In 2021, I lost over 300,000 mining Chia. I heard that hard drive prices have gone up, so today I cleared out my hard drives, marking the end of these four years.
Take a 4TB drive as an example, last year it was around 260, this year it's between 290 and 310, depending mainly on the condition and the test results.
The so-called test is to insert the hard drive into the case and run it for a few minutes to see if it works. If it can't be read, it's a bad drive, sold as scrap for 10 bucks each. If it runs but not smoothly, it's 100 bucks each.
Today, when I went to move the hard drive cases, I used a lot of strength but couldn't move them. Four years ago, I could quickly move dozens of boxes by myself. The scariest thing is losing your spirit; the passion of those days is long gone.
The biggest lesson this taught me is that capital plunder can be bloodless. Chia coin is a typical case of capital plunder.
Surveillance hard drives are generally used for monitoring. Over time, many stop working halfway, which are the 100 ones I just mentioned. They can be used but occasionally lose data. Losing data in surveillance can cause big problems, so normal businesses won't want these potentially data-losing hard drives, nor will they sell them.
Over the years, ten, twenty years, these hard drives piled up like mountains. So the father of Chia developed green Bitcoin, mining with hard drives. Initially, the coin price was high, and production was high. All hard drives on the market, good or bad, skyrocketed several times. Decades of hard drive stockpiles re-entered the market. At that time, ships at sea kept transporting from Europe and America to ports, and foreigners sold us their unused hard drives.
In fact, mining with hard drives doesn't save electricity, nor is it green or fair. Its coin explosion mechanism relies entirely on luck. Sometimes, even after mining for several days, you can't get a single coin. I used to pray every day, hoping for a coin explosion today, but the coins produced later became fewer and fewer, not even enough to cover the electricity bill. I had to shut down and store them. My first Web3 venture failed like this, and I went through a very difficult period...
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