Is CHIA a Crypto Scam for $100 Billion Stock IPO? STOP Farming / Plotting CHIA NOW!
Currencies / Crypto Mining May 31, 2021 - 01:30 PM GMTBy: Nadeem_Walayat
CHIA the so called GREEN crypto that is fast gobbling up all available hard disk storage space with many hundreds of thousands busily farming away 100gb plots in attempts to win the elusive CHIA coins that has in the past couple of weeks commanded prices as high as $1600 per coin so very enticing to sucker in many crypto enthusiasts into it's event horizon including me! Though I soon realised after a weeks farming / plotting that the chances of winning were virtually ZERO, so I stopped plotting Chia on the 14th of May which is where my plot count has remained static at 142 or 14tb of storage used as the maths does not stack up! Furthermore 2 weeks on my decision to stop farming proved correct as the ponzi game that CHIA is has become apparent, one of a mass of unfarmed Chia coins that will go into an IPO, CHIA INC, so as to get the fools on Wall Street to plow upwards of $100 billion into in valuation terms thus allowing the CHIA insiders to cash out with billions all without selling a single CHIA coin!
Meanwhile the suckers, that's you are expected to keep expanding that network space so that the CHIA IPO can carry the greatest value. Anyone who feeds the network space with their hard drives is a fool who has fallen prey to the CHIA Crypto scam that I am sure in years to will come to be investigated by the likes of 60 minutes and Panorama in the UK.
At least now you KNOW and thus cannot say I did NOT WARN YOU ALL!
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Nadeem Walayat has over 35 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
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