Cryptocurrency mining could lead to a shortage of hard drives around the world

(ORDO NEWS) — Analysts at the Wccftech portal believe that the growing popularity of the ChiaCoin cryptocurrency may lead to a shortage of hard drives around the world.

Cryptocurrency has recently become a very popular means of investment and income generation. One reason why is because one is not limited to buying from an exchange like Independent Reserve, they can mine it using their own computer. However, energy consumption has always been a factor dissuading would-be miners from generating their own coins.

With the advent of ChiaCoin, this has changed, and it appears to be causing ripples in tech supply. These are the reasons why:

ChiaCoin was created by Bit Torrent (Bram Cohen) and at the core functions differently than other cryptocurrencies. The main difference between ChiaCoin and other well-known cryptos is in the amount of storage, and not in the computing power used in mining.

That is, the higher the hard disk capacity, the higher the chances of getting a crypto coin. The developer of this cryptocurrency believes that the method of its production does not require a significant increase in the amount of energy consumed, meaning it is easier to mine at home at a lower cost.

Because of these factors, miners have now begun to massively buy hard drives, SSDs, and something like a bobcat hnt miner in order to mine different types of cryptocurrency at home and professionally. Some may say that the greatest demand was for drives with a capacity of 4 to 18 terabytes. The average office computer has a capacity between 500 gigabytes to 1 terabyte.

China is a leader in the production of hard drives but they are also currently the leading miners of ChiaCoin. The domestic market may face problems if the shortage reaches them. If this isn’t regulated then in the future the problem could possibly affect the industrial market.

Despite the increasing demand for ChiaCoin in China, it is not yet possible to trade it in many places. Many trading platforms have not yet listed it. However, this does not stop cryptocurrency miners in the least, since they believe that in the future all restrictions will be lifted and they will successfully enter the market with accumulated crypto-assets in advance.


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