The questions that are stopping you from investing in GetHashing


#1

Greetings

If you had to think to yourself, what is the questions you would like answered, which would convince you to invest in the GetHashing Platform - what would those be?

Please take the time to think about this, and post a question or three, that you would like the team behind this to answer.

We will spend some time today, trying to answer as many of them as we can, as openly as possible.

V


GHcoin Mining Operation Shares & Definition (B1 CLOSED!)
#2

Good idea.

Let’s start with: What’s to stop the team behind it redeeming all the hardware and disappearing off into the sunset once they’ve raised enough money? What part of the digital token actually comes with a contract which is legally binding to the people behind the project to prevent this?

Don’t forget guys, I’m not a hater so be gentle with the shadow bans and ban hammers…oh, hang on…wrong forum, carry on :stuck_out_tongue:


#3

Another question: I’ve seen you guys hyping up the sales, I understand you have to raise a certain amount in a limited time to take advantage of the offer you talked about, however, there are other factors which we can’t price in to our decisions yet, such as the nature of the exchange you talk about.

There are simply too few details and last time I brought something on blind faith without checking the details it ended up being a cashtaker. Is there any way you can release more of the details to give us a clearer picture of what we’d be buying in to, within the time constraints set buy your deal with the hardware manufacturer?

edit I just noticed you posted this four hours ago. People are chucking money at you on blind faith just like with GAW and they don’t even want to ask questions after the fact? Weird. :slight_smile:


#4

Hey Bob

Second question first :smile:

We are as we speak, preparing a release to the forum that will elaborate on a lot more of the details of the project. Due to some time zone differences, that release will probably only go live in another 8 hours or so.

I’ll see if we can get as much info as possible into it, without “pre-announcing” things we cannot deliver on. The one reason this is a bit of a leap of faith, is that we cannot provide a platform, without having a small amount (250TH) of mining to work with. The further features of the platform, can only be openly established and promoted, once we have a guaranteed working platform, whereas currently a lot of it is in late Alpha stage.

Put in other words, we would like to under-promise and over-deliver, instead of the usual Overhype and under deliver that a lot of crypto industry players seem to fall short at


#5

Ok, I’ll look forward to your response to the first question soon then as well as the further detail release :smile:

After getting burned by GAW my word means squat to my friends right now, so I can’t even mention this too them until we’ve got some good solid details to work with. My credibility is on the line so if you can show something that is more than just a leap of faith, I may be able to approach them :slight_smile:


#6

One question that is still unanswered is what will be the payouts for say 1TH = 100GHX.


#7

As a portion of the power will be mining BTC, another portion Altcoins, and another portion set for rentals on well known renting sites, It is currently difficult to specify a number.

BTC is fairly simple, Diff, Hashrate, and BTC Market Value will bring standard returns.

Altcoins will be based on their market values, and at which rates they are exchanged as well as, how often they are paid out, without hurting the coin’s personal values.

Renting will be set around market value for the sites in use, this as of today ranges anywhere between .0124-.013 btc/th

With staking wallets and a percentage being utilized to increase network weight, while exchanging a percentage would act as the altcoins would.

These all will pay a role in payouts.


GHcoin Mining Operation Shares & Definition (B1 CLOSED!)
#8

I would like to support you, right now my crypto funds are tied up in a stuck transaction. If there is anything else I am capible of doing let me know, Ideas and such, cant program unless you like bugs.

I am currently working with proof of stake coins, as my days of hardware mining are about over, to much hardware online for my taste atm.

If you decide to run some proof of stake wallets (BLK in particular) I would be happy to send what little I have left to help out.

I wish you the best and hope lessons learned from elsewhere are applied. -DumbRedneck/Mpat120


#9

Well that is a start anyway. So it would be a max of 0.0124-0.013 btc/th due to the renting and a low 0.012 according to coinwarz 250TH generates about 3BTC/day.

Something else that is not very clear is the fees. Are they prepaid? Or are they deducted from the payouts? I’ve seen both mentioned and want some clarity on this.


#10

Fees will be deducted from the payouts. Currently, the only way we could create a prepaid option would be to only offer 3-6 month ‘contracts’.

Although, we are looking at other options to make this a possibility.


#11

Since there’s people here involved with the project may I just re ask my initial question:

What is there to prevent anyone who is setting this up from simply waltzing off into the sunset with all that hardware? Is there any kind of legally binding contract, will the digital tokens be recognised by the owners of the data centre as proof of ownership? Will we need a pre existing relationship with them to withdraw hardware? Where about are they based (this is so we can judge roughly what it would cost in the result that we chose to redeem hardware)?

Ta :slight_smile:


#12

I read somewhere that shipping the hardware can only be done after 90 days of operation. This is a bitmain limitation I believe. Does not really answer your question I know. But if this limitation is in place that would limit the exposure of fraud already.


#13

There are a number of ways to answer this. I’m going to answer it the way i think is best. Any one from the team is welcome to answer in their own way as well.

The GH Team. Checks and Balances. And our integrity. Many know a few of us, some know most of us. There are those who have proven their integrity and that they are unable to accomplish any ill will on others.

Once coins are issued to your wallets they are then automatically transferred to a MultiSig cold wallet. This enables us to make sure no one person has full control of the funds, the different sigs have been dispersed in a way that would stop any colluding to that manner.

This can be discussed with the Data Center, as of today there has been no discussion. This is being built as a platform for the community, if this is wht they would like to see, we can ask that question.

No, your coins alone serve as proof of ownership to the GH Team, after the initial 90 days of Batch 1 hardware is available for shipping after a shipping and handling fee.

This is dependent on the Batch. @cyberdexter will have more information on this once the contract is completed and purchase has been made.


#14

I maybe this has been answer somewhere else I but I didnt see it pass. but can we help the hashrate by using our own hardware.


#15

We will mine alt coins on our own pool. As of this moment, unless we can break 1PH it’s not viable to mine BTC on our own pool. You can help mine any coins on our pool if they’re coins you have the want to support. All mining will be public and you will be informed where we are mining.


#16

So I am right now mining UNB on the pool.gethashing.com so that mean im already helping my piece… But my adress is mining for me… Should we point to a “Pooled Adress” that would mine for the project? Or just the hashrate is good.


#17

Can I Haz ROI?

j/k, but seriously: Beyond the hashing power of 10GH = 1 GHCoin, what will we be supplimenting the payouts as time goes on? I saw some eluding to this, but nothing hard. Also, I saw some references to figures being released, but haven’t seen those figures.


#18

After 90 days, GHCoin is redeemable for hardware, right? Maybe I’ve not understood something, but this means that GHCoin can only depreciate? Even during the 90 day dividend period, the likelihood is that the S5s will decrease in price. After a few months, next gen hardware should start to ship, meaning that the cost/GH should decrease, along with power consumption, but GHCoin still ties 10GH = 1GHCoin, adding more depreciation.

Aside from the value of not having to manage my own physical miners, and the as-yet-unquantified income from GHexchange, staking, and “TBA”, I’m having trouble seeing the big upside.

Any clarification to help un-muddy the water a bit?

Edit: Another question. A limited beta group usually offers some added benefit in exchange for the risk of being an early adopter. If I understand things correctly, it looks like beta participants here get the same income/day as late adopters but still assume a higher risk?


GHcoin Mining Operation Shares & Definition (B1 CLOSED!)
#19

This is actually an interesting question. Any perspective to offer from the people putting this together? Would be nice to know your thoughts


#20

I’ve just been looking about but haven’t seen the answers to several questions yet guys, so if you could help, would be appreciated:

Do the people investing in this venture have any legal claim of ownership over their share of the hardware mining farm (keeping in mind the the colored coins aren’t in any way legal at this time) ?

Does everyone who invests have the opportunity to verify with either the hardware manufacturer or data centre where the machines are stored that everything is working as per the description?

I’m still curious about where the data centre is located, any hints? This would be important information for anyone that considered redeeming hardware in the event of the data centre option becoming unprofitable.

If someone asks for money upfront to use for purchasing hardware on btcJam they are expected to reveal a whole load of personal details, to make taking legal action, in the event that you need to, a possibility. I saw the post where those of you who are organising this group buy mentioned your names and what you did for a living. Given that you are soliciting funds in a way which is not entirely dissimilar from btcJam, would it not be appropriate and likely to engender a sense of trust and safety if the people directly responsible for collecting the money and having legal claim to the hardware did the same thing?

When are the details about all the other parts of this project going to be made public? I know and appreciate the sentiment “under promise, over deliver”, but there are ways of expressing your intentions and how you plan to achieve them without “promising” anything. For instance, the talk of an exchange: What stage of development iss it? What is it that will make it a popular and useful exchange compared to the multitude available already? Who will have legal responsibility for maintaining the exchanges hot/cold wallets and providing security?

If someone chooses to redeem the hardware at any point then a certain amount of the coloured coins are “destroyed” - since the proceeds from your staking and exchange are going to be distributed to the people who own the coloured coins, if there are less coins because the hardware is taken offline will the proceeds be shared equally amongst the remaining coloured coin holders? Is the process for distribution of fees going to be automatic and transparent, or is there going to always be an individual that will have the ultimate say in what and how the fees are distributed?

Still very interested to see what this project can achieve, since there are a lot of clever people involved. It has the potential to be an amazing project. Hope you can put it all together :slight_smile: