There have been a few polls online regarding people’s plans on pooling and farming Chia. Recently, there have been a few updates, namely the delay of pooling, which made me wonder if this has affected your future plans?
I have personally started considering to return some of my external HDDs. I have finished plotting my 65 TBs and have been happily and successfully farming with them, first solo, and now for the past weeks in Hpool. My daily income has decreased steadily from 0.04 to 0.028 XCH per day, and is still very profitable, earning around 20 USD per day with external HDDs that cost around the same as a single RTX 3070 (that mines maybe 6 bucks a day). So, the project has been already profitable for me.
I can still return most of my HDDs and get a full refund, which would be a solid thousand bucks immediately. I can actually do this still for the next 2 weeks, which is pretty much the time period when Chia is still extremely profitable. Since I am dealing with external HDDs, returning a few smaller, 6TB drives would also clean up my shelf quite a bit - plus I will never need that many externals anyway for personal usage.
The other option would be to leave the system running. Not sure what is the energy consumption of 10 external HDDs but I’d assume that the profitability would rely mainly on the future success of the project.
With the settings seen below, Chia would grow during the summer to around 40-70 EiB, after which it would grow steadily towards 200 EiB during the next 12 months. As can be seen from the graph, for 1 TB, a significant portion of the income during the next year (or 5 years) will be earned during the next 30 days. However, on the other hand, if XCH doesn’t lose its momentum (which depends a lot on the management, the momentum of cryptos in general, as well as the listings of XCH + its price development), one would still be earning a dollar per day with 65 TB in 2023, which is a nice 0,08 % daily dividend on the original investment, and a 30 % yearly dividend, which is insanely great amount compared to most other means of investing. Not sure how long the external HDDs will survive, so I’d consider them somewhat worthless after a few years of full time activity.
A lot of people talk about “weak hands” and “doing crypto wrong” if one considers “giving up” but I think it is definitely worth considering the potential (which is almost completely unknown), the risks (which are relatively big and unpredictable), and the expected ROI. After all, it makes no sense to farm unless the profitability is positive. With the current development, I am not completely sure this will be the case in the future. After all, although I prefer mining instead of trading cryptos, at some point it might make more sense to just buy XCH instead of farm it.
So, how do you see the situation?