What is Chia cryptocurrency and why is it bad news for hard drives?

Post by optimalsolver » Sun, May 02, 2021, 1:00 PM UTC

throwaway4good wrote: post #139

cwyers wrote: post #94

I just... do not understand how smart, even _brilliant_ people, the sort of people who know enough to make something like this, can look at Bitcoin... the waste, the way it has utterly failed to achieve what it set out to do[1], everything, and thinks, I know, I want to do that, but instead of blowing up the market for GPUs it'll be SSDs. Why? To get rich? It even seems doubtful to me that the people who developed Ch…

The main thing about money, Bud, is that it makes you do things you don't want to do.

Post by RealityVoid » Sun, May 02, 2021, 1:17 PM UTC

progval wrote: post #198

RealityVoid wrote: post #78

Earlier quoted context omitted.

I am... Suspicious of all the chia articles popping up on HN. I have not seen the same kind of buzz happening in other crypto spaces about it. And I am also suspicious about the claims that chia is the one that is such a threat to data storage supply, considering there are other crypto currencies with a similar approach. Overall, I am inclined to say that this is a submarine and HN is falling for it. Regardless, more…

> Chia just incentives other people to store data for people who want to store data. I think you are confusing Chia with Sia

Post by oblio » Sun, May 02, 2021, 1:58 PM UTC

xur17 wrote: post #202

faeyanpiraat wrote: post #140

Earlier quoted context omitted.

I don’t think that is a valid defense. Bitcoin started the whole crypto craze, and etherereum wouldn’t exist without bitcoin. And the eth (and who knows how many other coin) crowd certainly does still mine on gpus.

> And the eth (and who knows how many other coin) crowd certainly does still mine on gpus. And is actively on the path to proof of stake.

Post by o-__-o » Sun, May 02, 2021, 2:27 PM UTC

amelius wrote: post #212

philjohn wrote: post #209

Earlier quoted context omitted.

Can you? It seems the adtech makes a lot of money, but also gives businesses, especially small businesses, far greater reach than they could achieve 20-30 years ago. Seems like an apples to oranges comparison IMHO.

If these people actually cared then I'm sure the same effect could be achieved without the shitshow that is advertising today. Also, ads likely cause overconsumption and thus impact the climate. And the big companies (some of them in adtech) gobble up all the wealth so small businesses are not necessarily in a better position.

Post by matkoniecz » Sun, May 02, 2021, 3:12 PM UTC

Kiro wrote: post #146

matkoniecz wrote: post #130

Earlier quoted context omitted.

> Cryptocurrencies feel like something straight out of a cyberpunk novel. And that is exactly why I dislike it. At least among ones that I encountered cyberpunk is strongly dystopian. > I don't understand how a forum called Hacker News is so dismissive of an invention that should be right up a hacker's alley I hope that Chia dies and falls on its face before SSD and HDD will repeat story of GPU. I like to use this re…

> At least among ones that I encountered cyberpunk is strongly dystopian. Back in the day when we were sitting in dark basements with big Unix beards drinking Jolt cola, we all dreamed of living in a crypto-anarchy, becoming cyborgs with chip implants and fully submerge in the Metaverse. I guess times have changed.