Yesterday I posted an article about an argument Flexpool was making in favour of everyone replotting and joining an on-chain pool. I still believe that is a good idea for the reasons listed out in that post, however there are some very good reasons why someone may not want to do that and we will go through those here.
The first, and most obvious, is that it takes a lot of time, has already been done and is hard on SSDs. These are all true, and very good reasons. The need to replot exabytes of plots really puts a dent in the “greener cryptocurrency” label as that is a lot of electricity and compute. It will forever be a stain on the Chia blockchain that this even needed to occur, even if it does and causes no other issues.
The second is that it doesn’t give a whole lot. This is actually true, because over a long enough timespan you should get the same payouts + fees from solo farming or OG pool farming vs on-chain pooling (minus fees). This is hard to argue against, and anyone who is solo plotting probably shouldn’t bother to be honest if maximizing profit is your primary motive. Replotting will only harm that goal, not help it.
The third reason is because “screw you Chia, I don’t have to do anything for your benefit”. This is absolutely true, but actually easy to dispel; Chia Network doesn’t actually care either way as long as the network is secure. Solo farming is fine. On-chain pooling is fine. Hpool is fine too, as long as they don’t use their size to organize a blockchain takeover with the other large custom software companies. The biggest benefit to doing this is because if a 51% attack occurs, or if there is a big Dev vs Pool war like the Bitcoin Blocksize disputes, then the fact that the OG pools have to use custom software could be a real big problem for the price of the assets you are holding. But that’s a big if, and a remote risk does not mean you should have to replot.
The fourth argument against replotting is my favorite, and gives me personally the biggest hesitation to replotting. And that is the forks. Right now none of the Chia forks support the Chia blockchain NFT plots. Some support the same technology, such as Flora, but they do not support the same NFTs used to sign the portable plots. This is a huge problem, and if everyone were to move over every plot right away it would mostly kill the forks. I do not want this to happen, and I think it is vital that the forks create a mechanism to read the NFT plots off the Chia Blockchain or they are at great risk. There is some conspiracy thinking out there that the reason for the NFT plot architecture is to kill the forks, but I don’t think its true. First they aren’t a threat, and second the plan was in place prior to any forks launching. But the effect is still the same, with a massive threat to the viability of the Chia Fork ecosystem.
If you are on the fence about replotting to NFT plots and you are happily farming with Hpool or Core-Pool, or you are a big fan of the Chia Fork ecosystem there is a good argument to be made that you shouldn’t replot. I’m curious to hear what people think. Here are a list of the Off-Chain pools we have covered, and other than Hpool who did not talk to me after I tried to reach out, I honestly think they are fine and have the same motivations and similar incentives to the on-chain pools.