Is there any reason to continue Chia?

I’m trying to spark lively debate and discussion. Is it worth continuing farming Chia or should I sell it all and try and break even?

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Excellent question. Actually the elephant in the room type of question. An yet no one knows.

Certainly blockchains are not going to disappear, now or in the future. But as to which blockchains survive the current meltdown, is anyone’s guess. So I won’t bother. Just pick your favorite straw and wait and see what the future holds.

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I think if you divorce investment (HODLing) from income (miner/farmer outlook) it’s a safer bet. If you sell what you farm there is no guessing - you either are or are not covering your power costs and making a dent in paying off gear.

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You just need to see what mapleman has to say about the next blockchain going to mainnet soon…

Costs minimal to run every month… So if you don’t need your investment back immediately, then take the hit for small electric bill every month, or use chia earned to pay the electric

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Sell low, and buy somewhere high :slight_smile: I heard Bitcoin has reached the bottom :slight_smile:

Serious do whatever you think is right.

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“Bitcoin miner capitulation” could happen to chia - a death spiral where everyone farming gives up, sells up and tries to cash out their xch, driving it towards zero

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What is Chia? The promise of tomorrow. That’s fine and dandy. But you cannot dispute the fact that every coin is down but Chia held and has held at $30. I know it’s not actually at $30. So to me it’s a fake value of sorts. But more than that? I would be asking myself, what can I get for X piece of hardware. Then I would ask how long it would take to farm that much Chia. The smart business choice is to make money now. Making money for a future payoff is what dreams are made of. That BTC moment. A second time. But this time with Chia. It’s a lovely fantasyland. I think the reality is, the value in coins you have right now is worth far less because of what I first said. It’s not a real $30 value. I want Chia to succeed. However, when I see my hardware as an asset? Then it’s Chia revenue vs. hardware revenue. I’m not hodling hardware now. Selling hardware wins the business argument time and time again. It’s actually the smart play. For me at least. Chia doesn’t owe me anything and I owe it nothing. Crypto value is largely built on hope. Chia has real plans. But you can’t wish it to succeed. It might. But what I know is that my hardware is worth real $$$ today.

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Yeah, this is a point worth thinking about

If I sell my 22 12TB hdd’s and the rest of the stuff, how much will I get?

I recon somewhere around 4000. That would buy me about 140 Chia today. At the current netspace, that amount will take me 4 years to farm. Counting electricity cost, make that 8 years.

If I just sell all the hardware and the all my Chia now, I’m about break-even I recon.

In any case, I have stopped caring about it myself. I want to be a farmer, spent too much time and effort (and fun) to get it set up, and unless it actually starts running at a loss, I will keep farming.

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Sounds like capitalism, no? Incur debt in hopes of, one fine day, paying it back and making a profit. We know how that turns out for a lots of businesses > :dog2: :poop: But some do turn into > :1st_place_medal: & :moneybag: over :hourglass_flowing_sand:. So keep :pray: ing

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Scale down the farm, sell half of your capacity and buy XCH with the money you get. Best risk management approach I can find.

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I think it depends on your situation. If you’re spending at a hobby level for your income, wouldn’t it be best to hold? Of course, anyone farming chia for business is in a tough situation, and I feel bad for anyone that has gotten themselves in that situation.

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I don’t know if there’s much good reason for quitting either, I’ll end up with a loss seeing I won’t even recover half what I spent, so may as well just see where it goes.
If the price drops and stays below $1 then I’ll admit It’s dead, till then there’s always a chance Chia will hold its own.

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The price can’t get to $1 because it’s artificially at $30 and likely can resist going lower. No reason to believe it’s going up and down naturally and $30 is quite clearly the bar.

What evidence do you have that anything is artificial about the price of XCH?

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Brains. I use brains. Why would 1 coin remain steady at a certain price when every other coin on earth has been going down? Every market dump, Chia climbs the coin rankings. Like clockwork. Why? Because by some miracle it’s holding at a set price whereas the entire coin market falls. Chia climbs (holds steady) while the rest collapse in terms of coin rankings. It’s artificial behavior. You can believe whatever you want to believe. No matter to me. But…if people are basing business decisions on farming Chia on the market value? That’s a mistake. Again you can believe whatever you want to believe. I do not believe that Chia is at a $30 value right now and I base my decisions on that very basis. Not that I don’t believe in the Chia project. I do. If one will survive, it’s XCH. However, you might start asking at what point do the people involved with Chia start to get restless. Talk is just talk. All our plots are going to be bad because new plotting will allow for more plots per drive. So OGs take yet another hit. Replot and pay for hydro and extra wear and tear? Or is plotting 2.0 going to be an exit point for a lot of farmers?

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Many possible reasons.

Surely

Can come up with some.

There are many ways to view things, perspectives.

If the price holds its not artificial now is it! Its real ity.

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It’s as fake as F. You can cite a lot of other examples where a coin/commodity remains flat, steady, no fluctuation in the midst of a volatile and bear market like never seen before? Find me a stock that stays flat. They all rise, they all fail. When one just appears stuck? Well draw your own conclusions. I’m not wasting any more time responding to apologists. None of Chia’s announcements have done anything to its value in the past 1+ years. The only way it really moves is when the entire crypto space starts to move up. Unless Chia does something out of the ordinary, it will just be. POW is funny. It’s like all we are mining is fools gold at this point. Yes, sure, it’s possible this fools gold will turn into gold in the future. This could happen unlike real fools gold. But you can talk all day about what you have mined but in reality it’s not worth what you think it is. It has a long way to go before it starts turning into actual gold. The longer it goes the less confident I become. Everyone can make their own choices. How will it feel when you realize your drives are at a 30% reduction in revenue unless you replot? That day is coming soon. Further, the forum has never been so dead. Lack of interest is a valuable indicator that I look at. Coverage and forum participation is a real tell tale. Of course Bram’s poker could be a game changer but who knows. For me it really comes down to what their expectations were when it comes to seeing value increases. They will be enthusiastic in year 3 when it’s still at $30? I’m not saying that our drives will go to waste. I’m sure someone will find a similar POW that makes use of storage. Flux has something already. But promise me again, and promise me that. And promise me this.

Lol, not fools gold at all when it is easily exchanged for 30 bucks.

Its a 30 dollar coin for now, even held through harsh market situation.

To many that is a success.

But you keep dispersing your negativity and doubts.
Not bought enough cheap used gear yet or what?

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Two Hundred Sixty-Three words later… “And promise me this.”

____Yes, please do, lol!