Can Chia be the second Bitcoin?

Mining is the same as speculating in coins, you need to wait for the bear market to plunge and the bull market to escape the top!

Can Chia be the second Bitcoin?

Since last month, a mining project called Chia (Chia), with the speed of lightning, instantly fire around the world, many people asked the false teacher to write a view on Chia, this so-called “second bitcoin” project can not fight, will it really become the second bitcoin?

First of all, about Chia (Chia) this project, at present is really too hot, plus the recent hard drive hype by CCTV naming, so the market on Chia (Chia) is a variety of views, each show, some say it is a pyramid scheme, some say it is a scam, but also say it is the second bitcoin …….

When anything is at its hottest, we often fail to see its essence. Just like the Fan Bingbing of yesteryear became the Fan 800 million of today, and the Zheng Shuang of yesterday, became the Shuangzi of today.

The project Chia (Chia), to say it is a pyramid scheme scam is obviously over the top, but to say it is the second Bitcoin is also obviously mythologized!

How can this project be so hot? And still a fast fire? I think there are three reasons.

  1. The founding team and the investment team behind it are too powerful. The founder is Bram Cohen, the inventor of BitTorrent, who is a typical technical representative in network protocol engineering, and the following operations and consultants are also very senior industry teams.

2, in the midst of a bull market. Standing on the wind, pigs can fly, let alone a project with such strength and background, the bull market environment is also one of the important factors that Chia (Chia) can quickly burst fire.

3, improved consensus mechanism. Unlike the traditional POW algorithm, Chia uses a new Satoshi Nakamoto consensus algorithm, known as “space and time proof”. The algorithm has lowered the threshold of mining and the need for hardware, allowing users to use their idle hard drives for mining, which requires less investment than BTC mining and is more energy efficient and convenient, even for everyone. This can be said to be the main reason for the explosion of Chia (Chia).

These are the three points of view of the false teacher on Chia (Chia) can quickly become popular. Strong background + bull effect + mining convenience, resulting in the Chia (Chia) fire at home and abroad, fire to the CCTV.

However, after reading the white paper repeatedly, the false teacher did not find much special about Chia other than the algorithm innovation. Idle hard disk mining, the idea is indeed quite good, but this kind of play, FIL has long been played.

Imagination is always good, but once imagination is mixed with interest, it must not be good!

Also hard drive mining, FIL is now what is the situation?

The Filecoin white paper also clearly states that it hopes to utilize the world’s idle hard drive space for value storage. The result? Not only does it go against the original intent of the white paper, but it is even being marketed in China, and the storage is a key to generating junk data, so the pattern and meaning of mining has been completely changed.

And who knows that Satoshi Nakamoto’s BTC was mined with an ordinary computer?

His original intention was to use the world’s computers to maintain the entire Bitcoin network, but now, there are all kinds of different mining machines, ordinary computers have been eliminated N years ago, a variety of mining pools, mining farms, mining machine sets, who is still using computers to dig BTC, in the computer to maintain the BTC network?

So, once mixed with the interests in, in the beautiful white paper, in the excellent idea, in the awesome founder, the final will be tasteless, or even degenerate.

Now Chia (Chia) involved in mining almost no idle hard disk, all a handful of high-performance hard disk, the price of hard disk speculation, and even buy out of stock, these operations and the white paper written on the “idle hard disk” is completely different things.

The ordinary retailer bought the super high hard disk, the price immediately cut, not only the return cycle significantly lengthened, and even the future does not rule out the case of FIL, the current Filcoin project has given up support for individual small miners, to the big mine.

Above, is the false teacher’s view on Chia (Chia) mining. I think, no matter what way to mine, or what coin to mine, should not be in its hottest and hottest time to zap in, or even touch, the hottest time is often the time when the scythe is sharpest, and the deeper the zap, the more painful the cut.

Mining and coin speculation is the same, need to wait for the bear market bottom, bull market escape top!

As for Chia (Chia) can eventually become the second bitcoin, this believes that there is no need to say more. Not to mention Bitcoin, on the Ether, so many years claim to benchmark it, to surpass it, can count a large basket.

The Japanese version of Ether ADA, the European version of Ether AE, EOS to surpass Ether, DOT to beat Ether, what is the situation now, just open a quotation software, you can see at a glance.

This is the case with Ether, not to mention Bitcoin, not anything can be benchmarked against BTC, what “second Bitcoin”, “Chinese version of Bitcoin”, this kind of slogan is too much, especially in the capital plate, cheat outsiders okay.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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