FAQ – MineCube

What is MineCube?

MineCube allows you to buy hashrate in 100 GH steps to mine BTC or in 1 GH steps to mine DASH.

Can I only mine BTC and DASH?

Currently yes, other coins will be added in the future.

How much does the hashrate cost on MineCube?

Currently 100 GH/s for BTC cost 4$ as a one-time payment and 1 GH/s for DASH cost 3$.

Is it only possible to buy Hashrate with SCC?

Yes buying hashrate is only possible with SCC.

Is there a limit on how much hashrate I can buy?

In theory no! It might happen that we run out of hashrate to buy for a short while until we add more miners to the network. There is no limit to how many GH a user can buy.

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 in the end.

When I bought hashrate on StakeCube is it possible to cancel my share again?

Currently not, the hashrate you buy is currently non refundable. A secondary market that allows you to sell your hashrate to other users is being worked on.

Do I buy a share in a miner?

No, the hashrate is independent of any physical miners. Even when miners break or are not profitable any more we take care of replacing them to guarantee for the hashrate you bought.

Does that mean the hashrate I bought is eternal?

In theory yes! The hashrate is not fixed to a single miner but we will take care of replacements and maintenance of the miners to provide you the hashrate you bought. As long as  mining in general for that coin stays profitable your hashrate can run forever.

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.

Will the reward generated by my hashrate 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 hashrate?

Mining rewards are currently being paid out once a day.

What happens to the SCC I pay for minecube?

Approximately 50% 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 hashpower. The other part is stored with StakeCube to build up reserves and to take the coins out of circulation.