Chia slowly disappears over the horizon

General Chia Discussion
23

My personal perspective on Chia: I started Chia on May 2nd, before it was traded. Before there was a price on Chia. I planned on having about 50 TiB of farming space. Netspace was 1-2 TiB. I thought that

  • there would be low to moderate interest in Chia. That farming would be done mainly in China.
  • that the price of XCH would be $1 or less
  • that I would be able to solo farm with 50 TiB, get a few coins and hodl them until some years later, it might actually be worth something

As you can see, I was being completely delusional and wrong on many levels. :laughing:

Another thing that I misjudged was how slow plotting actually is. I have repurposed 1 PC, 1 Ethereum mining rig and even 1 laptop for plotting. I didn’t build a dedicated plotter machine. It all adds up to about 29 plots (2.9 TiB) a day. At that speed my plotting barely offsets the netspace growth. This means if today my time to win is 65 days, tomorrow with 29 plots more, it will also be 65 days.

These are the facts : I’m not coming out on top of the horse race. What to do?

I figured until there would be official pool support, I might as well join hpool. Now that official pooling support is two weeks behind schedule, it seems to be have been the right decision. I try to minimize the risks that come with hpool by directing the payouts to a second, secure wallet that hpool doesn’t have the keys to so that I have no XCH in my farming wallet at all times. When pool support comes, I will re-plot with new keys.

Would I have gone into Chia, knowing that netspace was going to be what it is? I don’t know. Perhaps not.

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24

Sweet explanation (why 20 chars sometimes less is more)

25

Don’t kick yourself. We thought we would have loads of time before it went crazy. We were predicting $10-20USD per coin. Then the hard drives started selling out and it went nuts.

I tend to kick myself for only having about 39TiB at launch with another 100TB yet to be plotted but we all thought we had time. We just didn’t know how crazy this was going to be.

That’s just life…

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26

It’s not too late if Chia rises in value in the long term. I do wonder if just buying it would be best but where’s the fun? If my servers earn me nothing individually or in a pool I’ll sell them, but at least I’ve learned a bit about setting them up and running them in the process.

27

I think, that even If I will farm idk: 10 Chia over next 3 years - still worth considering high price (which in I actually strongly belive, around 20K $ per Chia). Then maybe hmm: 0.10 Chia per month. Is it not worth? Well, considering 20K $ it is around 2K $ monthly without doing anything (which is actually more than average renumeration in my Country xD). I don’t need to be a millionare, money without any work needed - its enough :smiley:

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