Farm or Buy Chia?

Photo by Karolina Grabowska on

The question I read/hear daily is to buy or farm Chia coin at this point. Its a tough and serious question. There is a pay wall to get started farming if you don’t already have the hardware. If you do have the hardware, there is still a time wall to deal with in generating plots. May 3rd at 10am PDT is when XCH will go live on an exchange or various exchanges. Is it worth doing all this work when you’ll be able to buy it outright in two weeks?

There are valid arguments on each side of this question. Ultimately, and I hate to say this, it depends on what your goals are. Buying XCH with cash is the way to go for people that want a bit certainty. You know exactly how much XCH you will get for a certain amount of money. Farming XCH is the way to go if you want to play the long term game. The amount you will earn is unknown, but, you will have the chance to win XCH outright daily depending on how big your farm is.

At this point however, if you are brand new with nothing, I would say wait to buy XCH. There is a learning curve to farming Chia coin and you will spend many hours reading and researching to try and make the 2 week deadline. It will be all for naught if you don’t earn any Chia coin. I went 12 days farming until I got my first win.

If you have the hardware already, like a Gaming PC, go ahead and buy the nvme drive and one fat usb external drive and begin plotting. But, save the majority of your Chia budget to buy XCH outright at launch. This way, you can start chipping away at the time wall, while at the same time you will earn some XCH with cash.

There is still a bit of uncertainty with buying XCH outright though. We don’t know the exchange/s that XCH will be listed at, currently blocked by Non-Disclosure Agreements. Some exchanges require days for new accounts (in the US at least) to get created. We don’t know the price at which the coin will launch at. Will it be $1000 per XCH or will it be $1 per XCH. My gut feeling is that it will launch around $150-$250 USD. This is a really rough number. But basically, This would cover a whale farmer’s cost of their dedicated hardware, plus overhead, in order to expand their operation. If its less than this, its harder to justify. For those that don’t know, a “whale” is a person that spends a lot of cash on something. Way more than an average person would.

Edit: I forgot. We live in a time where meme’s bring in money. This means that logic does not have to be behind the price of something. If there is hype, there will be a high price. If there isn’t, then it will be priced lower.

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