Part of my plan has been to have fun mining and make a little money doing it. as my previous posts have shown, it can be an expensive hobby if the wrong people are trusted. I moved into home mining to keep some control over my investment.
However, there are benefits to be had from the large scale mining outfit. On a larger scale you can realistically help to hit blocks and make it pay – just. But if there is no-one to trust in “the cloud” how do you mine on that scale ?
The answer, I have found to my pleasure, is a group of like minded people called Get Hashing. This place is different. From the forum where I first got to know these guys, to the group focused mining where payout stress is a distant memory – this place is great.
These guy have been working with colored coins, a blockchain technology that allows assets to be traded over the bitcoin blockchain. The tech also allows for dividends on those assets to distributed automatically to all those who are due them. The only requirement is a color aware bitcoin wallet. GetHashing have designed a new wallet which runs in your browser, or you can use CoinPrism. It must be color aware because the assets “live” in the satoshi shrapnel, those last 600. A normal wallet would not preserve their significance.
I am the first to admit I am no expert on the blockchain or colored coins, but the transparency and historical data provided by the blockchain make the whole enterprise totally transparent. We can see as asset holders, how much has been mined, which machine did it, and which wallets it has been transferred to.
Get Hashing has gone further, and created other kinds of revenue via ads on the forum and rig rentals. It all goes into the same pot and shared according to asset holdings.
To get to the point – I bought assets in the first batch of the colored coin mining operation. These shares are called Get Hashing Coins with a ticker of GHX. Each GHX is worth 10 GH/S of genuine S5 mining power. Initally the cost was just under $5 per share, but with freedom to trade your GHX with anybody, without restriction, at any time, prices have varied.
Well in the spirit of more power, GetHashing have just announced Batch 2 of the GHX. Another 217 S5 units will be added, which equates to 250 TH/s.
This brings us (and I mean us – I feel like I belong) up to 500TH/s which can be distributed more effectively to help guarantee hitting some good streaks. We are not solo mining, the hardware is hosted by Bitmain and administered by our resident experts and founders.
There are a lot of other benefits from this community. A good, intelligent forum with strict “don’t insult each other” policy, means we don’t troll each other. As we are pretty much composed entirely of ex-HashTalk members, it is time to behave properly once again.
It’s nice, you’d like it. Pop over to the forums for a chat, have a look at the cloud interface and asset reporting. If you like what you see, you could even by a share of batch 2, priced at $5 per GHX.
It works, it’s not risk free, but it’s closest you come (this is bitcoin mining after all). The people are good people.