Chia Network | What do you think about Chia?

WatchMaker

WatchMaker

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The inventor of Bittorrent Protocol; Bram Cohen has launched new crypto earlier this year called Chia | chia.net

The Chia Project was getting massive action recently because anyone can mine it using a PC, and free Disk space.

To get Chia you need to start "Plotting" and "Farming" for Chia's K2 files (101GiB each with a temporary space of 239GiB)

Mining Chia Plots require fast SSDs and HDD for Chia farming. Thus, the more Plots you have the luckier you'll get in winning Chia.

Each Chia's block reward pays 2 coins and the price for Chia coin about $900 - The all-time high for a Chia was around $1,800 a week ago


daOhga1



Let me know what y'all think about Chia? Is it looking good or bad?

I started Plotting Chia using a Dedicated server, the server cost is too high, what do you think, guys?

Disclaimer: I'm not promoting/shilling any altcoin including Chia. This is not financial advice either, DOYR!
 
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Just heard about just briefly, but this article seem interesting:

https://www.tomshardware.com/how-to...based-cryptocurrency#xenforo-comments-3702548
with this links:
How much can I earn farming Chia (XCH)?
https://chiacalculator.com/
and:
That's actually a recommended long-term farming solution from the Chia creators. Above is an example 96TB farm consisting of 30 USB-connected HDDs of varying capacities running off a single Raspberry Pi 4. We'd suggest syncing up with the Chia blockchain and then manually copying the database over to your Pi setup to get started, as otherwise it can take a while to get going (in our experience at least).
 
maresen said:
Just heard about just briefly, but this article seem interesting:

https://www.tomshardware.com/how-to...based-cryptocurrency#xenforo-comments-3702548
with this links:
How much can I earn farming Chia (XCH)?
https://chiacalculator.com/
and:
That's actually a recommended long-term farming solution from the Chia creators. Above is an example 96TB farm consisting of 30 USB-connected HDDs of varying capacities running off a single Raspberry Pi 4. We'd suggest syncing up with the Chia blockchain and then manually copying the database over to your Pi setup to get started, as otherwise it can take a while to get going (in our experience at least).
Click to expand...


Useful Links:

ChiaLinks.com
ChiaStatus.com
ChiaExplorer.com
ChiaCalculator.com
 
WatchMaker said:
Useful Links:

ChiaLinks.com
ChiaStatus.com
ChiaExplorer.com
ChiaCalculator.com
Click to expand...


Bro
you seem researched a lot, I have a few HDD how can I monetize with this project. or how the mining works with this CIA coin
If you write something about it, it will help me as well others member.
 
if you want to start with little hdd storage like 10 tb - wait until pools is launched (it should happen till end of may)

on paper all is fine:
You plot on ssd (min. 480 GB)
You farm on hdd

but 1 plot takes about 10 to 12h and whole network is already huge so its very very small chance that you will win a chia
 
in the last 30 days been hearing about in and alot of ppl are mining it
 
Here is what I think of Chia (I put my money where my mouth is):

chia-03.jpegchia-02.jpegchia-01.jpeg

Invested so far into 0.30 Petabytes (300,000 TB) worth of disk space. Have been farming Chia with my setup since early April and currently sitting at 42 Chia tokens farmed.

Definitely you get the first-mover advantage by moving fast, considering how fast difficulty is getting (Due to more and more people jumping in every single minute).

For those who are interested to know my setup:

Processor: Ryzen™ 9 3950X (32 Cores) - Water Cooled
RAM: 128 GB RAM (3600mhz)
SSD Storage for Plotting: 3 x 2 TB Samsung 980 Pro M.2 Nvme Gen 4
Storage for Plots: 40 HDDs and adding more to keep up with network growth by reinvesting my profits (My current HDD capacities range from 8TB to 16TB per HDD, some are internal HDDs along with external HDDs)
 
Last edited:
xStewie said:
Found this video
Click to expand...
That guy is complaining about not winning a 2 XCH block worth ~$1900 at the time of shooting his video for investing $200 worth of storage within his first 2-3 weeks.

That's not how it works! And with his small allocated storage, he will be better off waiting for Chia pools to kick in.
 
yousefgreat said:
Here is what I think of Chia (I put my money where my mouth is):

View attachment 173834View attachment 173835View attachment 173833

Invested so far into 0.30 Petabytes (300,000 TB) worth of disk space. Have been farming Chia with my setup since early April and currently sitting at 42 Chia tokens farmed.

Definitely you get the first-mover advantage by moving fast, considering how fast difficulty is getting (Due to more and more people jumping in every single minute).

For those who are interested to know my setup:

Processor: Ryzen™ 9 3950X (32 Cores) - Water Cooled
RAM: 128 GB RAM (3600mhz)
SSD Storage for Plotting: 3 x 2 TB Samsung 980 Pro M.2 Nvme Gen 4
Storage for Plots: 40 HDDs and adding more to keep up with network growth by reinvesting my profits (My current HDD capacities range from 8TB to 16TB per HDD, some are internal HDDs along with external HDDs)
Click to expand...
What is your internet speed?
I think isp will cut you from their network if you push 0.30 petabytes traffic
 
YMYL said:
What is your internet speed?
I think isp will cut you from their network if you push 0.30 petabytes traffic
Click to expand...
My internet speed is 100mbps with a bandwidth cap of 300 GB/mo

Nevertheless, internet speed and bandwidth are an issue here since Chia operates on a Proof of Capacity consensus which does not consume much bandwidth.
 
TheVigilante said:
@yousefgreat that's some slick PC config holy 128GB RAM

How much in total did you invest for the PC setup?
Click to expand...

What I purchased:
  • Processor: R9 Ryzen 3950x - $790
  • Motherboard: GIGABYTE B550 AORUS Master - $260
  • RAM: 128 GB 3600 Mhz Crucial (32gb x 4 sticks) - $420
  • CPU Water Cooler: Cooler Master MasterLiquid ML240L RGB V2 - $78
  • NVMe SSD: 3 x SAMSUNG 980 PRO 2TB - $1287

What I already had laying around:
  • Storage: A total of 300TB of storage distributed as 8tb-16tb external drives. I originally bought these back in 2017 for another mining project called Burst which turned out to be a total failure due to bad management, 51% attacks, fork-after-fork... and since then those hard drives were in their boxes packing dust not even paying off 5% of what I paid for them. I remember back then I paid around $7000 hard drives which was a loss that was hard to swallow.
So:
  • Total that I invested in this setup without factoring in storage: $2835
  • Total investment after adding storage costs: $9835

Total mined so far: 42 CHIA (21 blocks)

I did sell all the chia I mined 5 days ago at $1400/XCH for a total of $58,800 (Risk management)

This leaves me at a very decent profit, along with a decent PC that I have fully paid off.

From now on, I am not planning to sell any XCH that will be mined for the next 2 years in case it takes off. I might consider reinvesting some profits and in doubling down on my space, but I did not make a final decision yet.

PS: I am not advising anyone to start Chia mining now since the difficulty went up the roof.

20TB of storage 6 weeks ago would have easily gotten you 1 CHIA a week.
20TB of storage 3 weeks ago would have gotten you 1 CHIA a month.
As of today, 20TB of storage would get you 1 CHIA every 4 months (Without factoring in the network growth over the course of those 4 months which could widen up the time-frame for 1 CHIA to 12 months.)

The network is growing fast with many people adding storage every second. If you have an appetite for risk, patience and some extra money laying around, then IMHO Chia could be a v lucrative opportunity.
 
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