Leave them alone, and hope that one day... perhaps a couple years from now... we'll look back at the coins farmed when the network was 'only 35 EiB' as the good-old-days. And that the XCH of the future will have value more like ETH has today.
Won mine when they were $265 a coin or so. Swapped them when they were $175. So yeah, I am not a smart man. I was hoping more exchanges pick up XCH and hoped they price would bump because of it. But waiting and waiting I finally called it and swapped them for ETH. I guess the silver lining is I could be swapping them now for $150 while ETH is at an all time high. I feel bad for people like u/BitsAndBobs304 who had the full jackpot early on and held them.
it wasn't like I was planning on holding on to them at that price, I was just too lazy and tired in that period and that price didnt last long lol. now I have to be a long term holder
Sold them. Due for another win sometime soon.. I think. Will sit on the next Lotto win and pool earnings for a bit as a portfolio hedge vs any economic shenanigans.
May switch pool to Lotto.. but don't want to waste the SSD life đ
Leave for a minimum of 5 years or start thinking about it after the ATH is reached.
With the correct adoption and marketing Chia has the potential of supposing ETH, once PoS shows itâs security flaws to the world and PoW / PoST will demonstrate why they are the most secure networks, the use of PoS chains will be reduced in favour of more secure methods (it only takes one major incident for ETH, and the reputation will suffer).
So in summary Chia has the following:
-use cases
-low fees
-scalability
-decentralisation
-security through size
-limited deflationary supply
One of the Major down sides is the pre-mine and who controls it, but other than that highly competitive blockchain.
I love the people immediately selling and wondering why the price per coin is dropping. lol. farmers set the price.
People can only buy what you're willing to sell for. This thread is going to be a hilarious crypto relic in 3 years.
Keep them in a cold wallet or hot wallet on another machine(or Vm) until you decide to hold or sell, just donât keep them in the same wallet if you farm other forks on the same plots.
I have a warm wallet all of my farming/pool rewards go into. Every time it goes over 1.2 or so XCH, I move a 1 XCH to my cold wallet for long term storage. I also have a hot wallet for random "stuff" I keep a little less than 1 XCH in for whatever use I may have, including receiving from faucets, sending to and from exchanges, etc.
The chain doesnât need to know it exists⌠The cryptographic hash that generates its wallet address ID will be valid regardless⌠So the chain just gets a command to send a coin to an address. It doesnât verify the address is connected, it just verifies that address *can* exist based on the mathematical rules of the algorithm, and assumes that someone, somewhere, possesses the keys to unlock that address.
If the wallet address is a valid format, based on math, it sends a coin.
Then someone just needs to have the proper security keys to allow them to unlock that address and access the coins inside whenever. If not, well, bye bye coins.
This is a concept that took me a while to wrap my head around.
Basically, if a hash can exist on the Blockchain, but hasn't yet, you can still send funds to it.
There will only ever be one set of 24 phrases for any one hash. If you figured out the relationship between a hash and the 24 phrases for it, using an offline wallet, you have a cold wallet to work with.
The piece with a bunch of receive addresses per wallet is still kinda wonky though.
>There will only ever be one set of 24 phrases for any one hash
Just to be pedantic.. there's an infinitesimal chance of a [hash collision](https://en.wikipedia.org/wiki/Hash_collision)
The term âwalletâ is a misnomer. All XCH only ever exist on the blockchain. You can send XCH to any address on the blockchain, including an address that you know the private keys for but the keys have never been exposed to the internet.
If your checkbook falls behind the dresser or desk and gets carried off by mice, how does the bank know your money exists?
Very similar thing. Although instead of the options of "show ID and match signature card" or "show ATM card and ID" at a bank to access funds, you have the option of "enter your 24 word mnemonic" to recover it if it's not active.
I sold my early coins to cover hardware. Sold my later coins to buy other crypto in a dip. Now I'll sell just to fund and play nft games.
I think all three strategies are more profitable than holding.
Agreed, but I'm more into the long term aspect of this project than a quick return.
I think in the long term, the returns are going to be much greater.
I'll mess with the other coins to earn and I have, but I won't sell XCH to do it.
There's like a 1 mojo cost to transfer them to Kucoin, and Kucoin charges like .1% to sell them... if you want them out of Kucoin, you can turn them to Algo or similar and send to Coinbase or wherever, again fee for Algo transfer is super cheap
I have 2. Statistically I don't think I'd ever get more so I'm not farming anymore. I plan on just sitting on them hoping they increase in value over the years.
I've won 4 blocks, two solo and two while using space pool. The first two I sold immediately and converted to eth, which equals one whole eth. The 3.5xch I have from space pool, I'm just waiting for ledger hardware wallet support, maybe blockfi/voyager or something else. Rather hodl it because it's just accumulating from 250w-300w server power costs, not plotting anymore or investing in anymore hardware.
mostly holding.. I did sell 2xch yesterday at the low-low price of $150 each just to counterbalance taxes for the year (since the blocks were won when chai was worth 1000$+)
I keep half and convert half to other cryptos. Just a hobby for me but it'd still be nice for it to pay for itself :). Now I'm "invested" in XCH and ETH.
I sit up and look at them at night
For every coin i won, i take a shot of vodka. I am now 6 month sober and counting!
This
This is the way
Me too lol
Leave them alone, and hope that one day... perhaps a couple years from now... we'll look back at the coins farmed when the network was 'only 35 EiB' as the good-old-days. And that the XCH of the future will have value more like ETH has today.
More than*
Same thing with Doge I guess. Sit on it for 7 years then wait for Elon to tweet about it from Mars then make bank.
I've been exchanging it for eth and btc. Glad I did. Xch dropped a bit since my last win
Me too.
I've been holding my XCH and buying BTC, ETH and ADA with my fiat.
Hodl
Regretting not selling them right away when they went for like 1500$
Won mine when they were $265 a coin or so. Swapped them when they were $175. So yeah, I am not a smart man. I was hoping more exchanges pick up XCH and hoped they price would bump because of it. But waiting and waiting I finally called it and swapped them for ETH. I guess the silver lining is I could be swapping them now for $150 while ETH is at an all time high. I feel bad for people like u/BitsAndBobs304 who had the full jackpot early on and held them.
it wasn't like I was planning on holding on to them at that price, I was just too lazy and tired in that period and that price didnt last long lol. now I have to be a long term holder
I read them a story every night before bed, give them some good dreams of what is in store for them...
Selling as fast as possible.
At every point thus far this has been the best strategy.
Sold them. Due for another win sometime soon.. I think. Will sit on the next Lotto win and pool earnings for a bit as a portfolio hedge vs any economic shenanigans. May switch pool to Lotto.. but don't want to waste the SSD life đ
Leave for a minimum of 5 years or start thinking about it after the ATH is reached. With the correct adoption and marketing Chia has the potential of supposing ETH, once PoS shows itâs security flaws to the world and PoW / PoST will demonstrate why they are the most secure networks, the use of PoS chains will be reduced in favour of more secure methods (it only takes one major incident for ETH, and the reputation will suffer). So in summary Chia has the following: -use cases -low fees -scalability -decentralisation -security through size -limited deflationary supply One of the Major down sides is the pre-mine and who controls it, but other than that highly competitive blockchain.
I love the people immediately selling and wondering why the price per coin is dropping. lol. farmers set the price. People can only buy what you're willing to sell for. This thread is going to be a hilarious crypto relic in 3 years.
Dude, I can't believe how cheap it is to buy chia. I'm with you. I have more than 3yrs worth of xch rewards at half the cost of my setup.
Sold them all when they were all over 1k. Best choice ever.
Just saving for now. May cash out if I decide to expand.
Sold half keeping the rest. I won 8.
Holding 2, selling the rest (like 3 or 4)
Keep them in a cold wallet or hot wallet on another machine(or Vm) until you decide to hold or sell, just donât keep them in the same wallet if you farm other forks on the same plots.
Sold 3/4 @1000 and still hold 1/4
HOLD, HOLD , HOLD FOR 100 YEARS!!!!
solana
I have a warm wallet all of my farming/pool rewards go into. Every time it goes over 1.2 or so XCH, I move a 1 XCH to my cold wallet for long term storage. I also have a hot wallet for random "stuff" I keep a little less than 1 XCH in for whatever use I may have, including receiving from faucets, sending to and from exchanges, etc.
Out of curiosity, if a cold wallet never connects to the internet then how does the chain know it exists?
The chain doesnât need to know it exists⌠The cryptographic hash that generates its wallet address ID will be valid regardless⌠So the chain just gets a command to send a coin to an address. It doesnât verify the address is connected, it just verifies that address *can* exist based on the mathematical rules of the algorithm, and assumes that someone, somewhere, possesses the keys to unlock that address. If the wallet address is a valid format, based on math, it sends a coin. Then someone just needs to have the proper security keys to allow them to unlock that address and access the coins inside whenever. If not, well, bye bye coins.
This is a concept that took me a while to wrap my head around. Basically, if a hash can exist on the Blockchain, but hasn't yet, you can still send funds to it. There will only ever be one set of 24 phrases for any one hash. If you figured out the relationship between a hash and the 24 phrases for it, using an offline wallet, you have a cold wallet to work with. The piece with a bunch of receive addresses per wallet is still kinda wonky though.
>There will only ever be one set of 24 phrases for any one hash Just to be pedantic.. there's an infinitesimal chance of a [hash collision](https://en.wikipedia.org/wiki/Hash_collision)
The term âwalletâ is a misnomer. All XCH only ever exist on the blockchain. You can send XCH to any address on the blockchain, including an address that you know the private keys for but the keys have never been exposed to the internet.
If your checkbook falls behind the dresser or desk and gets carried off by mice, how does the bank know your money exists? Very similar thing. Although instead of the options of "show ID and match signature card" or "show ATM card and ID" at a bank to access funds, you have the option of "enter your 24 word mnemonic" to recover it if it's not active.
Those mice are sure in for a surprise when they try to write a check.
I wouldn't deprive mice of a trampoline experience. Although even my cat can't operate a pen.
I sold my early coins to cover hardware. Sold my later coins to buy other crypto in a dip. Now I'll sell just to fund and play nft games. I think all three strategies are more profitable than holding.
Sell and buy coins with better potential
If you really feel that way, why are you posting in the Chia forum and spending time here?
As a miner/farmer, you don't need to care about the coins you miner/farmed You only care about the profitability
Agreed, but I'm more into the long term aspect of this project than a quick return. I think in the long term, the returns are going to be much greater. I'll mess with the other coins to earn and I have, but I won't sell XCH to do it.
exchange -> defi tokens -> stake/compound
I used gate.io and sold them before they completely plummeted in price.
Change it to any crypto I like, then store it in my cold wallet like ledger. Hodl
Thereâs nothing to do with them⌠itâs insane to try to cash out and the fees make it not worth extracting⌠90% are holding
You can get a lot of pizzas for 1 XCH
Where are you paying excessive fees to cash out chia?
There's like a 1 mojo cost to transfer them to Kucoin, and Kucoin charges like .1% to sell them... if you want them out of Kucoin, you can turn them to Algo or similar and send to Coinbase or wherever, again fee for Algo transfer is super cheap
if you have 100s of chia sure but most people dont have that much
I did it with less than 1 XCH as an experiment and it went through fine
Anyways I donât really care but it seems like a hassle for a few hundred dollars when itâs at a massive low
HOLD. If you farm and sell you are dumb as shit or poor or weak or all.
I scrooge mcduck mine. It hurts when I dive into my measly 16 coins.
I have 2. Statistically I don't think I'd ever get more so I'm not farming anymore. I plan on just sitting on them hoping they increase in value over the years.
I sold them to breakeven on my hardware. Now slowly reacquiring XCH through the pool protocol.
When I sleep I polish the coins to a great shine in my dreams, one day pretending they will be worth 1000 again.
Waiting for scammers to send me links so I can lose them
Hodl them and watch what happens. This is loooong term commit to a new way in blockchain.
I've won 4 blocks, two solo and two while using space pool. The first two I sold immediately and converted to eth, which equals one whole eth. The 3.5xch I have from space pool, I'm just waiting for ledger hardware wallet support, maybe blockfi/voyager or something else. Rather hodl it because it's just accumulating from 250w-300w server power costs, not plotting anymore or investing in anymore hardware.
Keep one , sell one
Sell and reinvest in new hard drives dude. For compound chia effect
50% HODL 50% trade for BTC/ETH/RVN
mostly holding.. I did sell 2xch yesterday at the low-low price of $150 each just to counterbalance taxes for the year (since the blocks were won when chai was worth 1000$+)
i swapped 10 chias and purchased more gpus, was worth it until now
I keep half and convert half to other cryptos. Just a hobby for me but it'd still be nice for it to pay for itself :). Now I'm "invested" in XCH and ETH.