i feel like the small farmers in India ( the real farmers working the fields ) it looks like people will end up spending thousands and still not get guaranteed anything back i bought a gaming pc with an rtx 3060ti and just because it had a that card in their i was making money straight off (when not gaming). but chia seems to be made for people with the big bux who end up walking over us small farmers… sorry for the rant just it sounded great a few weeks ago now not so much
Never any guarantees with crypto. Doesn’t seem much different than the other coins, in that regard. Instead of “proof of work” it’s “proof of space”, but of course those with more space are going to eat the rewards. At some point there will be pools, so people without much space can still share in the rewards without having to win a block. I’ve made quite a large investment and haven’t won anything yet, but I’m optimistic.
Well we can only hope we get lucky and win blocks but just thinking of re-plotting new farms to join a pool (or buying more hdd’s) kinds of leaves a sour taste in the mouth…
I guess I’m more upset about all this because i for some reason thought my unused hdd space can make me extra cash and its greener ( i believe it will cause more e waste with dead ssd’s )
oh well hope my farms gets something sooner rather than later to lift my spirit or maybe not cut out to be a farmer
well, in theory, it will make you extra cash. No one said it’d be a lot of extra cash. The notion of chia definitely seemed good about “just use your spare space” but the reality of everyone just building out HDD rigs does have me wondering if it’ll work out.
Pools are probably going to be the only way to get small time folks involve to keep this more distributed, but I’m not entirely convinced we don’t end up in the same problem w/ bitcoin mining in regards to resource control.
According to chiaexplorer.com there is a single user winning 28% of all blocks now (over a moving window of the last 10,000 blocks). When I started watching a few days ago this user was winning 22% and has been steadily increasing. Is anything known about this user? Do they really have 270+ PiB of storage or is there another explanation for their success?
It’s a “pool” in China composed of thousands of users. I put “pool” in quotes because you have to give them your seed phrase to join and they could easily not pay out what they’re supposed to. Definitely not recommended.
Long run I don’t think it’s an issue. Real pools are just around the corner.
I think they are the ones at hpool with ~280 PB
Lol, no you don’t feel like the small farmers in India