Chia is doom for failure if this carries on. Everyday the price of XCH is plunging more n more. The network have not even started in terms of businesses adopting the use of XCH. Its no longer possible that this will work. The world supported this vision of having greener mining alternative, hardware shortages high hdd prices yet today, the people who supported this network only end up losing all their money.
There is no confirmation news on IPO. And judging by the XCH drastic plunge. The people behind XCH are not doing anything to raise the prices. Soon, people will sell their hardware and this network will fail thoroughly.
A junk program, full of vulnerabilities, from the initial pool protocol did lose, to the recent P chart vulnerability, proved that this is a very failed program, I suspect the CHIA team is a group of fraudsters.
As someone who’s against alt-coins in general, I’ll defend them and say that it’s not fair to blame them for the economic fallout. Like what they said, Chia was really too successful at launch. They didn’t think that Chia would explode in popularity to a point where people so need-ly demand pools and for faith to be lost so fast. They probably just thought of pushing out a working copy from scratch(I don’t think they forked any thing) since it’s been in development in so long. And you can’t blame them for trying to push out the coin without pools since there could be so much more to the wallet that needs patching and refinement. As a software engineer, I think the early functional turnover was a safe move.
The fair cause of conflict is that people are buying the craze too much. Do you research and invest wisely before you starting into speculative markets.
It’s not about investing, on the contrary, I’m on the early profit side. But that doesn’t stop me from questioning the ability and intent of the CHIA team. For more than 2 months, CHIA has exposed serious problems, from the initial lack of pool agreement, to the pool agreement repeatedly jump tickets, to the recent third-party application of P-map time optimization, all prove that CHIA loopholes, and a disabled person.
I’d still give them the benefit of the doubt here. Every piece of big software regardless of it’s origin has vulnerabilities and bugs that customers encounter before the devs. Ethereum has had much bigger vulnerabilities and it’s still going strong.
Fear, uncertainty, and doubt (often shortened to FUD ) is a propaganda tactic used in sales, marketing, public relations, politics, polling and cults. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.
OP doesn’t want competition and is trying to scare you away from Chia.
First of all they will never be able to get any securities commission to let them IPO in any reputable or decent third world country (not even India or Pakistan). If this were to become a reality it would be in Venezuela or Argentina or any of the potential “4th world or Jurassic countries - Africas or somewhere”. Second this is not a scam… This is one of the best orchestrated scams ever, and I sincerely respect that (if I could get away with a heist like this I would surely rob each and every one of you and your grandma’s for every dime they had) so much so that they are having everything go their way and no one can pin point what their endgame is…they are not green, they have elements of proof of work, they are capital intensive (on the crowd source end)…entire marketing ploy: LIES! Anyways Karma has sharp septic fangs and shiny white teeth and it just took a first bite out of their bloated big behinds… CHIA WILL SURELY FAIL!
But u have to look at how it performs VS all other coins.
Chia keeps going down. It was a stable $1400-$1600. Afterwhich it just keeps plunging. To a mere $400 / xch.
Others have fluctuate amongst their stable range. Look at eth (2400++) btc (34000++) even meme doge (0.30++) only chia 1600-> 400. (400) not 400 ++ as its not even fluctuating at 450 or 470, it just keeps going down. It will go down to a point that no longer makes sense to support the network. Growth will stop and eventually project will fail.
Sadly, im a strong supporter. I want this to work because i believe in the idea and vision of the coin (being green)