Chia Coin Mining become unprofitable - the coin has fallen in price by 3 times

[Zardbeig]

A few weeks ago, hard drives began to fall in price, and some models are already 2 times lower than the May values. Everything is clear here: over the past month, the price of Chia has fallen by 3 times.

It becomes obvious why there is no hype for hard drives. Even if you imagine that in 2 months you will receive your 2 coins (2 Chia per block), then this will give you only $ 530. While we spent nearly $ 6,000 on 5 drives. With ever-increasing complexity, with a random chance and a falling cryptocurrency in price, it is impossible to return the investment.

So let's think about what other coins we can mine and earn.

1. Dogecoin. New blocks are discovered approximately once every minute on the Dogecoin network. For comparison, Bitcoin blocks are discovered approximately once every 10 minutes.
2. Monero. A Monero block is mined every 2 minutes, and we know that the current reward for mining transaction block is 4.99 XMR. So, by doing the simple math, we know that 1 XMR is mined every 24 seconds.
3. Crypton. You will receive Cryptons every 15 minutes (block generation time). You will also get Proof of Stake rewards on your Minimal Monthly Balance.

On the whole, such coins are worth mining as they're more eco-friendly than Bitcoin is, it requires less time for mining and fewer investments for mining.

Which eco-coin do you prefer more? Or green coins are just kind of hype now?

[Marryan]

Hmm, I don't know. I don't like what is happening in the crypto market. In addition, using the example of chia, I am suspicious of the projects that Elon Musk praised. Also, given the current trends, green projects are likely to be popular. Therefore, perhaps krypton is the best solution. IMHO

[Zardbeig]

Well, I'm interested if you decided to participate in their new promo action for miners https://www.altcoinstalks.com/index.php?topic=223611.0 ? If you already mine, it would be only an additional bonus for you. As you could also get a part of the prize pool. I think we'll see many new users around Utopia p2p.

[Marryan]

Cool. Thank you for the information, Buddy
 I think that I will be happy to take part in this action. And you?
It seems like a very good ability

[Zardbeig]

Of course, I'm in. I think it's something people were waiting for. As it's a free and good opportunity to get good money in addition to mined coins. And just imagine how much you could mine during 3 months, when you can run up to 50 mining bots from 1 PC!

[Marryan]

You know, I took part in the last AMA, which was this week. And in its course, representatives of utopia have already told about mining. To be honest, I am very impressed with the opportunities that utopia provides. In addition, if we do not forget that the project remains eco-friendly and energy-saving.

[Zardbeig]

Nice to see when people care about the project and give a feedback to the users. As in case with chia, no one can get any answers. And eco-friendly coins are the future. Thanks to such promo actions, people can learn more about the coin.

[Marryan]

Yes, you are absolutely right, such promos are what the crypto market needs now. Therefore, I am glad that I had the opportunity to take part in it.

[Zardbeig]

Just don't forget to fill-in the participant's form and send the reports in a mentioned time. As in other case you won't be able to participate in the prize pool drawing and will only get your mined coins as usual.

[Marryan]

Okay I hope that at the end of the promo campaign, more users ' attention will be paid to Crypto and the ecosystem in particular. I believe that the decline of the crypto market is the best time for something new.

[Zardbeig]

Yes, it is. But no one promised that the coin will rise soon. No one can affect it. And on the whole, I hope that at least the idea of the project will attract new users. As when the mobile application will be released - I believe it will become #1 alt-tech project worldwide.

[Marryan]

It is quite possible. During the entire existence of the Utopiap2p, there has not been any data security scandal. In addition, the software developers do not hide that they support the idea of freedom of speech and anonymity.

[Chloe Shappe]

let us be hopeful that the coin's value will rise again anytime soon. just remember that bitcoin has fallen more than three times this year but it  is slowly recovering.

[Zardbeig]

let us be hopeful that the coin's value will rise again anytime soon. just remember that bitcoin has fallen more than three times this year but it  is slowly recovering.

That's logical, but you should never compare chia and Bitcoin.. Btw, have you heard about stable anonymous coins? Utopia p2p just launched UUSD stablecoin which is 1:1 to US dollar. Now we have a chance to keep our crypto in a safe position without any risks.

[Marryan]

OFC, buddy! I saw the news about this on Twitter. Well, such an update can not be considered bad. I think that this has a great benefit for users.