New cryptocurrency: hard drives and SSDs will soon be priceless?

New cryptocurrency: hard drives and SSDs will soon be priceless?

New cryptocurrency

The supply bottlenecks for graphics cards, together with a surge in demand since the pandemic and the Kypto boom, have made availability extremely difficult - and caused prices to explode. For example, if the RRP for an Nvidia Geforce RTX 3090 is around 1,550 euros, in reality you usually pay at least twice as much, i.e. around 3,000 euros. On the one hand, this is extremely annoying for gamers, and on the other hand, it can even be a serious business problem for people who are professionally dependent on new graphics cards. After all, hard drives and SSDs have so far been spared this development. But that could change soon - and this is due to a new cryptocurrency.

Buy SSDs at Amazon Also interesting: Nvidia Geforce RTX 3080 Ti - new graphics card soon available for everyone?

New currency Chia

Most people should be familiar with Bitcoin by now, and Ethereum is certainly well known to many. But the blame does not come from the well-known crypto currencies. Instead: a new currency called chia. If previous crypto currencies rely on a lot of computing power, Chia relies on free storage space on hard drives and SSDs.

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Storage instead of computing power

The BitTorrent inventor Bram Cohen came up with this new crypto currency. Instead of "proof of work", the value of the currency is created through "proof of space and time". According to Cohen, this new currency should conserve energy and ultimately resources, because: Computing mining farms are not necessary for creating currency, as is the case with Bitcoin and Co. This means that the graphics card market, which is already overheated, is not further fueled by Chia. A completely different product category could be in dire straits: hard drives and SSDs.

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Prices are already rising

This can already be seen in China, where a hype on Chia is already ensuring that the prices for storage media rise significantly in a short time. Crypto miners stock up on HDDs and SSDs in order to be prepared for the Chia launch. Because so far the new cryptocurrency has not even been traded. Some companies are already planning to restrict the purchase of HDDs and SSDs by miners and to develop special hard drives for crypto miners.

Sources: Computerbase /

New Study Reveals Crypto’s Biggest Investors Right Now

a man sitting at a table using a laptop: Handsome young man looking at his laptop and adjusting his glasses while sitting at his working place. © g-stockstudio / Getty Images/iStockphoto Handsome young man looking at his laptop and adjusting his glasses while sitting at his working place.

Gemini crypto exchange today released its 2021 State of U.S. Crypto Report, finding that today’s “average” crypto investor is a 38-year-old male with an annual income around $111,000.


See: How Does Cryptocurrency Work — and Is It Safe?Find: How to Invest In Cryptocurrency — What You Should Know Before Investing

However, as the number of crypto investors is set to double this year, according to the report, that profile could change. Today, more than 21.2 million adults, or about 14% of the U.S population, own cryptocurrency such as Bitcoin or Ethereum. Gemini’s research revealed that about 13% of those polled shared intentions to purchase digital assets within the next 12 months.

Who are tomorrow’s crypto investors? Individuals with an average age of 44 and an annual salary of around $107,000. However, there may be quite a few more women on the list, according to the study’s findings. Of the 63% of adults who say they are “crypto-curious,” 53% are women. These individuals say they are interested in investing in digital assets but want to learn more first. Twenty-six percent of current crypto holders in the U.S. are women.

The majority (74%) of cryptocurrency owners today fall between the ages of 25 and 44, with another 19% between the ages of 45 and 55.

See: 4 Best Places to Buy and Sell Cryptocurrency

Find: Want to Invest in Bitcoin but Don’t Know How? We’ve Got You Covered

Education seems to be a crucial component of crypto growth for investors and “crypto-curious” alike. Of the 3,000 people polled, 77% said they want to learn more about crypto, even if they already own some cryptocurrency.

Of those polled who say they already hold some crypto, 33% consider themselves “very knowledgeable,” while 12% say they are extremely knowledgeable. Forty-four percent say they are somewhat knowledgeable, while 11% of current investors classify themselves as “not very knowledgeable.”

Somewhat surprisingly, 39% of the crypto-curious classify themselves as “somewhat” or “very” knowledgeable about cryptocurrency. However, 60% assess their knowledge level as very low, with 46% saying they are “not very knowledgeable” and 14% saying they are “not at all knowledgeable.”

See: 10 Best Cryptocurrencies to Invest in for 2021Find: What Is Chainlink and Why Is It Important in the World of Cryptocurrency?

From this data, the Gemini report extrapolates that “the vast majority of crypto investors are taking the time to thoroughly understand this space before investing.” The report also states, “The potential ‘next wave’ of crypto buyers will continue to be savvy and well-researched about crypto’s purpose and potential.”

As the crypto market experiences a dip this week, it will be interesting to see if the number of investors increases past Gemini’s projections or if the crypto-curious population continues to watch and learn until they feel more confident in their ability to make sound investment decisions.

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This article originally appeared on 14% of Americans Own Crypto Right Now – Here’s Who’s Actually Doing It Right

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