Farm Chia Coin (“XCH”) and Earn Money

How to farm Chia Coin (“XCH”) on your computer and earn some money.

What is Chia?

Chia Blockchain is a new cryptocurrency that uses Proof of Space and Time. Instead of using expensive hardware that consumes exorbitant amounts of electricity to mine cryptos, it leverages existing empty hard disk space on your computer(s) to farm cryptos with minimal resources, such as electricity.

How to Farm Chia Coin (“XCH”)

Prerequisites

Prerequisite is easy and they are:

  • External Hard Disk Drive (“HDD”) where bigger the size is better. Popular size is 18 TB as of time of this article.
  • Chia Blockchain software.

Install Chia Blockchain software

To install Chia Blockchain software:

  1. Click on “Install Chia Blockchain” button, which will navigate you to INSTALL · Chia-Network/chia-blockchain Wiki · GitHub
  2. Click on Install the Windows installer — “Chia Blockchain Windows” link to download “ChiaSetup” software.
  3. Click on “ChiaSetup” software to install.
  4. “ChiaSetup” will install Chia Blockchain software on your computer for you automatically. It installs software on /Users/Your Username/.chia directory.
  5. When Windows Defender Firewall prompts for access, click on “Allow access” button.

Setup Chia Blockchain software

  1. Chia Blockchain software will create a new wallet for you with a series of mnemonics words as show below. Make sure you use your smartphone to take a picture to store this key somewhere safe.

Plot Chia Blockchain

There are two distinct parts of being a Chia farmer. First you will need to create a series of plots then you can farm those plots to be rewarded with Chia Coin (“XCH”). For more information on plotting, please refer to https://www.chia.net/2021/02/22/plotting-basics.html.

  • 540Gib Free Diskspace on SSD: 2 Plots
  • 810Gib Free Diskspace on SSD: 3 Plots
  • 1,080Gib Free Diskspace on SSD: 4 Plots
  • 1,350Gib Free Diskspace on SSD: 5 Plots
  1. If plot fails for any reason(s) then you will need to start the plot process from the beginning. Be sure to delete any temp files in Temporary Directory since they will not get deleted.
  2. Plot file is named as “plot-k32-yyyy-mm-dd-hh-mm-[a series of alphanumeric words].plot” and they are about 108.9 GiB in size.
  3. Four phases of plotting are:
  • Backpropagating table (table 1 to 7)
  • Compressing table (table 1 to 7)
  • Write checkpoint tables

Farm Chia Blockchain

To farm Chia Blockchain, you do not have to do anything since all completed plot(s), starts farming right away where you can compete to be rewarded with Chia Coin (“XCH”).

How Do I Get Rewarded in Chia Coin (“XCH”)?

Your Chia farm will have 4,608 chances per day to win 2 Chia Coin (“XCH”). To be rewarded Chia Coin (“XCH”), your plot needs to pass the filter then compete with all other passed plots for best proof of space to be rewarded Chia Coin (“XCH”).

How Much Would I Earn from Chia Coin (“XCH)

UPDATED: You can trade Chia Coin (“XCH”) on some of the exchanges as of May 3rd, 2021. As expected price of Chia Coin (“XCH”) was elevated for few days, followed by a dump as Chia Farmers recoup some of their investments. Price of Chia Coin (“XCH”) is expected to closely track other cryptocurrencies until Chia cryptocurrency evolves to next phase(s).

Chia Farmer Pools

When mining cryptocurrency, most people join existing farmer pools (i.e., many Chia farmers working together to win Chia Coin (“XCH”)) to increase their chances of winning that cryptocurrency.

Other Considerations in Farming for Chia Coin (“XCH”)

The following are some other considerations when farming for Chia Coin (“XCH”):

  1. When farming for Chia Coin (“XCH”) on Windows computer, change power setting to “Never” Sleep.
  2. When you want to expand your Chia Farm operation, you may want two or more computer setup where one or more computer(s) are dedicated to plotting (i.e., Chia Harvester) and another computer is dedicated to Chia Farming.
  3. You can have multiple computer(s) running Chia Blockchain software using same key. Instead of creating a new wallet, select “IMPORT FROM MNEMONICS” and enter twenty-four mnemonics words in correct order.
  4. Plotting is faster on Linux computer (tested on Ubuntu with same hardware configuration as Windows), compared to Windows computer.
  5. When you uninstall Chia Blockchain software on Windows computer, the wallet keys are not deleted. You will have to delete wallet keys using Chia Blockchain software via “DELETE ALL KEYS” option.
  6. Chia Blockchain software is not mature software where we are seeing latest version of software releasing every few days or even on same day.
  7. Bram Cohen has defined a small Chia Farmer (https://www.youtube.com/watch?v=K-JT4b435Qo) as anyone who has less than 1 PiB of Chia farm. To get to this level (assuming you can create 10 Chia plots per day), it will take you 100 days.

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