Topic: Chia Coin Mining become unprofitable - the coin has fallen in price by 3 times (Read 2496 times)

Carbon Credits
Asset Tokenized: High quality carbon credits
Market Benefit: Providing greater transparency into carbon credit markets and providing project developers a path to higher monetization.
Why Chia: Leveraging unique primitives such as DataLayer, Chia is the technology behind the World Bank’s Climate Action Data Trust (CADT), a decentralized metadata platform, like Edgar, that links, aggregates and harmonizes all major carbon credit registry data to enhance transparent accounting in line with Article 6 of the Paris Agreement.
Applicability: Any asset class that is traded in fragmented and opaque markets.

AI Compute Resources
Asset Tokenized: AI compute resources (GPUs today)
Market Benefit: Allow excess idle capacity to be monetized for owners, and for users access to vast GPU compute resources without capital outlay and lead times.
Why Chia: Leveraging the inherent security of the Chia blockchain along unique primitives like Offers, the physical AI infrastructure is represented as digital twins, providing a transparent, permissionless market.
Applicability: Secure and compliant infrastructure to deploy Decentralized Physical Infrastructure Network (DPIN) for industries tanding from energy to data storage.

Luxury Goods
Asset Tokenized: Luxury goods.
Market Benefit: Ability to integrate proof of authentication and ownership along with Digital Product Passport (DPP) compliance.
Why Chia: Market specific modular solutions for authenticity, proof of ownership and provenance, available for integration into existing brand applications.
Applicability: Any high value asset class like Art that suffers from counterfeiting and theft.

Dealer Floorplanning
Asset Tokenized: Cars
Market Benefit: Automate the transfer of ownership and loan repayment without the need for manual lot audits. (Floor plan lending is a revolving line of credit that lets car dealers borrow against retail inventory)
Why Chia: The solution attaches a car’s vehicle identification number (VIN) to a blockchain and uses telematic and geolocation sensors for real-time identification of inventory on the dealership floor along with payment automation leveraging smart contracts.
Applicability: Any asset class that uses inventory financing inventory to manage cash flow.

https://www.chia.net/2024/10/10/tokenization-the-path-toward-greater-market-liquidity/

that mean in future maybe we need to replot again?

In layman terms, what that changes for Chia miners?

We’re thrilled to officially launch Berkeley Compute, a groundbreaking decentralized GPU platform at the intersection of AI and blockchain technology. After 6 months in stealth, we’re finally sharing our vision with the world and our $5M pre-seed round led by @chia_project

https://x.com/0xberkeley/status/1838624444501364959

Chia Network Acquires DrPlotter Technology and Expertise

We’re excited to announce that we’ve acquired the DrPlotter technology—one of the major plot compression tools in the Chia ecosystem. Dr. Nick (Nicolas Halper) himself has also joined the Chia team to work on the future of plotting!

The DrPlotter technology will remain unchanged, and we’re removing all fees for its use. Our long-term vision is to open-source it, but that’s for another day.

https://www.chia.net/2024/05/13/chia-network-acquires-drplotter-technology-and-expertise/


To put it very simply, this is a big breakthrough in Chia farming.
The new plotter does not require you to enter a seed phrase and does not force you to select a specific pool.

Chia netspace is growing anyway

https://xchscan.com/charts/netspace

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.

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

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/

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

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.

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

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.

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

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

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.

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

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.

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?

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/