Ok, I've got several orchids that I need to repot, and I know that I can go and buy orchid planting medium. What I want to know is what is so special about the bark in commercial orchid medium? Is it bark from a special tree? Why can't I take bark from a fallen tree, run it through a chipper (I actually have about 40 lbs of aged, chipped bark), add some perlite, vermiculite, and compost to make up my own mixture?

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Composting is more than good for your garden. It's a way of life.