Replies: 14 comments 63 replies
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if chia ever becomes as valuable as bitcoin, itd be nice to have 2 chia |
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Thank you @hoffmang9 for taking the time to answer.
Maybe the term was badly chosen. @hoffmang9 some questions:
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If you're 'investing' more than what you can afford to lose, then you should stop farming. And this would include unused diskspace which you can forego. Just imagine you bought a TB external disk (due to price factor), but you've only used 200GB of it, you have 800GB to spare to which you know you'll never use the most of it. You plot 2 x k32, farm, and get rewarded for the unused space. What's your lost? None. You may in fact gain some XCH over time, and if the market value hits a favourable value, your unused space in the past is rewarded handsomely. What could be a problem in this scenario? If you wanna think towards making it profitable...then you aren't considering what the whales (with vested business interest) would need to financially and operationally commit to. They would be much more worried than your few plots of diskspace. To says that they shouldn't receive the rewards due to their investment is rather unfair. If it's about ROI, then you're thinking way too simple. |
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I think you have to update the calculation formula of Expected Time to Win. Its completely inaccurate. |
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My concern with this V traditional mining such as Eth at the moment is you always get a return to match that of your % in contribution. Where as with this method you could easily allcoate a years with of time, hardware and effort and get nothing to show for it. Nothing at all. Especilly as the % contributio gets smaller as more enter the field in coming months to years. Where is the reward for early supporters? Why not reward all with a % of their contribution 0.002% etc. |
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Why not limit the maximum amount of space per node to let's say 1TB? It would definitely favour small players and network dispersion. |
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Mmmmh .... Anyone any experience about that? |
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I have 178 plots showing time remaining to win 3 months I have another 4rb to plot but I'm not keeping my hopes up for a win. This seems to be worst than bitcoin for environmental impact. But, plotting takes massive resources of hard drives and electric to plot the files only to have the whole network increase and time remaining to win go up!!!!! Plots are passing filter but find nothing at all. I've never won the lottery, so should we look at this the same???? Since it's like or describes as a lottery. If that's the case, you could farm for a lifetime and never win. This is not usefull for anyone new. I started when network was I let 200Pb. Not it's 6.36 EiB. Chia is dead before it begins properly for the normal average pc user. |
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you farm because of you see chia as one of the following options: 1 - you're a small guy and you don't have many resources, so that's a lottery. you may end up getting a winning ticket, that ends up paying for the cost of your hardware, which otherwise you wouldn't. 2 - hobby - you know that Bram Cohen built bittorrent, a technology that dramatically changed how people share data. you want to support the network because you want to see what this new technology will accomplish. You do not expect profits, but you'll be happy if they come. 3 - business - you see Chia as an investment, with huge potential in the future. You are willing to take a big risk, spend money on hard drives and hardware, building mining farms, spending your time improving efficiency, working with people and creating pools, building communities, pools, trying to contribute to the success of the project. High chances that you are going to make money, because you're willing to put in the effort, the time and the investment. One can also spend their time arguing about decentralization vs rewards proportion, however it seems awkward that someone that is unwilling to contribute more, is debating and expecting to receive rewards proportional to people that do decide to put in the effort, and take the risks on an unproven technology. i understand that not everyone is unwilling, maybe a lot of people just don't have the resources, but you can't build a house with good intentions. Someone has to put in the time, the effort and the resources. |
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Pure lucky: With 8 plots I won 2 XCH. With 20 plots I won 2 more XCH. I already have 200 plots, and I didn't win any more ... I will continue to plot, and participate in the game, until the launch of the pools .... Not to mention that I use video card mining rigs to mine XCH. |
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You must have started early. Mate has 18 coins. He had 144 plots when the network was only 207PiB in size . I keep plotting more, but can't keep up to lower the estimated time. Glad you managed to get something for yourself though👍 |
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Hello everybody from a newbie.
I have managed to install two plots of k=32 on a laptop (HDD - one plot at a time, took a bit). Now the farm dashboard indicates "Time to win = 5 months" (to win a block of two XCH, right?).
Now depending on the expected value of a XCH coin, I was wondering: Is farming worth at all the "effort" for a "mini-farmer"?
As, moreover, there is no guarantee (as it is a lottery), my impression is that the "target audience" as farmers are folks who are willing to invest in loads of TB harddrives (or do already have so) to have any chance of harvesting anything significant at all.
Why would it be interesting at all for folks "who just happen to have some disk space", to make that available?
Why would a block of 2 XCH over 5 months be an incentive?
Thank you for any thoughts on this.
Best regards!
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