3 ms·
Again, it was only cost-effective to build farming rigs in the very beginning. It is no longer cost-effective to do so. Even major companies will eventually hav
by ahnick 5y ago
Again, it was only cost-effective to build farming rigs in the very beginning. It is no longer cost-effective to do so. Even major companies will eventually have a tough time competing with the amount of storage space that is already deployed in the world. IIRC is around ~7 Zettabytes. That is the big difference with Bitcoin. Chia is making use of a resource that already exists in the world and is well distributed. Bitcoin ASICs require manufacturing and building machines for the specific purpose of mining Bitcoin and then distributing those machines.
- phire 5y agoIt's not really worth using your free space. I currently have 4TB of free space. I could plot them which would result in an estimated $7.57/month of income per month. But.... that's not a constant $7.57 each month. Instead, it's a 1.5% chance of winning a single payout of 2 XCH each month. I could reasonably expect to go five years, never winning a single XCH. Who knows what the value of XCH will be then. There has been a pretty solid downward trend in price since May, contrary to most coins, which started trending up again.
- ahnick 5y agoIt sort of depends on your process right? If you just want to download the client software and point it at your existing drive and start plotting in the background while doing something else, then I tend to think why not? Worse case scenario you continue to get nothing for the space you currently get nothing for. Also, if you want frequent payouts you can join a pool and then you don't have to worry about going 5 years without getting a reward.
- phire 5y agoOh, pooling wasn't available when I last researched the topic. That changes the calculation significantly.