Chia Cryptocurrency

[aemma]

To start with, in my own opinion, Bitcoin do not have any competitors, it is just the best and there is nothing that any coin or project can do about it than trying to be useful themselves in order to keep growing. Ethereum is not a Bitcoin competitor let alone a project which is yet compete with a lot of tougher projects in the crypto space. To be frank I am just hearing about it today, and just like you pointed out, that in order to be ahead of the game, the team needs to bring in something unique and innovative and not the usual copying of other project's ideas.
If the Chia project team want to be useful to their community as well as to the crypto space, they need to offer an outstanding project first, be on good exchanges and continually working on their products and services in order to have a better chance of beating most projects; this is just how the crypto space works and which is why only few projects stays and those who can't handle the challenges dies even though they might have had good ideas.
This also brings us to the this scenario; which is, having a good idea is one step, making it to work is the second step, improving/updating it is the third step, and being able to market it efficiently to larger audience is another; at least with these a team can be on the right track while withstanding challenges.

[subbit]

we accept Chia

[gullu]

I also saw this information. I hope in the coming months its value will increase because I am sure that in the near future Amazon will start to accept payments in chia in crypto legal countries like Australia. Its mining is also quite easy. There is a step by step mining guide in youtube for those who wish to mine chia. At present its really profitable to mine Chia.

[freigeist]

Interesting article regarding Chia.

https://cointelegraph.com/news/chia-network-not-so-green-cpu-mining-reportedly-destroys-ssd-in-weeks

Is that true?
Has anybody of you already plotting
for few months to confirm that issues?!

[Stickycoin1]

My "not so crypto experienced" crypto mining partner, is interested in setting up our old GPU rigs for this coin by getting some HDDs and running it.  We currently run Antminer Z11s and have had them on for 2 solid years.

Those old computers are collecting dust, so we'd only have to invest in SSDHDDs.  I'm on the fence, so I came here to see what it's all about.  I'm interested in more viewpoints from those participating in the thread.

We have a bunch of Xeon based MBs and plenty of SATA drives, not a lot of SSDs.  Might be worth building just to see the plot expectations.  He's pushing me.. I'm just the technical expert, he's got the "megabucks" LOL

Thanks

[TheMimic1]

It's now extremely hard to solve a block mining chia aka plotting in solo mining right now, the only way forward is the release of a pool, also it's still unclear whether solo plots can't be used in pools because I heard a rumour that plots need to be start from scratch if you want to mine on pool

[Trupik]

My "not so crypto experienced" crypto mining partner, is interested in setting up our old GPU rigs for this coin by getting some HDDs and running it.  We currently run Antminer Z11s and have had them on for 2 solid years.

Those old computers are collecting dust, so we'd only have to invest in SSDHDDs.  I'm on the fence, so I came here to see what it's all about.  I'm interested in more viewpoints from those participating in the thread.

We have a bunch of Xeon based MBs and plenty of SATA drives, not a lot of SSDs.  Might be worth building just to see the plot expectations.  He's pushing me.. I'm just the technical expert, he's got the "megabucks" LOL

Thanks

You can plot using regular HDDs, it just takes a bit longer. Plotting one k=32 plot did take 10 hours on my SATA SSD and about 12 hours on regular HDD. I did not try it on NVMe, because I don't have one with sufficient size.
The difference in speed is not worth destroying your SSD (see bellow) in my opinion. Get more HDDs and plot on them all in parallel, one plot per drive - IF you wish to participate in this shamcoin.

Interesting article regarding Chia.

https://cointelegraph.com/news/chia-network-not-so-green-cpu-mining-reportedly-destroys-ssd-in-weeks

Is that true?
Has anybody of you already plotting
for few months to confirm that issues?!

My consumer SATA SSD (Samsung SSD 870 EVO 500GB) purposefully bought and used exclusively for chia plotting is down to 85% of its "Wear_Leveling_Count" S.M.A.R.T. attribute after about 50 or so plots (k=32). That equates to 5 TB of plotted space. I expect about 30 TB of plotted space before this drive will begin to fail. But there are better (and more pricier) SSDs on the market, you should consider them if you want to speed up your crazy train ride (see my answer above).

[Abiky]

I just saw this news:
Amazon Offers Mining in the Cloud for New Chia Cryptocurrency
Amazon rolls out Chia crypto mining solution on AWS
This literally is cloud mining because chia is POC while AWS offers space in the cloud. What do you say guys who are into Chia or interested into it?

Amazon's adoption of Chia will certainly increase the project's public exposure. But I believe this will make the cryptocurrency more centralized over the long term, as companies with big data centers (like Amazon and Google) will dominate the network. The average person will be left out of the game, as it becomes extremely unprofitable to mine Chia with smaller drives. I hope the project's team considers this, in order to make the Blockchain as decentralized as possible. Whenever it'll become a success or a failure in the long run, it's yet to be determined. Price per coin is quite high on the market, but this is not a guarantee that all is going well. Mainstream adoption, active development, and innovation is what matters most for any cryptocurrency project to stand the test of time.

Nonetheless, I believe there are far better cryptocurrency projects which stand among the top ranks in market cap. Projects like Ethereum, Dfinity's "Internet Computer" (ICP), and even Uniswap are faring better than Chia itself. Chia is still a small market cap coin, even with all of the hype surrounding it today. Investors and traders are focused on other big players on the market, leaving Chia behind in the dust. Time will tell us whenever the project will survive or fade away into oblivion as the competition becomes fierce in the crypto/Blockchain space. Just my thoughts

[btc-room101]

I've been toying with Chia for the past two weeks and while the idea sounds okay, the software written in Python is a complete dumpster fire. The version 1.0.4 refuses to connect, corrupts the database, exhausts your RAM, stops working randomly, or creates your "farming plots" with SOMEONE ELSES mining address. Can't believe they got investment for this. Satoshi, while acknowledging he is not a programming expert, wrote better software in his spare time and on his own.

Well guess what post main-net the blockchain still can't sync

The gui doesn't work

The install scripts were not tested on common platforms

Its a sw development management fiasco, who said this team had developed commercial software in the past? Bittorrent was never commercial, it was a 10+ year open-source project

Now the plotting software burn's up NVME drives at the rate of one every two weeks if your plotting 24/7, yep somebody put a lot of effort into this garbage.

[v3liana]

Today i deciding to spend $300 to bought my new ssd and hdd. I believe CHIA will be good investment, right now i still farming with my wooden pc (only 2 plots / day) 

[Trupik]

Its a sw development management fiasco, who said this team had developed commercial software in the past? Bittorrent was never commercial, it was a 10+ year open-source project

Amen to that. See https://github.com/Chia-Network/chia-blockchain/issues... there are 1.1k opened unresolved issues with this software and the list is growing daily.
My dedicated linux box with 3GHz Pentium is currently topped at 100% CPU. Not plotting, just running the full Chia node. I don't consider that green at all. Hell, I've been running full Bitcoin node on much slower early generation Atom PC, causing barely any load, and the Bitcoin network actually have value and does something useful unlike Chia.
This coin is such a Potemkin village.

[anticonformist]

the problem with farming is that it will destroy your SSD after a while.

Quote "Chia is a different animal, though. According to MyDrivers, mining Chia can trash a 512GB in 40 days, while a 1TB SSD lasts twice as long, and a 2TB SSD can give up the ghost in just 160 days, or barely over five months."

https://www.pcgamer.com/chia-mining-can-wreck-a-512gb-ssd-in-as-little-as-6-weeks/

I liked the idea when I first heard about it, but doesn't seem like something that's going to work in the long run?

[casperBGD]

~snip
Nonetheless, I believe there are far better cryptocurrency projects which stand among the top ranks in market cap. Projects like Ethereum, Dfinity's "Internet Computer" (ICP), and even Uniswap are faring better than Chia itself. Chia is still a small market cap coin, even with all of the hype surrounding it today. Investors and traders are focused on other big players on the market, leaving Chia behind in the dust. Time will tell us whenever the project will survive or fade away into oblivion as the competition becomes fierce in the crypto/Blockchain space. Just my thoughts

not so sure about this one, there is no circulating supply indicated on coingecko, but with whole supply and current price, it is a top10 coin by fully diluted capitalization
seems overpriced to me, but one should go by his own analysis prior to investment

how the coins are entering the circulation, is it by mining only and was there any pre-mined coins? did not check whitepaper, but judging on total number of tokens, there is no much space to rise much in the future

[Trupik]

was there any pre-mined coins?

yes, 21 million Chia coins were pre-mined by the corporate entity controlling Chia

[btc-room101]

was there any pre-mined coins?

yes, 21 million Chia coins were pre-mined by the corporate entity controlling Chia

They also said there is no limit. Think about that.

The chia-net team also said their only goal is to go public as an IPO, and be the next Red-Hat, a software support company, and be bought about out by IBM for 10's of BIllions, kid you not right on their video they say this.

These bozo's can't even get the blockchain to sync after 5 years in dev, you think they should have just cut&pasted BTC's blockchain and called it good.

What's the deal with price? It was traded in China since jan 1, 2021 as an IOU, before the my 5,2021 launch, it went up the $1600 USD all be its own as a 'scam coin' on chinese exchange, 100% gambling. Chia-Dev rushed to main-net, but they hadn't test the block-chain, now its a kluster-fuck, no pool

But then a guy in CHINA created a hpool months ago called HPOOL.COM, and it works, and I use I create 16x plots a day, and earn lots of xch, the 'woke' morons who bought the green-feces BS are told "Don't use the chinese hpool, you'll go blind, or shoot your eye out".

Chia is an entire new market for crypto's its targetting the woke-millenials post covid, and they think up is down, and left is right, Chia is the ultimate barometer that crypto has found its last sucker.

[btc-room101]

Interesting article regarding Chia.

https://cointelegraph.com/news/chia-network-not-so-green-cpu-mining-reportedly-destroys-ssd-in-weeks

Is that true?
Has anybody of you already plotting
for few months to confirm that issues?!

I use EVO pro 980's 1TB to plot, I get 100 plots, at 25% warranty of the 600TB, at 150 they die, the controller fails, then it can still be used for sequential, but no longer used for chia plotting.

Drive manufacturers have already announced if you mine, the warranty is VOID. 5yr warranty kaput.

Oh well, even at today's EB (7.4) 100 plots is 1/4 xch/month on hpool.com, so I'm paying for my NVME's

I plot 16x a day, I stay just even steven about 1 xch a month, and have been plotting for months. If you solo mine with chia-net you get zero, unless you have 10k plots.

[In the silence]

This project is gaining attention in altcoins, some are beginning to hoard HDD and SD. I think this will stay, I watch this for almost a month now and the price is skyrocketing! Need to save for this to mine.

[todiefor17]

A hard drive-mined project with smart contract capabilities, it doesn't look any better than Burst coins (https://www.burst-coin.org/) or Conflux (https://confluxnetwork.org/).
The FOMO community for this hard drive mining project also contributes to environmental damage because of increased hard drive production. There will come a day when we will have a surplus of hard drives because of the chia mining activity of miners.

[zasad@]

I have no desire to buy these coins because:
The technology is very old and the transaction speed is slightly higher than in the bitcoin blockchain.
The developers have a lot of coins because they started mining first.
I don’t want to invest in hard drives, but maybe it’s better than buying coins.

[skuripper]

Hello everyone, we invite you to the new centralized pool Chia Ecopool http://ecopool.group, discord https://discord.gg/HT9HKVuV, telegrams https://t.me/chia_social_mining, FAQ on the pool https: // docs. google.com/document/d/1MbzYY_o8XUSaq5R8i-MlV797ejoLkbyOCWm9yjmFGCY. Of the advantages, this is a modified plotter, which is 25% faster than the usual one.