Reviving XCH | Farmers Face Price Plunge 🤣
As XCH prices continue to drop, farmers are increasingly worried about their investments' futures. Ongoing debates within the community reveal deep concerns over demand, confidence, and potential advancements in technology that could aid recovery.
Market Downturn Intensifies
Members of forums are vocal about their frustrations regarding stagnant demand and increasing supply. One participant noted, "No demand, and CNI constantly dumping tons of XCH," emphasizing the ongoing market troubles.
Community Voices Speak Out
Notable trends emerged from recent comments:
Lack of Demand: The desperation is palpable as farmers question the effectiveness of their efforts amidst the price plunge. "Refresh to the market maker is what they call dumping the prefarm these days," one user remarked.
Investment Challenges: Some farmers suggest that even higher XCH prices may not significantly improve their situation. A commenter stated, "Even if XCH exceeds $1000, farmers' income will not increase 100-fold." Another added, "Token price is a proxy for user adoption."
Future Use Cases: Despite current struggles, community members discuss the technology's potential, specifically mentioning that if CNI/Permuto succeed, it could drive demand. "Chia's real utility is teaching thousands of people the five stages of grief… in reverse," quipped one user, adding a touch of humor.
"Better to wait and see if the price improves while holding a few coins to sell later," reflects cautious optimism amid adversity.
Sentiment Among Farmers
Sentiment remains largely negative, driven by frustrations over dropping prices. Yet, some still hold onto ideas for potential use cases for XCH technology. One farmer is working on a project aimed at boosting XCH's utility for AI storage, hoping to pull the token from its current struggles.
Important Insights
△ "Chia is the only project where the roadmap, the price chart, and the developer’s blog are all horror genres."
▽ "Could it be because it broke the rules?"
※ "Who is going to dev for the Chia Blockchain other than CNI?"
As challenges persist, the XCH community is left with urgent questions: How can they revamp their strategies to sustain their investments in this turbulent market?