I started farming soon after Chia became public when it was still over $1200. I quickly learned a lot about Chia farming.
Not long thereafter I started to learn about what a pre-farm was. Then I learned about IPOs that never appear and “partners” like the World bank and many others that were never real. I learned what happens as a coin sells its pre-farm and does not do an IPO or find funding.
I learned that the smart people had looked at the pre-farm and saw this as a probable scam to be avoided from day one.
I learned that I was a rube and I learned that my greed had led me into a venture that was far too unreliable to invest in.
Fortunately I got out when Chia was still above $60 and only lost about $3000 after selling what I could. Who knows how many hours of my time I lost.
What did I learn from farming Chia?
- If it looks too good to be true, it probably is!
- If I don’t understand the underlying fundamentals then stay away. Being smart and knowing a lot about computers was not enough.
- Don’t farm Chia.
