Question regarding GHX in circulation


#1

Sorry in advance if this is a dumb question, but I am having a hard time rectifying the numbers I am finding on gethashing.com and within cloud.gethashing.com.

  1. gethashing.com shows 48,870 (488TH/s) GHX in circulation but cloud.gethashing shows 39,373 (393TH/s) GHX equaling 100%?
  2. cloud.gethashing shows current/recent past hashrate on Antpool at the high water mark to be 310TH/s, well below the 393TH/s shown to be in circulation shown on cloud.gethashing and an even greater discrepancy from the 488TH/s shown on the gethashing.com main page.

Is this information correct? If not, what is the correct total of GHX in circulation and why doesn’t the hashrate show at least ±5% of that number?

I appreciate any insight or corrections to what I am seeing.

-gpatt


#2

Easy answer to one of your questions is that you can find total GHX in circulation on the Coinprism asset page. The other questions I’ll leave to the team


#3

I think most of these questions were covered in the GHX payout thread and the thread about team changes and whatnot all having to do with hardware changes.


#4

This is a question for @Daffy as the GHcloud is correct where the website is clearly wrong.

We have been trying to get everywhere back in sync when things update but there are many moving parts and it’s easy to miss something…

Stick with the GHcloud for now.
Thanks for bringing this to our attention :+1:


#5

Yes cloud is correct we’ll need to investigate why the website is not.


#6

Looks like it was hardcoded into the widget. I’ve fixed it for now and will add a dynamic lookup in just a bit so that it reflects that actually statistics in a real time way.


#7

This portion is due to the farm upgrade discussed in the GHPayouts thread. There’s too much variance when ordering and selling hardware to be burning/issuing GHX all the time.


#8

I appreciate the answers and explanations, I will be honest though if you say you have 393TH/s worth of GHX in circulation that POE should dictate that you have at least that amount of hardware hashing to support those. Based on selling and buying new hardware (which I support) the GHX isn’t really worth 10GH/s per as stated when purchased since there isn’t enough hardware to support the GHX in circulation.

Just my 2 cents for what it is worth.


#9

There is no way in hell a voluntary team can spend the amount of time on administrative overhead that would require. We’re talking a daily process of machines being shipped out and arriving.

edit: The GHX in circulation will be updated once the turnover is done, and this selling/buying was already discussed and commented on by the community weeks ago. Originally, the idea was that the farm would get turned off immediately, but the team is at least trying to keep what they can running to minimize the loss.


#10

Currently true.

If we were to adjust the supply of GHX for the constant fluctuation of actual hardware with the short term direction we are in now, we have to get the GHX from somewhere.

As GH itself has a limited supply for store sales, the remainder would have to voluntarily come from the community like when we burned for B2, but on an every other day basis :flushed:

The logistics and time it would take tracking all that and interfacing with members who volunteer their shares is better spent trying to get the best price as quick as we can for the current hardware replacements.


#11

GHX started with 500TH/s or 50000 GHX we are now down to 393TH/s or 39300 GHX, obviously the GHX has been going down in circulation. Couple that with the fact that GHX are still for sale on gethashing.com at $4.85 for 10GH/s per GHX and it is misleading.

I understand that things are in flux and the GHTeam is trying to upgrade the farm but GHX is still actively being sold as 10GH/s.


#12

The GHX taken out of circulation was a one time event where I personally redeemed 100 S5s when B2 moved over.I believe 2 S7s were also added to the circulating GHX at the time as well.

And rightly so, not very many are selling these days :joy:

As this is a short term issue we can suspend sales if that makes folks happy, but at the end of the day any GHX folks acquire today will meet that 10GH/per threshold once the updates are complete.


#13

I guess I have a hard time wrapping my head around the fact that there is 100TH/s unaccounted for in the GHFarm. That is 90+ S5 or >10% of the farm.


#14

What two numbers are you comparing?


#15

Current S5 numbers:
101 units redeemed to date
37 units sold, pulled, and shipped.
44 units Dead - 24 were DOA from bitmain (was 40, fixed 16)
35 units halfing with a single board, 1 board is bad on each

100 units + all dead and half hashing units scheduled to be paid for to sell next week by Wednesday.

your count vs the reality is off due to the S7’s that have been coming in clouding the hashrate missing.

EDIT:: Next week’s shipping units are going to bring another gain in frustration as it will cause a further delay due to bitmain’s non ship period during the Chinese new year, due to this i’m in talks with Avalon to see about a comparable price per GH to attempt to bring units in sooner than later


GHcoin Payouts & Discussion Thread - Old Thread
#16

GHFarm = 292TH/s vs GHX = 39373 (393.73TH/s)


#17

Even if we were at the expected hashrate, weekly payouts would be ~ $403.21. That would put dividends @ $0.01/GHX

If this process is not completed, and we hit a point where regular mining on inefficient hardware becomes a defecit at 100% capacity, as per the ToS, GHX would go obsolete and shut down.

Although i understand your concern, my concern is the bigger picture, and going the route to make it so GHX survives the Difficulty increases, The BTC Price drops, The Introduction to Newer Gen hardware, while still working to survive the halvening upcoming this year.

This would make GHX the ONLY mining option outside of personal mining to survive each of these and keep going WITHOUT reselling ‘new’ contracts to users and screwing all of their previous holders.

So in my mind it’s, suffer for the short term to survive the long, or get a cent a week, and then lose out on any future opportunity.


#18

Thanks again for all the replies, I do appreciate it.

I think I am used to having control of my miners. I don’t think I am cut out for cloud mining the way it is.


#19

Cloud Mining ‘the way it is’ would have shut down, and killed your contract or hid behind a 1 year contract. Which is why we don’t like being called ‘cloud’ mining.

We’re a community that mines, we have a group funded mining platform, we rather call it ‘crowd’ mining. As no one but coin holders profit from the operation. It’s just a community project.


#20

Completely understand what “cloud” mining is, I was around for “the other site”.

Best of luck to the entire GHTeam.