Introducing GHminting - An Exclusive GHX Perk


#1

We’re pleased to announce the launch of GHminting - PoS Coin Staking

GHminting will be rolled out to GHcloud later today together with the official release of GHcloud v0.8 which contains a wide range of updates, new features and fixes.

What is GHminting?

GHminting is a Proof of Stake (PoS) coin staking benefit, exclusively offered to owners of GHX mining shares of GetHashing.

We’re staking PoS-based coins in our system and the minting rewards from the staked coins are used to augment GHX payouts. Proceeds from staking are aggregated in special staking reward accounts and will be exchanged when market rates are deemed most favourable. These funds are converted into Bitcoin and support GHX mining payouts.

All GHminting transactions are processed through the GHcoinex account.

GHminting ToS

GHminting is staking selected altcoins which are mined through hashpower owned by GetHashing, not part of GHfarm. All staked coins are the property of GetHashing.

GetHashing reserves the right to increase or decrease staked balances at any time or, to discontinue the bonus program at GetHashing’s sole discretion.

GHminting FAQ

Will I be able to stake my own coins?

The short answer is, no.

Ever since we’ve first mentioned GHminting our members have asked us many questions about the concept. One important aspect to note about GHminting is that it’s entirely funded by GetHashing as a perk for GHX owners. We won’t offering “staking wallets” or offer means for our members to deposit to those staking wallets. The reason for that is that “staking wallets” or wallets that are staking coins from “3rd parties” or “customers” can be classified as a savings account. Distributing the return from those saving accounts through our farm payouts would classify GHX as a security.

In addition it is our philosophy that we do not want to operate hot wallets or customer wallets and “hold” funds of our members. This is why GHwallet was designed the way it works. You control your account, you control your keys and your funds. Therefore we will not offer staking accounts.

What coins will you be staking?

GetHashing will be staking a variety of selected altcoins. Some of them because we believe that supporting those coins and their exposure is the right thing to do (despite there staking reward possibly being lower than the rewards of other coins). We’ll be also staking coins with higher or insane staking rewards which will benefit the GHX owners when GetHashing exchanges the accumulated staking rewards.

Upon launch GHminting will be staking:

  • Blackcoin
  • BitcoinDark
  • PayCon
  • Peercoin
  • ShadowCash

How will you increase the staking balance?

We’ll be increasing the staked balances by actively mining the coins we’re staking on different pools. The hashpower dedicated to mine those pools is owned by GetHashing as part of our GHsolo operation and not power diverted from GHfarm / GHX. Only mined (generated) coins will fund the GHminting rewards program.

Will you also trade these coins?

No. We will mine the coins and stake the coins. We’re not trading or purchasing coins to fund GHminting or to increase the revenue.


GHminting was also brought to life to support the network of the coins that we’re staking. Our staking wallets are naturally nodes as well. Talk about supporting crypto…

Please feel free to post your comments and questions below.


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#2

#3

GetHashing - The Free Software Foundation of crypto :smile:
I like the attitude.


#4

This sounds awesome, just wondering how it will work with PayCoin as this is not mined?


#5

GHminting is like a Kinderegg, 3 things in one.

  • Supporting GHX
  • Supporting PoS coins
  • Support their Networks

Get Hashing! :slight_smile:


PayCon not Paycoin. :wink:

But in general we’ll be mining the staked coins on Multipools that payout those coins. Only that instead of dumping the mined coins we’ll be adding them to the stake to grow the program.


#6

Oops my bad. Continue…


#7

Sounds awesome!


#8

This is awesome! Guess it’s time to move some BTC around and pick up some more GHX! Super excited about the progress and innovation going on at GH.


#9

It is awesome to see functionality that was promised actually being implemented not only for the benefit of GHX owners, but to also sustainably help support the coin networks involved!

Since in crypto “coming soon :tm:” is the norm, it’s a rare (and welcome) sight to see :+1:


#10

Wow, sounds fantastic for everyone involved.

Thanks for all your hard work chaps!


#11

Guaranteed not to choke small children :slight_smile:


#12

This sounds great!


#13

Thanks for the efforts :smile:
You guys have been done a great job


#14

@keymaster The GHteam never ceases to amaze me in their ability to produce fantastic projects that are not only profitable, but transparent.

I do have one concern about this project as time progresses.
What are the requirements for a POS to be accepted into the project?
What are the requirements for a POS to be rejected and removed from the project?

I see Paycon in the list and we all know its a weird satirical joke coin that eventually can die or be abused, hence the inquiry.

Additionally when will GHrewards for this minting be paid out to GHX holders?


#15

Nice project. :+1:


#16

The name PayCon downplays what it can do, all focus is on the profitability of the Blockchain itself in a decentralized manner, GHminting will help showcase this.

You can hit up the PayCon threads if you want to talk about Staking, transparency is the name of the game.

GHminting is GREAT!

Fantastic Job!!


#17
  • Staking profitability, coin development and market value
  • The same as above or the desire to support a specific coin.

For example, Neos “might” go PoS. If that happens we will definitely stake Neos.

Over the next weeks we’ll be actively mining the coins we’ve added already and add new ones as we move along. Of course the community is welcome to suggest coins.

I see Paycon in the list and we all know its a weird satirical joke coin that eventually can die or be abused, hence the inquiry.

Actually it’s not a joke. We’ve decided to stake PayCon because @Crestington (and co) has done a great job in the coins development and the staking rate is 50%. Thus PayCon is a very viable coin to stake for GHminting.

@Crestington thank you for your donation :slight_smile:


#18

Nice!


#19

Actually it was supposed to be adjusting as per difficulty up to 100% per year, reducing and difficulty increased, down to a minimum of 50% per year with a maximum of 30 Coins per Block. There was a light miscalculation in the coinage and the stake rate was high enough that it always is the maximum so every Block is worth 30 Coins but it works well. I want to do more tests to see what kind of unique hashing it would be getting as you could surely improve security if the rate were static but the amount truncated was unique.

30 Coins per Block at 1 minute Block Time is approximately 15.5 million Coins per Block, currently there is 6 million Coins but at the amount per year is static then you also gain more reward so there might be 350% increase in float over the next year, but 100% of the Coins are not Staking so if you only Staked, you might gain 700% over the year.


#20

This is just awesome :smiley: