Supplement and summary of some common questions about Chia

Recently, the Chia market has been hot, and more and more users have begun to pay attention to the acquisition of Chia in the early primary market and related processes such as mining. As the tide rises, there are a few people in the market who spread false information to influence market user participation and cause market sentiment confusion. Disclaimer: This article does not involve any conflict of interest and only serves as a reference for the market. If you have any questions, please refer to the official information.

Question 1: Does Chia have a private placement? How can I participate?

A: There is no private placement in the market at present. It is difficult for institutions to obtain private placement of the top project Chia, and it is even more impossible for retail investors to directly participate in private placement. Retail investors can only obtain tokens of the Chia project through mining and other forms. Do not believe in any illegal scams that use Chia private placement as a gimmick.

Question 2: How much can a desktop computer mine? How long is the payback period? Can a laptop computer participate in mining?

A: There is no reference standard for desktop mining in the market. It is known that theoretically 0.04 XCH coins can be mined per TB of mechanical hard disk, and it is expected to decrease in the future. Currently, XCH is not traded, the market price cannot be defined, and the payback period cannot be accurately predicted. Laptops are best not to participate in mining. Large miners have already entered the market. Retail laptops have defects such as weak computing power and imperfect hardware, which cannot compete with professional mining machines and do not have much profit space.

Question 3: How to buy chia coin?

A: Currently, Chia does not have a transfer function and cannot be bought or sold. It is estimated that there will be over-the-counter transactions in the future. It is expected that transfers will be open six weeks after March 18, 2021, and free transfers and transactions will be possible.

Question 4: What is the total amount of this coin? Is there a pre-mine?

Answer: There is no upper limit on the total amount. The team has pre-mined 21 million (they will not be circulated in the early stage and the unlocking date is unknown). It is expected that more than 3.36 million will be produced in the first year of this year, and the total circulation in the first 12 years will reach more than 39 million.

Question 5: Does this mining require any network bandwidth? Does it consume electricity?

A: No network bandwidth is required, just Internet access is enough. No power consumption, the host consumes less than 4 degrees of power every day at full load. Mining requires an Internet connection, but P-picture can be calculated offline and does not consume network bandwidth.

Question 6: If I use a solid-state drive (SSD) to plot the graph, can I mine it on a mechanical hard drive (HDD)? Is it enough to complete the plot once? Do I need to plot again?

A: Yes, after you plot the graph, it will be automatically placed in the HDD path you set, and you can start mining. The more graphs you plot, the greater your computing power will be, and the easier it will be to mine. The normal idea is to keep plotting.

Question 7: Can consumer-grade solid-state cameras be used for photo editing?

Answer: It is not recommended. Consumer-grade solid-state drives such as SN750 and 970PRO have relatively short write lifespans.

Question 8: Why does mining produce no blocks for a day?

Answer: The low computing power of ordinary hard disks leads to a low probability of solo block generation.

Question 9: What is the expected listing price?

Answer: The expected listing price cannot be defined for the time being, and the pricing power is determined by the market.

Question 10: What should I do if synchronization fails or is very slow?

A: Add a few nodes to speed up information acquisition by checking relevant community announcements.

Question 11: Can I continue plotting after accidentally shutting down the computer or exiting the software?

Answer: No, you can only start over.

Question 12: What should I do if I don’t set a time interval when editing multiple pictures?

A: If the time interval is not set, the plot will fail. Generally, the interval is set to at least 10 minutes.

Question 13: When will Chia mining start?

Answer: The mainnet was launched on March 19th. Chia officially announced that the transfer function would be open 6 weeks after the launch.

Question 14: What are the applications of chia?

Answer: Chia’s current physical applications include: the ownership of transfer bills and the withdrawal of assets during the transfer process. Chia also has a color coin function that can determine the ownership of property rights and resolve a series of economic disputes caused by the lack of property rights.

Question 15: Can I find someone to do the photo editing for me and then sell me a fully loaded mechanical hard drive?

A: It is not recommended, because the P picture is associated with the wallet, and the wallet and the picture need to be sent to you together. It is not safe for two people to have the mnemonic at the same time. There are also people who P pictures on behalf of others. The principle is to use the mnemonic to sign and then give the signature content to the other party. It has not been put into practice yet.

Question 16: After the mechanical hard drive is fully occupied, do I still need an SSD?

Answer: If you don’t want to Photoshop anymore, you don’t need to do that. You can even remove the mechanical hard drive and connect it to an idle computer to mine online.

Question 17: What should I do if the wallet crashes or displays a white screen during the drawing process?

Answer: If it is gone, you need to check whether there are any changes in the chia files in the background and temporary storage disk. If it is still drawing, just wait. If the memory and hard disk reading are still displayed, it means that the background is still running. Wait for a while until the drawing is completed and then open the client.

Question 18: Can I copy the drawn graph to another computer and mine at the same time?

Answer: No, a picture is unique and it is useless to copy it.

Question 19: Can one machine be used for photo editing and another for mining?

A: Yes, just remember to use the same mnemonic for multiple machines and then import the path of the final saved image.

Question 20: Can I buy second-hand parts and assemble them myself?

A: Self-assembly is not recommended. Compared with professional mining machines, second-hand assembled parts are prone to problems, and second-hand parts have defects. Users may encounter a series of troubles in the later mining process, which will not be worth the loss. When configuring second-hand mining, you need to carefully consider whether the mining income can pay back the investment and whether there is room for profit in the later income. Investment itself is a gamble, and you can win the most if you fight a sure battle.