Chia (XCH) price – is it worth investing and mining?

Chia (XCH) price – is it worth investing and mining?

I am always asked this question, however, it is not easy to answer. The current Chia price seems attractive, but -in my opinion- will definitely fall further. Perhaps even below a cost-bearing threshold.

If we look at other cryptocurrencies here, it should be clear that cryptocurrencies always have very high volatility – especially at the beginning.

The Chia network has been built for several years and plots from the RC versions can be used in the mainnet. I.e. long term supporters had a small starting advantage in plotting, which I personally think is quite fair. Nevertheless, the network size has increased enormously in the last weeks, namely from 500 PiB to 2695 PiB. While this ultimately reduces the chances of winning, it strengthens the network as such, ensuring a better Chia course for the future.

With 100 k32 plots, the chance of winning is currently (07 May 2021) 1 month and 2 weeks.

The question of whether it is worth investing in hardware to farm (mine) Chia can ultimately be judged only later, namely when the price has stabilized and / or increased dramatically in a few years. Also a loss of the investment is conceivable, if Chia or XCH falls to a price close to 0 EUR.

However, farming Chia is also quite possible in Western countries, because for one thing, electricity costs are much lower than for other cryptocurrencies, and for another, farming is also possible with consumer hardware.

Note: This text is protected by copyright

Please send coffee donations to: 0xd0803A568615A18403C3722AC6dBb3202FD14034 (Ethereum)

Leave a Reply

Your email address will not be published. Required fields are marked *