Chia coin sell for

Buyers are warned about this rampant issue. The price of Chia Coin met an untimely drop recently. This has pushed cryptocurrency miners to sell their second-hand SSDs at absurd prices. While many bundles are available in the market at the moment, the users could prefer going to a direct seller to avoid the huge cost. It turns out that Chia crypto miners are exploiting the sudden plunge of the cryptocurrency.

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WATCH RELATED VIDEO: Chia Mining: Make Money Buying and Selling Chia Coin Plots

How to mine Chia (XCH): Easily farm crypto with your storage drives

By Matthew Sparkes. Chia miners are buying up hard discs. Bitcoin requires so-called miners to do vast amounts of useless calculations to maintain the network, a system that is known as proof of work. The most recent studies show that bitcoin may currently consume 0. Chia instead uses a proof-of-space approach that ditches these calculations and relies on empty hard disc space.

The more space a miner devotes to the task, the higher their probability of receiving new coins. In theory, this would consume less energy, but there has been a surge in demand for hard discs since the currency launched earlier this year. Around 12 million terabytes of hard disc space is currently being used to mine Chia, having risen on an exponential curve since its launch in March.

When New Scientist first reported on Chia just two weeks ago , that figure was only at 3 million terabytes. These discs still require energy to produce and run, and there are reports that the constant reading and writing involved in mining can wear them out in weeks , rendering them useless. Hoffman says this problem only affects the cheapest discs. The resulting increase in demand has caused significant price rises for hard discs , especially higher-end models.

Hoffman says he is surprised at the speed at which the hard disc capacity devoted to Chia has grown and admits that this is likely to cause disruptions to the supply chain for some time. In the long term, he thinks the increased demand being driven by Chia will lower the cost of hard discs as manufacturers ramp up production. Hoffman says that if all hard discs sold in a year — which could hold data totalling roughly 1 zettabyte , or 1 billion terabytes — were used exclusively for mining Chia, it would still use less than 1 per cent of the energy currently used by bitcoin.

However, the exact energy consumption of the Chia network is currently unknown, as the cryptocurrency is too new for researchers to have produced reliable estimates.

But he does concede that the growth of Chia will require significant resources. He suggests that issues with bitcoin began when specialised hardware was developed that could mine coins faster than standard computers.

This kick-started an arms race that has led to its vast energy use, he says, but he insists that Chia is impervious to such a development. Aggelos Kiayias at the University of Edinburgh, UK, says it is vital to analyse new cryptocurrency technologies to see if the resources they require, such as vast numbers of hard discs, justify the benefit.

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How to buy Chia (XCH)

When BitTorrent sold to the founder of controversial crypto startup Tron, it wasn't just one of web 2. It turns out, the peer-to-peer sharing company now owned by Tron founder Justin Sun also took a small stake in Chia Network, a soon-to-be-launched cryptocurrency protocol helmed by BitTorrent co-founder Bram Cohen, a fact that was not been previously disclosed by either firm. As for what IP might have changed hands, and that might be helping to power the Chia network, both companies are now staying silent on the matter. Sources with knowledge of the deal said the two companies further entered into an agreement of "mutual releases and non-disparagement," so that neither party would bring suit against the other due to events that happened prior to the investment. All in all, it's the latest information on Sun's surprise acquisition of BitTorrent, first reported by Variety in June, and which subsequently prompted no shortage of dialogue and confusion in the industry. According to the merger documents, Cohen still owned 31 percent of BitTorrent's common stock at the time of the acquisition.

Chia (XCH) Forecast Report for the The live Chia price today is $ with a total trading volume of $14,, Chia is down,% in the.

Why Chia Coin miners are selling their used storage options?

Bottom line: Chia mining can lessen the lifespan of solid-state drives SSDs by writing more than GB in temporary data per plot. Buyers looking for deals on used hardware should be careful and ask the right questions when purchasing these used Chia plotting drives; otherwise, they could end up paying for a heavily used item with a severely reduced lifespan. Chia , the recently introduced "green" blockchain aimed at reducing energy usage and credited with a drastic increase in storage costs, is once again making storage headlines for the wrong reasons. Following a continued drop in value, the coin's miners have begun leaving the network and liquidating their hardware assets to recoup costs. Buyers of these used Chia plotting drives should be extra cautious, as they may not get what they're paying for based on how Chia utilizes the flash storage of SSDs and NVMEs. Unlike traditional proof-of-work consensus mechanisms, Chia instead relies upon a less intensive proof-of-space consensus mechanism to verify and validate transactions on the Chia blockchain. A fully prepared Chia farm uses less energy and resources than those farms mining currencies such as Ethereum and Bitcoin; however, the path to get there is not without some expenditure of energy and hardware resources. A Chia farm consists of two major activities: farming, which is the act of making prepared plots available on slower storage volumes to verify transactions on the Chia network; and plotting, which leverages computing and storage resources to prepare the data sets used for proof-of-space consensus on the Chia network.

ChiaNetwork USD (XCH-USD)

chia coin sell for

Chia Network — founded by peer-to-peer file sharing protocol BitTorrent creator Bram Cohen — launched its new eco-friendly blockchain and native cryptocurrency chia XCH today. The Chia blockchain aims to be a more decentralized, energy efficient and secure platform by tapping on unused hard drive space on regular computers. Unlike the predominant proof-of-work consensus algorithm behind Bitcoin and proof-of-stake blockchains like Ethereum 2. The white paper points out that bitcoin mining , which involves solving complex equations, has become increasingly centralized with specialized mining hardware owned and operated by a few large entities in purpose-built large data centers located near areas with cheap electricity.

If you happen to stumble upon an SSD or HDD listed well below its price point on an online market place, then it's wise to double-check as Chia miners are offloading their hardware mainly HDD and SSDs at a loss as the coin continues to plummet in terms of its value. As reported by VNExpress International , Crypto miners who had invested in Chia Coin have started to sell their hardware at losses and switch over to other crypto opportunities as the value of XCH or Chia Coin continues to fall.

Home-mining Crypto Chia Sparks Hard Drive Shortage Ahead of Trading Debut

Chia is an eco-friendly alternative to major cryptocurrencies like Bitcoin and Ethereum. Traditional coins have faced an environmental backlash for the amount of energy required for mining, but the Chia network takes a more sustainable approach. We also explain how to start trading Chia, from the best exchanges to farming strategies. You can trade and buy Chia at OKEx. We are currently reviewing additional brokers that offer Chia trading and will soon list the top ones below. Chia is still a very new coin and is not offered by most crypto exchanges yet.

Chia Network Markets

Chia is one of the latest entrants in the world of cryptocurrencies with the promise of being a clean, green digital token. It has barely been weeks since its announcement, but it is already creating waves among geeks and cryptocurrency enthusiasts alike. So what is Chia coin, and how does it promise to upend the current crypto market? And how do you farm Chia coin XCH anyway? In this article, we will tell you everything about the all-new Chia cryptocurrency and Chia blockchain software. We will also explain how you can farm Chia coin XCH on your Windows 10 PC and what you need to know before you get down to making your own Chia plotting rig.

A fully prepared Chia farm uses less energy and resources than those farms mining currencies such as Ethereum and Bitcoin; however.

This crypto claims to solve bitcoin's biggest problem

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Chia coin: should you buy the crypto or invest in the IPO?

RELATED VIDEO: How to Buy / Sell Chia XCH - Now Live On Exchanges

Chia Coin investors began to liquidate the hard drives, used to mine this digital currency, since the fall in their price forced them to accept losses and opt for other financial instruments, reported the Vnexpress portal. Hoang Tuan, owner of a computer store in Ho Chi Minh City, Vietnam, said that selling second-hand hard drives is more difficult than graphics cards because mining in Chia causes a devastating impact in these pieces. It was invented by Bram Cohen, creator of the BitTorrent protocol. According to Cohen, PoST consumes less electricity than its rival, by using storage disk space as a transaction validator. As Chia mining requires a large amount of hard disk space, in April this year, due to the rapid growth in popularity of the digital currency, Occurred a shortage of these units in Hong Kong. However, in May it was revealed that China, positioned as a green alternative to the most popular digital currencies, can end the life of storage drives much earlier than expected and destroy a solid state drive SSD of conventional use in a matter of weeks.

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What Is Chia Coin and How to Farm It on Windows?

Never mind the GPUs used for process-intensive mining of Bitcoin, new cryptocoin Chia is driving up hard disk drive prices by its own processing needs, which are based on storage capacity. Chiacoin was launched this month. It is a bitcoin-like currency, and it needs so-called proof-of-space-time to be mined, or rather farmed, using hard disk drives and SSDs. It was devised by Bram Cohen, the American programmer who came up with the BitTorrent peer-to-peer network protocol. Chia Network is the company backing Chiacoin. Bitcoins are mined using a so-called proof-of-work which involves vast numbers of CPU cycles and hence electricity.

By Matthew Sparkes. Chia miners are buying up hard discs. Bitcoin requires so-called miners to do vast amounts of useless calculations to maintain the network, a system that is known as proof of work. The most recent studies show that bitcoin may currently consume 0.

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