If your faith in Chia strong, it's time to buy some

If your faith in Chia is strong, it’s time to buy some xch.
Mining and letting your gears spin non-stop may not cover the power bill.

Uhm, how strong it has to be? We have already plunked thousands in HDs and plotters, and constantly struggle with primitive software that has debugging logs as UI.


As strong as this type of guys who say: “I have 10TB of HDD, I know that I will win nothing but I let it run to support the project.”

That’s exactly my point. I have my farm humming until those Seagate HDs will be driven to the ground. However, my strength is not really on the level to purchase XCH or more drives.

I have spent about £7k on hardware (plotting away and currently have 1900+ plots).
I have spent £3k on 18 XCH which are now worth £2k.
I will buy more XCH when I think the bottom has been reached. When is that though?


Keep me in the loop, as I will follow in your footsteps :slight_smile: As they say, strength is in numbers.


It depends on how fast new features and innovations are implemented to Chia blockchain network.
If you would like higher value of Chia, it should be possible to be used for much more than farming.
Check this out.

“Price is what you pay. Value is what you get.”
― Warren Buffett

Chia will become valuable for many people if the features in the roadmap become part of the network.

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Are you suggesting that we (farmers) should start learning Python, and help Chia company to continue to hire entry level software engineers, give them no training, and ignore end-user requests for fixes, as that is a much better value proposition for them?

Yes, it will also become more valuable when more farmers are happy and will stick with the project, and new ones will be joining the club.

I do understand the value of those projects you pointed. However, I don’t respect the business model Chia company is using by disrespecting us (farmers). You can have all those beautiful slide decks, but if you are not giving ETAs when bugs are found, it doesn’t boost the confidence in those slides.

One simple thing they could do is to pay in XCH to those developers that help them (your code is ingested on github, you get some XCH). That premined XCH could/should be used exactly in such manner, as it will cost zilch Chia corp, make no dent in XCH value, and would incentivize people to move this project forward.

Another is that they could give some premined XCH to projects that already exists (even, let us farmers vote which one should be included, just to make it more fun). At the moment, it looks like owners of at least PSChiaPlotter and ChiaDog got frustrated, and abandoned their products, but actually a lot of us are using their code. Those are really passionate developers that helped many of us. There is no reason to not be generous with that premined XCH.


My opinion…there will be no good time ever to buy Chia, it will never rise, cos this is a shit project, copied, full of bugs, 21 millions premined, etc. And even if the chance 0.0000000000001% that this coin will rise in the future, that rise will be stopped by Cohen selling his coins. For me Chia farming is the worse investment i have made in my life until now


So yeah, we have a problem!

I don’t think that is the case. That premined XCH is a bit tricky. On the paper, even right now it has rather big value. Potentially, can be used in small chunks to pay developers/consultants, to avoid getting money from investors and at the same time further the project. On the other hand, if it would be just dumped, then as you suggested, it will kill XCH, without bringing much to the owners. So, maybe that is not really the issue on hand.


Ethereum had 72m genesis coins i.e. pre-mined. There are now 118m coins in total.

Ripple, Cardano, Stellar, NEM and IOTA are all pre-mined too.


If you include those projects that tanked, there may be no correlation there. It is a bit of luck, a bit of execution.


better xch in dip right now because the nature of coin is just still a baby

poeple who complain about price maybe a new player who rush to get profit ASAP to get ROI
they think they can take profit daily now even think what this coin use for the futures

lets make a good strong community not fight each other
if you strong in XCH make a positive community
if you not beleive in XCH go out and buy another coin
talk shit and FUD is useless


Premine is just too big and there was no fair start - there were people that were plotting FROM MONTHS before mainnet started.
Prepare for a new low, ~15 usd is still higher price than mr. Hoffman imagined before the main net.

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… your thought is rosy, but…

If you take a look at the biggest coin spender/seller on the Chia blockchaine, you are zoomed-in on the name of Chia.

On Chia Explorer {before}: Top farmer, Top spender, … (the biggest coin spender, by far, was Chia).
On Chia Explorer {now}: Top farmer, {Top spender is removed}…


I have 6000 plots farming and buy $350 worth of XCH each payday (every two weeks). I’ve been doing this for months. I also have $10k sitting and waiting for the drop below $100/XCH ($3500 of it currently sitting in USDT just in case it drops there now). I may be a fool, that’s fine, but I really do believe in this project. I’ll know in about 5 years.


I think there is a lot of truth in this statement. What is the rationale that the value of Chia right now should be $150? There is none. There is no real-world use case for Chia right now. In my opinion, the value of Chia in the past was manipulated to be high. The true value of one XCH is probably more in the direction of $15, $1.50 or $0.15. And that is what we are seeing. The value can only be kept high for so long. Eventually, it will move closer to its true value. Once Chia is being used for more than pure speculation the picture will change but until then the coin is totally overpriced.

You can look at that number from a different angle. In order for farming to be profitable, the wins need to cover HW costs, plus bring you some extra. Assuming that your cost are just HDs, and the price per 1TB is $20, plus your warranty 2 years (thus those HDs will fail right after that), you must get back at least $20 within those 2 years. That implies that your estimated win based on that 1TB should be 4 years (you get 2x XCH per win at $20), where the current estimate is ~22 years. So, no that $15 will not cut. Does that make sense?

It’s a free market, it’s worth what the buyer will pay.

Everyone has an opinion but I doubt yours is correct.
To me, there were few coins and high demand, just like when zcash launched.

Where exactly are you seeing this, ill buy!