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Hard Drive and SSD Shortages Could Be Imminent If New Cryptocurrency Blooms

Discussion in 'Storage Drives' started by JohnG7, 17 Apr 2021.

  1. Donnie Fisher

    Wise Guy

    Joined: 22 Jun 2018

    Posts: 1,008

    Location: Doon the watah ... Scotland

    I don't have an issue with crypto currency as a thing/entity to trade. I do believe that for the most part you should be able to trade in goods of your choice. Its just that its so wasteful in the way it does it.
     
  2. Defiant306

    Wise Guy

    Joined: 18 Oct 2002

    Posts: 2,060

    Location: Gorebridge, Scotland

    I have a big problem with Crypto currencies other than generating mountains of e-waste and scarcity of hardware. Its the power use, Bitcoin uses more than Argentina at 121.36 terawatt-hours (TWh), Ethereum uses as much as New Zealand at 41.28 TWh!!!
     
  3. Miganto

    Gangster

    Joined: 25 May 2010

    Posts: 105

    I wonder how much energy has been used in history to create all of the dollars, euro's, pounds, lira, sovereigns, ducats etc and the processing of them...

    Chia launches in 3 hours
     
  4. Jimmy Weirdarms

    Wise Guy

    Joined: 14 Aug 2017

    Posts: 1,006

    Given how much more useful they've been than cryptocurrency, that's not really a worthwhile question. Society does have a problem with people doing effectively busywork around currency and siphoning off 'value' for themselves - having deliberately anti-efficient cryptocurrencies added to the mix is not helping.
     
  5. Miganto

    Gangster

    Joined: 25 May 2010

    Posts: 105

    I'm just curious, there was no hidden agenda there, no need for you to look for one.
     
  6. Jimmy Weirdarms

    Wise Guy

    Joined: 14 Aug 2017

    Posts: 1,006

    It sounds a lot like the usual apologetics, that's all. Such questions are not very often genuine.
     
  7. Miganto

    Gangster

    Joined: 25 May 2010

    Posts: 105

    Sadly it's true that that's the world we live in where you seem to have to state you're being genuine/serious/non-ironic.

    Ironic that your avatar tag is 'wise guy' then :)
     
  8. Miganto

    Gangster

    Joined: 25 May 2010

    Posts: 105

    April 27th it would take ~3 months to get 1 coin per TiB
    May 2nd (a week later) it was ~6 months
    Today (4 days later) it's ~9 months
     
  9. EsaT

    Sgarrista

    Joined: 6 Jun 2008

    Posts: 9,478

    Location: Finland

    That's how Ponzi schemes work.
    Except traditionally those have been less harmfull for environment...
     
  10. Cooler running

    Hitman

    Joined: 28 Mar 2019

    Posts: 798

    Location: Channel Islands

    Not exactly, Ponzi schemes always have the new investors become beneficiaries which send money to the original investors, who become benefactors. Whether they are buying products from the them or hiring them, ultimatly all Ponzi schemes involve a direct flow of money from the new investors to the old investors.
    When mining Crypto that never happens, at least not between miners. You could argue the speculative bubble generated from the increased exposure results in a similar effect, but still doesn't change the underlying fact of the matter.
     
  11. pp111

    Wise Guy

    Joined: 22 Oct 2018

    Posts: 2,167

    I find it unbelievable that in a time when we all now know that we are in trouble with Global Warming that we are stupid enough to invent a money system that uses vast amounts of power. It is beyond belief that mankind is so damn stupid. It is also beyond belief that the governments of the world largely sit by and do nothing.
    I don't care how we stop this energy usage. We can centralise the accounts processing ( in other words create a bank of bitcoin, etc ) or we can just make mining it illegal, but one way or another these currencies need to be stopped. It is utterly shameful the amount of energy they waste in a time when we are all being told to use less.
     
  12. pp111

    Wise Guy

    Joined: 22 Oct 2018

    Posts: 2,167

    Oh, and yes, I have noticed that hard drives seem to be more difficult to find now. I just upgraded my NAS in case of problems in the next year.