China Crackdown and the effects on Chia

I use Gate.io, I find it to be the best one.

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My wife likes to watch thrillers in the evening, I think tonight we’re looking at the crypto/stock market :rofl:

so… 120USD? are you turning off your farmers or is it still in green numbers considering electricity? btw is there any chia calculator which considers also electricity price and also considers a wear of hdds? like a real life calculator at what price is chia really good to mine? at 100USD - is it in green? at 50USD - is it in green? at 150 usd - is it in green? :frowning:

It all depends on your setup. You won’t find a calculator specific to your setup. I was actually thinking of making myself a solar powered Chia farm and buying large capacity hard drives… for best ROI, but I decided against it because I think there are project out there that can and will provide much much better ROI.

well that’s a good idea but be aware of solar panels lifespan - calculate if it is worth and also consider battery system and lifespan of batteries.

  1. yes … it’s waaay better to have one 18TB drive than to have 9x2TB drives from space and heat and electricity point of view. only one good is failure - you have 9 times lower possibility of all system to crash but that’s the only one good in this system

Buy Buy Buy, before it hits $99. :smiley:

I remember about ten years ago when bitcoin firstly hit $200 and then dropped down to $20 lot of people were saying …

and selling out just to stick with hunder or two. Ask them today if they happy with their choice.

I think the move by China will help stabilize crypto as a whole. If they are out, then just do it. Let’s see where everything settles out at and go from there. If it was a bubble, fine. The difficulty levels will drop to something more reasonable across all POW type blockchains. I just say there may be short-term pain but this may be required to gain some decentralization. If anything, the crypto adjustments might tell everyone that decentralized was more fallacy than reality.

Why don’t you suggest China’s gov just is about to make few bucks? well few trills of bucks of course.

IMOP there is one simple reason for the China crackdown on crypto.

There will be only government controlled crypto allowed in China. The digital yuan (renminbi) is being released next year:

The Chinese are also releasing a gold backed currency in conjunction with BRIC and also possibly with a little brother blockchain.

As for the rest of the world the move for now is to further regulate chains for traceability, taxation. money laundering, etc. Eventually other governments will choose to create their own crypto currencies and stomp on non governmental coins.

I will leave it to others to figure out the relative effect on Chia itself and in comparison to the rest of Crypto.

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It was an awesome day to buy the dip. IMHO. I believe in CHIA the company and long term, people will be kicking themselves for NOT buying on these dips. I was asleep at $127 but as you can see it has climbed back up to the 170 level. Still a great time to get in. IMHO.

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Yeah, definitely. Fantastic opportunity as most Chinese are now selling their harvest. It’s crazy and I don’t believe it’s over yet. I’m sure they wait a bit for the coin to go higher before they dump thousands of coins.

I agree and I need an alert to wake me up if this dips like that in the middle of the night so I can buy :slight_smile:

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Prepare for more drops because the Chinese have tons to sell still… it will be a red week for Chia

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Best buying opportunity ever. IMHO

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Meh Chinese people are smart, it’s kinda their thing to not do what gov says, those with assets will for sure manage and will not have any influence imo crypto fluctation wise …

Look at Bitmain, they already have farms outside China, even at the US.

Press: https://www.prnewswire.com/news-releases/bitmain-fulfills-commitment-to-rockdale-texas-with-launch-of-cryptocurrency-mining-farm-to-construct-50mw-facility-300941759.html

While China is losing market share in bitcoin mining, the United States as other countries with low energy prices are gaining market share.

Watch out for some countries like Iran or the Arab countries … they could power ‘solar’ or with ‘oil’ mega farms which would cost them barely anything … and they all welcome Chinese ‘Investments’ and offer tax relief etc…

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Many Chinese people are going to sell because their accounts would be closed.

We must be ready to buy at good price. :slight_smile:

I am not sure which market should I use to buy Chia. Most of the markets are based in China and Hong Kong.
Which one would be safe for my investment?!?

Singapore users will be restricted too. I guess, they will start selling assets. :slight_smile:

Singapore will not be restricted by the Chinese laws.

Binance has problems of their own and I would avoid them in any country.

Singapore is an independent city state in Malaysia and is not subject to Chinese law.

Malaysia is currently one of the crypto mining and trading leaders. I don’t know how much they are Chia farming, but I’ll bet they are in.

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