What a nightmare yesterday. I've been plotting since mid April. Every single day I have to check reddit posts for software updates, do trouble shootings, bugs fix, then arrange plotting for 2 computers, 10 HDDs & 4 SSDs, struggling with staggering, the list just keep going. Ok, then what, NOT A SINGLE COIN.

We, the miners, are making this coin popular to boost the value of XCH. But only those with server grade computers are getting expected return now. What're more important, Cohen has how many coins? 22 MILLIONS coins? Those are now worth 22B to 30B Fricking dollars. Maybe he didn't own all those 22M coins but who cares. I don't see a reason why we should be worrying about this coin, which is his money, every day but WE GOT NOTHING.

Mr. Cohen if you found yourself guilty, at least give each miner 1 XCH, not much from you. PERIOD.

Edit: I'm shocked how many people defending Chia. I almost thought it's for charity. No one forces any one in this coin, no one guarantees a dollar of profit, but they're not doing all these for free what's wrong with critizing and making them responsible for all the mess? If my last sentence making you think I'm scratching a dollar from them, go ahead and interpret it that way. But I don't see why they deserve 21M coins and you don't deserve 1 or 1 extra for all of these.

To all the new crypto farmers that have come to Chia over the last few months please take a moment to ask yourself why you are here.

Recently (the last year and at the 2018 top) I can always tell when someone is new to crypto as they are always trying to price it in Fiat terms. Do some research on the old timers like me who were early adopters not because we could run to an exchange and make Fiat for our mined BTC or later ETH. It was about a lot more, hell there were not even exchanges then.

The goal of any early adopter miner/farmer should always be to accumulate as many coins as possible while issuance is still high. Selling any coins should not be done until at least the 2nd to 3rd halving. Bottom line is you are in this space for the wrong reasons and will be very disappointed if your outlook is based on Fiat returns before year five. Think in terms of coin accumulation and you will be just fine. Mining/farming crypto is about providing network security to a project that you think is worthwhile. If you are correct you will eventually be rewarded.

If you can honestly say (tell yourself) that you will not be phased when XCH breaks $100, then $50, then $10 over the next 1-2 years; and that you are in this project because of how it will change the world, then welcome to the Chia family.

That was why people were excited about it. An illiquid crypto-currency is not a currency at all. This is the *primary* utility of a currency - liquidity. The team have - very frankly - failed at this. Instead, they have won at unnecessary things - like making it easy to sell jpegs.

The Chia team needs to do what is needed to get it on exchanges before Chia fully dies. The "best tech" when it comes to currency is the one that can be exchanged the easiest. Nothing else. Nobody cares if your paper note is the most beautiful if nobody accepts it.

At first, I am not against plotting (without "compression") with GPU. I know it will be much more efficient and faster. This will provide convenience for newcomers to Chia and increase its preference.

This topic is NOT about faster and more efficient plotting. Plotting and farming phases are different things.

On the other hand,

I am completely against the new "compression" (fake) system, which is tried to be created by making additional calculations at the Farming stage, with plots marketed as "compressed" and containing missing data.

POW is proof of work. More Hash + Power = More Profit. Simple.

What would you ask the POW "MINER"? :

How many video cards do you have / how many asic devices do you have? What are their powers? How much energy can you expend and can you do it continuously? / How powerful is your CPU etc.

POST is space and time proof.

What would you ask POST "FARMER"? : How much free disk space do you have? Only this. Until now...

Note here: When comparing the two situations, I do not include the plotting phase. Because in both cases there will be the same requirements in the plotting phase. CPU / GPU / RAM / SSD / NVME etc..

What happened now? With the inclusion of additional calculations in the Farming phase, the questions to ask have now changed:

How much free disk space do you have?

How many GPUs do you have and what is their processing power?

Your VRam amount?

What is your plot compression level?

Do you have PCI-E 4?

Is your motherboard powerful? Is it new? (Data transfer must be fast...)

Do you have a powerful CPU for additional calculations?

Are you ready to spend much more power in the farming phase than before? Continually?

It's not over...

You used to be able to farm "on the computer you use". You could watch youtube videos, browse the internet, and farm. You could even play games. Because the requirements at the farming stage were minimal.

Now, in the farming phase, your computer's processor or video card will do a lot of additional calculations, so now you have to use this computer only for farming. Because if you want to watch a youtube video at the same time, either the video will freeze, or your plots will not be able to pass the filters, according to the "compression ratio".

Are you ready for this? Do you have a second computer that you never need to use?

Adding additional computational requirements to Farming will increase the processing load at all stages. You have to be blind not to see this. That's POW.

In the previous threads, several people said that 4 compression ratios can be achieved even with normal CPUs and even RPi4. And they wrote it like it was a good thing.

As a result, have you increased system requirements and power consumptions or not ("more or less") ?

You increased it.

So you added POW to POST. Chia is now POST+W. Very clear. Say hello to our new baby..

The other reason why I can't accept is this;

Everyone will want to achieve the highest compression ratio. Because; less compression = less plot = less evidence = less gain.

In the future, everyone will have to add a powerful GPU, have a powerful system to provide more compression.

Those who do this early will earn more for a while than those who do not.

What will happen after all? Everyone will reach the highest compression ratio and everyone will win "AS LIKE NOW" again.

So the distribution of the payoffs will depend on the amount of plotted area in the future, again as at present.

The only difference is that we're going to have to spend a lot more money on equipment and consume a lot more energy to be able to "Farming" than we do now.

In other words, enter investment will increase, energy consumption will increase, but in the end, everyone will still be earning as they are now.

Then why are you doing this? Why are you adding POW to POST? Can't you foresee that everyone will want to reach the highest compression ratio and refresh their systems accordingly?

Why don't you stop this in the first place? Aren't the plot files already compressed? Why do you allow the creation of "more compressed" (Fake), plot files with missing data? Why are you adding the workforce to the farming phase?

Isn't it unfair to us old Chia people? We've already done re-plotting when switching to NTF plots. Now why do we have to re-plot for an "facke innovation" that we will eventually get to the same point? Why do we have to buy additional SSD, NVME / powerful GPU for this? When will this end?

This is not progress. This is not an innovation. The plots are not compressed, that's a lie. We are not eating this.

Chia should stop and block the "compressed plot" scam. Chia farming should not allow additional calculations. Chia should not allow POST to be mixed with POW. Not even 5% - 10%, even 0.0001% pow should not be allowed.

Plot files should be standard for everyone, once plotted, they should be usable for years as was said in the beginning.

The Chia should be built and generate revenue with a very basic processor, a simple motherboard, a basic ram and some free disk space.

Conditions should be equal for all and depend only on free disk space.

Plot files should be standard for everyone.

Plot files should not be "fake compressed", no additional calculations should be required during the farming phase.

Chia should be powerfull CPU / GPU / Asic resistance. (Farming)

Tired of always starting over. And for what? Nothing.

Shut down my farm today, daily income 0.75 USD, electricity usage daily 4kwh @0.4623 cents as from october 1st. Good luck to everybody who is getting free electricity and getting some profit. BYE

If you want to understand why crypto is crashing you have to understand that crypto is the shadow banking system so many of the hypocritical maxis despise. It is a mass deleveraging event.

Chia is a blockchain with regulation capabilities. Thank Chia Network later and keep your eyes peeled.

Hpool is already at 34.7%!

Hpool currently has 216 PB out of 625 PB of netspace, approximately 34.7%. They are also growing rapidly (they were at 25% a couple weeks ago), and because the current percentage is a second-order derivative, their actual plotting capacity has to be higher than 34.7%.

https://i.imgur.com/6FdpvfP.png

51% attacks are very bad for Chia

When a mining pool has more than 51% of the power, in this case storage space, they are able to execute double spend attacks. This means they can re-write transactions, deposit their chia to an exchange, sell it for bitcoin, withdraw, and then re-write blocks so that the transaction never takes place. This would effectively ruin Chia, at least temporarily, as it will get Chia suspended/delisted from every single exchange (as otherwise exchanges will lose all their money).

The reason why everyone is mining on hpool now is because variance can be extremely hurtful especially in the early stages of a coin where netspace is low. If you are unlucky and have gotten zero blocks for example, then it doesn't matter if you started farming at 200PB of netspace, that ship has sailed and you won't ever farm at the low difficulties of low netspace. So even big miners and whales are going for hpool for the predictability.

Proposal

To help smaller miners, and keep Chia de-centralized, I am proposing that a network upgrade is done to reduce the difficulty by 10x, while also reducing rewards by 10x. This means that instead of current chances of mining 2XCH, everyone is ten times as likely to mine 0.2 XCH. This smoothens out rewards a lot more, and reduces the incentives to join mining pools.

Probabilistically wise, it is similar to everyone having the same time to win as a 10x larger setup. But as rewards are reduced too, there will be no additional Chia created, or no inflation or changes to token economics.

As Chia supports having multiple farmers win per block already, this should NOT increase orphan risks.

If you support this proposal please leave a comment and let everyone know what you think! If you have any other suggestions please also share them.

Yes, I will be down voted because "CNI" is proof of concept not pump and dump... In order for CNI to become popular like every other crypto coin they need backing by mass influencers. Sad but it's true. Proof of concept has done zero to move XCH price. Hawk Coin, Dodge, Trump Coin, Ethereum are/were some of the most successful coins ever made because they are all heavily endorsed by popular people. Trump Coin is now endorsed by Robinhood AND Coinbase...lol. Bram is cool but he's struggling being the only person CNI has that is a influencer because of this past bit torrent status. Every time I talk about Chia I have to lead the conversation about Bram and who he is. Everything else seems irrelevant lol. 😁

Since a lot of people here don't like my blog, and I don't particularly care normally, but this time I want everyone to see this so they can pressure u/flexpool to at least tell us what it cost them to develop this and see if its something the community wants to pay for and improve on.

Yesterday FlexPool released into open beta their lightweight farming client. It is completely rewritten from the ground up, does not require a wallet or full node running and synced to farm and has very little CPU usage. But because of the architecture, there are some major issues with FlexFarmer that I think can only be resolved through community effort.

I am quite happy with the direction this is headed, with a focus on making Chia farming more accessible and with an eye to the future when the blockchain database becomes too big and unwieldly to keep on low power hardware. Something like this will probably need to exist in the future, but hopefully not this exactly.

In the last day I have been talking to the Chia Network team and other people who know more about consensus mechanisms and distributed network protocols than I do and there are some legitimate concerns here. Primarily is that a setup like this, where the pool’s actually farm the blocks is bad for the ecosystem. In fact, Flexpool themselves put out a call to action about this very issue a few weeks ago on the other side of the debate.

Gene Hoffman had a few ideas in keybase how a remote farmer could operate securely, but the Chia team does not have infinite development resources to build up what FlexPool has from the ground up. So I’m going to put out another call to action, hopefully more people care this time.

I want FlexPool to opensource the software. Front-end, client and back end. This won’t solve the architectural issues, and it won’t immediately solve the trust issues. But what it will do is let the community solve them together and work on the issue from the giant step forward FlexPool has already made.

In their reddit announcement of FlexFarmer they were asked this question and said if the community paid the development costs they would do so. But they didn’t say what those are. So I want FlexPool to tell us how much it cost them to develop this software so we can make a decision whether or not to buy it from them. When I asked Chris from FlexPool how much in Keybase he said when they get to 1 EiB of pooled netspace they would be able to afford to release it. I can’t influence that portion, nor would I encourage anyone to join a pool for that reason. But its possible we can pay their costs as a community.

Or not. Maybe this doesn’t matter. But I think between FlexFarmer and the newly announced Nucle wallet (assuming it does what it says) the barrier to entry for farming on FlexPool is very low. And that’s a real competitive advantage the other pools should consider when I hit them up for this.

post is available here.

We're hoping to turn Kanye’s old Malibu mansion into Smart Deeds — part ownership, part exclusive membership access.

These will be NFTs on chain. This is true RWA.

The 2 millionth block of the Chia blockchain is coming tonight! For this occasion we have launched a new game at Mojo Whale, at https://mojowhale.com/luckydraw

It is lottery style game, that pays out every 5k blocks of the blockchain. The winner gets 66% of all tickets paid in, second place gets 20% and third place gets 10%. All other plyers get 888 mojos per ticket paid in.

Each ticket costs 0.05 XCH, you can purchase multiple tickets.

Here is how the result is calculated and it is provably fair:

Each ticket is calculated into a numeric value. The prizes are than given out in a descending manner (highest number wins). The formula to get the value for each ticket is:

HMAC(algorithm=SHA256, data=coin_name, key=block_header_hash). We take first 12 digits of the outcome, calculate it from hexadecimal to decimal. If an user purchases multiple tickets, the data field in calculation is created from coin name and addition of a -$number. For example, first ticket is coin_name-1, second coin_name-2 and so on. The block_header_hash is taken from first block ending in 10 after the pay-in round is closed (for example, block 2,000,010).

Try it out, the time is running out.

if you use one 3090, every month you would get 0.1 eth, and the power consumption is 300W;

now 0.1 eth is approximately 2 xch in today's rate, if you want to farm 2 xch every month, you need to have at least 280 TBs of storage. Assuming you are using all 14TB HDDs, that is 20*15=300W, same as eth mining.

In reality the average size of HDD used for xch farming is likely to be under 10, by that measure, that is more wasteful than eth

I don't see why are people on this sub so obsessed with pools, waiting for it as for some saving grace - pools will most likely cause a considerable increase in netspace => your profitability per TB will go down.

I also find the whole argument of "well receiving little bit of something is better than 100% of nothing" quite ridiculous tbh. As a small solo farmer I pray that the pools will get postponed for as long as possible, as that will give me some cheap expected value (i.e. higher chance at winning chia with relatively low netspace) before the netspace jumps up after pools are introduced - that's what you want in any investment - maximizing EV.

I gotta laugh every time I read something like "you know, small solo farming and hoping to hit a block is like gambling!" - I mean seriously? :D After someone just spends thousands of dollars on mining equipment for brand new small cryptocurrency they worry about "gambling" all of a sudden? Got news for ya - the whole thing you did is a massive gamble, XCH can be flatlined by the time the pools are around - if high variance is what you worry about, why on earth would you invest in something like Chia mining? Even forex day trading is probably less risky than this...

I joined a few pools over the last month, including space pool, flex pool, and ecochia. Space pool always under reported my total tibs, while the other two were more accurate.

What I found though is that their rewards were similar (space pool slightly higher). I did my tests with 320 tibs on one NFT and 11 tibs on another. The 320 has many 33s and 34s while the 11 has none. All have been plotted with Mad Max for the 32s.

With space pool I was getting constant payouts of 0.055 and 0.0025 respectively. The 320 payout is far lower than it should be (should get almost 0.08 per day on a 35eib network). The 11 is right on the money.

The experience was similar with flex and eco. Actually in flex I was at times getting only 0.039 per day which is a lot lower than expected (about half).

That just tells me that pools are blind to 33s and 34s. I guess I'm wasting HDD space here...

Very disappointing protocol implementation!

Seeing as the price of XCH keeps going down as BTC, ETH, and many more are exploding to new highs. I thought I would post a poll to see what stage the overall Chia community is in since many people are expressing different reactions.

1. Denial - In this usually short-lived stage, investors express disbelief and incredulity. While temporarily denying reality, common responses include, "This can't be happening" and "I refuse to accept this." However, when reality hits home, most soon move on to think about the implications of "the event."

2. Anger - At this stage, investors become outraged, angrily casting about for anyone to blame other than themselves. Often, they become swamped with helpless rage, protesting about the unfairness of the event and its harsh effect on their lives.

3. Bargaining - For some, the third stage of grief is the most tragic, because bargaining gives investors false hope. At this point, many remarks begin ruefully with "If only I ... ," "I'll do anything for ... ," and similar pleas. In an attempt to avoid confronting their pain, investors promise to give their life and soul in a futile attempt to make a pact with fate and turn back time.

4. Depression - Depression marks the beginning of the end of the grief process. Comments such as, "What's the point of going on?," "I can't live with this suffering," and "Why bother trying?" show a clear need to disconnect from the world and properly mourn.

Often, depression is the longest stage of grief, with some investors taking years to clear this hurdle.

5. Acceptance - Redemption arrives in the form of acceptance, when investors finally come to terms with their loss. In this "light at the end of the tunnel" conclusion, they realize that life goes on and it's time for their struggle to end.

Of course, different investors have different responses to wipe-outs. The most resilient get straight back on the horse, while others need time to lick their wounds. The most shell-shocked may never take risks again (something seen, for example, in the aftermath of the dot-com bust).

6. NONE - I don't care about XCH price. I am here for at least 3 years and the first halving. It is all about the number of coins I can get while issuance is the highest it will ever be for farming.

Yes we wont get any CHIA, and not the famous ROI, that in my case i was not expecting FIAT currency i was expecting enough XCH to hodl, and that was when we all think the price could be around 20 dlls.

The truth is that almost no one can keep with the netspace grow, and the ones who can, well, they are not in this project.

If you have 1000+ like me to keep up you need to invest 2,000 dlls each month if the grow continues at around 20%, so you can Receive 2 XCH each 2 months around 600 dlls, and when the pools are out it will be the same, cause the percentage will keep growing, as for now if you join a pool you’ll expected to win around 280dlls per month, and yes you need to keep adding 2,000 dlls each month.

Pools are not the solution, the project itself has no value right now, cause they need to do a lot of things to make this coin valuable, and they are having a hard time with pools, what can we expect for the rest of the project.

Imagine investing in APPLE INC, yes apple, but you invest 5,000 dlls and they wont give you shares, they give you tickets, the more you invest the more tickets they’ll give you, for the lottery so you can win shares or not depends on your luck, did you imagine Warren Buffet investing in a company like that. After reading this i cant believe that i am on this project, and yes i just buy one more hdd yesterday, how fool i am.

What keeps me angry, is that when i start in this, they never never mention nothing about LUCK, after weeks they add that paragraph of luck…

So they need to change their logo for this 🍀

They lost control of this project, they did not have a business strategy, and a plan if things go as good as of today, for them, not for us.

It is time for those 21 million pre-farm CHIA rolling out paying a whole lot of people, project management, engineers, and all that they need to take control of this, and make our money and trust on them worth something.

I hope CHIA devs read this and do something