#xch
xch
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Let's analyze a very popular coin XCH
Globally, it has a downward trend, and within this trend, a small bounce is expected before further immersion into the Mariana Trench
Testing the trend resistance will be very timely - this is approximately the area of 10 - 11 dollars per coin
#xch
Globally, it has a downward trend, and within this trend, a small bounce is expected before further immersion into the Mariana Trench
Testing the trend resistance will be very timely - this is approximately the area of 10 - 11 dollars per coin
#xch
XCH (Chia) originated in 2021, founded by BitTorrent inventor Bram Cohen, packaged as an "eco-friendly green Bitcoin alternative".
It adopts a Proof of Space and Time consensus, using hard drive space for mining, claiming to be a thousand times more energy-efficient than PoW. After going live on the mainnet, it quickly became popular, reaching a high of $1645, with a market cap exceeding $30 billion at one point, attracting countless miners to hoard hard drives for mining, and the community of users expanded rapidly.
However, upon closer inspection, the project shows obvious signs of speculation: high return temptation: it claims low energy consumption, no need for GPUs, and sustainable mining, attracting users to invest heavily in hard drives with high return expectations.
Referral mechanism: it relies on pre-mining and community promotion to draw in early farmers, forming an expansion model that heavily depends on hardware investment.
No actual value support: ecological development is slow, with very few real business applications and DApps, mainly relying on the "green concept" to maintain heat, lacking sustained demand.
The most shocking part is: after the bear market in 2022, hard drive prices crashed, mining revenues plummeted, and the price of XCH fell over 99% from $1645 to currently about $4.6, with a market cap evaporating over $29 billion.
Many early farmers sold hard drives to cut losses, and holders suffered significant losses, leading to a sharp decline in community activity. The reason why such projects are bound to fail is: excessive reliance on concepts and hardware speculation; once the market cools down and real applications cannot keep up, selling pressure concentrates, liquidity dries up, and a price avalanche is just a matter of time.
Investing requires caution, rationality is key, and protecting your assets is the right way.
Did you hoard hard drives to mine XCH back then? Are you still holding? Let's share experiences in the comments and stay vigilant! #XCH #硬盘挖矿 #加密风险
It adopts a Proof of Space and Time consensus, using hard drive space for mining, claiming to be a thousand times more energy-efficient than PoW. After going live on the mainnet, it quickly became popular, reaching a high of $1645, with a market cap exceeding $30 billion at one point, attracting countless miners to hoard hard drives for mining, and the community of users expanded rapidly.
However, upon closer inspection, the project shows obvious signs of speculation: high return temptation: it claims low energy consumption, no need for GPUs, and sustainable mining, attracting users to invest heavily in hard drives with high return expectations.
Referral mechanism: it relies on pre-mining and community promotion to draw in early farmers, forming an expansion model that heavily depends on hardware investment.
No actual value support: ecological development is slow, with very few real business applications and DApps, mainly relying on the "green concept" to maintain heat, lacking sustained demand.
The most shocking part is: after the bear market in 2022, hard drive prices crashed, mining revenues plummeted, and the price of XCH fell over 99% from $1645 to currently about $4.6, with a market cap evaporating over $29 billion.
Many early farmers sold hard drives to cut losses, and holders suffered significant losses, leading to a sharp decline in community activity. The reason why such projects are bound to fail is: excessive reliance on concepts and hardware speculation; once the market cools down and real applications cannot keep up, selling pressure concentrates, liquidity dries up, and a price avalanche is just a matter of time.
Investing requires caution, rationality is key, and protecting your assets is the right way.
Did you hoard hard drives to mine XCH back then? Are you still holding? Let's share experiences in the comments and stay vigilant! #XCH #硬盘挖矿 #加密风险
There are some digital gem coins coming up very soon that will compete with Bitcoin, but unfortunately, many traders and enthusiasts worldwide are oblivious to them. If you don't know what Chia Network #XCH is, it's the only network where you can mine its currency using hard drives, unlike Bitcoin which requires high-powered devices and consumes lots of energy, harming the environment. That's why Chia Network will be the number one alternative globally, as its mining is eco-friendly.
The native digital currency of the Chia Network is Chia Coin (XCH). Users allocate unused storage space on their computers (instead of processing power like proof-of-work cryptocurrencies such as Bitcoin) to run the Chia blockchain and the consensus protocol based on proof of space and time. This process is described as "farming" and rewards users with XCH coins. It's backed by the World Bank, the Singapore government, and the Chinese bank, making Chia a strong competitor to Bitcoin, possibly surpassing it with its advanced and eco-friendly technology.
#XRP
#BTC
#XCH
The native digital currency of the Chia Network is Chia Coin (XCH). Users allocate unused storage space on their computers (instead of processing power like proof-of-work cryptocurrencies such as Bitcoin) to run the Chia blockchain and the consensus protocol based on proof of space and time. This process is described as "farming" and rewards users with XCH coins. It's backed by the World Bank, the Singapore government, and the Chinese bank, making Chia a strong competitor to Bitcoin, possibly surpassing it with its advanced and eco-friendly technology.
#XRP
#BTC
#XCH
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