Topic: Chia Cryptocurrency - page 3. (Read 1637 times)

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.

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

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.

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).

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

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

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 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.

we accept Chia

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.

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?

If Burst and other PoC (Proof of Capacity) coins didn't had much success, I don't think Chia will make the difference. It's full of hype more than anything else. Right now, prices per coin are insane as its valued at around $600 on the market. Expect to see a shortage of SSDs and other digital storage mediums because of the Chia "mining" craze. After the dust settles, Chia may lose its value big time. It's not about hype, but rather delivering real use cases for the mainstream world. The project needs something innovative in order to stay ahead of the game. Otherwise, it'll be left behind other prominent coins on the market.

Nonetheless, anything can happen in crypto land. As long as there's demand for Chia on the market, prices will only go up in the long run. We're going to have to see whenever developers are willing to keep the project alive or abandon it in the long run. With active development, and innovation, Chia could last a lifetime. Who knows how far it'll go ten years from now? Just my thoughts

https://www.chiaexplorer.com/charts/xchTib
there you can enter your disk capacity and it will show you a prediction of what can be expected

but beware the minimum reward is 2.0 XCH when you actually farm (mine) a block, so if the prediction for your disk size and number of days you are willing to let it run is not higher than 2.0 XCH, then you are probably better off staying out until the pool support is properly implemented

yes, that's right, chia is designed in a way that makes free pooling impossible, instead they are implementing their vision of what fair pooling may look like

and it (announced chia pool support) is as retarded and unfree as you can expect from a pre-mined corporate wish-to-be ecological crypto

meanwhile the world harddrive supply vanished overnight and you can expect shortages

I really hate chia

I can not find CHIA on whattomine. Do you know any website that I can calculate productivity of my rig if I use it to mine this coin, CHIA.

Thank you a lot.

That's my biggest fear. With that in mind I would look investing in Chia or some similar project in bear market. In that time people are less willing to invest in something that is going down.

yes, if you are able to wait 10 years for your coin... it took about a month to plot 10 terabytes on the hardware that is cheap and readily available

the reward with 10 TB plots is expected in about a month, but the difficulty is currently ramping up faster than you can plot and if you are not lucky and win the reward soon, in two weeks it can be expected in next three months, then a year and at that point you are out of the game without significant investment in specialized hardware

Well, I'll be damned. This coin wasn't a complete waste of effort after all. I'll be selling my 2 coins I was able to mine, if I can ever get that horrible client to sync. I will probably reinvest the proceeds on Nasdaq to WDC or STX.

chia is a new altcoin just born that has in addition to a great value about $ 644 also a great potential that is easy to mine you do not need powerful computers it can be mined from hard disk, so it is in my opinion an excellent chance of earning

I don’t know guys. From what I can see what they have built is very solid. Now that mainnet has launched and transactions have been enabled they will be able to focus on improving the gui software. They have some big name investors on board and based on what I have read I can see this being a a top 10 cmc project in the future.

Since launch of mainnet interest in the projects as grown exponentially. Will be an interesting one to keep an eye on in my humble opinion.

Proof of space is an algorithm that is not yet known well. If the consensus proof to be better than other blockchain consensus algorithm particularly in term of speed and transaction fee then Chia might end up competing with bitcoin. It seems the blockchain will be a centralized one compare to bitcoin which operate on decentralized network

I can decide to mine chia once there is official pool available, I don't want to do the solo mining and keep looking at my screen hoping one day I get something, I want to mine like GPU mining where you get something every day