when i check price chart i saw chia price almost never raised.
let me provide some information after that we will talk about that.
02.02.2024
btc → around 36.000 usd
eth—> around 2.400 usd
ar → around 7.5 usd
xch—> around 30 usd
i added “ar” because its hard drive coin.
now you already know what current price is.
1- why chia price never raise?
2- chia is going to dead or already dead?
3- do you have any advice for developer team?
I would say the ignorance of marketing. It is like with the indie games. You can make the best game, but it will fail to produce revenue if nobody knows about it. Nobody is talking about Chia. Just type in Chia Network to Youtube and most days you will get zero results if you filter the search to one day. Reddit is pretty dead too. X has more activity, but it seems to be the same small group of people. Compared to all this there is still a lot of XCH farmed and CNI is dumping 50k XCH to market every month too(which was not supposed to happen). Before the excuse was, that Chia is so new. Now we are running over 3 years and it is still quiet. I think something big needs to happen soon or the network space will collapse even more. Many farmers have kept on going because of future gains. I feel the sentiment is starting to shift. Halving and bridge had no effect on the price. Quite the opposite it seems. It is disheartening for people who have been in this for 3 years. I turned off my 0.5PB farmer too after 3 years. I might turn it back on when it gets cold again though.
The Chia team claimed to be better than everybody else. They promised so much.
But in the end didn’t deliver, or delivered late.
The decisions by the Chia team is why Chia is dead.
How do you know its dead?
Can you provide any other indicator that would show the opposite?
@SweetSC did his homework and explained his position, maybe you could try to do the same.
few seconds ago im banned from chia discord again.
nothing changed and probably nothing will change.
they never think project and farmers.
according to bwfree 70 people working for chia and doing nothing except one think they get money in their pocket. thats all.
sorry guys.
I just turned off five 18TB drives because of heat, I still have 242TiB raw farming, I will turn them back on when the temperature drops. But I’m also loosing interest in the project, its cost me a fortune and the XCH I’ve collected over the 3 years or so is constantly dropping in value.
Every month they sell part of the pre-farm. That what they promised they wouldn’t do.
Meanwhile xch price has dropped to 24$ and many farmers operate at a loss.
Now Mr. Hoffman suddenly wants to spend the next year developing a Cloud Service solution.
Do you think after all previous examples this now will be a success?
Kind of a dumb question, but how do you think they pay all employees, etc.?
Looks like they have burned through that $70m VC investment, and no other VC wants to touch them, so they have no choice but to sell XCH to pay for the company upkeep. (That 50k XCH is about $30k / month burn rate per employee, what is quite high for a distributed company.)
I share the same opinion.
I’m a 3PB farmer, who started selling drivers, I sold $10K and if it continues, I will sell everything in the next 6 months, I don’t have more reasons to continue this project if the staff is not doing a good job.
The technology is fantastic, but only that does not hold. A lot of farmers are working on red, high electricity cost, drivers and equipment fail. First, the halving reduces the payment, and now the filter reduction means you need more energy to keep your system running. Another way is you reduce the compression of plots, which for me not make sense, because you will reduce the amount you receive.
In my opinion, if nothing changes in the next at year, it going to collapse.
Hello everyone,
I am a relatively small farmer with approximately 3500 C18 plots. I had stopped farming about three months ago because it wasn’t even covering the electricity costs. Now, after the plot filter change and the associated reduction in netspace, I have reactivated the farm.
With increasing netspace, I will probably stop again, or only farm during the day when my small PV system provides enough power. I am no longer willing to invest more money into the project, such as buying more HDDs or better hardware for more compression. Like many here, I don’t see a future for CHIA unless something fundamental changes, which doesn’t seem likely at the moment. In my opinion, the price of XCH will continue to fall as it has so far. When BTC rises, XCH hardly follows, but it falls even more when BTC declines. Not a good sign. And even if CHIA can rise in price again when the big BTC and crypto hype possibly starts again in the autumn, XCH will hardly double, as too many farmers are just waiting to sell their long-hoarded coins. All in all, not a good outlook, in my opinion.
Yes, I understand they are paying their monthly bills/salaries from the pre-farm.
But it was meant to be for special things, not monthly costs. So what happened it they used up all the VC money. They built technology, but nobody uses it. Just a small project form the World Bank. Or they focused on or created the wrong things. Or too late. Because of these ongoing failures by the team nobody wants to invest in them (and there is also no IPO on the horizon).
So they decided to sell the pre-farm. Which is like the government printing money, adding xch to the circulation, lowering the xch value. Coin owners and farmers are paying the price: the coin value decreases as together we now finance the Chia team’s monthly bills.
After year, we maybe have some alpha Cloud Software. Another piece of technology. And xch will probably be <10$ if nothing else changes.
The Team doesn’t care, as long as the farmers and holders accept the selling of the pre-farm to pay their salaries.
You really believe that a private company that is set to make a buck at all costs will tell the truth and keep that promise?
Again, CNI is a private company and will tell all kind of BS every other day, as long as they feel that it helps them in making profit (or they believe so). Also, don’t forget that VCs lawyers were swooping over them all the time, so even assuming that the whole CNI were just angels, VCs would force them to play by the VC book (scorched earth progress).
What I was trying to say is that the fact that they sell those XCH is the only way for them to not collapse overnight, so even if it is not as you believed it should be it is a lesser evil or a prolonged death. However, this is just a manifestation of underlying problems (part of what you have explained). So, keep your eyes on the ball, don’t get distracted by promises that are either false or cannot be upheld.
Also, I am not disputing your other claims at all as I agree with possibly most of them.
I put so much trust in XCH tech, and money.
All the arguments presented by you make sense and discourage me even more. Even bwfree is selling his farm.
I have 20 PiB raw space C15 NoSSD. Im speachless
Most people which are selling are people they only care about the price. They give a f… about anything else. The same people come back when the price going higher. To make money, you make money while this people are gone and then selling them when they come back.
A lot of people can’t currently even cover electric cost, so they are not making money.
And as for ROI, no chance.
for 8TB/10TB harddrives — no chance to make profit, or to cover electricity.
but for 18TB … It is STILL OK ( C15 NoSSD)
If I replot to C33 … It will be better! it will cover the filter 256
I have a small farm can farm 2 coins a month I use compression level 5. I can easy pay the electric cost. If you have gone for max compression to get as much chia as possible its your wrong miss calculation.
I went with C30, with a 3060, electric isn’t a problem, heat is currently the issue so I took 5 drives offline, which seems to have cured the problem.
I have loads of solar and batteries, so my electric bill is none existent, but there’s still a cost, as less export means less export payments.
My drives range from 16 to 20TB
You are right of course.
I think the new Cloud Solution is also BS talk.
As is the so-called progress with the IPO
Everything to prevent a collapse overnight.
but XCH will continue to go down