Chia Cryptocurrency

[spammenotinoz]

There is the somewhat new CryptoCurrency created by the inventory of the Bittorrent Protocol that is based on Proof of Storage and not Proof of Work, or Proof of Stake. Claims to be a Environmentally Friendly Currency.

It's currently worthless (not trading yet), destroys SSD's, but I have found that it pairs quite well with my NVR deployments.

You Plot first this kills the SSD's, (need 280gb of temp space) to plot, then you store the plot on slow disk like an old NAS on the network.
Never plot on your system disk, but what is interesting is I shrunk 4 of my Purple Disks Down by 70gb each, then created a windows stripe and plotting speed is about the same as my dedicated machine with 2 x M.2 SSD's also stripped.
Found with an oldish i7, running BlueIris and Deepstack I can run 2 plots in parallel and no impact to BI.

I don't think Chia will make a lot of money, but I think many people here may have a few old disks lying around you could;
a) Prepare to sell as disk prices increase and become hard to find
b) Use your old disks to plot or farm chia

Or if you are considering buying more disk this year, buy it now before these crypto nutters create a shortage of SSD's and High-Capacity Hard Drives.

New cryptocurrency Chia is seeing hard drive prices in China surge higher

Prices of hard drives have surged in China on online platforms and in offline markets.

www.scmp.com

 

[laka1]

There is the somewhat new CryptoCurrency created by the inventory of the Bittorrent Protocol that is based on Proof of Storage and not Proof of Work, or Proof of Stake. Claims to be a Environmentally Friendly Currency.

It's currently worthless (not trading yet), destroys SSD's, but I have found that it pairs quite well with my NVR deployments.

You Plot first this kills the SSD's, (need 280gb of temp space) to plot, then you store the plot on slow disk like an old NAS on the network.
Never plot on your system disk, but what is interesting is I shrunk 4 of my Purple Disks Down by 70gb each, then created a windows stripe and plotting speed is about the same as my dedicated machine with 2 x M.2 SSD's also stripped.
Found with an oldish i7, running BlueIris and Deepstack I can run 2 plots in parallel and no impact to BI.

I don't think Chia will make a lot of money, but I think many people here may have a few old disks lying around you could;
a) Prepare to sell as disk prices increase and become hard to find
b) Use your old disks to plot or farm chia

Or if you are considering buying more disk this year, buy it now before these crypto nutters create a shortage of SSD's and High-Capacity Hard Drives.
Check this list of the best online casino https://lauria-music.com and play your favorite casino games such as poker, slots and roulette.

New cryptocurrency Chia is seeing hard drive prices in China surge higher

Prices of hard drives have surged in China on online platforms and in offline markets.

www.scmp.com

Interesting, thanks for sharing. Gonna find more info about it.

 

[RSYC]

There is the somewhat new CryptoCurrency created by the inventory of the Bittorrent Protocol that is based on Proof of Storage and not Proof of Work, or Proof of Stake. Claims to be a Environmentally Friendly Currency.

It's currently worthless (not trading yet), destroys SSD's, but I have found that it pairs quite well with my NVR deployments.

You Plot first this kills the SSD's, (need 280gb of temp space) to plot, then you store the plot on slow disk like an old NAS on the network.
Never plot on your system disk, but what is interesting is I shrunk 4 of my Purple Disks Down by 70gb each, then created a windows stripe and plotting speed is about the same as my dedicated machine with 2 x M.2 SSD's also stripped.
Found with an oldish i7, running BlueIris and Deepstack I can run 2 plots in parallel and no impact to BI.

I don't think Chia will make a lot of money, but I think many people here may have a few old disks lying around you could;
a) Prepare to sell as disk prices increase and become hard to find
b) Use your old disks to plot or farm chia

Or if you are considering buying more disk this year, buy it now before these crypto nutters create a shortage of SSD's and High-Capacity Hard Drives.

New cryptocurrency Chia is seeing hard drive prices in China surge higher

Prices of hard drives have surged in China on online platforms and in offline markets.

www.scmp.com

I’m not the most tech savvy person, but I figured that since my Blue Iris server was on 24/7 and my CPU load was around 8% that I would utilize it to farm chia as well. My server was bought 2nd hand at a flea market for $100, but had the 6th gen i7 chip. I spent another $250 to max the ram and install an 8TB WD red drive and partitioned it to have a 4TB blue Iris drive and a 3TB chia farm. Once I got Blue Iris running (which was about 2 weeks ago) I started to try to figure out the chia blockchain. I’m not sure what the problem was, but I wasted the first week stuck at 1% on my first plot. Somehow managed to get past that without really knowing what I did, but after plotting for the past day I am now working on my 4th plot (each plot has taken just shy of 9 hours to complete before it starts farming. Once my chia farm partition fills up I plan to plot on some external WD 10TB drives that I picked up for about $15/TB. There is a website that has a chia calculator that you can input your specs and it can give you a projection on your monthly income based on current XCH value (which at the time I checked was up to $623/XCH). I just came upon this thread when doing a search to see how many other people were doing this.

 

[spammenotinoz]

I’m not the most tech savvy person, but I figured that since my Blue Iris server was on 24/7 and my CPU load was around 8% that I would utilize it to farm chia as well. My server was bought 2nd hand at a flea market for $100, but had the 6th gen i7 chip. I spent another $250 to max the ram and install an 8TB WD red drive and partitioned it to have a 4TB blue Iris drive and a 3TB chia farm. Once I got Blue Iris running (which was about 2 weeks ago) I started to try to figure out the chia blockchain. I’m not sure what the problem was, but I wasted the first week stuck at 1% on my first plot. Somehow managed to get past that without really knowing what I did, but after plotting for the past day I am now working on my 4th plot (each plot has taken just shy of 9 hours to complete before it starts farming. Once my chia farm partition fills up I plan to plot on some external WD 10TB drives that I picked up for about $15/TB. There is a website that has a chia calculator that you can input your specs and it can give you a projection on your monthly income based on current XCH value (which at the time I checked was up to $623/XCH). I just came upon this thread when doing a search to see how many other people were doing this.

Great work, if you win a block the reward is 2 x Chia ~$1,200 at current prices. People have won with only 1 plot. I have 55 plots and forecast to win a block within 3months (but that period is increasing as the network growth is insane). As for my first post, just be aware that plotting kills your SSD's,
Older SSD's despite warranty's having lower TBW volumes were greatly over provisioned so you can usually get a lot more out of them. Samsung and IBM are good examples where the newer drives may offer 300 TBW for a 512gb drive but likely fail shortly after 300 TB, where their older drives have smaller TBR but you could generally write 1-2TBW. I am using an older IBM 960GB Enterprise SSD rated for 5PBW, so I should be good for a while. Bit hard to find now, but second hand enterprise drives can be good value, it's just prices have gone insane now.
16TB drives are either out of stock everywhere, or asking 40-60% more in price.

I would recommend for anyone thinking of getting into it, wait until pools are launched (as you may need to re-plot or at least update your plots) as plots are linked to a pool.
Use second hand or spare hardware, wouldn't recommend buying new hardware as prices are crazy and Chia itself seems over priced, can't see that price holding.

 

[achalmersman]

I'm doing it and so far its been a bust. A real pain in the ass, no real indicator of how much "luck" is involved etc. I have almost 18TB of plotted space filled. One thing that's irritating me is the lack of troubleshooting / explainations. Right now I'm trying to figure out why lookup times are 6, 10, 15 seconds etc. My plots are stored on a TrueNAS system with 10gbe uplinks, 4 - 6 disk Z2 vDEVs pool (very fast considering spinning disks) and my lookup times are still questionably too long. So far its a lot of work for nothing and I havent even spent money. Just re-using equipment I've acquired over the years. Oh and yes the farmer has a 10gbe link as well.

 

[spammenotinoz]

I'm doing it and so far its been a bust. A real pain in the ass, no real indicator of how much "luck" is involved etc. I have almost 18TB of plotted space filled. One thing that's irritating me is the lack of troubleshooting / explainations. Right now I'm trying to figure out why lookup times are 6, 10, 15 seconds etc. My plots are stored on a TrueNAS system with 10gbe uplinks, 4 - 6 disk Z2 vDEVs pool (very fast considering spinning disks) and my lookup times are still questionably too long. So far its a lot of work for nothing and I havent even spent money. Just re-using equipment I've acquired over the years. Oh and yes the farmer has a 10gbe link as well.

Troubleshooting can be difficult, glad you found the debug logs.
You should get a block within a month, more regular if you join a pool (when supported).
I was using a nas had similar issues but changed to using ip and avoided writes while farming.
I not have disks attached to windows boxes and share drives over standard wifi, lookup times are below 5sec. You shouldn’t miss out unless lookups are more than 20seconds as you have 30secs to respond.

Good luck

 

[RSYC]

The sub Reddit is full of people that have posted screenshots of their chia blockchain winning blocks after just plotting a few plots, but for each lucky winner is probably thousands of people with 500+ plots farming for the past month and winning nothing. Early adopters had much better chances before the network blew up in size and since it was featured on CNN the growth has just been getting crazier. Once my drive fills up I’ll keep it solo farming, but after the 17th I plan to use my external drives to pool plot just to smooth out my chances at winning. Just think of it as getting lottery tickets for nothing since your hardware is already running for Blue Iris and you are repurposing what other equipment you already had so you can’t lose.

 

[achalmersman]

Yea I'm going to spin up another TrueNAS box with around 200TB of storage. Ill risk it for a few months to get a feel for it.

Sent from my SM-G965U using Tapatalk

 

[RSYC]

There is a community driven direct fork of Chia called Flax. Unlike Chia there isn’t a 95% premine. The Network is new enough that you can jump on the bandwagon and actually earn some XFX whereas the only way to get any XCH on the Chia network is to join a pool (which isn’t even supported yet) or have super luck equivalent to winning the powerball lotto And actually winning a block reward. Since its the same protocol as Chia you can farm both at the same time. Network space on Flax is right now at 4.058 PiB whereas Chia is at 24.511 EiB. Flax just went live yesterday so there’s hope for those that missed out on being an early bird on Chia

 

[spammenotinoz]

There is a community driven direct fork of Chia called Flax. Unlike Chia there isn’t a 95% premine. The Network is new enough that you can jump on the bandwagon and actually earn some XFX whereas the only way to get any XCH on the Chia network is to join a pool (which isn’t even supported yet) or have super luck equivalent to winning the powerball lotto And actually winning a block reward. Since its the same protocol as Chia you can farm both at the same time. Network space on Flax is right now at 4.058 PiB whereas Chia is at 24.511 EiB. Flax just went live yesterday so there’s hope for those that missed out on being an early bird on Chia

Thanks got it working, although the network size is now already 144PiB. Good to see some growth.

 

[RSYC]

Right now I'm trying to figure out why lookup times are 6, 10, 15 seconds etc.

Were you ever able to resolve your lookup time issue? As long as they exceed 5 seconds you’ll probably never be eligible to win any blocks. There’s tons of tech support over at the space pool discord channel run by Caleb Curry from Coin Breakthrough. I saw numerous people with the same issue who were using NAS systems who were helped by the techies from Mission Control but I’m not technologically advanced enough to understand the solutions. Suggest you try over there if you are still having issues

 

[RSYC]

Thanks got it working, although the network size is now already 144PiB. Good to see some growth.

Wow! Growth is exploding since people are hearing about it and can direct their already plotted farms to start farming right away instead of having to replot. Even if this never takes off it is an interesting project and can be done on equipment you already have running for other purposes -ie Blue Iris server and with early implementation at least my estimated time to win on Flax is in days compared to the years on Chia‍♂

 

[spammenotinoz]

Still think this is a great project, Although I have 700plots and nothing. No real errors in the debug log. Hope everyone has better luck.

 

[bp2008]

Frankly I am happy to look back at Chia a year later and find its price graph looks like this:



I didn't want storage devices to become the new money printing machine then, and I still don't now.

 

[hajalie24]

lol damn that's a huge drop

 

[mat200]

I used not to trust cryptos, but they are doing much better now than they used to. I know that they are still not very reliable, but I want to invest in them now and see what happens.

Welcome @Bilmocraig

"I used not to trust cryptos" - what has changed that you now trust it???

 

[fenderman]

Welcome @Bilmocraig

"I used not to trust cryptos" - what has changed that you now trust it???

User was a spammer. Removed.

 

[EdnyPope]

Though it's not trading yet, I've been experimenting with it in my NVR deployments. The process involves plotting, which can be a bit resource-intensive and hard on SSDs, but storing plots on slower disks like old NAS systems works well.
Personally, I don't think it'll make me rich, but it's a fun project. Plus, it's a great way to use those old disks. You can either hold on to them for a potential price increase or use them for plotting and farming Chia.
One word of advice: if you're planning to buy more disks, you better do it before the crypto craze causes a shortage. By the way, have you considered using a white label crypto exchange for your trading needs? There's this platform called Tinytrader that looks promising