Other Coins - Price & Trading topic

Wham bam #7 … the name internet computer is much not wow and cringey.

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:stuck_out_tongue_closed_eyes:

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Yup. It feels like smoke an mirrors, there is a lot of ‘marketing’.

Tried to find out how to run a node.

Not available yet.

and…

Currently third party organizations are working with data centers to help them participate, and may even supply financial support in special cases.

It’s not available to all. I feel dirty just reading their material. Need to go shower now.

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I saw that this morning and just switched off to it. I’m just going to pretend none of this is actually going on. Head in the sand.

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If Microsoft wanted to run a ‘decentralised’ coin, this would be it.

This is no way to take part NOW with internet computer.

SAFENetwork, even with testnets, the public are able to join in… and soon start creating great things without needing the permission of some centralised system.

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It’s all to be expected, I’m afraid. There are hundreds of trillions in capital looking from an exit from overpriced stocks and with bonds at negative real rates, only losses await there. There are very few safety valves, and crypto appears to be one of them.

But now, crypto is a Trillion dollar market, and any rational evaluation must conclude that there is a sucker born every minute. A flash, a hint at repeating the rise of BTC or ETH, and even a bad scam can make tens of millions now. With almost no oversight. The appearance of very slick marketing campaigns and so forth to try and get a bit of that skim is inevitable.

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People won’t know what hit them when SAFENetwork launches.

It’s got it all for the little guy, me, … and those slick marketing chasing executives will follow.

$500 on launch… I can feel it… and were still under $1.00 right now. :laughing:

…I’m receiving an external nvme drive today to connect to my Pi for the next test net… can you do this for Internet Coin? No… no substance there.

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We’ll need market making to grow like other coins, full stop. So if anyone here has large balances, participation needs to be considered. There are benefits besides the probability of the token value going up. It would be best if this was done with plenty of bull market ahead and this would lead to more major exchanges as well.

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Privacy. Security. Freedom

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:sweat_smile:

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Madness! Is it actually doing anything useful at the time of destroying drives or is it just some sort of proof?

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Proof of destruction (POD) of hardware and money. :joy:

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In this case, do we know if they paid tons of marketing dollars and fees to get on exchanges because this is crazy.

Misleading, incomplete story. Normal Chia setup uses two kinds of hard drives per computer: a fast NVMe HD to do the initial, temporary “plotting”, the disk-intensive part of the process, and 3.5" or 2.5" hard drives for permanent storage of the plots. On an average setup the plotting takes anywhere from 2-10 hours per plot, depending on whether your rig is capable of parallel plotting or must rely on sequential processing, one plot at a time. The CPU, RAM and kind of disk used for the plotting part of the process are all variables of how much time it takes. An average home computer used for Chia farming can probably create 8-12 plots per day. After the plots are created they are compressed and transferred from the NVMe drive to a regular large-capacity (8TB-30TB) 3.5" HD or a 2.5" SATA SSD where they reside for the “farming” part of Chia. The plotting process is what wears out the NVMe disks, from the constant writing and erasing of the temporary plots.

The permanent plots are checked every 9 seconds or so to see if any contain the winning formula, much like checking Bingo numbers. This farming part does not wear out the disks inordinately but it might create a shortage of the required types of hard drives because the more plots your setup contains, the greater your chance of scoring a Chia during the challenge process every 9 seconds. A 2TB hard drive can hold about 16 compressed, permanent plots. If this is all you have in your Chia setup your chances of winning a Chia is only about once a year.

Chia’s great green claim is that once the plotting process is over the computer uses very little electricity compared to the mining of bitcoin. The fallacy is that so many Chia farmers are constantly increasing their storage capacity that the plotting process is almost non-stop (you can farm your existing permanent plots while creating new plots). If hard drive availability had no limits the most industrious Chia farmers would probably be creating more plots almost all of the time, filling up their new external drives and negating somewhat the green claim of Chia.

Many Chia farmers have 100TB or more of 3.5"/2.5" hard drive storage (and constantly buying more). Thus, the shortage. That is one part of the problem. The second part, the destruction of the disk caused by over-usage affects the NVMe disks and, might also, lead to a shortage of those drives, but probably not to the same degree as the other hard drive types.

Already, a shortage of hard drives can be seen by going to shop.westerndigital.com and checking their external hard drive selections. Anything larger than 8TB is currently Out of Stock. 4TB NVMe drives are still very much available on Amazon.com where you can buy multiple quantities still.

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Are you farming?
I currently have a whole 2 plots, only took 24 hrs to plot, not great.
SSD’s arrive tomorrow, should speed it up.

They pre mined 21mill coins to use to boost the network, hopefully they can do some good with that.

Exponentially, if they are NVMe SSD’s.

Some genius is going to eventually want to farm Chia on the SAFENetwork…

image

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AWS is already offering Chia farming.

They are, but only sata server ones, I have no m.2 slots in my old mining machines.

If you have a free expansion slot you can buy an M.2 PCIE NVMe adaptor card to hold your drive. Serious Chia farming can get expensive, real quick.