#Chia is already making HDD prices go up.
https://www.chiaexplorer.com/
Cryptocurrencies are cancer that's eating upbresources - all for a few people to get rich.
The HDD prices are highest they've been in the past half a year. This is not the pandemic, this is crypto. First GPUs, now HDDs.
People are buying petabytes of storage to hold useless noise in order to get Chia.
Which in 100+ days will yield 1 Chia (currently ~1 USD) per 1 TB of given up pool storage.
#crypto #cryptocurrency #cryptocancer
@unfa @wolf480pl
Value will probably be realized in the form of increased density. So in a few years we'll start seeing 100Tb or 1Pb SSDs, similar to evolution of GPUs over the past 10 years.
@cjd @wolf480pl Well, maybe this will motivate storage technology developement in the long term, but in the short term I think it'll cause a scarcity and price hikes of HDDs.
@unfa @wolf480pl
Also remember that when prices go up, it's not necessarily cryptocurrency that's to blame.
Pictures: Steel price, M1 Money supply.
@cjd @wolf480pl Sure - maybe Chia will have no effect on the price of HDDs. There's probably thousands of factors affecting that. I hope I am wrong about as upcoming HDD crysis. I very much wish there's not gonna be one.
@unfa @wolf480pl
Well, thousands perhaps, but I think the big one is the money printer going burrrrr.
Kind of hard to pin this one on Chia when the physical materials used to make the harddrive are going up faster than the harddrive itself.
@cjd @unfa @wolf480pl Whenever a graph is published without a properly marked X-axis, an angel falls from the heavens. Also, what country, what currency? Unfa's original graph was marked in Polish Zloty, for example.
@wolf480pl @cjd I don't know. If the demand will go exponentially up (as it often does), I don't think HDD factories can be built faster than this. Also - the resources required are limited, and this is a whole complex industrial chain. I do not think it'll be able to adapt to this increasing demand fast enough.