Chia Coin Mining become unprofitable - the coin has fallen in price by 3 times

[Apytioh]

My Chia farm!

Almost 5PiB
https://twitter.com/Apytioh/status/1532642888420667392?s=20&t=IM2MfUSVifKXynUxaKb_Sw

[1715116552]

1715116552

[FP91G]

https://t.me/NewsSoleniy/8397
3.18 euros per day from 18 hard drives on Chia mining

Excited to bring XCH to the secure Tangem hardware wallet!
from the Chia Discord:
Excited to bring XCH to the secure Tangem hardware wallet!

Tangem is a Swiss Provider of card-shaped cold storage solutions that combine security and simplicity.
https://www.reddit.com/r/chia/comments/159fsrd/excited_to_bring_xch_to_the_secure_tangem/

[Bitcoin_Arena]

>>snip<<

Just curious though. Not so much is talked about this coin lately. How is the mining of this coin going on?
Are some of the miners still very hopeful about the future of the coin?

[FP91G]

>>snip<<

Just curious though. Not so much is talked about this coin lately. How is the mining of this coin going on?
Are some of the miners still very hopeful about the future of the coin?

On the one hand, mining this coin is difficult, because preparing hard drives takes some time, depending on the characteristics of your PC. But then the mining farm consumes little electricity and does not make noise. It is convenient to mine in an apartment. But now it is more profitable to buy this coin at $31.

[fmz89]

all hardrive mining fall faster than any other mining, cus many people already ton of hardrive, specially filehosting provider thats lot of empty space.
most people now dont use anymore filehosting, they can easly deploy hdd mining instead

[FP91G]

all hardrive mining fall faster than any other mining, cus many people already ton of hardrive, specially filehosting provider thats lot of empty space.
most people now dont use anymore filehosting, they can easly deploy hdd mining instead

Unfortunately, even a large Internet provider will not be able to quickly start mining on hard drives, because plotting is very expensive on rented equipment, and it takes a very long time to do it on their own equipment.
But if you have 1-2 hard drives, then you will not be interested in mining because of the small profit.

[FP91G]

Chia new update
Bladebit 3.0 release - Create compressed K32 plots using ramplot or the new GPU plotting cmmand, cudaplot, to increase your effective space and earn more farming rewards
C1 to C7 compression levels are supported, see here to understand how much compression you are getting at each level
256GB minimum RAM support when using a GPU, or 416GB minimum RAM support when using a CPU. NVIDIA GPU with 8GB* of VRAM, CUDA capability of 5.2 (1 series cards and up).
Supported on Windows and Linux
Plot from the GUI or from the CLI
Existing uncompressed plots will still continue to work
https://github.com/Chia-Network/chia-blockchain/releases/tag/2.0.0

[fmz89]

with the fall memory price recently, chia price drop as long hdd/ssd falling, its crazy only 4months ssd price drop almost 50%
well every component same thing drop like nobody absorb, everything is falling, and less people buying stuff these day. but when you saw only half of people selling their house compared 2019 which
makes thing even weird on this economy cycle

[FP91G]

with the fall memory price recently, chia price drop as long hdd/ssd falling, its crazy only 4months ssd price drop almost 50%
well every component same thing drop like nobody absorb, everything is falling, and less people buying stuff these day. but when you saw only half of people selling their house compared 2019 which
makes thing even weird on this economy cycle

I am seeing that many miners are starting to become interested in mining the CHIA coin. This coin can be mined at home in silence. Miners do not want to sell the coin at the market price, so they are still accumulating coins. This coin has the potential to grow.

This is not like storage in data centers, and pieces of paper between hard drives play a key role.

[Branko]

I am seeing that many miners are starting to become interested in mining the CIA coin. This coin can be mined at home in silence. Miners do not want to sell the coin at the market price, so they are still accumulating coins. This coin has the potential to grow.

Since price is constantly falling since introduction, who is selling then? Are you suspecting creators
are dumping premine on us?

[FP91G]

I am seeing that many miners are starting to become interested in mining the CIA coin. This coin can be mined at home in silence. Miners do not want to sell the coin at the market price, so they are still accumulating coins. This coin has the potential to grow.

Since price is constantly falling since introduction, who is selling then? Are you suspecting creators
are dumping premine on us?

NO. The premine is in the wallets of the developers

One thing you CAN follow perfectly, are the coins itself. Each coin created has a parent. You can follow parents ultimately until "Genesis", the start of the whole blockchain. When a coin is "spent" it will be destroyed and split into children with new values transferred to the new destination (which also can be your own wallet. Think of "change" when you deal with cash.). You can perfectly trace on blockchain which coins are spent and which are not. The exact premine amount is divided into 4 coins which stay there unspent since May 4th 2021 (really? Exactly 10th anniversary of Star Wars Day? 👍)
https://rudolfachter.github.io/blockchain-stuff/public/chia/chia_prefarm/

Therefore, only miners and traders can sell coins.

[Branko]

I am seeing that many miners are starting to become interested in mining the CIA coin. This coin can be mined at home in silence. Miners do not want to sell the coin at the market price, so they are still accumulating coins. This coin has the potential to grow.

Since price is constantly falling since introduction, who is selling then? Are you suspecting creators
are dumping premine on us?

NO. The premine is in the wallets of the developers

One thing you CAN follow perfectly, are the coins itself. Each coin created has a parent. You can follow parents ultimately until "Genesis", the start of the whole blockchain. When a coin is "spent" it will be destroyed and split into children with new values transferred to the new destination (which also can be your own wallet. Think of "change" when you deal with cash.). You can perfectly trace on blockchain which coins are spent and which are not. The exact premine amount is divided into 4 coins which stay there unspent since May 4th 2021 (really? Exactly 10th anniversary of Star Wars Day? 👍)
https://rudolfachter.github.io/blockchain-stuff/public/chia/chia_prefarm/

Therefore, only miners and traders can sell coins.

That was my point...miners ARE selling at curent price

[FP91G]

The Chia Network project team is having problems:

Chia Network Lays Off Third of Its Staff as Loss of Banker Delayed Going Public
Chia fired 26 of its 70 employees as it continues its pitch to the U.S. Securities and Exchange Commission on going public and is weighing first-ever sales of some of its tokens.
https://www.coindesk.com/policy/2023/10/02/chia-network-lays-off-third-of-its-staff-as-loss-of-banker-delayed-going-public/

[FP91G]

After block 5,045,760, the block reward will be cut in half, from 2 XCH to 1 XCH. Each block reward will continue to be split into two coins, where 7/8 of the reward is the pool coin, and the other 1/8 (plus fees) is the farmer coin. Over the following nine years, the network will experience three more reward halvings, with the last occurring after block 20,183,040 – currently estimated to be in the first half of 2033. We built these reward reduction events into the blockchain before the launch of mainnet and outlined the schedule in our documentation and white paper.

https://www.chia.net/2024/02/15/chia-blockchain-explainer-the-halvings/
About 9 days until halving

[50promil]

chia is dead. Rest in peace . The plot format is constantly changing. GPU is also involved. When it first came out, they said it was environmentally friendly and would be made with minimum equipment. My 500 pb farm has been closed for a year.

[Branko]

chia is dead. Rest in peace . The plot format is constantly changing. GPU is also involved. When it first came out, they said it was environmentally friendly and would be made with minimum equipment. My 500 pb farm has been closed for a year.

Chia netspace is growing anyway

https://xchscan.com/charts/netspace