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HDDs and SSDs can become extinct due to crypto scam
  • With the advent of the Chia cryptocurrency, miners in China are frantically buying up all available hard drives and SSDs. Unlike other cryptocurrencies, Chia is not mined with a processor, video card, or specialized ASIC chip. Instead, Chia processing requires storage space and therefore miners are buying up HDDs and SSDs.

    Unlike Bitcoin, which is based on proof of work, Chia uses a proof of space and time model. Chia is reportedly being promoted as an environmentally friendly cryptocurrency. Bram Cohen, famous for the BitTorrent protocol, created Chia to take advantage of free space on storage devices. Hard drives and solid state drives use less power, are easier to get and cheaper to buy. For comparison, mining Ethereum or Bitcoin requires significant energy costs.

    Jiahe Jinwei, one of the largest Chinese memory manufacturers, told MyDrivers that the 1TB and 2TB high-performance Gloway and Asgard NVMe M.2 SSDs have already been sold out. The manufacturer plans to impose restrictions to prevent miners from buying massive amounts of consumer SSDs.

    Chia is not yet officially available for trading, so it's too early to start stocking up on hard drives or SSDs.

    Also note the personalities, as firm who made Bittorrent is associated with CIA and other US agencies. Aty the time this protocol had been used to suppress very dangerous trend of fast evolving P2P protocols and software, as contrary to torrents they are much harder to find, track and block.

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  • Chia Network, a blockchain platform from BitTorrent creator Bram Cohen, has skyrocketed in value after raising $ 61 million from investors including Richmond Global Ventures and Andreessen Horowitz.

    It is totally system investors, no criminals or such.

    The Chia cryptocurrency, despite its short stay on the market, already occupies more than 10 exabytes (10 million terabytes) on a global scale on user drives. This is 4 exabytes more than a week ago, and five times more than in early May, at the time of the start of trading in this cryptocurrency. This rise is evidence of the rapid growth in popularity of Chia and the fact that people trust cryptocurrency. It is worth noting that both hard drives and high-performance solid-state drives are used for Chia mining.

    And consequences are worse than made by drug cartels.

  • Bram Cohen agreed that lack HDDs is caused by his crypto scam currency and it was such "by design". This means that it was planned.

    Some drives have a lifespan of several weeks in Chia mining mode. However, the head of Chia Network says that only the cheapest drives are susceptible to rapid failure.

    Chia is specially designed to kill SMR drives very fast. It had been carefully implemented in its algorithms.

    Accidentally, industry transferred to SMR exactly in 2020 for most consumer drives.

  • One of the organizers made come out

    The high level of popularity of the recently launched Chia cryptocurrency has led to an increase in demand for large-volume hard drives and a rise in prices for such drives. Cloud backup and storage service provider Backblaze announced that Chia miners will be able to use its platform for $5 per month for 1TB of space.

    Backblaze is big HDDs buyer who gets them using special prices and direct contracts.