121–130 of 175 posts
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
I don’t get it - it’s promoted as environmentally friendly, but it doesn’t seem that 1EB is being used for any actual useful storage purpose. It’s locked up as part of the running of the Chia system isn’t it?
It just seems so monumentally wasteful. At least with the liked of Filecoin the disks can be used for actual storage.
Does this Proof of Space approach have any real benefits over PoS (Proof of Stake)?
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>Because 1EB is a minuscule amount of the hard drive capacity Very much agree here. I purchased about 144TB of raw storage a few weeks ago for future video and data projects, and it's possible to purchase 1PB of raw capacity (with no redundancy, nor anything to connect to) for as cheap as around $13000 USD at retail pricing. 1EB could be acquired for somewhere between $12-$15M. Not chump change, but considering the n…
The difference in consumer storage prices today compared to a few weeks ago is pretty substantial, and that’s when you can find it in stock at all. HDDs have been hit much harder than SSDs, but I’m guessing you didn’t buy 144 TB of SSDs.
High-speed DDR4 ECC memory (DDR-3200 in particular) can also be tough to come by. A fair number of VARs actually limit quantity (usually to 20 modules per SKU), since it's so tough to get. Again, not due to crypto mining, but because of hyperscalers.
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What's even the point of "decentralized and anonymous file hosting"? There's a bajilion serious hosting providers that have proven their mettle. And when chips come down to it, crypto never is anonymous.
The ultimate dream was being able to hook up a few spare hard drives and then earning enough tokens to host your backups for free. The problem is defending against malicious actors makes everything too complex.
And there is much to be gained.
Any type of centralized service provider is a SPOF. Some companies have vastly better customer service track records than others, but their internal operations are fundamentally non-transparent, and driven by a particular implementation of the profit motive.
Interacting with a centralized service provider requires you to expose yourself to poorly quantifiable risks - hacking, internal abuse, government interventions, datacenter fires - and in ways not strictly required by the task of data storage - such as a breach leaving your data untouched but stealing your CC number or other credentials.
A better candidate for "the ultimate dream" would be cryptoprotocol-based participatory networks becoming more flexible, more efficient, more resilient, and more accessible than traditional institutions. That's still far away, it seems - and Goliath won't give up without a fight anyway.
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The idea that enterprises have tons of "over-provisioned" storage is hilariously cute. Do the Chia guys really think engineers at FAANGs haven't found ways of using that storage for something useful? :-) Storage workloads aren't uniform. Some need to have localized, reliable, consistently performing persistent storage with room to absorb sudden demand spikes (like customer data on cloud clusters). Others can be store…
Not all enterprises are FAANGs and the immense majority operates at a tiny fraction of that scale. While I don’t think too many businesses will buy this idea of using spare storage for “cryptofarming”, unused resources are pretty common. The price of a cryptocurrency will tend to roughly follow the cost of generating it. In storage, it’s safe to assume the cost will only go down for the same amount of space. And disk…
So in the end this is going to be just like every other cryptocurrency: people largely deploying exclusive mining (sorry, "farming") capacity and consuming resources doing so.
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How about a RAM disk?
Sure but you need about 300GB RAM for the temporary files needed while creating plots.
Has anyone tried this? Would be interesting to see the benefits.
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Sure but you need about 300GB RAM for the temporary files needed while creating plots.
Thinking about it, for someone who is looking to be seriously into chia, that might make sense. The cost of the RAM is only about $1,500. Might be a smart idea. Has anyone tried this? Would be interesting to see the benefits.
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Thinking about it, for someone who is looking to be seriously into chia, that might make sense. The cost of the RAM is only about $1,500. Might be a smart idea. Has anyone tried this? Would be interesting to see the benefits.
Wouldn't the ram be idling most of the time while farming? Only storage space matters for farming, speed doesn't.
Somewhere over that couple days I read that you can farm on an HD, but plotting is faster on an SSD, so I'm making a huge presumption that plotting on a ramdisk would be even faster, without the wear on an SSD.
I'm still not clear on Chia. Sometimes I think I understand it, and other times I'm not so sure...