I think its important to not forget and learn from the past, and I feel like there is some paradox of time that we are in currently with HDD prices back to normal. It feels like a good point in time to revisit the fomo of the past that led to static state analysis of the situation and told a much different story for so many farmers at the ~275/USD/XCH price point vs the 75/USD/XCH price point.
I really wanted to talk about something I feel is common but not talked about, Chia farms that were bought at very high prices
Conspiracy theory time: it was Seagate who pumped up the mainnet release price
I’m putting my receipts in to the tax man, since I’ve made a big loss (so far). I will get the cost of those overpriced (they weren’t really as I bought only ex-data centre used HDDs) drives and servers counted against my profit from other activities.
I am quite happy on the flip side to pay tax on my Chia if I cash it in for millions one day (unlikely).
In the excitement, a year ago, I definitely overpaid for my drives. But at the time, what can you do? I went into this with a 5 year plan. So in the end, it won’t matter (in my opinion). But time will tell.
I think my average price per TB is £14, so not too bad there. My biggest mistake was plotting hardware, lost quite a bit there on NVME drives. Bought a Dell T5810 and ended up with an E5-2699v3 18 cores and 256GB of ram, and a raid 0 array of 4 X 200GB Intel S3710 drives. Then recently I bought a cheap bare bones Dell T7910, which led to another matching CPU and another 256GB ram. At least the only thing I can expand now is the raid 0 array, which can go up to 8 drives, but I’ll keep one bay empty for plotting to SAS drives. I’ve rather enjoyed seeing how quick I can plot, hence the recent upgrades, but the Dell T7910 is worth far more than the sum of its parts.
I could increase ram to 1TB but that would be far too expensive, requiring 64GB sticks.
A person needs to ask this question. Am I here to farm XCH or USD?
If you believe in the long term success of the Chia Network, then it’s easy to sit back and farm what in the future will be hundreds or thousands of USD/XCH/day. For me that means bagging as much XCH that I can now while it is extremely undervalued. I’m farming, buying, and converting mined ETH. Bag now, bag often.
If you don’t believe in Chia long term, then sell your drives and cut your losses.
Cheap crypto miner: says love your message
I mean if they pulled this off lol and also props
This is the way (plus some more characters)
“Plotter rich” is what I have been thinking of to describe this.
made a rule at the start of chia that 10$ / tb is the max I would pay. period.
putting every tb per dollar and what that would be worth and how fast the return…
I reckoned the best price/ drive health/ tb. was 4 tb sas/sata drives.
Wich can be had for about 30$ second hand
the hard part , for me, is how to get more and more drives spinning, cheaply as possible.
I was tipped on chia “earlish” and came into a bunch of pci sata raid cards for free… 12 ports on each…
I purchased nothing new.
if the price of chia would just go up…
I did alright I think.
not disappointed my box on wheels that makes a lil money. with earning tho, I do re invest and replace a 4tb with a 10tb.
I don’t want to pay more for electricity than I have to at 11cents / kwh
are these 4tb drives 3.5’’ or 2.5’’
the 2.5’’ use crazy little energy and would be worthwile with smaller capacities I guess. but I havent found any with more than 4tb
At chias current price. I’m probably loosing money daily.
But I truly feel chia will take us all to the moon one day…
Never give up
I think you are right. thanks for your post