Chia Laid Off 26, Pre Farm Selling, XCH Looks like Crap

Poor Investor's Discord

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[T.A.I.E.E]

I have to admit I saw you as a hater but then numbers started adding up and BAM they fire a ton of people. My man you are da man. I stopped on time, but i have a good amount of equipment that i will be using for another project. Cheers poor investor. Btw digital spaceport is reeeaaally milking the videos now hahaha guess thats how you pay for A LOOOT OF EQUIPMENT CAUSE CHIAS WONT.

[brianfreeman]

Farming started as a hobby for me, then it grew in to a large scale side-business. Right now the price of XCH is making my business teeter on the edge of needing to shut down the farm. 20 PiB might have to be switched off if electric costs outweigh the value of farmed XCH.

[supplydemand]

node count isn't the only metric for decentralization. They hold too much xch in pre-farm. It's a good thing they may be liquidating some of the pre-farm so xch itself becomes more decentralized. the more they sell the better. XCH is now reminding me of EOS where they claim they have the best tech but no one uses it.

[canalmaster]

Even some hate it, you keep it neutral and deliver a reality check, good point from 13:00 to 14:00 minute, no one wants to talk about it... and what is the chief marketing officer or VP of sales doing there, where is the marketing and selling? or is it just "OH, NICE, BLOCKCHAIN, NICE, GIVE FAT SALARY"... are they really interested in the project or is it just a job like any other for them, why does CNI even need that much employees?

[thethMONKEY]

Shutdown my farm last month when it became unprofitable. Game over I think. Thought about keeping all my HDD's to spin it up again in the future but I may as well recoup some capital and sell the lot of them which I am now doing. It wasn't a huge farm, approx 20 HDD's. Overall I'm in profit so it was good whilst it lasted. Going to stay subbed as this is a good source of chia news! Thanks PI :)

[ismondz]

Love the videos, keep up with the positive thoughts .

[trousersnake]

I never invested more than I was willing to lose and I can recoup hardware cost a bit. Holding my solo mined chia til its dead

[CryptoBlockchainTechnologies]

Switch to CPU mining. Raptoreum is about to blow up they are almost done implementing NFT’s into the core wallet itself.

[ryanhileman]

4.5pb here. I can keep farming down to about $14/xch. I plan to keep farming down to that out of desperation to recoup costs. Heres hoping farms shut down bringing the difficulty with it.
...
But we all know that wont happen. Farms with free pwr in china will keep pushing it up

[jabuki]

Adversity brings opportunity. I don't see this as dooms day and I have no problem seeing people jump ship. It's honestly the entire point of the bear market, to weed people out. I welcome seeing the netspace drop and my daily farm increase. Perhaps this will drop used capacity to $5/TB. Cya in 16 months in the bull market when people buy back in.

[gowaru]

i like the code, like it being in python, liked how you can fork it and it is actually business friendly, I can today use it for 2 or 3 applications in real world in my job today. The issue is that business doesnt want it unless it comes from the big brother or a cousin. Here, the business environment in a nutshell. Others cannot invest since the rents and food has gone up. Eventually its just the macro situation. We effectively all live on government handouts now, free market is near dead.

[maschlau]

26 out of 70 sounds like they are trying to get their P&L in line. I have seen worse layoff events in the tech space that saw companies survive to live another day.

They also could have laid off employees to be replaced with outsourced contractors.

[Gamepalooza]

Instead of a pay cut to avoid layoffs... How about offering lower pay with chia coin options to be paid out later. How would that play out with avoiding the negative press of layoffs.

This is just a hobby.

[jbman]

My farm is such low power I almost completely forgot about it, just holding for now might sell in the near future.

[SoggyCow]

ill hold onto my 30 farmed XCH. but now i got 200TB to host my remote storage service site :D

[drewmcleod]

If we don't get an IPO next year I think we're f'ked tbh

[ThePleblo]

This is more of a hobby to me i have been selling since last year every month. I am still expanding but very slowly but i am in the process of replotting since i had some extra GPU's sitting around from my days mining ETH. I feel ill keep doing it till i make almost nothing per month. I was trying and might continue to buy 1 per month and nothing huge 10-12TB but when time comes to shut down I'm sure I can sell those drives to recoup some or use them in the next HD mining one that pops up. Just really glad i took profits each month so recouped most of my extra investments.

[titanandrews]

I wouldn’t read too much into the layoff. Tech companies are cutting jobs everywhere. Usually they’re cutting the bottom performers.

[TekJumble]

You literally talked for 22 mins and said nothing. That is quite an achievement.

Chia IS in a very bad spot right now like real bad that said i see no farm's listed for sale and i just see netspace going up, also a lot of market speculation is going on currently. I would rather see them cut stuff from the less needed departments, leave the dev's, and keep it going then just fail because they run out of money.

People being buthurt about there being a prefarm 1/8th of which can be used for general business purposes should have stayed away from day one and never went into chia in the first place. Not join in with knowledge that it exists and then consistently cry about it.

[geraldneale]

Thank you for your independent viewpoint