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Author Topic: CHIA XCH mining: Why mining without value?  (Read 2626 times)
DieZar
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April 20, 2021, 04:26:24 PM
 #1

Hi, I'm interesting to Chia project. After some reads the question is:
Chia is not listed anywhere so, if I use a new hardware and I'll mine for 1 year and I'll win 5 XCH for example, how much will I have in return? If it will cost 0,50$ for XCH, everyone with 2,5$ can buy the same?
Is there something that miners will obtain for their efforts, advantages on who will buy on an exchange?
This is my dubt, why should I mine? Why should I support Chia if I don't know how much it will return to me?
Thanks
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FloridaKid
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April 20, 2021, 04:36:24 PM
 #2

Ive read about this coin online through one crypto news source, it says that ssd drives will become scarce if this project becomes successful because my people from china are so into this coin right now buying ssd space to mine the coin, sounds like proof of capacity to me

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April 20, 2021, 05:00:14 PM
 #3

Because whenever uncertainty is the greatest is exactly when the greatest gains are made if the project is ultimately successful. To some people the risk is worth it.
TheMimic1
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April 20, 2021, 05:04:32 PM
 #4

If the coin failed then the miners are in big losses because they buy expensive ssd to mine the coin, I'd rather jump into any new coins to mine if they already listed on exchange, there is no guarantee that it's ever going to happen, too risky

DieZar
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April 20, 2021, 05:10:54 PM
 #5

If the coin failed then the miners are in big losses because they buy expensive ssd to mine the coin, I'd rather jump into any new coins to mine if they already listed on exchange, there is no guarantee that it's ever going to happen, too risky

OK but I don't understand why should I mine it if there is not a value for now. There is the possibility that I mine for long time to obtain some XCH and once the will list it on exchange it will cost few cent. Probably I missed a part of logical reasoning about Chia operation and I would like to know, I think is illogical creating this without give some reward. All of these miner spend money and time only hoping XCH grow in few years? It's not logical.
Who want mine a coin if there is not a value? Maybe some company or venture enter with some funds or they will enter in exchange with high value, but I really don't understand it.
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April 20, 2021, 07:57:07 PM
 #6

If the coin failed then the miners are in big losses because they buy expensive ssd to mine the coin, I'd rather jump into any new coins to mine if they already listed on exchange, there is no guarantee that it's ever going to happen, too risky

OK but I don't understand why should I mine it if there is not a value for now. There is the possibility that I mine for long time to obtain some XCH and once the will list it on exchange it will cost few cent. Probably I missed a part of logical reasoning about Chia operation and I would like to know, I think is illogical creating this without give some reward. All of these miner spend money and time only hoping XCH grow in few years? It's not logical.
Who want mine a coin if there is not a value? Maybe some company or venture enter with some funds or they will enter in exchange with high value, but I really don't understand it.
Can you drop a link to this project official website? If the project is promising enough it might worth the wait, early miners are the real adopters, they can make tons of money mining coins at early stage, I'm sure the coin is very good that's why people are rushing to mine, kindly drop link to website and let me do some research on the project first, thank you

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April 20, 2021, 09:01:45 PM
 #7

https://chia.net

Well planned project that just recently  launched after years in development and has a fast growing community. Lots if info on getting started at

https://chiadecentral.com
XUR_TIP
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April 21, 2021, 04:12:47 AM
 #8

I spent hours trying to figure out how this coin can favour me, well here is my conclusion

1. The project is a very good one, will surely have good value when listed on exchange and this is not a rushed project so no pump and dump shit here

2. Only Solo mining is available right now, even if you are plotting with 2tb to 12tb ssd it will take weeks or months to earn XCH

3. Wait till pool is available, I heard that is in work already, this way you will earn faster than solo mining

4. This is my judgement, I would rather wait and buy this coin when listed on exchange than mining with HDD or ssd, price will surely fluctuates and you can take advantage of the dips

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Bitbtc8
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April 21, 2021, 08:26:35 AM
 #9

Chia project is not a joke to be honest, that coin can easily reach top 20 when finally launched by the end of this month, I'm waiting on mining pool as well, the solo mining sucks cos it takes months to get shares and your PC have to stay on always

DieZar
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April 21, 2021, 08:50:45 AM
 #10

I spent hours trying to figure out how this coin can favour me, well here is my conclusion

1. The project is a very good one, will surely have good value when listed on exchange and this is not a rushed project so no pump and dump shit here

2. Only Solo mining is available right now, even if you are plotting with 2tb to 12tb ssd it will take weeks or months to earn XCH

3. Wait till pool is available, I heard that is in work already, this way you will earn faster than solo mining

4. This is my judgement, I would rather wait and buy this coin when listed on exchange than mining with HDD or ssd, price will surely fluctuates and you can take advantage of the dips

I understand you. I think it is good project too. All depend, like you said, on "surely have good value". But how much? 1 - 10 - 50$ for XCH?
Mining in solo, with 1 XCH in 3-4 weeks, surely is not profittable.
Instead if a pool allow me to mine some XCH in a month and once listed it will cost 10-20$ maybe will be profittable.
For this I'm asking why mine it now. They don't explain, or I didn't find it, what is the reward for early miners.
For me there is an answer but I can't find it.
reb0rn21
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April 21, 2021, 03:46:35 PM
 #11

lol its 95% clone of burst, 2y developing for what

FFS get real miners and stop hyping shit

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Msobh
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April 21, 2021, 04:35:23 PM
 #12

this project is here since 2017 and yet not listed . with this paid hype i think it will be listed but no future for it .
and i dont think there will be mining pools as there is no idea how a pool and workers will work . i would wait and buy after 1 month of listing on exchanges
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April 21, 2021, 04:36:28 PM
 #13

https://decrypt.co/68617/home-mining-crypto-chia-sparks-hard-drive-shortage-ahead-of-trading-debut

Looks like a big gamble with price and the ability to solo mine vs China sounds like its going to take forever to see any money.
DieZar
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April 21, 2021, 05:19:43 PM
 #14

Yes I think the same. But I want try for fun.
I was thinking to use 1 nvme 2tb + 1 12TB with my work PC. I would know how much it consume and how many XCH can I mine in 1 month, then I'll decide.
Some questions if you can answer:

- My Power depend how many plot can I keep in HDD storage right?
- Is correct with 1SSD 2TB + 12TB HDD make about 90 Plot? 5-6 plot (300GB x 6 on 2TB SSD) that produce 100Plot in 12TB HDD?
- Once I'll produce 100 plot what happen? I image they have to stay there on HDD and the network use them for generate XCH? Is it correct?
- I read about swap of disks? What does it mean?

Thanks
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April 21, 2021, 11:01:09 PM
 #15

this project is here since 2017 and yet not listed . with this paid hype i think it will be listed but no future for it .
and i dont think there will be mining pools as there is no idea how a pool and workers will work . i would wait and buy after 1 month of listing on exchanges

There are pools online dude.

And it is not listed because it started with mining a month ago. There are many projects out for years, before there where listed on exchanges.


lol its 95% clone of burst, 2y developing for what

FFS get real miners and stop hyping shit

 Roll Eyes do some research and don´t write wrong informations. The only thing similiar to burst is that we need hdd´s for mining.

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April 22, 2021, 05:31:10 AM
 #16

lol its 95% clone of burst, 2y developing for what

FFS get real miners and stop hyping shit
If it's exactly like burst the project won't end well, look at burst coin today it's pretty worthless to me but honestly this chia is marginally different, it's really not PoC algo like burst, I suggest you read more about the project first

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April 22, 2021, 06:13:08 AM
 #17

I heard Bram Cohen is the lead developer for Chia.  He invented bittorrent and, owing to his reputation, I presume, he already has the backing of some really big VC's.

Whether or not this leads to success for this crypto remains to be seen, of course.
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April 22, 2021, 06:15:10 AM
 #18

I heard some are already buying and selling this coin in iou form on hotbit and the price per coin is 2000$, hm still bugs me like hell because that's a too good to be true price for the coin, I only predicted 20$ per coin, in my country I can get my hands on 200 terabytes of HDD for cheap price but still I don't have the confidence running this

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April 22, 2021, 09:46:01 AM
 #19

I heard some are already buying and selling this coin in iou form on hotbit and the price per coin is 2000$, hm still bugs me like hell because that's a too good to be true price for the coin, I only predicted 20$ per coin, in my country I can get my hands on 200 terabytes of HDD for cheap price but still I don't have the confidence running this
Using HDD will be very slow in plotting compared to using NVME or SSD, I read somewhere online about this, I would probably invest in this coin instead of using thousands of dollars to invest on SSD to mine the coin

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April 22, 2021, 11:48:14 AM
 #20

Yes I think the same. But I want try for fun.
I was thinking to use 1 nvme 2tb + 1 12TB with my work PC. I would know how much it consume and how many XCH can I mine in 1 month, then I'll decide.
Some questions if you can answer:

- My Power depend how many plot can I keep in HDD storage right?
- Is correct with 1SSD 2TB + 12TB HDD make about 90 Plot? 5-6 plot (300GB x 6 on 2TB SSD) that produce 100Plot in 12TB HDD?
- Once I'll produce 100 plot what happen? I image they have to stay there on HDD and the network use them for generate XCH? Is it correct?
- I read about swap of disks? What does it mean?

Thanks
1 nvme 2tb will allow you to create 6 Plots at the same time. This requires a multi-core processor and at least 32GB of RAM. It will take you 10-12 hours to form 6 Plots. If you make 12 Plots in 1 day, it will take you 9-10 days to partition the entire hard disk.
It looks more like mockery than mining





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