What happen to xch price in June 2021?

Hi Guys, anyone can help sharing what happen to chia’s current price like free fall :joy:

Every crypto is falling right now. Probably because:

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Nothing to worry about. China investors have to move their money out of the China. Will probably take a couple of weeks.

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Btc could be down due to the news about the btc ransom from the pipeline being seized.

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Nice sharing broo hehe

This market is bound to floor! If its an Elon Musk rocket, it’s bound to crash! Best believe!

Don’t worry, it will stabilize at about 0.001$, the real price of a crypto that doesn’t do anything and running on the most bugged software ever released (should be written in the Guinness Book) while wasting good resources with no purpose, milked by some hacker pools when the actual plan was to permit the regular consumer to add some scrap hdd’s on the network and decentralize it. It’s fine.

Let me ask you all something, if you were not mining it, but still knew all the flaws of this crypto, how much were you paying for 1XCH? Probably not even the value above. Not even free of charge.

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I forgot to mention, with all the issues above, they (Bram Cohen) have got from the start 21 million CHIA (XCH), while all the farmers mined only 500.000. You can have a prediction from here right away.

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so help me understand why are you still interested in the topic of Chia then?

My friend, this is a topic about why chia price is falling, not why i’m chasing Chia trend.

Interests are of many types positive, inquisitive, critical… It’s really becoming cliché asking “why someone is interested” just for having an alternative point of view…instead of getting defensive, maybe we should try to learn from one another, nobody has perfect knowledge of everything…

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Dude you’re indeed mad. I can just repeat myself over and over again: Cryptos do not exist solely for the purpose that someone can mine it and get rich off it. Thats not why they exist. Do you know that?

Wow, you’ve seen the sun already. It’s exactly what i’m saying, this crypto has no purpose, no scope, doesn’t do anything. You can only mine it and waste some good resources.
I agree with you, crypto’s should do also something else than to be mined. This one doesn’t do ANYTHING

Tydeno, how much money are you able to pay for a crypto that contains a bugged Key generator (exactly like the ones for licenses, game keys, etc) bugged Random generator and some bugged encryption process, but none having a real benefit in real life?
That’s all you see as a consumer and that’s all you pay for, so let me know, how much ?

The question is not how much im able to pay. The question is how much im willing to. I honestly don’t get your points. All I see is someone venting. If you do not believe in chia having a bright future; fine thats a fair point.

But I’m really done with reasoning along like “The small farmers were left out but it was the plan to make it accessible for everyone” / “hpool is bad”.

It maybe was the plan that small farmers could add their storage. They also can, without much knowledge or anything, so it is pretty accessible. But who said that this will yield a lambo in 2 weeks?

It was clear from the beginning that this will turn into some sort of goldrush and that HDDs will vanish from retailers shelves if XCH is listed on the first exchanges. Mainly due to the overall crypto-hype we’ve been seing lately. And if everyone does that, it will become unprofitable very soon. The thing is, it will never be unprofitable for people that did not buy a single piece of Hardware for mining. They can use existing storage that was already paid for and potentially get something back. Genious. Only opex is wear & tear and electricity.

About my willingness of how much I’d pay for 1 XCH right now: Definitely not the current marketprice (I expected opening price max between 1-10$). What It can do is it you ask? You can do transactions and transfer wealth pretty fast. And in some years I believe theres much more chia network will be used for.

I found the news and the way this news was reported very interesting.

Unless…
1 - The hackers gave them the keys or the found the hackers
2 - Physically went to their location had a search warrant and took their computer and found the keys…

Then the government had to break the law and hacked the hackers.

Yes - This forum is becoming quite toxic to those people who are not looking for an echo chamber.

I agree but if there is little to no incentive for small farmers to participate the blockchain will become consolidated to a few large players — that can be controlled. Chia is young, we will see where things go.

This is no different than how POW blockchains work. Yes Chia uses a different mechanism. You can still mine BTC on your CPU with a tiny chance of hitting a block (very very very tiny). No one does because it is not worth the effort. I fear the same will happen with Chia.

I agree - Here is some math. If the Chia company owns 21 million XCH and the company is worth $500 million… Then XCH is worth no more than $23.80 / XCH.

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As to what’s happening to pricing is that the speculated market crash is in full swing, it should eventually and quickly floor… Some more on crackdown :

“Bitcoin falls 50% below peak as selloff resumes”

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Coins were on an exchange when seized.
Well, I read that elsewhere, reading more myself it looksike they probably seized a server that had the pvt key on it.

Daft thing to do with your pvt key, but anon burnt isis coins on the deep Web the same way.

There are really several possibilities that could have happened when XCH started publicly being traded on the exchanges

  1. start high and rise
  2. start high and sink
    a. rebound
    b. sink so low exchanges stop trading for a while or delist
  3. start low and rise
  4. start low and sink lower
    a. rebound
    b. sink so low exchanges stop trading for a while or delist
  5. start high (or low, doesn’t matter in this case) and just plateau and neither rise or sink

When I got into XCH and mining, it was already on the downward, sort of a option 2 or option 4. I assumed (and we all know what that means) that it would rebound but I’ve only been following XCH for a couple of months so it’s too early for me to see anything yet. I have only been in the game farming/plotting for 1 month+. I have no XCH to show for my efforts yet but I am optimistic that if I win something, it will be on the rebound side. But I have to look at it as someone who can see the other side as well, XCH could fall so low that it becomes worthless.