I'm so confused!

Categories GetHashing Discussions GHsupport

LogicalParadox 2015-03-26 18:47:39 UTC #1

Just created an account on GH and I have to admit I can't make heads or tails out of it. It it cloud mining? Can I buy hash power? Where do I buy hash power?

I R confuseded

lothendriel 2015-03-26 18:53:12 UTC #2

The GHCloud is basically an interface where you can keep track of your assets like GHX and you can create wallets for BTC, LTC, DOGE and DRK and retain the private keys.

Here's a brief explanation on how to set it up - https://forum.gethashing.com/t/ghcloud-public-beta-launched/1594

mharter 2015-03-26 18:56:44 UTC #3

Exactly what @lothendriel said. GHX is the share of the GH farm. Currently GHX is sold out, waiting for batch 2 coming up in the next days to weeks. The cool thing with GHX is that it is backed by real, actual hardware. If you have enough shares to make an entire S5, you can have it shipped to you (you pay for shipping) if the cloud goes under. Much less risk as you are paying for a miner. Plus we have pictures here of our farm.

Not to mention the brain power working on this project. I set it and forget it. I completely trust this team. It is weird not having to stress in a cloud mining operation.

I am always up for helping new members, so if you would like, I will sell you some of my GHX shares to get you started and familiar with what this crew has going on over here...really awesome stuff! I would be willing to part with 16 for $5/GHX in BTC.

Allen1980s 2015-03-26 20:42:16 UTC #4

How many terrapetaquadroflopping hash do thay have presently?

Allen1980s 2015-03-26 20:44:13 UTC #5

This animated gif is hilarious.

mharter 2015-03-26 20:44:22 UTC #6

250 TH I do believe. 25,000 coins.

Allen1980s 2015-03-26 20:45:00 UTC #7

Wow, okay. That's a lot of floppyhash then.

mharter 2015-03-26 20:54:22 UTC #8

Yes indeed! And it's real too...there's pictures of the farm floating around here. Very comforting.

cyberdexter 2015-03-26 21:13:49 UTC #9

Welcome @LogicalParadox

I guess the others have already provided some info so I'll just add a little to it.

Just created an account on GH and I have to admit I can't make heads or tails out of it. It it cloud mining?

Yes we're mining though we call it crowd mining since our hashpower is community owned and we're adding small batches of power as we grow. Our mining shares are called GHcoin (or GHX) which is a smart asset stored on the BTC blockchain. This makes GHX the first freely tangible mining shares that can be transferred to anyone with an asset address (color aware wallet).

Like mentioned batch 1 is sold out and since GHX is backed by the farms overall hashpower there is only 25,000 shares in circulation which equals 250 H/s. batch 2 is in the works.

GHcloud is our mining and multi-currency wallet Hub. It is important to note that GHcloud doesn't store any of your data on remote servers and if you do create an account please backup your wallet and the private keys since we don't operate hot wallets. Your entire wallet string (like a wallet.dat) is stored on your end only.

Think of GHcloud as a local wallet with a browser based UI that also gives you access to all other services such as GHpool, the GHfarm transaction logs, mining addresses and your GHX asset info.

I would suggest that you check out the sub-categories of this category and if you still have questions just ask. We're all here to help. Also check out the marketplace. I think there is a couple of WTS threads on there atm.

Eleventhy million and 2