The cryptocurrency world has become far bigger than anyone has imagined as more people now see the worth of investing in it. I know that at one point in time, we may have tried to make some money through crypto. Some people have been successful, while others haven’t been lucky enough.
I am Josh Hoffman, a mobile and web developer for 15 years now. My expertise lies in macOS, iOS, watchOS, tvOS, and watchOS development. Presently, I am running a mobile app development agency that focuses on native app development. Asides from this, my team has also worked with some crypto projects.
Now, I am going to share with you my success story. This is how I earned 2 Chia coins just using the hard drive of my PS4. You may be surprised how I managed to pull this off. Trust me guys, this is real. Before I reveal this process to you, let me quickly enlighten you on what Chia coin is all about? This will help you understand the process.
What is Chia Coin?
The Chia Network is a smart transaction and blockchain platform. It is a storage-based protocol that runs a POST – Proof-of-Space-and-Time algorithm, which utilizes unallocated disk space. It doesn’t require computing power, nor does it create coins using energy. Miners can allocate whatever storage space they have to this network.
The POST algorithm ensures the network stays decentralized by resisting the development of mining pools. POST depends on cryptographic protocols which are referred to as VDFs – Verifiable Delay Functions. On 14th May, the price of Chia reached $1692. However, since then it has declined, and recently, it has been trading between $300 – $500.
How I Earned 2 Chia Coins
The truth is, I am not a crypto enthusiast, who spends all his time trading or monitoring the market. However, I was well aware of the potential gains crypto could offer. So, I trade sometimes using little sums of money. I’ve also developed some blockchain based project before.
On the 15th of May, I came across a reliable guide revealing much information about the Chia coin and how hard drive mining works. I studied it and then decided to try something out.
I spent some days reading various articles online relating to plotting, jotting down vital information. Later, I went through these notes, thinking of how best to begin to achieve the ultimate goal. Once I got everything needed, I decided to try it out.
Tools I Used
- External Hard drive of 4TB from my PS4
- MacBook pro 2019 for plotting
- Mac Mini 2011 also for plotting
Since I needed some storage space, I took the external 4 TB hard drive of my PS4. Now, I was just trying something new, so for the plotting, I brought out my Mac Mini 2011. As you have already guessed, this tool I chose is not the best for plotting. Later I also used my MacBook pro 2019 to help increase the plotting speed a bit.
On 17th May, I started plotting. It took about 16 hours to create one k32 plot using my mac mini 2011. Without relenting, I continued adding more k32 plots using mac mini and MacBook pro. On MacBook pro it takes about 6 hours to create one k32 plot using default plotter. However, with the release of the new MadMax plotter, the plotting speed increased dramatically. Now it took only 1 hour 20 minutes on the same macbook pro to create one k32 plot. Check out this article to learn more .
Ten days later, on May 27th, I won a block. At this time, I had successfully created 26 k32 plots.
Now, it took me just two days to set up everything I needed. From 17th May, all the other time was spent checking stats, because the plotting was automated. I was indeed lucky to win a block. This got me two Chia coins, which are still in my possession today.
If I decided to sell them that very day I earned it, it would have amounted to $1600. However, I’m HODLing it because I believe one day the value of Chia would increase to the extent that I would be able to sell it for $10,000. Check out our Chia coin price forecast in this article.
At present, the probability of winning a block, which is equivalent to 2 Chia coins with just 4 TB is very low. You can visit Chia calculator website to confirm this. Currently, the network space is over 20 EiB, which is equivalent to 2882303.76 TB. This value is even expected to grow exponentially.
Presently, I don’t have the necessary funds to invest in hard drives to at least have a little chance of winning a block. But I have this strong desire to participate in the Chia community. I had no other choice than to farm in the pool.
Currently I have a small farm, 30 TB overall and I am still mining Chia coins, while waiting for the pools to release.
Using the Mining Pool
Now, for those who are new to this concept, a mining pool involves a group of miners coming together to rub minds and combine their efforts in a bid to win a block. When they successfully achieve this, they then share the reward amongst themselves.
While trying to farm in the pool, I discovered that they are yet to fully develop their pools. For this reason, I decided to stand out and create a Chia mining pool. Currently, me and my team are working tirelessly to set up the pool at the release date. This is yet to be defined; but this June, it will surely get somewhere.
What I am aiming for is to create a reliable, secure, and transparent pool that will offer regular payouts. This intended system will ensure everyone gets paid. This pool of mine is called XCH Cloud Pool, and it will launch once the official pool protocol is released. Currently, we have connected to Testnet as part of the testing before the main net goes live.
If you have gone through this piece, and are interested, you can contact me immediately. There’s a lot for you to gain joining this pool, as I have some strategies in place already to make this a success. If you wish to receive a notification to know when the pool will be Live, you can subscribe to this website. You can also join through Telegram, Discord, or Twitter.
After going through this post, you may start wondering if you could do the same. Yes, it is possible. That’s my reason for sharing my story so others could learn and also join my mining pool if they wish to. All these are to ensure we are not left behind as others acquire some wealth through crypto. Just notify me through any of the channels above and we will be glad to have you on board.