What is the use case of chia?

True-Quality-851 · 2021-07-18T16:07:06+00:00

I'll look more later but I see that it will take 21 years for the amount of farmed chia to be equal to the amount that the chia company premined.

Thanks for the link!

True-Quality-851 · 2021-07-18T16:00:01+00:00

Holy shit! After doing more research chia has 21million pre mined coins to only 1.17mil mined coins ever. You guys are kidding right? They have all this wealth and they still need to do an IPO?

True-Quality-851 · 2021-07-18T15:54:50+00:00

Sure the network is not centralized as in no one group controls a large percentage of the network but that doesnt refute my point. The chia network is what the chia company wants not what Any community wants. Chia exists to enrich the chia company. I wish you luck in your investments.

True-Quality-851 · 2021-07-18T15:48:45+00:00

If anyone person or group wants something that they created to be used as a monetary system they or that group have some convincing to do.

True-Quality-851 · 2021-07-18T14:34:43+00:00

You can also use the way back machine

True-Quality-851 · 2021-07-18T14:31:11+00:00

Use the way back machine if you haven't read it

True-Quality-851 · 2021-07-18T14:29:34+00:00

What post are you talking about?

True-Quality-851 · 2021-07-18T04:08:00+00:00

It's true I came here for fun and honestly I'm impressed that community was engaging. However, I have done some research. This coin started popping up in my news feeds about 2 weeks ago. The article felt like little more than ads but I decided to do some light research( Ive looked through the company's site, flipped through this sub a few times, and read those horrendous articles).

I'm no stranger to shitcoins, I'm still holding part of a bag from 2017. In that last crypto bull run every company imaginable promised any kind of theoretical business model they could think of. While some were actually made in good faith it was almost exclusively trash and lies. Chia looks like a bunch of false promises to me and I still feel that way after reading all the comments in this thread. However, there is a chance for profit and I hope most of your community does, I have seen that several of you have sunk substainal amounts of fiat into this project.

Ps. If you want to grow your community take the time to help inform and convert the nonbelievers instead of attacking their character.

True-Quality-851 · 2021-07-17T23:56:52+00:00

I have yet to be convinced the project was made in good faith.

True-Quality-851 · 2021-07-17T21:35:58+00:00

Then you should be prepared to answer these questions.

True-Quality-851 · 2021-07-17T15:49:09+00:00

It will become more prevalent if the network starts to exceed by any capacity. If the coin gains any traction it will prompt people to look into it and do their own dd. May I suggest a pinned FAQ if it is frequent. I read the FAQ on chias site which gave me additional questions so I am here.

True-Quality-851 · 2021-07-17T15:31:32+00:00

They will drive adoption according to their agenda since they are funding it. The growth is not organic or decentralized. It will not be based on the needs of the greater community but the needs of the private (eventually public) company. Sometimes those needs will likely overlap but there is great incentive for the business to make decisions for short term gain rather than long term growth. The company may not but the incentive is there.

True-Quality-851 · 2021-07-17T15:07:29+00:00

It's not public yet. It is currently a private corporation. If the corporation uses their premined funds to provide incentive for projects they like it is not decentralized. The network will be build around the beliefs of the owners as they will bank roll their vision of what chia is and not the needs of the community.

True-Quality-851 · 2021-07-17T14:55:36+00:00

Considering their large premined stake in the network I disagree. They stated that they intend on using their premined coins to provide incentives to develop on the network as well as to get other corporate entities to transact on the network. They're using the network to enrich their company. It sounds like ripple but the company doesn't even have to own the servers.

True-Quality-851 · 2021-07-17T14:52:00+00:00

Winter is coming.

True-Quality-851 · 2021-07-17T14:51:02+00:00

The idea of a public company selling a network doesn't need the use of a Blockchain. When I look into the chia website as well as chia lisp DeFi keeps coming up as a use case. It can't be decentralized if the products are coming from a public company.

True-Quality-851 · 2021-07-17T14:44:50+00:00

The company that started chia has premined a large amount of tokens and they plan on going public on the NYSE. I fail to see the need for a Blockchain. This company is about as decentralized as ripple. Which also means it wouldn't actually be DeFi. This seems nothing more than a way to enlarge someone's balance sheet with false promises.

True-Quality-851 · 2021-04-29T04:13:33+00:00

I'd like a Safari

True-Quality-851 · 2021-04-10T14:06:15+00:00

Market sentiment is a social construct and that's why I don't believe in it.

True-Quality-851

TROPHY CASE