I got an opportunity to get my hands on around 500TB HDD’s.
Testing in the chia calculator suggests that I will “win” at an average of once in two days.
With the coin value itself, it just seems to good to be true.
There’s no way I can make those amount of money. Im just not able to believe it.
What am I missing?
The XCH is to high and probably go down soon?
The network space will grow so fast that by the time I’ll start mining all the data from the calculator will be incorrect?
Will XCH price drop as soon as it will actually start trading on known platforms?
The calculator is telling you what your current win chance is if the drives were already full of plots.
Plotting is a very intense operation. To give you a frame of reference, I’ve been at this for ~1 month, with 8 computers doing various numbers of plots in parallel, and have filled about 135TB. I am now filling 5 or 6 TB per day.
The netspace is also growing at an insane rate. When I started, it was only around 400PB. In that time I have won one block (2 XCH). I had gotten the chance to win down to 5 days before it started going in the opposite direction, now at 8 days.
I think 500TB is a very nice farm size, it’s still early days for chia. No one can answer whether you should though, only you can. Personally I’m long-term on chia, will fill at least 500TB and probably more, and hold everything I get.
Plotting speed will limit you, most are under the hopeful impression XCH value will increase, but no one is confused that winning with your farms will get harder and harder. You have the time take the dive, once the farm is set it is a daily lotto ticket. Also I’m unsure if the calculator is keeping up with rate of growth as you said, so may already be wrong.
If I were you, I would start plotting now not to farm solo but mostly to gain plotting experience. When pools get implemented is when you should start plotting for real.
Like other people have said, don’t calculate as if you have 500TB of plots today.
I’d recommend using the Advanced tab in chiacalculator which allows you to enter initial size of plots and plotting speed. You’d get a better estimation.
P.S. I wouldn’t use the default 15% weekly network growth which is quite a low value currently
What about just buying some XCH?
How do you guys feel about that?
I mean, if this whole chia network be as big as it looks, that coin will prob just increase in value right?
Guessing you’ll make more money, quicker, just selling those drives on Amazon or EBay. The latest prices are sky high. Example, couple weeks ago I could buy 12TB ext drives for $200, now closer to $400. Plotting is fun, but not so easy and it’s time consuming (life consuming?).
