is already making HDD prices go up.
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.

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@unfa let's see if @cjd 's logic checks out and this leads to increased production volume and lower prices in the long run

@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.

@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.

@unfa I really don't get this one... so you fill your disks with crap and somehow get money for it?

@unfa Once the mania ends, there will be a lot of very cheap second-hand electronics laying around 😉
During the dotcom bubble, everyone and their mother were building fiber optics and broadband internet connections for projects that would ultimately fail, and left the infrastructure behind for us to use.

@nicemicro Well, yeah, but who knows when will it end? Or will it end at all? Bitcoin minim is burning more electricity than New Zealand, and it doesn't seem like it's going to stop any time soon.

@unfa The nice thing about bubbles is that they can end very abruptly once all the people who wanted in are in, and there's no new person to sell it to for a higher price.

@nicemicro Yes, that's why only the tip of the pyramid gains anything, the rest find themselves stranded with worthless currency once the top players sell all their stock.
At least that's how I think this works right now.

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