Are there any real use cases for Chia?

General Chia Discussion
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With minor exceptions, you cannot buy a hamburger with bitcoin and most of it’s trade is still speculation after over ten years in use.

Most coins are purely speculative.

The, “bruhaha” about Chia was and is about the energy saving value of PoS vs PoW which gives Chia a good long-term competitive potential. Chia is also built from the ground up with a much better transaction mechanism/system than bitcoin. This means that Chia has a much better ability to actually act as a currency than bitcoin in the long-term.

Chia was built to be used for more than trading but expecting Chia to be anything but speculative this early is just plain silly.

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23

unlike other BS coin such as Cardano, Chia with smart contract from day 1st

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24

We have exciting times ahead. Not sure how much I’m allowed to reveal.

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25

I’ll assume your new and say “Hi, Welcome!”

  1. How far along is Chia since its launch compared to other coins at this stage in their launch?
  2. What underlying fundamentals make Chia a better coin?

Google the above 2 and you’ll get your answer. Cheers.

26

I buy all kinds of things with bitcoin and ether. I also run a business that accepts cryptocurrencies and we see a good volume of use from our customers. Yes, you can’t yet buy everything at any shop with bitcoins, but there are thousands of shops and millions of things you can buy with bitcoin today.

Regarding the energy savings my calculations reveal a not so rosy truth. Once you factor in plotting, dedicated hardware bought just for plotting (ex. SSDs), HDDs, potentially replotting in a few years, the total energy savings is marginal at best. Manufacturing HDDs requires a lot of energy and other resources. Just looking at what a farming rig consumes is inaccurate. You have to look at the whole picture. Same error is constantly being made when folks evaluate solar power. Once you take into account the cost of making solar panels, and then also recycling it after end of life, the picture changes dramatically.

27

Great. So show me one use case of the Chia smart contract outside of farming. If it is so great examples should be sprouting up everywhere.

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28

What you’re wanting to say is Chia is a useless coin. Idk why you want to waste your life posing that as a question over and over. But that’s your time. We’re here to see the developement of the blockchain and chialisp, and what it will eventually be used for.

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Storage_JM did some very detailed calculations of Chia’s energy consumption. If you have some extra data from your own farm or have done your own calculations, he might be willing to take them into account. (Keep in mind that I don’t know him and don’t want to put words in his mouth)

Either way, it’s good to take a look if you’re curious.

You’ll find his calculations here:
https://chiapower.org/

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30

I have no strong opinions about Chia one way or another. But I am curious. I ask questions to develop an opinion. Don’t take it personally. I understand when somebody has invested thousands of dollars into a coin that they become protective of the coin. That is a subjective rationalization mechanism. You want to rationalize your investment. You will block out any bad news. I am trying to discover objective information about Chia, good or bad.

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I call this type of analysis ‘details hiding the real truth’. He models all kinds of minute things but misses the big picture. First, I really love the first plot he shows on that website. It is completely misleading to compare a mature bitcoin blockchain with a tiny Chia startup. Any consensus algorithm would show a huge difference simply because you are comparing an ant against an elephant. No surprise and utterly meaningless. Second, he completely misses the energy that goes into manufacturing SSDs and HDDs, and also any end-of-life costs.

My own calculations do show that Chia is an incremental improvement to bitcoin regarding power and resource consumption. However, it is my firm believe that proof-of-stake will be the ultimate winner. Proof-of-stake has essentially zero power and resource consumption. Thus Chia, in my current assessment is probably too little too late.

32

Dood you lost me when you branched off into Chia and the power consumption. You don’t have enough “know how” to make any judgements on power usage and what people are using for their farming rigs. It’s idiotic what you’ve said actually. You say BTC can be used to buy things. Okay, when that scales up, what happens? BTC will require the power of 3 small countries, not just 1. It will get beyond reasonable and nobody out there will sit back and let a crypto suck the earth of its energy. You lost credibility by branching off. If you buy new anything for Chia farming then you are one of the “out of the gates” guys. In other words, one of the haters. When it comes to profit in any business it’s all about reducing overhead. Everyone is working to make things as power efficient as possible. We are just getting going on this. It will evolve. Beyond that, name a banking system that isn’t sucking energy from the globe. What industry doesn’t suck energy from the earth?

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I dont think POS is great, energy efficient maybe but its centralising.

I think there’s room for many cryptos, I doubt any will dethrone btc, or none that’s released yet IMO.

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Of course we have a vested interest. That’s why we’re here. Chia is too new to have use cases you pretend to be looking for. Chialisp training semiars were just started a few weeks ago. If you want to know the potentional for the blockchain, go learn Chialisp. Otherwise we see right through you. Just pointing out the obvious. I have nothing else to reply to.

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35

You are just here trying to be a troll. You have nothing to contribute.

There is an easy way to deal with trolls. Stop feeding them.

Bye! :sunglasses:

Topic muted

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36

Investing in Chia is apparently another proof that human society can’t avoid the Herd behavior.

Chia doesn’t offer a better solution to Bitcoin as a currency: scarcity, durability, divisibility, portability, acceptance and stability. Instead, Chia has been promoted as a “green” alternative, although Chia is not truly green at all.

Technology wise, Chia has many unsolved issues. One of them is the pool model. I don’t think the issue has been challenged much so far since Chia is still relative minor.

Chia pool is a mimic of Bitcoin pool, which distributes a share of wealth by showing a proof a “capability”. In Bitcoin, the capability of work is real, because no matter how weak a possessor, it’s only a matter of time for the CPU/GPU/ASIC to win (of cause you may argue that statistically impossible for a weak processor to get anything, but the same logic holds for Chia).

On the contrary, Chia’s partial and full are not mathematically scalable from one to the other. The rationale is simple, just like staying an exquisite decorated room doesn’t mean the hotel and all rooms are as gorgeous as you have seen.

The white paper didn’t shows a proof of sufficiency that Chia partials ensures the scalability of final reward, even though the mathematical necessity could be assumed, I guess. Perhaps other readers could point out otherwise in the paper (for both necessity and sufficiency).

Moreover, the need of “storage space” seems being handled poorly in Chia, in a way of thinking as if PoS meant to be the bigger the more valuable. It’s sort like claiming a “better” dollar by having the bill big and heavy, like a gold bar.

Put it simple, it’s a waste of 100GB of storage space just to achieve the goal of “reserving a specific amount of storage space at that precise time”.

The show case of such waste is right inside Chia itself, just by comparing the data holding the “proof of time” vs “proof of space”. You can tell how inefficiency in the way Chia handles the model (a puny small VDF vs humongous 7-tables).

Nonetheless, Chia is a very creative cryptocurrency (I like it’s use of VDF, for example). Hope Chia can improve, or work out a better version.

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With POS low to no energy is not a ‘maybe’ it is certain. And it is not more centralizing than any other consensus algorithm. Anybody with the resources could dominate mining and farming the way they want just as they could hord coins. However, the advantage of POS is that anybody who does that is also automatically invested into the coin thus less likely to do the system harm. With Chia that is not quite so. Imagine somebody purchasing a massive amount of HDDs, or perhaps even developing a new storage technology that is superior for farming. With that one could mess up the Chia blockchain, and once that has been done, one could use the investment in storage for something else. Thus there is no real investment into Chia necessary to dominate it. With POS this cannot happen because one has to purchase the coin to dominate it and thus one is automatically invested in it. POS therefore has a sort of inherent self-protection mechanism that is absent from Chia.

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I can’t agree with that at all, and im not about to get into why. Lots to do.
Enjoy ur day.

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Just for the record, I am not a particular fan of bitcoin. I am more an ether guy, or better stated, somebody who is looking for new use cases beyond the simple transfer of value from A to B. Smart contracts are great. The ability to be able to program functionality into the system is promising. But where are the practical use cases that improve how a system worked or enable entirely new things before blockchain and smart contracts? I am sure lots of interesting things are possible. I am trying to find real world examples of them.

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Agree. Chia’s POS solution is philosophically wrong, or very inefficient to the minimum. Chia tied up so much disk space (absolute majority of the disks are newly manufactured because anything less than 1TB are meaningless and troublesome for a farmer to integrate).

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Indeed, this is what gets pushed under the rug. Chia is still a proof-of-waste algorithm. Yes, farming wastes less electric energy, but it wastes huge amounts of HDDs and SSDs. Call it whatever you want, it is still a mountain of waste that has no place in an intelligent algorithm.

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