“Green Bitcoin trick” makes hard-drive speculators suffer

“Green Bitcoin” caused the hard drive bubble to explode pretty quickly.

In the strong wave of Crypto in 2021, besides familiar names like Bitcoin, Ethereum or BNB, a cryptocurrency that is being expected by many is Chia, or commonly known as “Green Bitcoin”. .

Not having as much seniority as its seniors, Chia is a new cryptocurrency created by Bram Cohen – the author of the BitTorrent protocol. What makes Chia different from the majority of Crypto currently on the market is that the coin can now be mined using a hard drive (instead of a graphics card). Chia’s strong rise made the world’s virtual currency miners stand still, especially in China. In just a short time, the hard drive market has become hotter than ever.

In the middle of April, the price of hard drives on the market accelerated rapidly. Drives from 4 to 18 TB are constantly in short supply. If you want to buy at that time, users will have to spend 4 times the amount before (regardless of old or new). Similar to the graphics card craze, the escalating price of hard drives makes users in general and gamers in particular more and more tired when they want to buy a new computer.

Fortunately, the hard drive craze is not as serious as many people think. In just a short time, the price of hard drives has cooled down quickly and is close to stabilizing. The reason for this is because manufacturing hard drives is not as complicated as it is with video cards. Just to promote sales, factories can produce an infinite number of hard drives to meet the market.

At this point, the speculators fell back because of the “Green Bitcoin scam”. A lot of people have had a heavy deficit because of chasing hard drive speculation. As Xiaoxin is an example. Sharing on QQ and Weibo, Xiaoxin said she lost nearly 1.4 million yuan (nearly 5 billion VND) overnight because the price of hard drives dropped.

The shipment of 700 16TB hard drives caused Xiaoxin to lose 1.4 million yuan.

Previously, Xiaoxin had collected more than 700 16TB hard drives for 4,500 yuan. In the hope that the price of this component will escalate like what the video card has done, Xiaoxin feels excited when she believes that she is about to win. Unexpectedly, since hoarding, the price of hard drives dropped simultaneously. At the time of sharing his story, Xiaoxin said he had lost nearly 2000 yuan for a hard drive. The total of this shipment caused him a loss of 1.4 million yuan, the amount that Xiaoxin had accumulated in this lot.

Then you see, life is often not as beautiful as a dream. Just one wrong calculation step, you will have to pay a price that is not cheap at all.