Chia netspace has a huge recession. Now its 26.59 EiB!! Whats going on? More or less recession is good for farmers as the winning luck goes higher. 
Correcto o no ? 
2 Likes
Well yes, it’s good because we get more chance to win. But a continuous declining trend is not good for the project in the long term.
btw, since the drop started on the second Tuesday of month a.k.a. patch Tuesday, I assume this has something to do with it, most of the loss has been restored already.
The overall downward trend is still there though.
1 Like
my gut says its the old wallet.db… … could be thousands having problems… 1.3.+ doesn’t like the old wallet.db. and if people are trying to hold their wallet.db file into 1.3. or even people just upgrading to 1.3* wouldn’t know that holding that old db will reak havoc with no real symptoms. other than chia just not showing up. or very odd bugs as I experienced.
one thing is certain. everyone will face challenge getting into 1.3.+. if they don’t take direct action to fix it. they will suffer… cause I don’t see chia urging everyone to delete there old wallet.db openly
maybe im wrong tho.
enjoying seeing my profits rise that much quicker…
I think the net is plenty secure and some people should maybe use their over provisioned space for other uses…
as intended.
so net space should go down naturally…
I think there will be a continuous downward trend until something excites the public and there is a huge surge. I am a Chia believer. I think it is the future. But most people will not understand its greatness. We need something simply like a US Exchange listing, and then price goes up, and netspace will track that price.
My two mojo prediction.
7 Likes
I guess people are unplugging their farms because of the higher electricity price and the lower XCH price. This is good for active farmers. Once the XCH price picks up, the netspace will likely come back up.
2 Likes
Especially in China, many people have given up the early high-cost hardware, because the currency price will take many years to recover. These people only want to spend $10000 and make dozens of profits in the short term. They can’t win the future without faith and patience. Like BTC and eth many years ago!
1 Like
Looking at the net space doesn’t really give the whole picture. Top 100 farms hold around 20 EB, and even today there were a couple of guys willing to buy 1,000 - 10,000 plots per day, so the net space is really top heavy, but node sparse.
I would focus more on the number of nodes out there. Currently, we have just a tad over 180k. For the past month, there was a steady drop of 10k nodes per week. In the peak, Chia stated that it was around 320-350k nodes. So, that is close to 50% drop in farmers. That also means that there is no inflow of new blood.
The health of the network requires nodes / farmers, not net space. Same with the ecosystem (the more of us promoting / testing it, the better).
Lower left chart:
https://dashboard.chia.net/d/em15uQ47k/peer-info?orgId=1&from=now-30d&to=now
5 Likes
I have the following files in my wallet DB folder, if I close Chia what ones can I safely delete, and what’s it actually using?
One of the V1 files still seems to be in use going by the modified date.
You should be able to delete everything v1, but also check the config.yaml to see if it points to v2 everywhere.
What I would do before deleting; move the v1 files to a different folder, start Chia and see if anything is broken. If it all works, you can delete the old files
3 Likes
I didn’t read about Chia for a long time (silently farming). Could you explain what’s the hassle with wallets? I have updated to 1.3.0 with no problem a month ago, all my plots are ok and farming on a pool. Do i need to take some actions?
No, your good, leave it be.
So long as your getting rewards as normal, your fine.
There’s a hard fork in June iirc, and everyone needs to be on 1.3 by then, but you are, so no problem.
1 Like
I would update to 1.3.3 because it fixes an SSL vulnerability.
Other than that, if you have no issues then it’s fine. But some people had problems after the upgrade to 1.3.x so that’s why the advise to check some things after the install.
Things like the payout address of the pool changing or the install still using the v1 database.
1 Like
Thanks, my config has the following, no mentions to anything wallet v2
database_path: wallet/db/blockchain_wallet_v1_CHALLENGE_KEY.sqlite
I don’t even see the above file in the wallet DB folder?? And the above seems to be the only reference to the location of the wallet DB, so in usual Chia fashion I’m rather confused.
Edit. So I closed Chia, made sure it was really closed, which it wasn’t, closed the rouge processes, backed up the wallet folder, deleted everything except the peers, restarted Chia. All good, wallet synced in no time, and was a fraction of the size.
Chia price is going down and netspace too, so earnings remain the same. The market cap growth rate is decreasing but still going up. Nothing is surprising me here, we see the same behavior with BTC, ETH, LTC, and other proof of work networks.
What I don’t understand is why you’d want to quit Chia mining after a year because you haven’t gotten your money back. The people quitting are either hobbyist or really unsavy business people.
1 Like
Because for me in UK with a mix of 4-12TB drives the electricity costs more than the earned chia is worth. So cheaper just to buy chia!
2 Likes
One year ago I already said that it is not worth getting small HDDs due to Costs for cables, adapters, HBA, electricity per TB and so on. I got a temp ban for bring negative. 
4 Likes
Depends on how much you paid for the drives and how long you plan on keeping them. I’m going to be running a few experiments on smaller drives to check for failure rates as well on disk spindown, I’ll share results of my experiments here once it’s well underway.
The netspace isn’t dropping quite as much anymore, the node count is though.
Something like 25K nodes in a week.
I guess this was always going to happen and many of us have said it back then with the super hype at the beginning there’s just bound to be a lot of fortune seekers who will bail.
It just makes everything look so bad 
I won’t start worrying until stuff like key members of the team quitting, investors backing out etc. starts happening. In the end though Chia would have been much better off without the initial hype but a steady buildup instead
4 Likes
looks like its stuck on the older db. i would just deleat everything…reboot… launch chia… than let it all re sync. will be easier and safer that way. will only take a couple days to get back up and runnin no problem…
maybe leave behind your wallet peers if your fond of them.
hope that helps
As per my edit the other day. I closed Chia, deleted the wallet dB files, not the peers and started Chia again, all good, no problems and no need to restart - just use process explorer to make sure Chia has exited all processes before doing anything.
1 Like