Long-Term Plans

I thought it would be good to discuss everyone’s long-term plans for their Chia investment. Whether you decided to just purchase XCH directly, Plot and Farm, or a combination of the two.

My original plan was to plot and farm. But like most of us here, I got way too excited about the Chia Calculator numbers when the netspace was 2.95EiB (see image below). I thought, hey, $2k per month is not bad, I can make an investment here and all will be dandy.

But of course, netspace begins to grow and the XCH price begins to drop. And both of those factors are not changing their trajectories. So, here we are. So I decided to put some money toward directly buying some XCH. I did that a couple times but then I thought … “Just buying XCH, all you get is XCH. If I buy equipment to store plots and farm, I can repurpose that equipment if I ever decide to stop. Or just sell it.” So I decided to expand.

My plan has always been to play this out for 5 years. I just didn’t know how far into it I would invest. Well, now I know. I now have (will have when the equipment arrives) enough room for just over 6000 plots. My current equipment before the new JBOD arrives can hold about 2500 plots. I currently have 1900 plots and add about 100 a day. I am anxiously awaiting the official pools and will join one immediately when they are available. So I will continue to fill my available space. Plot for a pool until I run out of space and then begin to remove my OG plots that are being farmed on Hpool until they are gone.

That’s my plan. What’s yours?

I think it’s all going to $hits. There’s too many unofficial pools new chia forks out of no where forum users at each others throats. All this mess because the devs didn’t plan ahead.
as in a previous post I said I will only farm in a pool with the equipment I have and not invest any more and forget about it on my plex server deleting plots as I fill it up with ahem home video’s

Pretty similar all around, have about 2000 plots, plot at about 70 a day, can go up to about 3000 without buying anything new and am not going to go much higher than 5000 unless things change. May or may not replot for pools, currently solo and am happy enough hovering around a month to win as long as I can.

Once I reach 5000-ish plots will make things as tidy as I can and just wait.

How do you know the devs didn’t plan ahead?

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Lol. They did. But deadline comes suddenly :rofl:

I heard about Chia a while ago, but didn’t realise it was going to be serious or that it was something doable with modest investment. Then I realised it was, I figured I might be too late even then and decided to get some solid kit after trying it out with my laptop and some old hdds.

I’ve been looking for a project and since I can put my servers at my work, for only the cost of electricity (at the moment), I can do this. It wouldn’t work at home.

This means I can learn a bit about servers and disk shelves and so on. I’ve bought all second hand old servers and disks, partly as it’s nice to see this kit used again and partly because I figure I can sell it on for something around what I paid for it, if Chia turns out to be a waste of time, or repurpose it to decentralised paid storage.

I have enjoyed it so far from a technical perspective and this is a good forum. I only have about 130 plots now I have about 100TB of storage to deploy and am aiming for 1000, though will consider increasing this if I find good deals on old drives, but in a pool so I’m not hitting it too hard yet.

I think the netspace rise actually indicates confidence rather than anything else. The world has devoted a serious chunk of space to this. But its a long haul thing, gain some chia now, learn something, hold it and hope it goes somewhere.

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If they did their plans sucks big time… they stopped giving out dates because to me they couldn’t meet their own target or they didn’t explain the targets properly.

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You’re making stuff up at this point without evidence. Please refrain from doing so it is irresponsible.

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Yes, communication is rly terrible from chia.
I dont wanna speculate, why that is.

For me, i’ll be farming as long, as revenue with pools is profitable.
Im gonna buy a used drive here and there, but probably stay under about 100TB.

Crypto-investments have the highest risks, which, for me, says clearly not to invest a lot.

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making what up. this is my opinion

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Coming from ETH, communication from the Chia devs has been amazing. Imagine Vitalik replying to miners individually on a daily basis.

The fact that they’ve made pools hte #1 priority is great for farmers but also bad for Chia holders as it means products that increase XCH values are on pause/slowed.

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Hello,

My plan is just to leave my 3000plots in solo without Hpool or what ever! And we will see in 1 year where I am ! Maybe join some fork why not

They have made pools first priority since begining of april, we are almost in july, that says a lot about dev’s capability, just my point of view.
Also, the help from dev’s or tech supports towards miners is equal to zero, non existent. There are more than 1600 distinct errors/issues with the app (you can search by yourself github and forums), i was able to find only 3 fixes performed by them.

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I’m not sure how many farmers care about XCH, long-term. Chia is software that you can combine with a hardware investment that lets you turn electricity into money. The end goal is fiat in a bank account to help you retire… and they hope farming XCH is a faster was to get that $$$ than other alternatives.

So, the average farmer may have, at best, medium-term plans for Chia. Long-term they will have zero XCH and no involvement with the project.

At least thats the farmers+miners I know. None are in it for the technology. It’s just a means to an end.

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Your point around development is fair, and exposes a risk for Chia… ChiaLisp.
Pooling is created by Chia with ChiaLisp and I believe this is a factor in the delays.

ChiaLisp is a functional language, and those are not widely used.

This is also where long-term comes in. Chia is going to IPO soon (end of year is likely), raising a lot of money. Their last investment round values them at 500 million USD and Venture Capital firms look for 10x their investment because the risks of their investments failing… expect Chia to be a Unicorn when listed.

With the money they will raise at the IPO, they will build out ChiaLisp development.
They want to be like RedHat, making money around opensource.

All of this tells me Chia is a long-term play, if you are farming to make a quick buck then that time was in May when transactions went live.

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Just my opinion but I do not see the IPO happening that quickly. I think the SEC is going to really slow the process down.

I don’t think the SEC will do anything special. The company is not the blockchain. The company owns an asset called XCH (chia coins). When they IPO you are buying stock, not XCH.

Other than the fact that this is an opinion, can you prove he is making it up? If not, you are making things up and it is responsible. You considering censoring him like the mods have done with others?

I have this feeling that very few people will actually join a pool using the new protocol. Why waste the effort, time, hardware, electricity, … to re-plot when a lot of people have joined an existing pool or have a farm large enough to not need to join a pool. I’m not saying no one will re-plot but I don’t think there is going to be a lot of incentive to.

Before too long, nobody will have a farm large enough to solo farm. But I have listed the benefits many times in other posts that make it very clear why people will be joining the new pools.

  • You get a .25 XCH bonus directly to you when you are the one that won the block for the pool. The other 1.75 XCH goes to the pool for distribution and you get your cut from that as well. This benefit alone is worth replotting.

  • The other reason is cheaters. The current unofficial pools are full of cheaters and there is no way to fix it. None. Without information provided by Chia, which does not exist, there is no way to fix the cheating that is going on and every member is paying for that in lost profit. The new protocol fixes that.

And then there is the fact that I bet once the new protocol is out that most (if not all) of the current pools will have new versions of their pools on the new protocol. It will be just a matter of time before it is obvious that the new version is better.

The rest I agree with but I’m not sure this part is really a benefit. I mean in the long run it just equals out because it also means that you get only 87,5% of what the others in the pool are bringing in.
It’s nice psychologically but it shouldn’t matter much in terms of earnings

But you are leaving out the fact that the current pools are robbing you of that difference in their over-the-top hidden fees. The new pools will have their fees public and very easy to check. Some even offer zero fees if you join within a certain period (for life).

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