I think the important thing here is not what Bram says because he always says something, he manages a cryptocurrency that went from 1600 usd to 16 usd, how can his words be important?
I think the important thing is;
bwfree (i am sorry i dont know your real name) already left the farm. He also left his job as a lawyer but despite all this he is still being dragged into the discussions. The guy (bwfree) is still wasting time on this nonsense. I am really sorry for you my friend. Maybe it is not much but I want to say I love you. I hope this helps to make up for the loss of time a little.
The main problem I see now with Chia is that so many people lost faith that any moment the price moves up, people will start selling to cover losses, making any upwards trend very hard to maintain.
The main problem I see now with Chia is that so many people lost faith that any moment the price moves up, CNI will start selling to cover losses, making any upwards trend very hard to maintain.
Guys, please donāt give up. Itās still profitable to mine Chia if done correctly. From my point of view, I mine NoSSD C32 plots and Iāve set it up to farm 60 hard drives of 18TB with 2 3060Ti graphics cards. This setup helps me lower the electricity cost to equivalent of $6/xch. Thereās still room to continue; itās not great, and itās not what I had planned, but at a price of $0.175/kW, I can keep going.
Indeed, things have gone crazy around these news about the conflict between Brian Freeman and CNI, plus the whole context of the crypto market has led to these massive declines. We must not get discouraged. Itās very important to unite and FORCE CNI to release a new plot format and ban GPU compression. A new format that will help us stay afloat. Brian has already exited. He declared that he sold everything at $28/chia; I HAVENāT EXITED YET. In 3.5 years, Iāve mined over 6000 XCH that are just sitting in my cold wallet. Kudos to him for getting out when he needed to.
Small problems with your concept of āprofitableā. First, electricity is only an expense, not the whole costā¦for example you do not mention the equipment necessary that is required to farm/plot. As a depreciating asset that has a time cost. And it is not a little $, rather quite a sum. Then there is your time cost, but I digress.
Second, just because you can make a few cents a day, doesnāt make it a good use of resources($). If youād put the money youāve spent (are spending) in the bank, or some other fixed return product, youād likely make more that what you are now. Or invest in NVIDA, or AMD, or even INTC for a better ride with your money, at least for the next couple years! That would leave you time to do any number of other things!
Third, do those in the know who have exited Chia positions know something you do not? Perhaps, and always wise to note and investigate that as you proceed. That is, donāt be the last guy to have the door hit you in the you know where. You could be left with a boatload of XCH (what is āan XCHā ???)
Fourth, you make Chia sound like some holy thing that should not be abandoned. It, like most all crypto, is a concept, It is completely ephemeral, as no actual value to nothing, right?
Fifth, if you think a new plot format will āsaveā Chia, that is a real longshot. Even good ideas (if that is one) that are applied to things that have fallen out of favor with the general audience that might be interested (Chia as crypto), are most often ignored ā¦ as part of a last gasp of the continual decline of a failing project that will inevitably fail.
there is alot of crypto projects that came back from ashesā¦
Even ETH. Chia has a lot of potential; the project shouldnāt be dismissed, but indeed, the people involved seem to spend their time sabotaging it. Yes, I believed strongly in Chia because I really wanted to get in on a project like this from the start, not just out of a desire to make money overnight. I invested quite a bit, and even Brian messaged me privately a year ago saying that no matter what happens with Chia, I should hold on to my COINS and sell the equipmentā¦ Now, things got strange. We had 2 halvings. Weāll see what happens.
What about other opportunities? What could I do? Itās tough now, after the war. Itās true, a lot of time invested, attention lost because of this project, a lot of money spent, and in the evening Iām glad that the energy cost for a farmer I built represents about 35% at a xch price of $16. If it rebounds to $25-30, Iāll be in a different league. Maybe Iām just dreamingā¦
Yeah, we can always hope Chia can recover, or at least the coin maintain some value. I too have been in it since inception. At this point, now a few years down the lonely road that is Chiaā¦ and truthfully it feels like unrequited love, IMHO. Lot of promises made, few kept, lots of shenanigans.
ā¦meanwhile, I have no disks farming, only my stash of XCH to remind me of what could have been.
I really feel what you saidā¦
right now, im replotting to C32 NoSSD entire farm from C34 NoSSD, and 18x 2TB Corsair MP600 are 100% used. I already ordered 18 new. I know i could replot directly on hdds but 6 mins is too much compared to 50 sec plot time.
I was thinking of your msgs and I have a big argument.
I think is better for us all Chia lose its control over XCH. untill last year own more than 70%. Not good for business also. Right ?
Could beā¦it should stand on its own, if it is to survive. Not sure how much control they haveā¦that is other than selling into the market large amounts of XCH to fund there operation and depress the price. Thatās plenty, way too much IYAM.
to remind me of what could have been.