I am starting to believe chia is scam. I am harvesting for almost year with apprx 350 plots and still 0 chia. It caused me $2000 to start + electricity so there is no way I will get it back or make some profit… chia program itself is disaster too… always troubles with synch… so frick of chia!
1 Like
100% a scam.
Are you selling your hard drives 
I will buy them to add to my 400TB farm.
10 Likes
Normally I don’t bother but I’m just gonna say it for a change.
Something that is not (as) profitable (as you thought) is not the same as a scam.
A scam is when someone lures you into something making false promises and then takes your money in a nefarious way.
You can call it a bad project if you believe it to be, but not a scam. In the real world claiming something like that without solid reason would be tantamount to slander.
Chia team, or at least Bram, went out of their way to tell everyone that buying new hardware was not the way to go and would not be very profitable, if at all.
Those of us - like me - who decided the Chia team were wrong about their own product and bought a bunch of new Harddrives anyway, just have to live with our own choices.
In any case I do understand your frustration, however:
350 plots, farming solo is a big ask to win blocks. Joining a pool is the way to go if you ask me if you are under 1000 TiB farm.
I have 2000+ plots (225 TiB). and had a period of 5 months not finding a single block, then 3 blocks in 5 days.
If I wasn’t in a pool, those 5 months not winning anything would have driven me mad.
7 Likes
There are dozens of crypto currencies.
For which of them would $2000 + electricity have yielded acceptable returns?
1 Like
Farming with 350 plots but without a pool, is just a mistake. Sry.
4 Likes
-
You should have joined a pool. With that small of a farm you definitely need to join pooling. You will see some rewards immediately (albeit tiny with 30 tib). I would expect around ~0.70$ per day roughly
-
I wonder what kind of hardware you run. 300 plots seem like 30Tib to me. 2000 for 2 18 tb drives seems very pricy to me. It´s the harddrives which generate money after all, not the plotter.
-
what estimated winning time is shown in your chia client?
2 Likes
Guess that’s what happens if you fail at math…
-Assume profitability will not decrease.
-Spend majority of the money on a plotter.
-Buy overpriced HDDs
-Fail to recognize farming 30 TB solo is pointless.
3 Likes
well, no reason to be so harsh, even if it´s somewhat accurate.
this part does not pose true for me. So far the profitability has been quite stable for me in the past months given shrinking net space while the price fell.
And now the net space falling + increasing prices…
Just matching the tone of the opening post “scam”, “frick off chia”. 
Agree. It has stabilised at an acceptable level and is going up right now. I am fine with the current level, even so I would have preferred to have my money back in less than a year instead of two years. Still considering to expand.
2 Likes
Famous Buffet sayings that apply to Chia project (and many others)>
Price is what you pay. Value is what you get.
Risk comes from not knowing what you are doing.
Be fearful when others are greedy. Be greedy when others are fearful.
2 Likes
I’m very greedy right now but lack the capital to expand further currently 
need to rent another room and buy hardware for ~100k to fill it up 
still far from that 
That’s the reason that I am fearful …
1 Like
Not that I think you’re going to answer, but…
How did you manage to spend US$2000 for less than 40TB of space? Did you buy 40TB of SSDs?
Your post reads like you didn’t do the slightest bit of research or math before wasting your money on something you didn’t understand, probably put your database on a spinning hard drive (maybe even a 5900rpm NAS drive), and expected free money to fall from the sky.
If that’s wrong, educate us.
3 Likes
I wouldn’t have thought hardly anyone is in profit, unless they had their disks virtually for free or were very lucky. The rest of us have to pay retail and the payback time is years away, so kind of the same for everyone.
I don’t even think of it as investment as such, more like a project I want to be part of.
The chia coins are only going to worth as much as the buyers are willing to gamble the market is still expanding, you could have lots of coins farmed that no one wants, which could eventually translate to coin worth so little that no one wants to farm it. Part of the value is in the hardware, which you can use for another application like a cctv server or Nas box, maybe even the next storage coin that comes along.
Even the electricity you get back as heat to help keep your home warm when it cold.
People saying you weren’t meant to buy hardware for this doesn’t sound right either, nobody has 100’s of TB’s of hard drives just lying around spare.
Interesting idea yes. Do I expect it to make me rich very unlikely.
I think the intention was that as many people have computers that are permanently powered on and online, devoting a little of their (spare) hard drive space to the chia network, like you might devote a little spare processor time to world community grid*, would allow you to either earn a small amount (by pooling) or have a stake in earning a bigger win like buying a lottery ticket every week. It’s not a lot of money invested, but the chance of winning is small.
I doubt that it intended for people to invest a lot of money in huge farms and hardware. I am a 300TB farmer and so far I am far below profitability in terms of money. I have learned things, I have heated my home a little, I have hardware I can repurpose or resell if I decide to HODL my XCH and stop farming. I began a small side line in IT resale/recycling. So there have been intangible benefits.
To really make it big in Chia must presently be seen as a gamble because it is, especially now that energy is so much more expensive, contingent on Chia rising in value a lot in the future. So to those who thought it would be a sound investment because XCH was initially much higher in value, I have some sympathy but that is not the case. As with anything to do with cryptocurrency its lack of any solid underpinning (even chia with its 29 EiB of storage underpinning it has no inherent value as that storage is just tables of meaningless data) means it only has the value other people perceive and unless/until it is attached to something tangible in the real world that’s all it will ever have.
I knew this from the start. Of course, I hope one day 1 XCH = $10000 (or more) but it may never achieve this status, as cryptocurrency may never achieve its potential.
*the size of the blockchain DB means that this is not as practical as it appeared, most people do not necessarily want to devote 50-100GB of space to a blockchain to farm 5 plots.
Hi Mugen,
I respectfully have to disagree with you.
I farm ~1100 plots:
- 1000 solo
- 100 in farms
Started back in july last year.
For now I farmed solo 16 XCH and 1.5 in 2 different pools.
I just don’t know why, but with the luck I have… I’m better off farming solo.
I have no mathematical explanation except pure random luck
Anyway still hope the price of chia goes up in the future
Spending 2000 bucks and then Solo Farming with 350 Plots → you forgot to do your homework (polite way of saying “fool”).
Scams always seem to hit the less intelligent part of the population. You prove it once again.
I farm solo with 1800+ plots and got 10 Chia so far. Was offline for a while so not blaming others.
1 Like
Well we’ll well, you should go read my last post…
I was in the same position, but all is not lost, I’m now making 1 chia coin a month by switching my expensive chia rig to a different project…. And that’s after electric costs and a quarter of the electric consumption as chia.
Don’t think chia is a scam, it’s just an expensive and rudderless ship with no direction and dull as dish water management team. There is no excitement, chia should be inclusive to all, but essentially it’s just for the whales.
You’re simply not paying attention which is clear by this statement.
1 Like
I got 3 blocks in three months with 350 plots! I think you have some problems either with your setup, pc speed or your internet? If you do not want to trust on luck, you should enter a pool like I did so🙂
1 Like