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How To Farm Chia Coin?

I have a strong passion for cryptocurrency and investments. I have over 3 years worth of experience in it. I am not a financial advisor.

how-to-mine-chia-coin

What Is Chia Coin?

Chia Network has been made popular recently due to its energy-efficient method of mining coins.

So, you've heard of Bitcoin. How exactly do miners mine Bitcoins? To put it simply, miners use powerful hardware, typically ASICS, to solve the algorithms and this in turn generates blocks for the miner. The resulting blocks are how miners earn their Bitcoins.

ASICS is short for Application-Specific Integrated Circuit. The downside of ASICS is that they can only mine a single type of coin. So, if the ASIC is meant to mine Bitcoin, it can only mine Bitcoins.

Energy Consumption

Regardless of how you mine your coins, be it GPU or ASICS, the result is you consuming tons of electricity in order to mine those coins. As long as the cryptocurrency is still active, the difficulty of mine that particular coin will continue rising.

For example, back in 2009, it is possible to mine Bitcoins using laptops. However, now it is impossible to mine Bitcoins using Bitcoins. You can barely mine any bitcoin using GPU mining too! Most miners will require an ASIC in order to mine Bitcoins.


How a Bitcoin ASIC looks like

How a Bitcoin ASIC looks like

Pre-Requisites

Mining Chia is simple and you can most probably do it with the hardware you have lying around.

To be able to plot more plots though, here are some factors that you'd need to consider before building your mining rig.

  1. The more cores your processor has the better for parallel plotting
  2. Ram equivalent to how many plots you can plot in parallel
  3. NVME SSD for your temporary destination
  4. Hard drive for your final destination
  5. A power supply that can support your system configuration. The more hard drives you have installed, the more power you will need to draw from the PSU.

How many cores and ram do I need?

There is no right or wrong answer. It all depends on how many plots your temporary storage is able to plot in parallel. Per plot, it will require at least 2 threads and 3390MB of ram. You can easily do your calculations based on these figures.

If you asked me, I would recommend getting at least a Core i7 with 64GB of ram to maximise your plotting potential.

Software Required

Here comes the fun part. Starting your plotting journey. For this example, we will just be using the built-in plotter. There are several plot managers out there which you can consider but I will not be touching those in this article.

Head over to their official website.

https://www.chia.net/

Click on install Chia Blockchain on the right-hand side of the website. Select the operating system that you will be installing the client on. We will be using Windows for this example.

Once you have downloaded the client, simply install it and run the application.

For first-timers, you will be greeted with steps on how to create your first wallet. For the mnemonic key, please do NOT forget to save this in a secured location. This is your private key. Once you lose this key, there is no hope of ever recovering this wallet.

Install Blockchain

Install Blockchain

Select your Operating System

Select your Operating System

Plotting Configuration

After you have successfully installed Chia Blockchain on your computer, you can now start to plot without having to wait for the entire blockchain to sync.

There are a few settings here which you can customise to suit your system.

When you first log in to the GUI (Graphical User Interface), you will be greeted with the Full Node page. Here you can view the current status of your node on your system.

This page is not essential for plotting but please ensure that you leave the application running as you will need to be synced before you can start farming your plots.

Before that though, let's head over to the Plots tab. Click on Add A Plot.

You will be brought to a page where you are able to customise every single setting for your plot. You can set how many parallel plots you wish your system to perform. You can determine how much ram is used per plot and how many threads to be used per plot.

Here are the recommended settings that you should start with.

  1. K32 - Do not use plot sizes smaller than K32 as they will not be supported in mainnet
  2. Ram - 3390MB
  3. CPU Threads - 2

Parallel Plotting

You have the ability to plot in parallel to maximise your plots. However, before beginning the parallel plot, it is recommended to run one complete single plot in order to identify the time it takes to complete the different phases.

Phase 1 consumes the most resource and CPU cores, therefore, it is best to optimise for this phase. I encourage you to start plotting the next one when one of your plots has entered at least phase 2.

So, make sure you have timed how long it takes for your plot to enter phase 2. With that information, you will now be able to set the delay more accurately.

Happy Plotting

Well, that is all it takes to plot. Enjoy your plotting adventure.

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XCH: xch159y9e8tgvm6jrvg7vjnpm3dsz3cdznxpyc8eznfh7u6k4244979s9ux27p

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