what is this -
it this really true.
what is this -
it this really true.
Interesting that you dig up a 9 month old thread from Reddit. Did you read it? What do you think?
Jesus Christ, that’s a 9m old post and there are tons of posts already covering this across several different platforms.
If anybody doesn’t understand such a simple concept as the pre-farm by now, they should not be in crypto.
All the information you require.
There are specific sections in the white paper regarding the Strategic Reserve.
Lots of other coins had pre-mines too. Ethereum, Ripple, Cardano, Stellar etc were all pre-mined.
e.g. Ethereum was 100% pre-mined. They then sold about ~80% of the pre-mine to the public (and to themselves, with no known upper-bound on percentage of the self-sales) and pocketed the proceeds. After that they issued additional coins via mining to the public and diluted their positions but later substantially cut the supply of mining off when the price kept falling.
Etherium started with 0 dollar, so pre-owned can not lead to direct profit. Same is true with all top 100 crypto currency.
I have some very simple question:
How come Chia started with so high value then?
Does not it give better chance to developer or chia network ( or anyone who is paid in terms of pre-owned chia coins- like advertisers, investors, employee or anyone else) to make a scam and exit with profit, while we the farmer left with lot of debt in buying new SSDs and now able to mine anything?
Does not it smell fishy that the price is dipping and pre-mined chia network may ruin over little farmed chia coins? read this article too : Is Chia Farming in the Cloud Profitable?
Why is some predicting that the chia was overhyped with lot of advertisements and it should settle for 13$ price. I still feel something is not good here since lite coin like crypto which are not pre-mined could be better bet for mining than chia.
I have put my SSD for farming chia and was thinking for buying more since past 2 months. But now have lot of doubts.
LTC seems to be better as it is not pre-mined and gives good return…
Please don’t feel I have any like or dislike for any particular crypto… these are general question for any new farmer… if you can solve my doubts… lot of others like me who want to focus effort will be interested in Chia…
1/ Forget what you think you know. The pre-farm is NOT held by developers or directors of [@chia_project](https://twitter.com/chia_project) . It is NOT going to be sold or "dumped" on the market.
then why have it?
2/ So what is the [$xch](https://twitter.com/search?q=%24xch&src=cashtag_click) pre-farm going to be used for? Mostly lent to institutions who have a short-term need for large amounts of [$xch](https://twitter.com/search?q=%24xch&src=cashtag_click)
So, it means our farm chia coin value will not increase if any institution wants to buy the Chia coins, Chia network will directly give it and earn profit.
3/ What does lending [$xch](https://twitter.com/search?q=%24xch&src=cashtag_click) do to the price? Well if the interest rate on the loan is not negative it would result in UPWARDS pressure because they would need to pay back more than they borrowed. This is likely an end-game scenario when mass-adoption is realised.
sorry could not understand it and can not comment. Do they mean the institution have to give back the interest in terms of Chia coins and they have to buy it from us the farmers? How significant that amount will be?
4/ Additionally [@chia_project](https://twitter.com/chia_project) may use the [$xch](https://twitter.com/search?q=%24xch&src=cashtag_click) pre-farm to fund promising projects and incentivise farmers, increasing the security of the network.
then why would someone buy it from us? How will we make money with farming?
5/ None of this is happening until [@chia_project](https://twitter.com/chia_project) has filed to go public. Until then they are sitting on the pre-farm and dogfooding custody controls that can later be used by other institutions.
Last time Chia Network was suppose to public soon. Until this is next 3 years, when we are able to make some money out of Chia coins… how this is good for us?
6/ Finally and perhaps most interesting. When [@chia_project](https://twitter.com/chia_project) goes public you can buy the stock. This is similar to buying a slice of the pre-farm, plus benefiting from revenue generated by the company, plus they may distribute the pre-farm to investors as dividends!
Will it appreciate my farmed Chia coins? I still have doubts?
If Chia Network goes public in next few months and can use there pre-farmed coins… how will it help us the farmers?
Do not farm with SSD!
5 GH/s of litecoin cost is?
Ethereum was 100% pre-mined.
Are you selling your HDDs
why Chia artificially inflated crypto and Chia coins are worth a 20$ now.
20$ MATH - Chia network reserve is 21M chia coins. It helps Chia network to acquire big evaluation - 60M$ funding with 500M$ evaluation. assuming the chia coin value is 20$ evaluated by investors, reserve will be - 21M * 20$ = 420M$ , and 80M$ for Big Name like Bram Cohen is a good bet. Hence the Math is working fine for 500M$ evaluation.
AIM of chia network - artificial Inflation - After reaching to half mark of unicorn valuation, Chia network has 60M$ to update the software and fill the security cracks or updates. But they don’t need to pay in dollars. Pay everyone in Chia coins and try to inflate this with the acquired 60M$. But these type of artificial inflation does not work for long time.
Either not decentralized or not secure - out of last 10000 rewards, 3556 is owned by single entity. So, close to 35% is owned by someone ( big investor/company ) I guess. This is not good decentralization. And a big candidate for Double Spending Attacks. If this grows more, then everyone of us are more prone to security risk or centralization of Chia coins.
Small farmer quiting - With estimated 180 plot your chance of wining is once in a year as per https://chiacalculator.com . So, Total income - 11$/month (estimating Chia coin = 74$) . total 5 years - 660$, total spending - 2.5K$ . a big loss for small farmer like us. So, soon many of us will quit until this is artificially inflated by Bram to 740$ which does not seems the case.
Best option - Shorting the coin to 20$ and Buy it to make money. Farming does not seems to be profitable any longer for small farmer.
Some old comment by huntingground -
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?
Please short chia coins as your £3k on 18 XCH is now £1k - buy it back when its 20$. I am at least doing it.
What will you do with my SSD, as you are already plotting with 1900+ plots
Thank you for the mention. I have always made it clear that this is a 3-5 year investment for me so I will update then.
I will have at least 140 XCH at first halving (at current net space estimates and size of my farm currently), mostly farmed although I have bought some as you state.
I have 3700+ plots and will be adding more in due course. I will also be purchasing more XCH.
I suggest we will all know whether our XCH investment strategies have proven to be solid or not by then.
The big farmer you’re listing is probably a pool, I am guessing Hpool, although I haven’t bothered looking. Do more homework.
Also, why are you here? I mean obviously to try to crash Chia, but to what end?