GHcoin - Payouts Explained


#1

How do payouts work and when are they processed?

Payouts for the GHmining operation run daily between 17:00 - 20:00 UTC*. Every day prior to the payouts all funds are consolidated in GetHashing’s mining account on Coinprism from the GHmining and the GHrigs coin generation accounts.

Once the revenue of the last 24 hours from the above addresses has been consolidated the gross maintenance fee for the entire farm is deducted which is $0.0013* per GH/s or $650 / Day for 500 TH/s.

The remaining balance is distributed among all GHcoin owners based on the percentage of GHcoins each coin owner holds in their account “at the time of payment”. Payouts are credited automatically to the BTC address associated to the asset address of the coin owner.

(* Maintenance fee reduced from $0.0014 to $0.0013 / GH/s as per May 8, 2015)


How can I follow the money flow?

Below you’ll find a money flowchart which displays exactly how the GHmining funds flow every day and all transactions are recorded on the Coinprism blockchain. This allows anyone to review the transactions or audit the money flow at any time. If you have additional questions, just ask.

(Overall hashrate outdated)


Addresses:

Maintenance fees are moved to our cold storage address from the GHmaintenance address daily after payouts have been processed.

Please note: A separate topic has been created by us for “daily payout discussions and questions”.

http://forum.gethashing.com/t/the-great-ghmining-payout-discussion-thread/1165


Dividends for GHstaking will run weekly and those haven’t been implemented yet. GHstaking is still in alpha.


GHcloud feature requests
PONZI - Scrypt.cc [shorted payouts, missing MH, the lot]
PONZI - Scrypt.cc [shorted payouts, missing MH, the lot]
Where to invest?
GHrig - Rent a Rig!
GHcoin Payouts & Discussion Thread - Old Thread
GHcoin Payouts & Discussion Thread - Old Thread
#2

#3

Great work, following the plan and moving forward :stuck_out_tongue:


#4

I find this part hard to believe.

(It usually takes me about 11 months to start using the new year too.)


#5

There i edited and fixed :smiley:


#6

Thank you :blush:


#7

What is the difference with ghstaking and normal divident payouts?


#8

What about revenue from other streams?

AD revenue and any new ventures that might start up could produce significant revenue. What would the breakdown be on non-mining profits be?

What percentage of profits do ghcoin holders receive? after expenses of course.


#9

No one?


#10

The normal dividends come from mining. The ghstaking is still in alpha and @cyberdexter is working out the details.


#11

No difference. The GHminting rewards will flow in the dividend payments on a regular basis or to boost payouts on a bad mining day. GHminting is still in dev and will go into beta once we’ve completed the current tasks on the project matrix.

At this moment all generated revenue flows into the GHcoin dividends as reflected on the accounts displayed on the cloud.


#12

I’ve noticed that the word (Shares) has been added to the end of GH Coins on the Coinprism page. I thought we were trying to stay away from such language to avoid the attention of three letter agencies?


#13

Technically speaking, if the mining operations are completely outside of the United States, none of the three letter agencies have any jurisdiction. Think of it from the perspective of KnC cloud-mining. You can only purchase into that if you are outside of the EU, avoiding infractions against EU laws (and the related liabilities). If any of the operations of GH are inside the U.S., then there could be issues with that, but there would have to be a measurable and or significant percentage of the operations inside the U.S. for the various agencies to take notice of it. In many cases, “size” does matter. The cost basis of pursuing any litigation of any entity must be warranted for such actions. Moreover, when the general public have access to the purchase, sale or general trade of the tokens, then it certainly falls within their jurisdiction, but this is not presently the case, as far as I have seen. The “shares” represent ownership of a small group of people involved in a private “venture” that is registered in another country outside of both the U.S. and the EU. The purchase and sale of GHcoin is done in a private environment of registered forum members. You cannot sell GHcoin outside of this environment at present. As long as that remains the case, there is little to no risk of any EU or US entity intervening. The use of the term “shares” may also not be accurate in this case. The SEC has requirements for registration of “shares” of any public U.S. incorporated entity. In the EU, there are similar requirements. For private corporations, the requirements are much less, when the composition of the shareholders has one or more things in common with each other. An S-corporation in the U.S. also has “shares” of the company, but they are not traded or exchanged on any recognized stock exchange. Therefore, such shares are of no interest to the SEC, until such time that these shares are sold, in any capacity, to public persons who do not share at least one common attribute with the company owners/partners. You can bring new people into the corporation, selling them shares of ownership, as long as they have something in common with everyone else in the corporation, such as all members being attorneys, dentists, doctors, etc. Companies domiciled in tax havens must only comply with the laws of that specific country. These laws are generally quite loosely structured though.

Finally, on the SEC website, there are sections relating to “private investment clubs.” Presently, the SEC does not require private investment clubs to register. However, in the U.S., if the investment group is all located or incorporated in one specific state, there may be state laws that require the registration of such groups with state revenue agencies. Each state is different in this regard however.

It is all so complicated anymore. :open_mouth:


#14

You know the real reason? For EU they have to give a 30 day money back guarantee.


#15

I understood every bit of that and that satisfies me for an answer. Just a CYA thought I had. Thanks for the enlightenment @Allen1980s :slight_smile: Have a great weekend brother :+1:


#16

Yes, this does not go well with crypto, since you are paying miners out every day. How would you be able to get that money back?


#17

Has been there for a while now (since the IPO). GHX owners own “shares” in the GH mining operation and not shares in GetHashing (as entity). There was some confusion in the early stage about the word “coin” so the “shares” part was added by us for clarification. Apart from that @Allen1980s pretty much nailed it on the head.

[quote=“Daffy, post:14, topic:1164”]
You know the real reason? For EU they have to give a 30 day money back guarantee.[/quote]

Obviously this wont happen and since we’re not interacting with Fiat there wont be any charge-backs either. Fortunately there is a good demand for GHX so anyone can easily sell his GHX within 30 days if they are unhappy with them. GH might even start buying back at one point as well.


#18

Well for KNC I was trying to order in BTC and was refused too. I’m not saying this is a problem got GH this was a problem for KNC.


#19

I moved 2 posts to an existing topic: Forum Updates


#20

OP updated with correct payout time 17:00 - 20:00 UTC