This May 2021 crash is perfect for us IMO

This crash couldn’t have happened at a better time as far as I’m concerned. The get rich quick kids will all bail, our operating costs are extremely low compared to other forms of “mining”, I would think netspace growth will slow dramatically or perhaps even contract a bit. What a great time to be into Chia! Who knows, maybe even HDD prices may return to normal in a few months?

Am I the only one who is excited the market is crashing?


No bro, I am enjoying the crash just as much as you are, ramping up the investment…I want to mine the $0.60 XCH when it floors! Although with the size of this bust I am looking at formation of regulatory bodies outlawing fiat exchange of crypto in the near future ushering in the evolutionary phase of integrating IoT and interchangeability of units as a means to barter for IoT services.

Perhaps they make BTC the central unit of measure, divide it into 10,000 units and make comparative pricing in BTC for others…this fiat for crypto model does not function - fuels bubbles and crashes and destroys savings and livelihood of millions… Let’s hope for the best

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I just commented to someone the other day that I really would like this to drop to $500 or lower. I have already primed my position for growth. So would enjoy a net growth slowdown for a couple months while I fill my farm out.


At $0.60 I’ll be pouring every extra dollar I have into buying XCH! :heart_eyes:

Agreed, at that price, I would just buy. I wouldn’t add anymore money to my farm, just flat out purchase. I would probably start buying around $100/XCH.

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Perhaps by that time they will have removed all ability to exchange crypto for fiat… That’s one of the potential securing outcomes of this crash…after ignoring it for over a decade I started looking into crypto on May 10th, and the graphs looked way way out of proportion…

Chia will drop to $125, when official pool software will start …

because every one will have coins, and every one will SELL…

so say goodbuy to your investment.

free money is not exist.

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If BTC touches 6000 - - - Equivalent XCH is 16 - - - take into consideration further drop in trade volumes 1.6 or lower - - - 0.60 is my TP!

As far as it affects Chia I’m totally with you. Given the fact that I hold many other coins, and some of my liquidity is bound there (which I cannot use to buy drives when prices come back), I’m not really amused tbh :stuck_out_tongue: But it was a question of time until this thing craps. I’m wondering if this crash marks “the bubble bursting” or another “normal” correction in a highly volatile market.

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You need to take the long view in crypto. There are irrational booms followed by a massive retracement, but it always grows. It can take years for the next boom cycle, but it always happens. Next BTC bull run goes to $500k?


Dude corrections dont comprise of 50%+ reductions in 2 days, crashes do, they follow a sell hype worse than the buy hype, as if felling of a house of cards or the domino effect…

Been in crypto since 2012. Believe me when I say I am not worried in the least. There is a cycle. It repeats. The next boom will be even bigger than this one.


Bet BTC settles at 17-20K for quite some time. Next year or two.

Yeh I sold all my PoW stuff (90% ETH) over a month ago, and slightly cringed when it went up 50% in a few weeks.

But I really wanted to ensure I had funds for when my exchange starts to carry XCH so I can buy some. Now I am quite pleased I got out when I did.

It’s a rough one out there today. A lot of people are losing a lot of money.

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@novosti I didn’t flag your post, but I’m glad it got flagged. Read the rules of the forum.

  • Be civil. Don’t post anything that a reasonable person would consider offensive, abusive, or hate speech.

If you don’t like it, move on.


Theres a cycle for the whole economy:

I just somehow regret that I didnt leave the market a week back when I thought about selling off my positions to buy more Chia farming gear :stuck_out_tongue:

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Yeah I didn’t flag it either. I’m not that sensitive. In fact, I’ve been known to be flagged myself from time to time :smirk:

You can still get out tomorrow, there will be a supporting rebound taking the market green in upwards of 10%, just slam that SELL! button and watch from the side lines, you re done playing…for some time now… Hyper-selloff leads to covering short positions leads to confused buying which is a cut your losses short, take what you’re getting and get out type of a window - Tomorrow is the day - All the best!

One more trading predictability for the crypto market is the inability to create a short squeeze - there really isn’t a free-flow of funds to do that so once the signal has been given this market will generally move in one direction - in this case, it is the F L O O R! I sincerely hope that I am wrong…so let’s say you have some cash leftover, you can risk 10% of it and short-sell BTC or ETH when it is green and cover at 35% difference over a 48hour period high low… If that may be of help, but comes with the inherent risk of loosing the seed money…

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I’ve been a GPU miner since 2015. I never stopped. Currently, even after reducing the price of ETH and taking into account the high gas fees (so I discounted this in my model), my operating expenses are 10% of my total revenue. My operating expenses are basically just electricity. I’ve continued mining when my operating expenses where 98%, 99%, 100%, 101%,…105% of my revenue. I’ve mined at a loss because:

  1. It wasn’t worth stopping
  2. I pay my expenses out my own pocket, haven’t sold anything, ever
  3. Buying crypto is easy, but there is a 2-5% fee depending on exchange, so even at 105%, it is basically wash after blockchain fees.

I am fine with a pullback. I prefer lower BTC prices. I prefer lower ETH difficulty. I would like netspace to not grow as quickly.


100% - A lot of Chia people are new to crypto. The sell barrier is high (work to sell). I would guess most chia people don’t have have chia to sell today. As soon as the average chia noob gets .1 XCH @ $1000… they are going to dump. That times 1000 means a big drop in XCH price.