Monday, September 6th 2021
Chia Miners Resell Used SSDs as Brand New Amidst Coin Plummet
The Chia coin, often dubbed Green Bitcoin, is a project that promised to be a green alternative to all of the previous attempts at creating a coin that can be mined. Using the Proof of Space (PoS) technique requires massive storage space and Chia plotting can destroy modern SSDs in a matter of weeks. However, the green disputes have been questioned widely, and the Chia coin is not considered so much of a green alternative anymore. From its peak of $1645, it has tumbled down by over 80% of that and it is now worth around $281 at the time of writing.
As these prices have declined a lot, miners are starting to look away from the coin and have started to resell their hardware. This massive SSD and HDD reselling has started to obtain new funds for miners to move to another alternative cryptocurrency. In the awe of this, some miners are rebranding their worn-out and used SSDs as brand new, and selling them in China advertising new conditions. As Chia plotting tends to destroy SSDs, it is only a matter of time before these "brand new" drives start failing. After China, we could see other markets flooded with these drives as well, so it is always best to be cautious with your purchase.
Source:
VnExpress
As these prices have declined a lot, miners are starting to look away from the coin and have started to resell their hardware. This massive SSD and HDD reselling has started to obtain new funds for miners to move to another alternative cryptocurrency. In the awe of this, some miners are rebranding their worn-out and used SSDs as brand new, and selling them in China advertising new conditions. As Chia plotting tends to destroy SSDs, it is only a matter of time before these "brand new" drives start failing. After China, we could see other markets flooded with these drives as well, so it is always best to be cautious with your purchase.
57 Comments on Chia Miners Resell Used SSDs as Brand New Amidst Coin Plummet
Chinese enthusiast community will be onto this. Hopefully they can warn enough people about suspicious shops and items, and bleed these people dry.
However, if e-shops are in this together with miners, then that is just a plain scam.
Chia absolutely annihilates SSDs and I wouldn't touch an ex-Chia staking SSD with a ten foot pole.
ETH mining is far less stressful for a graphics card. Most of them run underclocked and in temperature-controlled, well-cooled environments. While its true that the VRAM is getting heavy use, it's a constant 100% load at a steady temperature so it should have very low impact on the lifespan of the RAM and I'd gladly buy ex-mining cards when they eventually appear on the market. Since keeping the cards cool is important for ETH mining, the worst-case scenario is that the fans have been run at 70% or more for 24/7 operation, but replacing fans is both cheap and easy: www.gpufanreplacement.com/
Cards from the above may be OK if only used in winter.:cool:
These sellers trying to sell there beat to hell storage drives as new reminded me of it.
But it's complicated, you dont do it that easy.
At the expense of adding more fuel to the fire on climate change, that we desperately can't afford to be doing as a species.