Whilst I cannot answer whether it is worth investing or not at this point I can say, and I stand behind this 100%, that Bram stating that “places that have huge amounts of storage” are not going to start farming Chia on their spare capacity. He’s very, very wrong and I cannot even fathom why he would think that beyond using it as marketing or to fire up the investors.
There might be a few companies out there that do this. There might be quite a few more individuals with a NAS and spare capacity that do this. There might be a few individuals with an external drive or two, or space on their laptop to do this. I can say with some certainty that any company with a million dollars or more of investment in storage used for storing actual data are not going to suddenly decide to farm Chia. And even companies with only $10,000 of storage capacity are not going to suddenly start farming Chia.
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Large non-tech related organization such as a bank or other business would see farming Chia as an operational security problem. And Excel has issues with numbers below a certain threshold it just annoys the accountants.
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Large traditional tech organization such as PayPal (worked there), Facebook (worked for them) or Blizzard (worked there) or Google with more capacity than you can possibly imagine won’t be farming any significant amount of Chia because the amount earned would amount to a rounding error in their quarterly balance sheet. And it would be viewed as an operational security issue. You would get laughed out of the conference room for even suggesting such a thing.
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Mid-sized tech companies of around 100+ people either have capacity but will view farming as not worth the effort to farm or they will be starved for capacity (this is usual) and won’t run the risk of running out of space.
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Individuals with (true and actual) spare capacity on a NAS might do it if the software is smart enough to delete plots on an as-needed basis as the owner attempts to store actual data they care about and the software to earn Chia is stupid simple to install and run in the background without requiring any kind of fiddling around.
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Individuals with spare external drives hooked up to their laptop that will eventually get bored of launching the software or running their laptop 24/7 and the only people who will do this long-term will be a 13-yr old kid because $2/day in extra income is a big deal wheras any functioning adult will be like “fuck that, life is too short.”
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The rest of us who are in to crypto for the learning, lulz and lambos.
The only way any of this will change is if Chia is so stupidly remarkably successful that a single coin is worth a million dollars a piece.
There’s 4,608 chances per day to win coins. Let’s assume I have the capability to win every coin and nobody else even gets a chance. Let’s assume the coin is worth $1,000. I’m a big organization like Facebook. That’s $4,608,000 per day of income from Chia. That’s a rounding error.
There’s 4,608 chances per day to win coins. Let’s assume I have the capability to win every coin and nobody else even gets a chance. Let’s assume the coin is worth $10. I’m a mid-sized organization like that 100+ person start-up you’ve heard of. That’s $46,800 per day of income from Chia. That’s a rounding error.
We know we don’t have the capability to win every coin. We might, with 10PiB of storage (conservatively $500,000 worth of h/w investment, plus operational overhead), win eight coins per day at current netspace which, at any price below $1,000 per XCH, is not worth it.
So XCH is either worth $25 a coin, and you win eight a day with a half-million dollars of investment in which case, any sane and rational person earning a decent 1st world wage will ignore that opportunity or XCH is worth $1,000,000 a coin and that will increase netspace so any company that is capable of earning four coins per day would see $8,000,000 a day as a rounding error.
And it still all comes back to “it’s a very nice idea Mr mid-level engineer but the risk of getting hacked is too great and our customers won’t be very happy if we tell them we cannot store their data.” Bram’s math does not check out.
Edit: Fixed spelling errors and such.