$XCH nose diving???

[pluto2021]

What is going on? It is <$440 now!
What is the incentive of continued plotting? i.e. hold the bag and wish for the best to happen?

[room101-dev]

What is going on? It is <$440 now!
What is the incentive of continued plotting? i.e. hold the bag and wish for the best to happen?

Essentially they cracked a new noob sucker stream with 'chia', its green, gay, & clean; What's a mother not to like? There are still 100's of influencer YT videos in all human languages on YT all reading from the same paid script of 'caleb' all saying 'Get rich plotting chia on your old HDD"; This thing has legs, but the price, oh well that will go down & hard. It was always just about the IPO, and the space (EB) will sell the IPO, the price of XCH doesn't matter to the chia-net dev ppl in Calif, because they don't have any 'chia'(xch) their end in the deal was always the IPO ( NYSE trade value $10Billion USD, next Red-Hat Crypto support fortune 500 company, to be sold to IBM, 3+ years future )

It's going down, IMHO around $50, maybe lower. Here's the deal, it was a chinese IOU back first six months of this year, long before the main-net of 05may2021 it was trading as an IOU on chinese exchanges, just like its brother bitcoin-gold was an IOU some 5 years ago, long before main-net, all the same people rinse&repeat. Only difference this time is that the chinese billionaires are using a faux dev-team in Calif(SV aka chia-net-inc ) to act as the base, with bitcoin-gold they used a team in UKRAINE, but hid the chinese ownership.

IMHO the entire cat is out of the bag, and yes the only bag holders for XCH will be the west. This thing was setup and pumped, and the HDD companys front runned, the chia-net team will get their IPO, as a sack of feces can be sold to the public, and lastly bitcoin-gold is still around, so might xch in 5+ years of today.
Funny of all is chia-explorer is still saying the price is $550, but coinmarketcap is saying $440, so the real price is probably already broken $100, my guess is the IOU folks in china will liquidate this week.

...

Should you mine? Well of course not, think about this,what exactly will these useless plots be used for in the future? We already know they can be faked, some 20% of plots submitted to HPOOL are fake, which means the entire plot-create has to be redesigned, and of course the portable-plot protocol is just fantasy coming out of team BS in Calif. Remember all they get is the IPO, and they can't lose, as crypto is hot, and this shit-coin is 99% marketing, and the EB space is still growing, now at +22EB, at 4%/day. The momentum for the morons is constant now, and the price sure will fall, but reality was disconnected long ago.

So sure plot on, but just remember its just random numbers on a disk, that burns up SSD drives and HDD drives. It all comes down to how much HD you want to kill with no ROI.

[69chargr]

Where are you getting the idea that company valuation = netspace? The promises of Chialisp and the attractiveness of low power consumption relative to PoW chains are what drives valuation.

[pluto2021]

The netspace is not all but certainly a significant part of that equation. I said "depends", not "=". Need to be accurate. Would Chia worth anything if there is little netspace? besides all Chialsp and the "attractiveness"? BTW, how would you calculate the valuation of the "attractiveness" that is so subjective? It is certainly attractive to whoever is on the IPO deal behind the scene. For solo farmers, any real incentives beyond an empty wish for the $XCH to skyrocket some day? These rewards are really leftovers, classic for IPO. Upon IPO, the Chia team and the private investors (excluding farmers who paid for the netspace) would get rich regardless. For traditional IPO, private investors would need to pay for the netspace!!! Now it appears that Bram used this Chia crypto as a bait for others (farmers) to pay for the netspace he needs to go IPO!!! I believe that this needs to be reviewed by the SEC, seriously.

[69chargr]

Hahahah!! So by your definition Ethereum is a scam too. 72 million ETH premine right?

[pluto2021]

I do not want to compare ETH first. So please try not to lead to that direction. Whether this Chia scheme is fair or not has nothing to do with ETH. My comments on Chia also do not have anything to do with ETH. Secondly, I never said Chia is a scam. You said that. So don't make me wrong. It can be a good project if farmers can get their real fair share, and profitable incentives that are sustainable.

[69chargr]

You don't want to compare because it's literally the exact same scenario! No matter what coin you're talking about, your proportion of the reward is based solely on your share of the total work. The ONLY difference at the moment is that there is no pooling protocol in place. Go solo mine ETH or BTC and see what you get because that's what we're all doing with XCH untill actual pooling protocol is released. This is literally no different than any other coin. Stop spreading FUD and make an effort to educate yourself and at least try to be intellectually honest about the facts.