Chia Plotting Service in India

rsaeon said:

I'm opening up ~5TB/day capacity on my plotting systems for anyone who'd like to have some Chia plots within India. I'm calling it Samosa Plot

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I'm officially winding down this service, I wish everyone all the best with their plots. All forum members who paid for their plots have confirmed receipt and are happily farming.

The current numbers show that you need about 120TB of disk space to earn 1 XCH per month.

Thanks everyone.

It was 75 per plot for forum members, though ones with more than 16tb got a rate of 49 per plot. Outsiders paid 99 per plot, most of those were through https://chia.supply and the international ones had to pay dhl courier charges separately.

Almost everyone within India supplied their own drives. I purchased new drives for less than 5 people in total, including the international ones.

But over 90% of the plots that I plotted were for relatives/friends who negotiated 5% earnings over 5 years instead of per plot. That works out to be a better deal for me, but it got monotonous really quick since I also have to manage/farm those plots on their behalf.

There's whispers that the chia network isn't fully decentralized. Some people started winning blocks affer connecting to a VPN on the west coast of the United States.

I joined Core Pool in its first week (before it became invite only), and have earned some XCH there. Payments are regular, and are based on how many plots you have online for how many minutes since the last payment. Kind of like a PPS system.

Congrats! If you're looking to sell, you can trade XCH for BTC at coinex, then transfer to paxful to sell to a 'trusted seller' over UPI. I do this about once a month with the earnings from Core Pool.

booo said:

Was wondering how chia is doing lately? Just like other crypto or better?

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Absolutely terrible, from a high of $1900 per XCH at it's mainnet launch weekend to around $500 when I started this to $32 today. Still, $32 is greater than zero so it's doing a lot better than maybe half of the crypto market. It was originally expected to settle around $20, so it's doing better than what the XCH team expected, which is probably something.

Every single person who I was farming for bailed out by the time XCH dropped to $100 but I was able to buy out their hardware so I'm sitting on about half a petabyte of plots, still farming, still collecting a few XCH every month. I haven't cashed out in about 9 months.

I have no idea where this is going, but I'm curious so I'll keep farming for a few more years. Netspace has shrinked from a peak of 35 exabyte to 24 EB today.

I probably wasn't clear — of all the people I was farming on behalf of, no one actually lost money. They didn't make any profit, but they didn't lose anything either.

The way the agreement was made between myself and them was that I would not charge for filling their drives with K32 plots and in return I would get 5% of monthly rewards by farming their plots. I would handle the entire farming operation and pay for electricity/internet the entire time. The duration of this agreement was for 'lifetime' or for as long K32 plots were accepted for farming.

They could opt out at any time by me purchasing their drives at the original cost price after subtracting what they earned through farming. For example, someone bought 16x4tb for 100k and they had cashed out about 58k by December, so I paid them the remainder 42k for those 16 drives. Admittedly, It worked out well for me but at the same time they didn't lose their initial investment. They just never made the high profits that they were expecting.

For the forum members who did pay Rs 75 per plot, one is now banned and the others, as far as I can tell, sold their drives above their purchase price. There's a gaming cafe in Gujarat that sent me 20x5tb portable drives, I don't know if they're still farming but they did purchase those drives without GST. There's a person in Thailand who purchased plots at $3 per plot, but I made it clear that $2 of that went to to bandwidth costs since he wanted to be able to download them.

I would never advocate for anyone to actually purchase crypto and I have crypto transactions dating back to 2013. Even when BTC fell to $200, I couldn't bring myself to buy any. But earning/mining/farming crypto is viable, so long as long as you temper expectations and spend wisely. My GPU mining setup in 2013 consisted of sub $150 graphics cards (Radeon HD6950's) on budget FM2 boards when everyone was splurging on $300 HD7970 cards with risers and multiple power supplies. That was easily the most profitable venture I've undertaken.

With Chia, you still have your drives and if you bought them a year ago, they're worth more today than what you paid for them.