It’s not… 20 characters
Wow what a dumb comparison to compare a 3090 mining ETH to 355TB of Chia farming.
ETH is at around it’s highest value ever right now and Chia is very low. ETH used to be worth 500 € a year ago, now it’s 7 times that.
Chia will go up in value a lot in the future and that’s when your comparison will look dumb af.
But there are so many NFT marketplaces coming out daily…so its nothing special and it seems to be taking a long time… Chia i hope will be developing some more innovative utilities that will be worth the wait!
If chia price goes up, more people will mine it.
If more people mine it, netspace goes up.
If netspace goes up, a miner gets chia less often.
Balancing that is that a miner only mines if it is profitable.
This means that a miner earning $1000 a month is willing to spend $7-900 a month WHATEVER THE THING BEING MINED.
In gold it goes on diesel and tractors.
In bitcoin it goes on antminers and electricity
In chia it goes on replacement hdds
But why is burning $800 of diesel less green than burning through $800 of HDD?
If you burn through $800 a month on replacement HDDs you either got a 10PB farm made of 1TB HDDs or you’re doing something wrong. Well you’re doing something wrong in any case.
I’ve been farming 6 months now with 200TB and haven’t have to replace a single one.
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These are the good times!
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Where did you get that idea? Chia miners are investing in potential future profits generally.
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Why? Cause $800 of diesel, burned in a month, is up in air pollution and gone. Whereas $800 of HDs is sitting and farming, no pollution, no need to reup another $800 next month to keep it going. HDs don’t die in a month. That’s why.
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The Chia critics are almost all looking only at short-term farmer profitability (and they tend to call it miner/mining, which is a giveaway that they have no first-hand chia experience). That’s why they seem unable to consider energy usage relative to blockchain transactions, but only relative to their own farming (sorry, mining) profits.
But they are right about one thing: Chia is NOT a good choice for those who are just looking for the next get-rich-quick hypecoin. It was never intended to be that since it needs to be NOT that in order to attract large institutional players. And here I don’t mean exchanges.
Arguably, the worst thing that happened to chia is that it BECAME just that (the next get-rich-quick hypecoin) for a few weeks back in May, yielding great profits for those who had a farm ready at the time. We all know what that lead to in terms of explosion in netspace.
On the good side, that explosion created an incredibly decentralized and stable blockchain, despite its young age, which is EXACTLY what Chia Co needs to convince large institutional players. Of course plus being a strong platform for development, which it is.
Meanwhile, price is searching for a bottom, while netspace doesn’t want to come down, it just stagnates. This indicates to me that the famers are NOT selling out their XCH and closing shop. But maybe there is some institutional accumulation going on. In any market, if you are large enough to move price, even when you don’t want to, you do not buy high 
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how close are you to ROI? I’m aiming for a similar set up but I am a new miner who is now powering a mining rig… I wonder how many people are new to mining with Chia?
So was there enough unused space “Out there” to build the network to what it is? with the money to be made i doubt if people with the spare 500gig on their computer would bother
I sort of wish we were more talking about why Chia is remaining flat right now when it should be rising with BTC and ETH right now. The concern should be when BTC and ETH take their next dive, will Chia dive more. Like into the $100 range. My concern largely is value vs. power consumption and if the value of Chia dips to where power costs outweigh the value then certainly the concept of big data centers farming starts to take on water. The energy debate is interesting none the less.
Surely you understand the basic principle of a free market.
Expecting one thing to rise because another does is not a sound expectation.
Far to many variables at play.
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It’s what I believe most people have observed for the past 6+ months. Like clockwork. Rinse. Repeat. I think any competent observer can and has seen this trend across crypto. So to see Chia suddenly break off this trend should raise alarm bells. Yes, if when BTC and ETH drop again, Chia holds? Then great. Concerns should be alleviated. Every previous instance shows that when BTC and ETH drop, Chia drops like a rock as do other coins. There was no bounce back for Chia in this latest round. This should be a major concern to everyone involved in this project.
Past performance is never a guide.
It certainly hasn’t done what you say for the past 6 months in my reality.
You can’t speak for most ppl, only yourself.
I completely disagree with you, and I’m not about to start debating what I consider to be nonsense statements.
Enjoy your weekend.
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Chia is a HODL game. Come back 2 years from now and you´ll be glad you sticked around with us <3
Honza from OpenChia.io
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Right, let’s ignore what happens with crypto and has been the trend with crypto since crypto started. Anyone disputing how the market works is either new to crypto, can’t accept they are new to crypto or are simply obtuse. I don’t think there is anyone who has minimal crypto knowledge would dispute that S coins rise and fall with BTC. The holy grail of course is being able to chart their own path, but ETH has barely been able to achieve that. S coins have a long way to go. And yes the terminology I’m using is tongue in cheek and Chia is by no means a S coin. I’m sure anyone outside of Chia would lump it in with the rest however.
I got into crypto when btc was about 20$.
Your writing nonsense.
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The answer is right there in your post: Most cryptos are, in fact, S coins (or hypecoins as I call them). They serve no other purpose than mining and speculation, and never will. They just follow the the ebb and flow of BTC, then sometimes overshoot or undershoot as various celebrities make various proclamations on social media. That is the reality of most cryptos.
Then along comes something like chia, which was deliberately designed NOT to just be a fast mooning hypecoin - knowing that institutions wouldn’t take it seriously if it were - and architected to do a bunch of serious stuff.
It is not unexpected that it doesn’t follow the ebb and flow of the rest of crypto world and that it doesn’t rally on hype. You could argue that’s a good sign if you believe that crypto can be more than a get rich quick vehicle.
And if Chia Co is indeed working with institutions to do serious stuff with chia, it is also not unexpected that its price is suppressed while they accumulate, for the reasons explained in my last post in this thread.
Google Richard Wyckoff for understanding of how accumulation and distribution really works. Which is different from the way cryptos have traditionally behaved, because they haven’t had much institutional presence.
Of course I don’t know if these dealings are actually going on as I suspect. But it would explain the price behavior we’ve seen.
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@AnyFarmer, I appreciate your points on this.
I definitely wouldn’t participate in Chia farming if I didn’t believe that it had potential to be something great. No question the Chia leadership is going about this the right way.
I will still insist that Chia has indeed followed the ebb and flow of non-BTC crypto up until the most recent BTC crash not that long ago. I guess it’s just me that is concerned.
Another angle to my concern is the pre-farm which is for paying expenses and operations. If we consider it’s hinged on the value of Chia, about 2 months ago they were sitting on a decent amount of resource (money) in comparison to today. If Chia drops to $100, then what? Was spending based on the coin being worth $100 or was it done under the belief that the coin would be $200+? If you’re resources to run a business run out, in this case the pre-farm, then what will that do to this project? If that pre-farm was part of your value and the value drops by 50%? 75%? More? Then doesn’t it become a situation where you can’t pay for all the developers?
Obviously I’m nothing more than a farmer. Nobody is privy to the business plan. I do know what the pre-farm was and is intended for. When that pile literally loses its value on a weekly basis and is heading in one direction, how is that not a big concern for the project?
Even BTC’s rise over the past week or two hasn’t been enough to budge Chia higher. I’m astute enough to know this is not reason for optimism.
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