Quote from: achillez on Today at 05:40:34 PM

I've spent some time looking into this coin. I like the concept, I like their website but it lacks many important features:

- No way to password encrypt your wallet
- Plots are linked to your wallet so if it gets compromised you have to redirect transactions
- It's unclear what security audits they did on their nodes. Are they susceptible to buffer overflow attacks or something else?
- The GUI itself is nice and modern, but lacks basic features like ability to stop/pause a plotting node (no resume). It also lacks any ability to predict plot time and any decent HT support. The CLI is basic, just like most cryptos but also lacks any of this.

The complexity has gone through the roof in just 1.5 months. Currently at 1.5 EiB and growing 10% every couple days. With 20 plots (2TB) it will take you 6 months to win anything. In a couple weeks that will be a couple years.
Plots themselves are very compute intensive. Not sure why they'd ever say this is green. A decent gaming system could do 10 plots/day. Unless you have a server with 32+ cores, enterprise NVMe SSD (or a huge parallel raid setup) you're not going to plot fast enough to catch-up with the increased complexity.

Now all of these are concerns and in some cases showstoppers for small-time miners. The real showstopper, however. The one that completely breaks this is that for whatever reason Bram and his cohort decided to premine 21 million coins. Whereas right now there is <500k coins out for CHIA miners to win. It's estimated over 25 years CHIA miners can win 21 million coins. These coins cost *nothing* for the chia corporation to create, yet they are going to instantaneously have these coins. Now their business whitepaper says they'll have a board that will decide when/if to sell the coins. 90 days notice will be given to everyone when it happens etc.... This is what the chia community says to justify this huge slice of chia pie given to the developers. This really doesn't fly well and beckons back to the early days of altcoins when developers would allocate 90% of the coins for themselves and a mere 10% for the community. Then instant dump when they get the chance. Chia can put this under the banner of a corporation if they want but it's astounding that they, and the chia miners themselves think this is even a close to fair idea.

So a 98% early premine, complexity pushing through the roof, and questionable miner support. This is an interesting coin to experiment with but I'd pass for now.

Yea, I liked the coin but when I saw 21 million premine I was like wtf?? I guess that 90% of the people getting onboard in the last few days don't know this. Nevertheless, I still think they will get a decent launch price
and volume on EXs. The hype is real and currently it looks easier to buy chia for 20$ than to mine it.