Monday, April 19th 2021

Chia - The Cryptocurrency Gunning for Your SSD and HDD Space That Could Bring Another Tech Sector Pricing Up

A new cryptocurrency going by the name of Chia could bring about a boom in demand for HDD and SSD, which have been kept relatively untouched by the latest mining and supply constraints. However, optimistic predictions of falling prices for NAND (optimistic for consumers, that is) could prove to be erroneous. Apparently, the new cryptocurrency, which saw its whitepaper being published in February 9th and has already led to shortages of high-performance SSDs from China's Jiahe Jinwei.

The cryptocurrency was designed to be mined in SSDs and HDDs, looking to cut on electricity cost from proof of Work (PoW) cryptocurrencies such as Bitcoin and (still) Ethereum. The intention is for the cryptocurrency to have as broad an appeal as possible, by excluding the need for prohibitive investments in either ASICs (for Bitcoin) or GPUs (for Ethereum and other Dagger/Hashimoto-based calculations). It also leverages that which is most widely available and oftentimes left empty of any workload - storage space. Due to this, it's been reported that Chinese miners are already buying HDDs (4 TB through to 18 TB) and SSDs (mainly NVMe solutions) in bulk. This could prevent technologists from ushering in the current trend of falling storage pricing - if demand becomes as crazy as it has become in the GPU space.
Chia was designed by BitTorrent creator Bram Cohen, and uses a specific type of consensus and ledger-assurance system that's described as Proofs of Space and Time. The blockchain is farmed via Proof of Space, which is done inside your HDD or SSD via computing through already-in-storage models, and then contacts Chia's servers for Proof of Time - which essentially ensures that a required amount of time has passed between the block's generation and its actual inclusion in the network, to prevent any ill-intentioned farmer from assuming control of the network.

There are several advantages to farming a cryptocurrency such as Chia over the more general proof of work models. HDDs and SSDs take up much lesser space than a rack of GPUs, whilst consuming much less power, generating much less heat and noise, and thus allowing for much higher scalings in farming scenarios (which is what Chia calls its mining, because it's more ecologically sustainable than the usual mining workloads).
Sources: Chia Project Home, via Tom's Hardware
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101 Comments on Chia - The Cryptocurrency Gunning for Your SSD and HDD Space That Could Bring Another Tech Sector Pricing Up

#26
efikkan
zlobby
What's next? Crypto mined on PSU or RAM?
Pen, paper and a D20 dice.
Posted on Reply
#27
Frank_100
I wonder it it would be profitable for the hardware manufactures to buy coin to bid up the price and create demand for their hardware?
Posted on Reply
#28
Tomgang
Frank_100
I wonder it it would be profitable for the hardware manufactures to buy coin to bid up the price and create demand for their hardware?
A good point, but please delete this message. Don't give Intel, nvidia or amd any good ideas. It's all ready bad enough as it is. Just kidding about deleting, but seriously be careful what you ride.

You never know when you give greedy people, scalpers, miners or companies good ideas for there own gain to much suffering for you and us normal gamer or people just using a pc.
Posted on Reply
#29
silentbogo
Now, that's where all the idiotic fuss about SSD shortages came from... Got a dozen messages from my friends and colleagues this morning, reposting useless crap from news outlets. I didn't even bother to read any of them.
Guys, we've had SiaCoin for a long time. Even at its peak it didn't cause any shortages, and at this point became a victim of its own success: it can barely compete with cloud storage, regardless of its many technical advantages only because it became more and more expensive.

The only reason we'll get SSD shortages this/next year, is because our usual suspects Samsung, WD, Kioxia, Hynix and Micron will decide to f#$%k you over once again because [ generic placeholder for power outage || contamination || natural/unnatural disaster || COVID ].
Posted on Reply
#30
spectatorx
Tomgang
Good God, will this crypto nightmare never end. What's next, mining on smartphones or maybe a calculator. How about a cars build in infotainment systems. That has a cpu two.

I am so sick and tired of this crypto bs. I need my gpu but not for 2-3 times the cost and now soon maybe also storage will cost 2 or 3 times the msrp.

Glad I just ordered a few nvme SSD and a pair of 14 tb HDD. That can keep me going for a while.

I wish for crypto to crash and burn. Sink to the bottom of the ocean and be forgotten forever.
It is already possible to mine on smartphones. Someone as proof of concept already tried mining on calculator, i think, but i may be wrong about that.
zlobby
What's next? Crypto mined on PSU or RAM?
Both already are in demand from miners. Every mining rig needs good, power efficient psu. Mining on cpus is a thing and like with any cpu oriented calculations ram impacts performance so for better mining results better ram is welcome.
Posted on Reply
#31
Tomgang
spectatorx
It is already possible to mine on smartphones. Someone as proof of concept already tried mining on calculator, i think, but i may be wrong about that.


Both already are in demand from miners. Every mining rig needs good, power efficient psu. Mining on cpus is a thing and like with any cpu oriented calculations ram impacts performance so for better mining results better ram is welcome.
It was a thing mining on smartphone. It seems there has been a ban on smartphone mining since 2018 at the last mining nightmare.

www.techradar.com/how-to/how-to-mine-cryptocurrencies-on-your-android-smartphone

But trying to do it on a calculator, why am I not surprised. Just showing People's greed will never end. Mine on anything possible. Game consoles has also been used for mining. PS4 was used under the 2017/2018 crypto boom.
Posted on Reply
#34
silentbogo
Tomgang
Game consoles has also been used for mining. PS4 was used under the 2017/2018 crypto boom.
When? What? How? Or is it just a speculation from 2017-2018 clickbaits?
The only thing you could do on a PS4 is mine XMR on CPU or some garbage like Electroneum (you may also know it as "that garbage script-kiddies bunlde with malware to overheat your CPU").
PS4's APU is about as powerful as Carrizo APU inside your run-of-the-mill $150 netbook of that time. Not much compute oomph to mine even one cup of bitter coffee. On PS4 it's not even profitable(electricity costs overrun your puny profit even at optimistic 800H/s XMR). GPU mining was always out of question, because the only thing that kinda works on PS4 is Gallium.
Posted on Reply
#35
Tomgang
Also now we are at the hardware. Mining gpu's are well known. Now we can also say hello to mining storage devices.

wccftech.com/dedicated-cryptocurrency-mining-ssds-in-production-chia-coin-rise/

Excuse me while I go out and p**e over this BS. Crypto is the worst invention ever. It's time for governments to step in and take control over this. It's uncontrolled and cause suffering and desperation among people who just want a gaming gpu or soon new storage. Also companies can't upgrade there servers because you guessed it, gpu and storage is gulped up by either miners or scalpers. I know there is also a ressource shortage, but that is not alone the culprit for this shortage of hardware.
silentbogo
When? What? How? Or is it just a speculation from 2017-2018 clickbaits?
The only thing you could do on a PS4 is mine XMR on CPU or some garbage like Electroneum (you may also know it as "that garbage script-kiddies bunlde with malware to overheat your CPU").
PS4's APU is about as powerful as Carrizo APU inside your run-of-the-mill $150 netbook of that time. Not much compute oomph to mine even one cup of bitter coffee. On PS4 it's not even profitable(electricity costs overrun your puny profit even at optimistic 800H/s XMR). GPU mining was always out of question, because the only thing that kinda works on PS4 is Gallium.
As far I know and have read. It was possible by installing Linux on ps4. Probably a hacked ps4's consoles. I have not read much into it.

I Will not be surprised if ps4 and other consoles will be used two. Specially if crypto keep going strong and gpu is still a problem to get the next coming month.

There is all ways someone trying different ways to earn money.
Posted on Reply
#36
Vanny
Yay. More Cryptocringe.
Posted on Reply
#37
silentbogo
Tomgang
As far I know and have read. It was possible by installing Linux on ps4.
Yes, it is possible, just like mining on a TI-84 calculator. The cake is a lie. You should get into habit of being skeptical of clickbaits.
Posted on Reply
#38
R-T-B
zlobby
What's next? Crypto mined on PSU or RAM?
It already uses PSUs. I mean the PSU is basically the root of everything.
silentbogo
Yes, it is possible, just like mining on a TI-84 calculator. The cake is a lie. You should get into habit of being skeptical of clickbaits.
You can mine with pen and paper. Somehow I do not anticipate a paper shortage, though.
Tomgang
It was a thing mining on smartphone. It seems there has been a ban on smartphone mining since 2018 at the last mining nightmare.
That was never profitable. That's why it died, not a "ban."
Posted on Reply
#39
silentbogo
R-T-B
You can mine with pen and paper. Somehow I do not anticipate a paper shortage, though.
That's exactly what I'm talking about.
BTW, just checked how SIA is doing - no change since last year. $13/TB/mo and ridiculous bandwidth fees. Chia isn't even listed anywhere and doesn't have an developed infrastructure to bring any kind of meaningful impact. Really doubt there's gonna be a reason for anyone to become a doomsday-prepper with shelves full of HDDs and SSDs.
Posted on Reply
#40
R-T-B
silentbogo
That's exactly what I'm talking about.
BTW, just checked how SIA is doing - no change since last year. $13/TB/mo and ridiculous bandwidth fees. Chia isn't even listed anywhere and doesn't have an developed infrastructure to bring any kind of meaningful impact. Really doubt there's gonna be a reason for anyone to become a doomsday-prepper with shelves full of HDDs and SSDs.
Yep clickbait article is clickbait, sorry guys.
Posted on Reply
#41
shilka
Dont care if Chia is real and useful or not i needed an excuse for a second 18 TB hard drive and this was the perfect excuse
Posted on Reply
#42
dragontamer5788
zlobby
What's next? Crypto mined on PSU or RAM?
RAM is what caused the GPU-shortage.

A lot of alt-coins are designed to be RAM hard, and HBM2 and GDDR6x are the best RAM for those kinds of problems. Sure, there's a GPU attached, but you're just using the GPU-portion as a RAM interface (cheapest way to get lots of HBM2 or GDDR6x)
Posted on Reply
#43
evernessince
I was wondering why the price of 16 and 18TB HDDs shot up. One day 18TB drives were $380 to $400 and now they are $500 - $600.
Posted on Reply
#44
mechtech
If aliens see/seen the stuff humans did/do we would be the laughingstock of the galaxy.
Posted on Reply
#45
Why_Me
evernessince
I was wondering why the price of 16 and 18TB HDDs shot up. One day 18TB drives were $380 to $400 and now they are $500 - $600.
RAM just shot up $20 today for a 16GB kit here in the US.
Posted on Reply
#46
zlobby
dragontamer5788
RAM is what caused the GPU-shortage.

A lot of alt-coins are designed to be RAM hard, and HBM2 and GDDR6x are the best RAM for those kinds of problems. Sure, there's a GPU attached, but you're just using the GPU-portion as a RAM interface (cheapest way to get lots of HBM2 or GDDR6x)
Agreed. But I was referring to general RAM, not vRAM.
R-T-B
It already uses PSUs. I mean the PSU is basically the root of everything.


You can mine with pen and paper. Somehow I do not anticipate a paper shortage, though.


That was never profitable. That's why it died, not a "ban."
It was more of a sarcasm. Naturally everything needs a PSU. I was thinking of a method to use the PSU to mine crypto on the power meter. :D
efikkan
Pen, paper and a D20 dice.
Dungeoncoin?
Posted on Reply
#47
DuxCro
Hooraaaay! Can we please get some crypto that is mined on RAM? Also mined only on CPU's? What else can we F up? Sound cards? I can't afford to be a PC gamer any more.
Posted on Reply
#48
dragontamer5788
zlobby
Agreed. But I was referring to general RAM, not vRAM.
Its really hard for me to imagine a cryptocoin algorithm that'd be better on DDR4 than GDDR6x or HBM2e.
Posted on Reply
#49
Tomgang
How about we just mine on everything with some sort of ram, cpu or gpu in it. Let's begin mining on smart watches, smart TV and so on as well. Soon every electronic device will be double or triple the msrp. Happy mining and scalping. while pc user and gamers are knocked back to the stone age.

What nice future we are going to...
Posted on Reply
#50
R-T-B
DuxCro
Can we please get some crypto that is mined on RAM? Also mined only on CPU's?
Been around for a bit.
Tomgang
What nice future we are going to...
lol all the above has happened for years and the world still hasn't cared enough to mine seriously on anything but gpus and asics. Something about actually making money...
Posted on Reply
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