The price of SSDs is already increasing due to anticipation over Chia farming! If you’re ready to get started with Chia and SSD and Hard Disk Crypto-Currency, this is the introduction to farming (mining) Chia that you’ve been waiting for!
Dave explains how crypto currency works, what the blockchain is and how it acts as a decentralized main ledger. He explains how Chia disk space mining is different from traditional systems such as Bitcoin and then walks you through the installation of the Chia software. Finally, he shows you how to start you first farm for producing the future currency.
00:00 – Intro
00:58 – Welcome to Cryptocurrency
02:10 – Paper Coins and the Big Ledger
03:00 – The “Prime” Coin
04:08 – Introducing the Blockchain
05:06 – The Keeper of the Blockchain
05:49 – Anonymity and Privacy: The Wallet
06:18 – Lost Wallets
06:35 – The UK Dump Wallet
07:50 – Proof of Work
08:45 – ASIC mining: doing hash all day
09:30 – Time vs Space
10:00 – How Chia Works
10:35 – Downloading and Installing Chia
11:05 – Creating Your First Wallet
12:06 – Port Forwarding if Required
12:26 – Starting Your Chia Farm
13:00 – No Sleeping!
13:25 – Remuneration Resignation
14:00 – Wear and Tear on Drives
14:40 – Command Line
15:00 – The Big Reward in the Sky
31 Comments
Well, the USD had value until congress/governors happened in 2020. RIP USD, barely knew yee.
There's one complication with your explanation of currency being easy to tell it's not counterfeit… when a payment flows, say, from Walmart to some manufacturer in China, they do not ship a pallet of hundred dollar bills. They do an electronic transfer. Most of our money is not in hard-to-counterfeit paper notes any more. It's stored in a banks database. Currently, those numbers are trusted. That could literally change overnight. All it would take is one hack. Some big bank like JP Morgan announces their systems have been infected for an unknown period of time, altering records, and they cannot have confidence in their data. Then China announces it will not accept SWIFT transactions until it can be certain the numbers actually represent something of value. On that day, crypto will be sitting there saying 'umm guys? you need digital things that cant' be counterfeited to store and transfer value? that's… uhh… that's kinda what we do.'
Why build computer if con't test it out fully
Before anyone thinks chia is something New and exciting.. Check out signum. It does not need an ssd at all, its well estabilished, and had proper real life use case.
While chia has nothing.
Please support the signum network. Thank you.
Okay, a little late on this video – First, I really enjoy your channel. However, this video was disappointing – certainly we are each allowed our own opinions – but there are just too many costs, in terms of the environment, for crypto currency. Sure, Chia may not be as bad as the others, but in addition to the energy waste, there is the general "e-waste" of old hard drives that will be destroyed and tossed in dumps because of this mining. I understand that people like certain aspects of crypto, but it seems to me as something unnecessary – we didn't have any problems paying for things before it, and now it is consuming way to many resources, for what I feel, are small benefits. Anyway, still a fan – just disagree on this issue. Thanks and best wishes!
but the questions is how much internet speed it uses?
Would love to see an update
This is Burst 2.0 . Great fun but ruined over 100TB worth of drives
If only a crypto coin was based on the stored energy in garbage then all beaches, oceans, highways, streets and parks would be spotless in a couple years…
search for: How The Biggest Banks Get Away With Fraud
FUCK ME. all we need is SSDs to be unaffordable now like graphics cards. FUCK crypto. it should be illegal.
Bitcoin mining isn't safe for GPU lifespan, and this isn't safe for hard disk AND SSD lifespan… When will we gain a crypto that doesn't ruin our devices? 🙁
In so much time and money spent Chia is unable to make a simple small software to be able to plot on secondary computers without opening the full node. It is how u can see who is runing this project and how smart they are. I will quit this project today as i wont be their tester. They should have provided the tools, not make us use cmd and spend days just to understand how to run plotting.
a video about mining in linux would be really interesting 🙂 Keep the good work up o.o/
is it possible the sleep feature activated across multiple drives can cause more spin ups and spin downs that cause wear on drives that will be known to be used later on? i got this from linus tech tips from 2018 burst coin episode. FYI burst coin 3 years later has gone to zero effective. chia is however gaining again but the amounts of trade per day and money in system is too small for me to take a risk with it. ok. best.
Hey real quick I want to say .. taking screen shots of seed phrases is a big No No . Many apps have access to your photos . I personally ran into rogue Twitter employee , that cropped a screen shot of my address off a shipping screen shot and put it on my wall paper then ban me for 7 days .. meaning I couldn’t take it down .. all this was done by this employee because I supported a certain political party . Don’t leave seed phrases in your photos
thank you
If you're a scalper or a miner there's a bounty on your head.
Chia isn't as green as it claims – thrashing storage and killing SSDs in months. Also the from what I've read it's absolutely pointeless to try and farm it now as a chance of turning a profit is pretty much zero. You can invest thousands of dollars into it only to have it pay back a fraction of that after months of work.
Jesus Christ, not even more uncontrollable inflation of prices… Please don't sink to this level.
OI! ITS CALLED FARMING.
Best explanation of mining and how crypto works that I've heard!
Excellent explanation!
Sir which mining app or cloud mining legit
Hopefully it's not too late, or maybe you already made the video, but can you make a video for the cli option, for linux users?
I did Bitcoin when it was released back in 1999. I steel have my Wallet from back then but not the password 🙁 I had 125 coins so ya lol
After a bit of playing last year, I found 4 threads and 8GiB of RAM was good per plot, on a 3970X I was doing 13 simultaneous, starting at half hour lag times (the queue was set to auto start a new plot every 4.5 hours, and I started 7 simultaneous queues each one 30 minutes after the previous one) as my final storage was LAN based and that took longer to move the final plot to after it was created than SATA drives. I managed to get to a record of 37 101GiB plots per day at one point, each plot took about 4 hours to make and 10-15 mins to copy. But those days are long gone I think, although I still have about 100TB of WDC External HDDs chilling under my desk full of plots.
Cool, now I can't buy that SSD for my computer…
Chia looks lucrative….. aaaaaaaand its gone.
Hi Dave! How is chia doing for You now? Thanks for your content, I learn a Lot!
At 15.55 in still no info related to hdd mining omg I'm. Being mansplained via YouTube