XCH every day becomes more difficult to get, logically the rare the gem, the more pricy it has to be. But we see the opposite effect, XCH is constantly dropping.
The market is missing atm, there’s no demand for chia until the market exists
Rare doesn’t necessarily mean valuable, I can make you a one of a kind object that is worthless.
XCH also becomes less rare every day, regardless of the difficulty the same new amount is created.
The price of XCH at the moment is totally speculative, people buying it are buying it on the assumption the price will go up, people selling it are worried the price will drop further. Until there is some use for XCH expect the price to vary wildly.
Eventually I would expect the price to impact the difficulty - i.e. if the coin is worth less people will be less interested in farming it, although that assumes farmers aren’t also speculating.
The crypto market has been taken hostage by a manbaby. I don’t know what’s more pathetic, Elon’s tantrums, or everyone who indulges them.
Simple supply and demand, supply is increasing, not enough demand.
What is the demand in XCH? You cannot buy pizza with it…
Aside from complaints in the popular press about SSD and HD shortages because of Chia, there is no talk, no hype, no interest spoken of. Where are the projects? Where are the developers w/new ideas using XCH? Where is the speculative interest because of all the work being done in this regard (I don’t see any)?
Hopefully I’m just on the outs, but I read/view a lot about crypto, and Chia is absolutely missing in action with everyone talking crypto. Almost any other crypto, many most likely (actually) worthless, get spoken of regularly and repeatedly.
Why is that?
I have a very interesting idea based on smart contracts in PoS&T, but at this point I do no know how to put it into practice… at this stage I got no time to learn chialisp…