Worth investing in a rig?

General Chia Discussion
1

I am trying to way up whether it is worth investing in a 36tb rig.
All in it will cost me around £640, chia calculator says I should earn around 3k/us a month but I am aware it is down to luck and doesn’t really take into account network growth.

What do you think?

2

What people think is irrelevant to be honest. I’ve said this before and I will say it again. This is a raffle/bingo/lottery style system. When you’re buying into one of these then you’re not investing into winning the prizes. You’re merely taking a punt. In this instance, an expensive punt.

What you do with your cash is really up to you but don’t treat it as an investment with an ROI date in mind. Just think of it as buying £640 worth of raffle/bingo/lottery tickets with the added bonus of what appears to be unlimited draw entries.

6 Likes
3

Agreed with @Jikooxie, don’t let anyone tell you it’s a a good investment that will become profitable. Be prepared to lose all the money you put into it. The price could tank to 0 tomorrow plus you might not win any XCH for a long time anyway. If that’s all good with you then go for it. If you want to get rich then you’ll probably be disappointed. :sweat_smile:

2 Likes
4

Some random thoughts others might find useful…

  1. What we’re experiencing right now (read mining profitability) is not the norm.
  2. Crypto is extremely volatile.
  3. Patience… patience… patience… your dreams of a lambo will take time. If you don’t like playing long games then this isn’t going to be for you.
  4. Only invest what you can afford. Family, health, food on the table is more important than this!
  5. Educate yourself before spending your hard earned cash. As an example, go read what Bram Cohen mentioned in his tweets about CHIA and the timeframes for when buying more drives will not be a viable option.

If you’ve considered all the above and then some more and you still want a slice of the pie then by all means go for it but slowly does it… think snow ball effect etc… etc…

Good luck to you all.

4 Likes
5

Thank you for this – can you link to the specific tweets?