Is XCH dying, XCH price is $135 now

Chia Farming & Harvesting
21

Absolutely hilarious.

For the first time since the early days XCH is up over BTC, Ether, and the USD over the last 30 days.

Think about two years and longer, not two days.

I’m worried that in two years we will see many or most non bank owned crypto currencies severely regulated or banned in many countries.

I have expressed my reservations about Chia’s partnership with the World Bank, but this may be Chia’s saving grace. If Chia successfully integrates themselves into the banking system they will probably avoid being regulated out of existence.

As a result of this, Chia may be one of the only coins standing 5 years from now.

12 Likes
22

well said. Thank you @Aspy68

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I completely agree with @Aspy68 and others that Chia has a better chance of a long term genuine use case than most cryptos.

99% of coins were never designed to do anything other than hopefully moon and make its passengers rich. Chia was not only designed for a lot of real use cases, its designers make it clear that they are focused entirely on those use cases of the blockchain, and not on the mooning of its coin. The coin is secondary, and almost exists only to compensate the farmers for keeping the blockchain running.

But here is the interesting part: The fact that Chia has substance is a big reason why its coin DOESN’T moon like other cryptos. It’s NOT the other way around, as might seem intuitive. The LESS substance (intrinsic value) an asset has, the easier it is to manipulate, and the more likely it is to moon. Hypecoins moon. Stocks of internet companies that barely existed, and certainly would never make a profit, mooned back in the 1990s. Tulip bulbs mooned back in 1620-30s. They all have/had little or no substance, little or no intrinsic value.

Those seeking those kinds of vehicles should look elsewhere. The more substance Chia develops, the less volatile its coin, and the less chance of an exuberant moon ride.

Another reason is the presence of institutional actors who trade very differently, and who will often use their size to suppress price of an asset they are looking to accumulate.

And that is exactly what we have seen in in XCH in recent weeks: After the big pop in early November, half of which was quickly retraced, we’ve had deliberate and methodical price pressure by some big players for a several weeks. Probably an attempt to push price back down to the 130-136 range, where a lot of accumulation has seemed to take place. I talked about this many weeks ago in another thread.

As it turns out, that campaign MAY have just come to an end: The small pop we’ve seen the last hour up from 132 looks promising: It is a long way back up, with several significant resistance levels above, but as of now it looks like 132-133 would be a fine entry if we get back down there, with a stop below ~128.

But that’s based on charts and order books on a quiet Thanksgiving holiday Sunday. Much can happen the next 24 hours that will change this picture.

But even if XCH has bottomed, I still wouldn’t expect it to just moon, for the reasons I described above. It has substance. It’s NOT just a hot air balloon.

3 Likes
24

One fine day, we farmers may well be making more from gas fees than XCH rewards. So dividends vs. XCH price appreciation could be making your day.

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XCH flip-flops and today is a perfect example. It is up 7.29% in the last eight hours (as of this writing). There is no reason. I believe folks want to keep XCH around $150 and then go from there after the IPO, more announcements on clients as well as exchanges listing it. The world bank deal is really a big deal for the long term. However, will the business leave the technical behind or will they stay joined at the hip? I hope they stay joined at the hip. Time will tell.

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If XCH was meant to moon they’d have made it POS so people would accumulate more instead of POW where people sell off ASAP.

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BTC wasn’t PoS and still mooned, but it took 10 years (and still going). Your reasoning only makes sense in the very very short term.

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Bitcoin was first. And it’s lagged heavily behind others in recent weeks.

29

And buy a VCR factory while you’re at it

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The reason I invest in Chia is my belief that it is the BTC version 3. Its technology is way better than BTC and ETH. It is the future of crypto. For that reason, I care less about XCH price now but 5 - 10 years later. As a matter of fact, current price of $130 may be is the bottom when we look back 5 years from now.

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God this is hard to watch tonight!!!

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Painful to watch indeed :unamused:

34

I hooked mine up to a meter and it said its actually about 6w idle

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Maybe people have moved on to metaverse and DeFi 2.0 related coins/tokens? XCH is a good idea but there are now just too many options in an oversaturated market.

1 Like
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Btw, its down to $124 now

37

Surf the waves and have some fun, it doesn’t have to he doom n gloom :wink:

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“For example, if I assume that there might still be beer in the refrigerator and I check, then I’m basically already doing a preliminary form of science. There’s a big difference from theology. As a rule, assumptions are not verified there. So if I just claim “There’s beer in the refrigerator,” I’m a theologian. If I look, I am a scientist. If I look, find nothing, and still claim there’s beer in it - I’m an esotericist!” (Vince Ebert)

So what kind of person is a Chia Farmer…?

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What kind?

An eternal optimist.

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This comparison is not very good, I don’t think anyone is prettending that the current price of XCH is anything other than what it is.

Trying to figure out the future is an exercise in assumptions, irrespective of what it is (price of XCH, the weather, what you’re eating tomorrow, etc). A Chia Farmer is a person that perhaps makes different assumptions than you.

41

Based on alternative facts…?