Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Chia surpasses 1 exabyte of hard drive space

chiaexplorer.com

Post reply on HN
Print view View original

81–90 of 175 posts

Re: Chia surpasses 1 exabyte of hard drive space

#81

Post by selfhoster11 »

gruez wrote: post #19
magila wrote: post #15

Earlier quoted context omitted.

The key difference is that there is a lot of overprovisioned storage out there currently sitting idle which could be used to farm Chia with only a marginal increase in energy usage. The theory is that as this overprovisioned storage comes online it will make stockpiling storage explicitly for farming unprofitable.

>The key difference is that there is a lot of overprovisioned storage out there currently sitting idle From where? Individuals or enterprises? With the direction we're headed (SSDs and cloud storage), it's hard to imagine many people with a few terabytes of hard drive space. On the other hand you can get around cheap hard drives at around $15/TB if you buy external, then shuck them so you can put it in a backpane or…

It's becoming more and more popular for hobbyists to have at least double-digits of TB of storage sitting around for various purposes. I'd gladly make some profit out of the part of my array that's not filled up yet.

Re: Chia surpasses 1 exabyte of hard drive space

#82

Post by puranjay »

rektide wrote: post #22

I hate this crypto thing too. more spiking people's belief to milk frivolous unfounded overconsumption. hard drive prices have doubled & that's if you can find stock. all for some new unproven technoreligion that promises riches. that is frankly equally as inscrutable & impersonal as all the other concensensus driven scarcizitation ponzi schemes. computing is far too good to be wasted on concensensus, on the limited.…

The idea of a decentralized ledger coupled with smart contracts is too powerful to be called a ponzi.

Ponzis can be built on top of it, just as the internet can be used to sell penis pills and get rich quick scams. But just as those don’t make the internet a sham, crappy coins and get rich quick schemes don’t make decentralized ledgers a scam.

Re: Chia surpasses 1 exabyte of hard drive space

#83

Post by jokethrowaway »

puranjay wrote: post #82
rektide wrote: post #22

I hate this crypto thing too. more spiking people's belief to milk frivolous unfounded overconsumption. hard drive prices have doubled & that's if you can find stock. all for some new unproven technoreligion that promises riches. that is frankly equally as inscrutable & impersonal as all the other concensensus driven scarcizitation ponzi schemes. computing is far too good to be wasted on concensensus, on the limited.…

The idea of a decentralized ledger coupled with smart contracts is too powerful to be called a ponzi. Ponzis can be built on top of it, just as the internet can be used to sell penis pills and get rich quick scams. But just as those don’t make the internet a sham, crappy coins and get rich quick schemes don’t make decentralized ledgers a scam.

A decentralised ledger with smart contract is just tech.

It's not that impressive and it's not a ponzi scheme.

Any currency which is not backed by real resources is a scam. Including fiat in the last decade - albeit fiat is a scam backed by state actors with armies, making it a bit more trustworthy

Re: Chia surpasses 1 exabyte of hard drive space

#85

Post by ddtaylor »

tnzm wrote: post #73

Here I am thinking there's finally a working file storage coin for truly decentralized and anonymous file hosting and no... it's another proof-of-waste thing.

Sia kinda works. I have a few GBs of data on the network and it only costs me about $1/yr

Re: Chia surpasses 1 exabyte of hard drive space

#86

Post by Glench »

Talinx wrote: post #66
snovv_crash wrote: post #55

Earlier quoted context omitted.

You earn the coin continuously for proving that you still have the disk full of random data. It isn't a once-off thing.

Why doesn't that mean that coins can only be transferred through the sneakernet? If you get coins from someone else do you have to trust them to have the plot still around?

That wouldn't make for a very useful global ledger :)

Once a farmer wins a block it's theirs, the same way it works with bitcoin. The reward is tied to a public key, not the original storage. Just like in bitcoin once a miner wins a block they don't need to continuously prove that they have x amount of hashing power in the future.

You can learn more about the details of the blockchain and algorithm here: https://www.chia.net/greenpaper/

Re: Chia surpasses 1 exabyte of hard drive space

#87

Post by puranjay »

jokethrowaway wrote: post #83
puranjay wrote: post #82

Earlier quoted context omitted.

The idea of a decentralized ledger coupled with smart contracts is too powerful to be called a ponzi. Ponzis can be built on top of it, just as the internet can be used to sell penis pills and get rich quick scams. But just as those don’t make the internet a sham, crappy coins and get rich quick schemes don’t make decentralized ledgers a scam.

A decentralised ledger with smart contract is just tech. It's not that impressive and it's not a ponzi scheme. Any currency which is not backed by real resources is a scam. Including fiat in the last decade - albeit fiat is a scam backed by state actors with armies, making it a bit more trustworthy

State actors with armies haven’t exactly helped a lot of fiat survive. Ask a Venezuelan if he would rather have BTC vs his native fiat.

Re: Chia surpasses 1 exabyte of hard drive space

#88

Post by londons_explore »

zozbot234 wrote: post #79
londons_explore wrote: post #75

Earlier quoted context omitted.

My reading of the wiki suggests that the time for your disk to read the data really does matter. Chia blocks are every ~20 seconds. Within those 20 seconds, you need to read 7 + 64 different areas of the disk. Some read addresses depend on the last, so in reality you need to do 7 sequential reads, all within the block time to get any reward. So basically, if your storage medium takes over ~1 second to read data, you'…

Do the 7 initial reads access separate data from the remaining 64, or is the whole "plot" fair game for even those initial reads? ETA: from looking at the docs, it seems that the 7 initial reads do access separate "tables". It should be possible to optimize by storing these on lower-latency storage, and even optimize further via parallel farming of many "plots", of which only a few at any given time will ever need to…

The initial 7 reads simply save you from doing the last 64 incase there is no chance of winning.

Put those 7 on fast media and you'll very quickly know "I might have won". But without the results from the rest of the 64 reads in a couple of seconds, you won't actually win.

Re: Chia surpasses 1 exabyte of hard drive space

#89

Post by ohgodplsno »

stickac wrote: post #60
vmception wrote: post #44

Earlier quoted context omitted.

Literally every issued asset in history has a "premine", but somehow last decade's crypto aficionados find this controversial. It's so strange to even care and the market obviously does not care because there is like half a millenium of it never caring. It's nice to see the crypto market maturing and ignoring these people so segregated from every other financial market because they never traded anything else. Low flo…

Bitcoin did not have a premine

Right, it just had Satoshi and friends as basically the only members on the network and mined millions of coins when difficulty was basically non existent.

Re: Chia surpasses 1 exabyte of hard drive space

#90

Post by Glench »

Right now the focus is on network growth and farming, but I think long-term the smart contracts capability of Chia will be most interesting:

https://chialisp.com

Basically the authors saw how much Ethereum/Solidity contracts are hacked because of unintended stateful side effects and decided to make a purely functional LISP-based language where there are none.

Post reply on HN