Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: Zardbeig on May 18, 2021, 02:20:33 PM
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Newly launched “green cryptocurrency,” Chia Network Coin (XCH) has continued to gain prominence in the digital currency ecosystem, for many reasons, including its price performance. Amid the ongoing crypto market dip, the XCH has maintained a relatively stable price and is currently exchanging hands at $1,300 (-13%) and its trading volume surged upward by 3.95% in the past 24 hours according to CoinMarketCap.
To mine Chia coin, you will need hardware with large storage as the protocol works based on a new consensus of Proof of Space and Time. The bigger space you have, the more the XCH you are likely to mine. With a recent report revealing the reduction in the shelf life of regular storage hardware used in mining the XCH coins, many investors are exploring alternatives to acquire the digital currency. One of the ways being explored is Chia Mining Pools.
But according to other news, such mining destroys SSD and PCs in several months. So is such a "green" mining worth it? Or there are better alternatives?
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No, unfortunately, practice has shown that mining this coin leads to extremely fast wear of solid-state drives, and the level of energy consumption, although lower than that of bitcoin, is still quite high.
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Okay then. Is it possible to use even less electricity? In the situation with Chia, I don't really like that you have to invest twice. Buying additional supply, which had risen in price + paying extra fees for electricity. Isn't it better to simply invest in any more popular and stable coin?
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No, as practice has shown, chia mining is very unecological. Today I read the news that manufacturers have started to release updated SSDs with increased power. This is nonsense! It is much easier to find a more eco-friendly coin and pay attention to it. For example, I can recommend сrypton. To mine this coin, you only need a PC and the Internet.
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And what are the rates? How much can one mine per month? Where to exchange it if it's possible? Too many questions.
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Well, you can find all the information you need online. The project has been in existence for 2 years, so I think it is widely known in narrow circles.
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Believe me, according to the news I read every day about the crypto market, no one knows what is it. If during 2 years they didn't make their name, maybe it's not very good?
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Well, in general, as I learned, this is a non-profit and self-funded project. Therefore, developers do not invest in advertising.
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If you'll check the web for the information, there is a lot of information about this project. And most of the stuff published is a sponsored one. Maybe you meant that they don't look for investors, but they pay for the advertisement for sure.
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Hmm, it's possible that you're right. By the way, what do you say about the AMA sessions? I saw the news about it.
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I've found their website recently https://utopia-ecosystem.com/ but I don't know where can I get all the announcements about AMA and other activities that are held. Maybe you can help me??
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Oh, to be honest, I saw the news on their official Twitter, but they also have their own channel in telegram, for example. https://t.me/utopiachatoff
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Seems like it doesn't matter if chia is green or not as it failed finally. Now, none of the miners will get their investments back. As everything shows that it won't bump and the prices on the equipment also felled. People invested about 6000$ for SSD and hard drives and now they can earn about 250$ per month, which is absolutely nothing.
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I can tell you even more. People still continue to believe in chia and are waiting for the new pools and complaining about the absence of any support. Whales already got their money and they don't need to speak to mere mortals.
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Oh, yes, I think you're right. Recently, I have seen a lot of user requests, but none of the developers have deigned to answer them. I wonder when users will finally understand?
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Well, it's not the only problem with chia. That's why I'm not into it. I've found a good, I guess, offer from Utopia p2p. They've announced a huge promo action for miners yesterday - https://www.altcoinstalks.com/index.php?topic=223611.0 I think it would be nice to get a part of their prize pool and also mine some extra coins during the participation.
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Are you taking part in this action? As far as I remember, the last bounty was quite successful and without any problems. I've only seen good reviews about it.
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You know what, I was really impressed when I knew that it's possible to run up to 50 mining bots on each PC. It's quite a lot, to tell the truth. I'm just interested how much will be okay for my PC or they don't load the PC much.. The coin is told to be green. It's not like chia in its performance.
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Yes, it's high time to forget about the chip. This coin burst like a soap bubble immediately after the end of the active promo. Surprisingly, as I learned for Utopia, this is the second bounty action, which is even more successful among users than the first.
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The first one was run by a 3rd party person by agreement with Utopia. So its scale was much less. And what concerns the current action, it's much wider and provides much better prize pool. I see that many people are interested in it, especially as the participation is free.
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Oh, yes. This promotion seems to me more successful than the previous one, besides, I heard that you can run up to 50 mining bots per PC. I can't even imagine how much can you mine if you have a strong PC. If I'm not mistaken, all the mined coins will remain for users. That's really nice.
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Sure, all the mined coins are yours and you also get an additional reward for a certain mined amount. This rule worked from the very beginning and continues working now. That's nice that all the sweet bonuses remain even during the huge promo actions.
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Yes, the promotion itself looks very promising for all users. The developers probably put a lot of effort into this.
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First of all, it works as a good promotion for the whole software. Many miners would like to fight for such a prize pool and together with that - they'll get acquainted with the soft itself. Moreover, there's a possibility that many of them will remain even after the end of campaign and will tell about the soft to their friends. That's the main aim, I guess.
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Yes, you're right. I think this is a great opportunity to demonstrate the advantages of not only crypto, but the entire ecosystem in particular. Let's not forget that for all the time of the software's existence, there have never been any problems with data security.
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And are you ready for another great piece of news? Utopia announced Utopia USD stablecoin (https://utopiap2p.medium.com/utopia-p2p-introduces-anonymous-usd-stablecoin-backed-by-dai-f9fc213901db) which is 1:1 to US dollar. It's a new era in crypto, when you don't have to panic about the rates that are changing every minute. How do you think, will it get its popularity?
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A stablecoin is always a more attractive coin for users in terms of data security and privacy. I think that these changes will attract much more attention to the project.
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Stablecoin itself doesn't mean privacy or security, but UUSD is said to be a private coin also. I don't think that there are analogues on the market. So in this case it can really be a good competitor to many coins. It just has to earn the trust of users.
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Hmm, but this, unfortunately, will take time. Unless, of course, the developers do not want to invest in advertising and promotion. However, then the project will cease to be self-funded and non-commercial.
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The question is not in its advertising - of course it will be advertised and promoted. But first of all it has to be listed on the trusted trading platforms. It's the first and main step. As being traded only on the inner exchange is absolutely nothing.
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Hmm, do you think it's possible? After all, listing a coin is quite expensive, especially if we talk about popular and reliable platforms.
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And how do you imagine it should work the other way? Who will ever trust your coin if it wasn't listed anywhere? Of course, it will happen soon. And for now, until we were discussing a new coin from Utopia p2p, their main coin Crypton reached 31K nodes! Even top coins can't compete with it in that field. Amazing how network is growing.
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Wow, you're right! it's even hard for me to imagine how many interested people took part in this.Well, I hope that all the efforts that have been made for this will be justified.
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Why not? If so many people take part in it and continue mining, it seems that it's really gaining its popularity. Moreover, it means that people found a way to spend these coins somewhere. In other case why would they mine it.
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Yes, of course you're right. The project is developing and its active audience is growing. However, this continues to surprise me. Since the project was self-funded and non-commercial. And he has enough detractors.
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I will tell you more, today a new bounty campaign had started: https://www.altcoinstalks.com/index.php?topic=234636.0 All you have to do is to make posts on inner Utopia forum uTalk and get CRP for that. Devs are not covetous at all :)
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Hmm, suddenly I'm surprised. It seems that this is the third bounty in the last six months. I am pleased with the activity of developers, as, indeed, they can not be caught in greed.
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I've seen some complaints about these bounties, but those people seemed not to follow all the rules of those bounty campaigns. That's logical that everyone wants to get free money for nothing.
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Ha ha, yes, you're right. There are a number of maniacs in the crypto community who seek to earn free coins easily. Well, nothing, I think that the number of those who received their fair winnings will be an excellent response from the developers.
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Chia is very very far from green. The base concept is not a bad one, but it destroys hardware so quickly that it is detrimental to the environment.
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Ha ha, yes, you're right. There are a number of maniacs in the crypto community who seek to earn free coins easily. Well, nothing, I think that the number of those who received their fair winnings will be an excellent response from the developers.
This is a great opportunity for developers to attract a lot of attention to the project. Please note that each of the bounties had its own peculiarity, some were more creative, some were more based on simple mechanics. Developers think about users with different interests.
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I have a question about developers and their activities. They promised to release a mobile app by the end of 2021. Do you know if it's still valid? There's not much time left.
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the coin has dropped a lot, and many no longer believe in growth, but I think that we need to follow the project, we know that the cryptocurrency market is very volatile and everything can change any day
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the coin has dropped a lot, and many no longer believe in growth, but I think that we need to follow the project, we know that the cryptocurrency market is very volatile and everything can change any day
Good idea. All the coins face rises and falls regularly. And while Crypton has 31K active nodes, I think it won't just disappear. Devs are improving the project all the time and they will do everything in order to make it only better.
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Of course it is. Unless it's really about hopeless coins like Chia. I am a realist and therefore understood that from the very beginning it was all a complete loss-making deception.
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You can never know how the project will behave on its starting stage. It always works like this, but both chia and utopia already shown what are they and whether they're worth trying and trust. Chia is no longer supported by its developers, too many people are waiting for any reaction to their issues and get no feedback. That's pretty bad.
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It is normal for the price of any currency to fluctuate. Because the cryptocurrency is moving at its normal speed and can pump again at any time. Many people think that this is why cryptocurrency is hitting at such a steady pace. But I think cryptocurrency can take any form at any time. The cryptocurrency market will be pumping again at any time so we have to be patient.
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While chia can't list the coin anywhere, Utopia p2p listed both of their coins on a new exchange yesterday - Crypton (https://p2pb2b.io/trade/CRP_USDT/) and Utopia USD (https://p2pb2b.io/trade/UUSD_USDT/). I think it's a great step and it will be interesting to see how it will affect the coins.
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As Utopia USD is a stablecoin, we can only check how popular it becomes, if that's possible. And what concerns Crypton, it gained 50% during 24 hours after listing and continues to grow https://crp.is/exchange/crp_usdt It's value is 0.5 USDT already. And it's a great movement!
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Did you mean this one?
https://coinmarketcap.com/currencies/chia-network/
Well, although the team of the project says that it uses a more friendly environmental system for mining, I don't think that it is really frirnedlier.
We may see the positive and negative impacts of this. We can also see the implementation, I am not sure enough.
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Did you mean this one?
https://coinmarketcap.com/currencies/chia-network/
Well, although the team of the project says that it uses a more friendly environmental system for mining, I don't think that it is really frirnedlier.
We may see the positive and negative impacts of this. We can also see the implementation, I am not sure enough.
Yes, it is.
I also don't think so that it is green enough.
But, at least, it has better technology for friendlier mining implementation than others. And this is what makes this project is growing up right now.
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Yes, it is.
I also don't think so that it is green enough.
But, at least, it has better technology for friendlier mining implementation than others. And this is what makes this project is growing up right now.
And where have you seen its growth? And if you know something about green mining - then compare it at least to Crypton and check how it's mined. I'll tell you: all you need is a PC and internet connection, that's it. You can run up to 50 bots per 1 PC. And the coin itself had grown from 15 cents to a dollar during the last week. It happened after the latest listing. While your chia is not even listed and continues falling down.
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Moreover, according to experts, the level of Crypton will grow rapidly in the near future. Utopia P2P sponsors the Blockchain Economy Expo.
This will be the First Blockchain Exhibition in the "World Expo" history. The Blockchain Economy Expo will be held as part of the World Expo on November 14-15, 2021 in Dubai Exhibition Centre.
All media attention will be focused on this event. I think it will be difficult for sponsors to remain unnoticed.
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Wow, after all, this event will be held. Yes, I read the news about him, but to be honest, I didn't know that Utopia is a sponsor of this event. I wonder where they got so much money from?=) Developers are apparently very interested in making a valuable contribution to the crypto culture.
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Look, people without money won't create a crypto project and won't advertise it so much. And no matter where do they take it, the most important is that the project continues to develop and grow. I think, there's a big chance that Crypton will rise even faster after that forum.
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In terms of energy, CHIA is “greener” than Bitcoin, but it still consumes too much hardware and resources, driving up the price of hard drives. I am not advocating this, electronic components should be reserved for more practical purposes.
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Look, people without money won't create a crypto project and won't advertise it so much. And no matter where do they take it, the most important is that the project continues to develop and grow. I think, there's a big chance that Crypton will rise even faster after that forum.
In addition, after the end of this forum, the entire crypto community will know that Utopia is recognized even by the largest figures of the crypto industry, because to participate in it you need to prove your reliability. One-day doubtful projects have no way to such large events.
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8)
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By the way, I may be wrong, but I heard the news that the release of the mobile version is about to take place. I hope that we will not be forced to wait another year!
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Well, so far the developers have not provided new information. Therefore, we should only wait. Maybe this will be the best gift for all of us for the new year.
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They had. Two image teasers were published all over their communities. The first one with a mobile phone with Utopia logo on it and the second one with a green scale and +1 sign nearby. So inner exchange is also developing. Or we have to wait for another Crypton listing.
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Oh, my God. I do not even know which of the updates I expect more!=) I hope that the updates will be released before the end of the year.
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The first one is ready! Monero was added to Crypton exchange from Utopia p2p: https://crp.is/exchange/xmr_usdt I thought they'll add any small coin, just as another pair to Crypton, but guys decided to move the mountains. Pretty amazing. I expect thousands of users as this exchange is accessible from all the countries, no matter which regulations they have.
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Finally! The first exchange pair. That, I must say, that the beginning has been made and that it promises to be very good. Let's see what happens next.
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In my opinion, the mining of all energy-consuming cryptocurrencies, and above all with the PoW algorithm, will be prohibited by states due to their obligations to take measures to prevent global climate change. This will, and most likely, apply to the Chia cryptocurrency.
Swedish regulators have already approached the EU countries with such a proposal and the states will gladly take up the opportunity to harm the cryptocurrency.
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Finally! The first exchange pair. That, I must say, that the beginning has been made and that it promises to be very good. Let's see what happens next.
It was a very impressive update. Adding Monero at a time when it was banned in many countries and removed from most exchanges was a very good step. Let's see how this will affect the development of the project as a whole.
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I agree. Also, this update was useful from the point of view of advertising. Let's see what happens next. We will be able to estimate the scale of changes only after time has passed.