How to mine on SSD?
- "Chia Network raised $ 61 million from a group of investors"
- What cryptocurrencies can I mine on disk?
- Which computer is suitable for mining?
- Choosing a hard drive for mining
- Mining software
- Exchange and trade platforms
How to mine on SSD?
Perhaps there is not a single person who would not regret that he did not mine Bitcoin cryptocurrency at a time when it could be mined almost one coin a day on an ordinary home computer with a good video card, or did not buy a thousand - another "cue ball", when they were sold almost by weight at the price of toffee. Today, all attention is focused on a new project - the Chia cryptocurrency. Perhaps Chia (XCH) is a long-awaited second chance for those who could not get rich on Bitcoin by entering the project at its start! Chia is about mining on hard drives, not video cards.
"Chia Network raised $ 61 million from a group of investors"
What cryptocurrencies can I mine on disk?
Chia was first mentioned several years ago. It was positioned as an eco-friendly alternative to modern cryptocurrencies, allowing transactions to be made cheaper and faster. Chia was created by Bram Cohen, an American programmer and creator of BitTorrent. Unlike Bitcoin and similar cryptocurrencies based on the principle of "proof of work", Chia uses principle of “Proof of Space and Time”. It is argued that the new cryptocurrency will be more decentralized, and the mining reward will be proportional to the amount of space the miner occupies on the network. Now new cryptocurrency has virtually no price and is not traded on exchanges. It's like with Bitcoin in the beginning, right? But interest in it is growing like an avalanche and it's only a matter of time. This means that our task is to have time to jump into the last carriage.
- If the project "takes off", then there is an opportunity to get a sufficient number of "coins" now, while they do not yet have any significant value, and sell them later, when they are valued thousands of times more.
- For mining, you do not need video cards that are worth a shameless amount of money at present time. The main tool is hard disks (HDD and SSD).
- Hard drives consume much less power than video cards. For example, a 4 TB HDD in load mode consumes about 5 watts, while the RTX 3080 video card popular among miners consumes up to 300 watts.
- Hard drives can still be found in retail at affordable prices. But hurry up. The process has already started and there are more and more people who want to become millionaires every hour.
- Hard drives are easier to cool. In fact, they do not need this if they are in an open stand. It might not be superfluous to install small and inexpensive heatsinks on NVMe SSDs with a quiet fan blowing around them.
- The noise from working hard drives is lower than from video cards. More precisely, it is different. Noise from the HDD is more like a cyclical hum and chirp. Many torrent lovers even sleep with disks running at night, while video cards are frankly making a lot of noise with their fans. But SSDs are completely silent. To create an almost silent farm that can be placed right in the living room is a dream of many.
- - Hard drives take up less space.
- Large variation in durability for different drive models.
- Uncertainty of the future. It is not known when the project will "take off" enough to turn your life into a carefree holiday, enriching you fabulously. How long we will have to wait is unknown. Everything is like with bitcoin at its start.
- Hard drive hunt has already begun, and we must act quickly.
- In hard disks, the number of records and the running time are counted. In which case it will be a little more difficult for experienced users to "throw off" exhausted hard drives in the secondary market than video cards. Drives with more wear have a large markdown.
- The cost of hard drives will grow steadily. This will negatively affect both Chia miners and the PC market in general. Even an office computer needs a hard drive.
- Like Bitcoin, Chia has a limited supply of 21,000 coins.
- News about the new cryptocurrency travels too rapidly and the slowness dramatically reduces the chances of "starting from scratch." The world's largest SSD and HDD manufacturers have already sold out all their capacious drives. A queue has already lined up for new games.
Which computer is suitable for mining?
- 1. Central processor with a clock frequency of 1.5 GHz, with a number of cores from four.
- 2. From 2 GB of RAM.
- 3. Capacious hard drive. Desirable from 1 TB. Ideally, the minimum configuration should include two drives. One (faster) for temporary accumulation and the second, more capacious, for storing mined areas.
Choosing a hard drive for mining
The following drives are available in retail today:
HDD with SATA3. We are interested in capacious drives with a volume of 1 TB or more.
SSD with SATA3. These drives are available in 2.5 "and M.2 sizes.
NVMe SSD plugged into the M.2 slot. Please note that different M.2 connectors on a motherboard can support different types of SSD - both SATA and NVMe. It is necessary to look at the specifications of the motherboard on the manufacturer's website.
Server class drives (HDD and SSD). Such drives are much more expensive than consumer drives, but their resource is much higher under intense continuous load. We will not consider them for now.
When choosing a HDD, you need to focus on the method by which they are recorded. It is best to take discs that use the usual method of recording - CMR. Such disks are more reliable and have more stable speeds in write / read scenarios. HDDs with "tiled" recording - SMR do not have great reliability and speed characteristics. The best choice will also be 3.5 "disks. They have a more reliable mechanical part, and therefore a resource, compared to 2.5", designed primarily for laptops.
"The world’s fastest supercomputer, the Summit, works at 122.3 petaflops, which is a quadrillion floating-point operations per second"
Your home computer or farm is ready. After the launch of the main network, farm rewards will be distributed, but transactions will not be allowed yet. Once the start of transactions is launched, Chia will be available for buying, selling and trading on most global exchanges.
- Download and install Chia Blockchain. For example, by going from Chia.net or directly from Github.com, choosing the appropriate option according to your operating system.
- Create your wallet. It will hold all the Chia you grow. Yes, new cryptocurrency creators prefer the term "grow" rather than "mine", hinting at the greater environmental friendliness of the new network. Save the key and keep it in a safe place inaccessible to others.
- Go to the Plots section. Select the number of rafts, directory sizes, determine RAM parameters and processor threads number.
- When finished, click "Create Plot" and start farming!
All your farming progress will be displayed on charts. It is believed that for one block mined, the user will receive 64 Chia. Each new task will appear every 10 minutes.
Exchange and trade platforms
Since XCH is relatively new, it is not available for trading on regular cryptocurrency exchanges like Binance. However, prospective traders can start trading the coin on OKEx, Gate.io and Huobi Global.