Of the $16.8 billion in Chia market capital, just 3% came from the farmers, who, as of this moment have generated a farm approaching 11-Exabytes, if not already there. They’ve bought out all the hard disk stock from NewEgg and Microcenter and Best Buy, along with m.2 sticks which they will chew up, hoping that they die fast enough so that they can take advantage of the store’s return policy.
When high-rollers get into a boardroom and talk about giving back to the employees, they don’t talk about fairness, they simply talk about retention. 3% is what my former benefactors allocated in total to employee stock options… 10,000 shares! They said. “Here’s your slice! 10,000 shares!” They do this because it is cheaper to retain employees through weak promises of future returns on their time investments than to actually give them raises.
Well how many shares are there and what’s my portion?
“Your portion is 2.8%!” they Said.
2.8% of 3%… so 0.084%! Right! “Well… that stinks!” I thought to myself, and immediately sought employment elsewhere… If I gave up my family vacations (I did), missed seeing my father in his final moments (I did), and shoved away my future wife (I did) and helped them turn this company into a billion dollar company… all I’d have to show for it is a lousy $50K.
But this story isn’t about them… it is about Chia. And seeing that number, 3%, bought back memories.
Look at the ratio of XCH to unique addresses…. it is showing a 1.29:1 ratio of farmed Chia to unique addresses. That means, presuming that most of those addresses are farmers, you’re maybe going to make 1.29Chia on your farming. It is hard to say because the network is constantly growing, but as it grows, it is only going to get harder for farmers… so it will probably be LESS. You’re going out and buying shit hoping to win some Chia, but your day is not coming. You’re not going to get your money back on the 10 giant hard drives you just bought. Chia is growing too fast. And once that $16 billion is dried up, they will simply create “Chia 2.0” and rinse/repeat. Or how about “Chia Doge”!
Chia Farming wreaks of a stink. Maybe it’s the virtual shit you’re all spreading on your virtual farms to make them grow faster… but more likely it is simply the farts of approaching trolls who are going to dump their “pre-farmed” Chia on the market driving down the price and shutting you out.