Okay, now you’re plotting.
We all had an idea about the growth of Chia, but the increase in the number of farmers and netspace has radically changed the perspective.
We thought we could get a return that, realistically, we will never get: by the law of large numbers, having 50tb or 500tb of space dedicated to Chia changes our chance of getting XCH infinitesimally… and every day it gets worse.
Does it still make sense to talk about investing thousands of euros in SSDs and HDDs? What do you think?
Personally, I think we are giving away the infrastructure that Chia will need to (maybe) create a space for itself in blockchain transactions.
If someone was fighting for a real money gain, regardless of the value of an XCH… I think it is better to bet on something else.
I look forward to your thoughts!
Farming and plotting with current hardware, cool you can give yourself some opportunity to get lucky. No crazy load on the system after plotting. I could see someone who has free space leaving their server idle to generate spare income.
New hardware to plot and store? No way. HDD prices went up. SSD prices went up. A solid plotting machine is going to set you back 2k (including SSDs), and a single high quality one won’t keep up with network growth. Then you have to factor in hard drives… and you need more and more… and you are still in a losing battle.
Long story short, Chia mining on new hardware is silly. You won’t make money unless you mine and hold for many years. And maybe even then Chia won’t be worth anything.
If you believe in Chia you buy the currency and hold it. It’s lower risk than investing $20k+ in hardware to get enough Chia.
Plus, pools are not out yet. And by the time they are your 5950x still won’t be paying for itself or any of the SSDs it will inevitably kill for months, if not years, depending on price of Chia.
I agree, which is why I never invested in buying anything specifically for Chia. Don’t get me wrong, I love playing it as a game, learning, tweaking, like min/max’ing in an RPG, but I have yet to see one convincing argument that shows a financial profit model for mining, irrespective of the scale of your operation btw, as the marginal cost is much higher than the margnal returns at this point.
If you were early to the game and made your gains, good for you. The party is over though.
The actual tweaking of hardware and software is super fun. It’s like tweaking an overclock but the upside isn’t just the satisfaction, it’s free magic internet money. Only reason I’m really into Chia mining.
Yeah, unless you were smart and got in early at launch… there’s no real opportunity to make a big return here, starting now. Pooling will change the game since it requires re-plotting everything, but it’s not like people with petabytes of plots are gonna suddenly pull them off the network.
I want to emphasize this, which I really appreciated:
You’ll carry the skills and knowledge you gain from working with Chia for the rest of your life. That’s the part you should focus on. Am I learning? Am I having fun?
Another note - you can also use the same equipment (depending on your connectivity) to mine other storage protocols that actually store things (storj, sia, etc). That’ll decrease your earning from plots but 1) keep you from being bored, and 2) give you the ability to react pretty quickly if one of them takes off…