Just wanted to share my thoughts about the price and future of the Chia.
I am in Chia since day 0 of mainnet launch. I was lucky that I earned a few on the first days before the network boom.
However, today I did a simple calculation to see whether Chia is profitable right now to join or not. Because I am observing many people nagging about the price on social media.
- I have 128 TBs of space which are holding 1282 plots.
- I am not considering expenses for NVME, or to build a system. I am simply assuming you have a decent system to RUN Madmax plotter on ram.
- I am making approx 6.5$ in a day from Spacepool from today’s price.
- I am assuming the standard ROI is 10 months from mining ETH.
10 month * 30 days * 6.5$ = 1950$
1950$/ 128 TB = 15.23$/TB
So simply with today’s price if the cost of storage is more than 15$ per TB for you, you are not meeting the return of expenses in 10 months.
My understanding is the team trying to make a fundamental move rather than a price hype from listing on Binance or Coinbase.
These efforts are introducing the Chia network, Chialisp to big financial systems since other blockchains like Ethereum are not capable of that.
The verdict is up to you to join leave or stay on the network.