What is MineCube?
MineCube allows you to buy Workers, which are shares in our mining pool that currently mines BTC, LTC, ETH and DASH.
How much does the hashrate cost on MineCube?
The current price for a Worker is 4$.
Is it only possible to buy Workers with SCC or Credits?
Yes, buying Workers is only possible with SCC or Credits.
Why is the SCC price used for Worker payments different to the one displayed on the wallet page?
The SCC price used is an average price based on the trades on StakeCube Exchange over a longer period and prevents extreme price fluctuations through pumps & dumps or through big price differences on other exchanges.
Is there a limit on how many Workers I can buy?
In theory no! It might happen that we run out of Workers to buy for a short while until we add more miners to the network. There is no total limit to how many Workers a user can buy in general, but we might add temporary limits if not enough Workers are available to satisfy the demand.
Why does the price in SCC change frequently for a share?
The price is calculated in $(USD) currently. Fluctuations in BTC price or the price of SCC affect the amount of SCC you will have to pay if you choose SCC as payment.
When I bought Workers on StakeCube is it possible to cancel my share again?
No, the hashrate you buy is currently non refundable. A secondary market that allows you to sell your Workers is planned.
Do I buy a share in a miner?
No, the Workers are independent of any specific physical miner. A miner grants you a share in the mining rewards generated by the mining pool.
Does that mean the hashrate I bought is eternal?
In theory yes! As long as mining in general (for the coins being mined) stays profitable your Workers can run forever. In case of damage miners will be replaced within their warranty time and we try to fix them even after that period.
What happens to broken miners?
Sometimes it happens that miners break. In warranty cases or in cases in which they can still be repaired, we will get them fixed and they will be set online again. Only miners that are irreparably broken will stay offline and are not being replaced.
What is the advantage of using MineCube rather than buying my own hardware?
By buying workers on MineCube you don’t buy shares in a specific piece of hardware. You rather buy a share in our total mining pool consisting of hundreds of miners. This spread over several devices reduces your risk, as you still get most of your rewards in case a miner breaks irreparably. We also take care of warranty cases and repairs after that time to guarantee you the maximum outcome for your mining investment.
How likely is it that mining becomes unprofitable?
Through our partners we can provide much better conditions than most other mining providers. We are running the latest, most efficient miners and are able to run them on minimal electricity costs. Because of that our mining operation can be still running profitable while others will have to shut down already.
What does the ‘Accrued Balance’ stand for?
The ‘Accrued Balance’ is an estimate amount of the rewards your Workers generated since the last payout. The amount is just an estimation taking into consideration last payouts, current mining rewards and several more attributes.
Why does my ‘Accrued Balance’ sometimes drop?
As it’s just an estimate value, the balance can adjust upwards or downwards when factors affecting the calculation change.
Will the reward generated by my Workers always stay the same?
No, mining is a very complex operation that depends on many factors. Those factors include prices for new miners, electricity costs, the general hashrate in the network, mining rewards and many more. Therefore it’s normal that mining rewards can fluctuate on a daily basis even. One day you might receive a higher reward and another day it might be lower. To get a better understanding about the approximate mining reward its therefore better to look at medium term averages rather than daily rewards.
When and how many times will I receive the rewards generated by my Workers?
Mining rewards are currently being paid out once a day.
Which currency will I receive as a payout?
The default payout currency is BTC. You can currently choose between BTC, SCC, ETH, DASH, LTC and DOGE. Other currencies will be added shortly. Soon there will also be the option to allocate a certain percentage of your payout to more than one currency.
What happens to the SCC I pay for minecube?
Approximately 75% of the obtained SCC is re-sold on our internal exchange on a sustainable basis to buy new workers/miners and to cover the demand for new Workers. The other part is stored with StakeCube to build up reserves and to take the coins out of circulation.