Some of the data, that’s right. Don’t know what would happen if some of the token tranches could not be unlocked and payments should be done with company income.
Chia is the same pow, just in a trenchcoat. It relies on being horribly inefficient and is designed in a way to allow miner to store intermediate solutions. Doesn’t mean someone won’t use beefy hardware to generate solutions without an intermediate step once it becomes economically viable to do so.
Miners now use what, 27EiB of space? That’s 2.7 million hdds, if we assume that 10TB drive is used on average. It’s over 15MW of power and I didn’t even start counting amount of power and waste that was generated by plotting process.
You will now say that it’s nothing compared to bitcoin, but chia is nothing compared to bitcoin. And when you compare it to shitcoins, which are exactly what chia itself is, you’ll see that pow shitcoins have either same or lower level of power consumption.
Chia is as green as a broken plastic christmas tree you can find in a nearby landfill.
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Journey has just begun!! enjoy they trip!!
Right and when eth2.0 finally happens, none of this matters, because nothing is more efficient than not relying on complex calculations to begin with. And besides, all of this is about HOW it does what it does. Not the value of what it does. Did we need another blockchain that does similar things to other blockchains? Why would anyone buy Chia? Especially since it has endless inflation built in. The only reason to invest in Chia is if you think there will be a greater fool who will eventually pay more for it.
So congrats, they found a way to more efficiently create a product that nobody needed.
Edit: added a link to the term greater fool as to not have it confused to be an insult.
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loved your answer!! greetings!!
I disagree. The product (a secure blockchain) cannot be created more efficiently than PoW. PoS seems cheaper but that is because it is centralizing and harmful. Proof of Space, I think is not cheaper either. chia price will drop until mining costs = chia made + small profit (as for bitcoin) And then to make more profit you need more hardware, more replacement costs, more electric.
Bitcoin burns purer electric, maybe, and chia burns less electric and more hardware but burn it does.
Chia network might use less but that will also mean that it is worth less in general. I don’t mean the coin value here, I mean the value of the network to the world.
It is probably someone’s or others law…
Chia does have advantages like smart contracts but I don’t know about that
I think https://farmer.flexpool.io/ would work better, due to it being a pool and you don’t have to run a node.
Chia is dead an not profitable and you replied to a post 2 years ago now.
Yep, which happened to be before pools even existed. The test I did would definitely not be profitable today. It was always just a proof of concept to begin with. I only ever ran it for a day or so.
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$0.35 per TB per month is what I get from chia, so storj is still very generous at the moment