shortages in Asian Markets
The previously unknown new cryptocurrency Chia suddenly burst into the information space through all channels, because of which we are all promised the same shortage of SSD and HDD drives as with video cards. The Chia project is led by Bram Cohen, the creator of another cryptocurrency Bittorrent BTT , which has also been widely rumored recently due to the sharp rise in its value on cryptocurrency exchanges. In this article, we will try to figure out what technological innovations this cryptocurrency gives and why all SSDs and HDDs will disappear from sale. Chia cryptocurrency marketing is built on two main pillars - blockchain and the use of green technologies. If everything is clear with the blockchain, then the developers have incorporated the use of data storage devices in green technologies, instead of video cards and ASICs. That is, to maintain the operation of the Chia blockchain in working order, much less electricity is consumed. POST is a hybrid of the two technologies. In the process of plotting or seeding on the SSD, an array of data is formed in which various hash sums are written, then in the process of mining these hashes are read and compared with the condition for finding the next block, and if the hash sum written to the SSD meets these requirements, then it is considered that the block is found and the miner or the farmer in local terminology will receive an award of 5 XCH. The seeding process plotting requires a sufficiently powerful processor and a fast SSD, otherwise this process can take several days.
Best SSD for cryptocurrency mining: the best solid state drives for mining Bitcoin and more
Miner-C, or PhotoMiner , appeared at the start of June , when a report revealed how this malware was targeting FTP servers and spreading on its own to new machines thanks to worm-like features that attempted to brute-force other FTP servers using a list of default credentials. This same functionality is still present in the latest Miner-C version, but security researchers from Sophos say that recent Miner-C iterations are using a design flaw in the Seagate Central NAS devices to place a copy of itself on their public data folders. NAS devices, which are network-connected hard drives, allow users to access files from the local network, but also via the Internet if the administrator chooses to open the NAS drive for remote access. According to Sophos, Seagate Central devices contain a public folder accessible to all users, even anonymous non-logged-in users, which can't be deactivated or deleted. One of the files it copies is called Photo.
Mining Chia cryptocurrency on SSD and HDD
Jason Cipriani has been covering technology news and reviewing the latest gadgets as a freelance journalist for the past 13 years. For the last few years, I've had a group of friends who tried to convince me to start mining Ethereum. I have access to a few gaming computers and the required GPUs to mine to make a passive income. I resisted for as long as I could, only because it seemed like a somewhat intimidating project to tackle. I eventually gave in and have been mining Ethereum off and on for the last six months or so, learning as I go -- both about the different mining pools and the coming changes to Ethereum but also about crypto as a whole. How to build a cryptomining rig: Bitcoin mining
Man seeks to excavate landfill that allegedly has half a billion dollars worth of bitcoin
Chia has been hogging a lot of limelight in the crowded cryptocurrency space lately as a 'green' alternative to Bitcoin. Instead of using a computer's processing power to solve complex puzzles such as for Bitcoin mining, Chia miners require more storage space than processing capacity. But this is leading to a whole new problem: a shortage of storage drives in some Asian markets. As per a recent report , large-capacity hard drives have virtually gone out of stock in Vietnam because Chia miners have gone berserk. People who needed hard drives with 6TB or more space are said to be buying smaller ones and then merging them to do their work done.
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If so, feel free to skip to the next section. Chia is one of the newest cryptocurrencies; it debuted in March of this year. It was founded by Bram Cohen, who also invented BitTorrent, and was designed to be a more energy-efficient crypto. It leverages the power of storage drives to farm crypto, rather than traditional GPU mining used by more mainstream cryptocurrencies like Bitcoin and Ethereum. It has a cap of 21 million total coins, the same amount as Bitcoin. Chia transactions are not yet enabled, so farming is currently the only way to acquire the currency.
The crypto boom led to an inevitable shortage of video cards in some world regions, as enthusiastic miners went on a panic-buying spree. However, today the market is forecasting an acute shortage of HDD and SSD due to a new crypto player — the Chia token, which can be mined using hard drives. And although mining on hard drives is not as popular as mining on video cards or ASICs, it allows to get coins without noise and dust, as well as without the round-the-clock hum of coolers. Today we will tell you how to mine cryptocurrency on HDD and SSD, which models are suitable for mining, how to mine Chia cryptocurrency step by step, and how to calculate the benefits of this process. All miners remember January , when video cards ran out on retail shelves. Then many wondered: what else can you mine on, besides the GPU?
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