Okay @Voodoo, anecdote time. I had a spare laptop laying around in the office, and all kinds of random disks amounting to about 6 TB, added a disk because I could afford it and will use it for backups in the future when I need some extra space and this Chia thing is not paying off.
So that’s me, a tiny plotter working on making my 150 lottery tickets the rest of the month, keeping it running for the next few years.
Expensive? No. Was I going to use any of this hardware for anything else? Absolutely not.
So yeah, there’s loads of people with more money to waste on this but there’s enough people like me who are just enjoying the ride.
You’re welcome to be skeptical of course but really, so many people are currently in it to make a quick buck. They’ll get bored and move on to the next fad. Then we’re left with the peeps enjoying the possibilities of a possibly sustainable coin. I’m looking forward to the next 10 years!
I wasn’t actually trying to be skeptical per se, but I it just kinda turned out that way
It’s just that I can see the point where some people are coming from when comparing Chia to other crypto’s. And if you want to have any sort of chance at this moment to win a block, you gotta get yourself some pretty serious hardware. I do think the threshold for Chia is higher than others. My assumption is that most people who mine crypto do so to make money and therefor look at it very differently then you do.
I just have very conflicting thoughts on cryptocurrencies and now for the first time i’m actually joining in and so far i’m enjoying it.
Neh… if you have anything laying around it will do, you can start slow, maybe pools will help soon. This is already much better than the stupid amount of power it takes to mine most coins and remember: the plots you make once compete in this “lottery” for years. Unlike mining coins where you constantly need to keep mining at all your GPU/asic power (now there’s an investment that gets worthless very quick…).
With the GPU based (proof of work) cryptos, you can run the video card at 100% 24/7 and it’s, at least in theory, no worse for the wear after 3-4 years. But with Chia, you are burning up SSDs to make plots that eventually turn those SSDs into trash – they can’t be re-used.
The 12/16/18tb hard drives that are used to farm the plots can be re-used for quite a while though. Farming is a very low intensity activity, since the farmer only checks plots that pass the initial harvester proof check, the disks aren’t very active.
According to the Web site Digiconomist, a single bitcoin transaction uses the same amount of power that the average American household consumes in a month, and is responsible for roughly a million times more carbon emissions than a single Visa transaction.
So OK great, people with a basic level of tech competency can eke out a whopping $300/month of Universal Basic Income thanks to bitcoin going 6x in a year:
(This assumes you can afford the initial $300-$1000 investment in the GPU, I am not sure which minimum GPU will guarantee you $300 of income per month, can anyone confirm?)
But in the meantime, electricity use spikes? I guess this is OK big picture if solar really takes off, and everyone has solar to offset this GPU Universal Basic Income grinding? It also assumes bitcoin stays at this level, or even increases in price… so many questions… but I feel proof-of-space has to be the way forward.
The problem i have is that the current chia plotting/farming solution is not reliable enough - there are far too many SILENT failure modes and it requires a decent amount of expertise to find out what the problem is
you know that only too well codinghorror
I have 924 plots and no rewards - solid/reliable harvester timings, single node/farmer, samba access to 3 plottters + a rake of local SAS drives
01:04:02.156 4 plots were eligible Found 0 : 1.17288 s. Total 924 plots
01:04:10.567 1 plots were eligible Found 0 : 1.06941 s. Total 924 plots
01:04:18.543 3 plots were eligible Found 0 : 1.35180 s. Total 924 plots
2 weeks in - bad luck or bad setup ?
A pool would nail that in hours - we shouldn’t be in production without at least 1 as a setup sanity check
Pooling can’t get here fast enough. I can’t wait till folks are getting regular fractional payouts. Maybe the signal to noise ratio will improve drastically.
I’m a fan of both approaches… My 2 year old absurd gaming rig had TWO 2080Ti cards, and around sometime in February I discovered NiceHash. With those cards, I was getting ~$10/day… Then I realized that a new 3090 outperforms the two 2080’s, and would technically pay for itself (at retail price) in about 6 months, so I got another machine with a 3090 and now generate more than $20/day (sometimes 40)… In comes Chia, and now these machines can be doing both… so I have ANOTHER machine arriving tomorrow, with a 3090 and a ton of drives. I’ll be gaining $900-$1000/month in BTC, plus plotting like crazy. What a world!
My 38 a day plotter runs on 24 sas drives and cost less than $700 (second hand) so no exploding NVMEs here.
Does sound like some is very salty about missing out on the large Chia wind falls we got at the start.
By the way my 3070 won’t make nowhere near $300 dollars after electric. You mate has been lying. P.S. I sold the 3070 to fund HDs there was way more profits in chia. I get about £90 on nicehash -£40 lecy so £50 profits that is no where near the $300. £600 a year. Now with chia I have got profits of $9k and a farming and server I can fleebay for more monies than I paid.
Pooling is coming there is a date, can we move on now?
