Chia cryptocurrency began trading on several exchanges yesterday.
Hard drive prices have nearly tripled and are nearly impossible to find on sale.
Chia differs from all other cryptocurrencies in that it does not use the power of video cards and processors, but space on hard drives.
For a couple of months, news about Chia has been "heard from every iron" but until yesterday it was not known how much the new cryptocurrency would cost. The creators assumed an initial price of $ 20 per coin, forecasts reached $ 1000.
In the first minutes of trading, the price soared to $ 1800, now the price of Chia (token code XCH) costs about $ 660.
I don't know the nuances of mining yet. As far as I understand, it needs one fast SSD of a small volume and an unlimited number of hard drives, with a capacity of 1 TB or more.
Chia mining calculator shows that at the current rate and the current complexity of the network, a four-terabyte disk will give $ 343 per month (which is three times higher than its cost), but not everything is so simple.
Above you can see the figure 4 months. As far as I understand, this means that at the current complexity, a farm with a 4TB disk will receive one Chia coin approximately once every 4 months (and maybe much less often).
It is not known what will happen next with this. Perhaps after entering large exchanges, Chia will rise in price, and maybe vice versa, it will sharply fall in price. One thing is clear - the miners of the new coin bought up all large-volume hard drives and their prices increased significantly.
© 2021, Alexey Nadezhin
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