What happens if the price of Chia goes up enough to exhaust the supply of unused old hard drives? Bitcoin used to only consume spare CPU cycles too.
It’s shifting costs from energy to hardware - greenwashing the blockchain/AI/whatever when the real solution is time-tested pigouvian taxes on the external cost of pollution.
That happened early on in the cycle, and it happened only once. Partly because those looking to sell did so once the coin became tradable, then the price took a nosedive and started to stabilize. Once the pressure was released, and those looking for profits exited, it didn’t have the same cycles of mania as Bitcoin and the others. Further down the line, applications were built on top of the chia blockchain. It’s pretty boring as cryptos go, which is a good thing.
What happens if the price of Chia goes up enough to exhaust the supply of unused old hard drives? Bitcoin used to only consume spare CPU cycles too.
It’s shifting costs from energy to hardware - greenwashing the blockchain/AI/whatever when the real solution is time-tested pigouvian taxes on the external cost of pollution.
That happened early on in the cycle, and it happened only once. Partly because those looking to sell did so once the coin became tradable, then the price took a nosedive and started to stabilize. Once the pressure was released, and those looking for profits exited, it didn’t have the same cycles of mania as Bitcoin and the others. Further down the line, applications were built on top of the chia blockchain. It’s pretty boring as cryptos go, which is a good thing.