So Netspace growth has slowed down or even plateaued a little. This goes hand in hand with the market being flooded with second hand/failed chia farms. Prices of new drives have come back down and second hand ones are cheaper than they have ever been. (at least in my region, Asia)
With the price of Chia so low I doubt there will be many people trying to make a quick buck.
I finished plotting 2 weeks ago, now I will obsereve for another couple of weeks and then try to get some cheap bargains on HDD’s. I was always in this for the long run and never expected a quick ROI.
So once the poolign protocol is out will play at that game too and evaluate again in a year or two.
Just saying, for those who bstill believe in the project and have a long term outlook it is a good time
I’m not seeing too much price drops yet here in Holland. But Asia tends to be ahead, ppl there also got on board earlier.
GPU prices are supposed to be dropping as well, can’t see that in retail yet either, still msrp x2.
I am seeing an increase in second hand high cap hdd’s, especially a lot of shucked drives
The Chia slowdown makes me smile. Each farmer that loses enthusiasm goes through the same stages, that each thinks is unique to them:
- “I’m gonna sell some of my pre-plotted HDDs and make a killing!”
Oh, my plots aren’t worth anything, and buyers only want the drives at pre-Chia prices.
- “That’s OK, I’m going to sell my plotting horsepower and make a killing!”
Oh, everybody else and their dog is also selling plots for cheap.
- “I’m gonna go to the forums/subreddits/discords and post ‘the hard truth’ for others to hear, and tell them why I’m leaving the project”
Oh, netspace is still going up, and ‘Leaving Chia’ posts are common enough they need a daily thread, and nobody cares.
But back on-topic: I’ll also be watching for cheaper drive prices, and for retail to start restocking the 16+18TB drives. It only costs about $10/year to keep a drive full of plots online, and I don’t mind waiting a year to see what happens with the project.
Great advice! Thanks for sharing
I had similar experience back in 2013 mining Litecoin. I burned my 500$ GPU to get 12 LTC, at 2$ at that time. I quited and 4 years later I found that LTC reached 400$.
Crypto investments works better for the long run