StakeCube in Numbers
This was the seventh consecutive week of loses for Bitcoin, and what a week it has been. The implosion caused by the UST de-pegging and subsequent collapse of LUNA has affected the whole Crypto market, causing daily loses of a magnitude not seen in years. Popular protocol coins such as Fantom and Solana have fallen by 50% and 40% respectively this week. Bitcoin also lost the $30,000 level, reaching $26,000 on Thursday. At the moment the price has returned to the $30,000 level, but this could just be a pullback to the previously broken support line. It’s hard to say when the pain will be over, but in these situations it’s best not to make any hasty decisions. The Crypto Fear & Greed Index keeps sinking deeper into the “Extreme Fear” territory, and reading Crypto Twitter that seems a pretty accurate description of the general mood of the market.
As usual when there is a general market crash, SCC was affected, but the price fall of 22.89% are not particularly alarming given the circumstances. After all, even Bitcoin fell 19% this week. Moreover, the recent boom in trading for MONK has been added to the already very active PNY and DASHD pairs to provide very high exchange volumes this week. Keep in mind that the Coingecko volume does not include DASHD, as they still haven’t updated the trading pairs. Our exchange reached 8 BTC of volume on Thursday, and today it is still holding strong at around 6.5 BTC.
- User Count: 141,618 +0.32%
- Pool Value: 567.27 BTC -2.88%
- Daily BTC Mined: 0.015 BTC -21.05%
- SCC Price: $0.27 -22.86%
- SCC Market Cap: $2,959,000 -22.15%
- Daily Exchange Volume $128,997 +27.04%
- Daily SCP Transactions: 36 -50.00%
This week’s top 5 listed coins has only one survivor: PNY. With its recent rise in popularity, PNY has managed to stay afloat with a weekly growth of 0.4%. While this might not seem amazing, this is quite an achievement given the environment. Congratulations to PNY masternode holders!
Top 5 Gainers
- PNY +0.4%
Next Steps for MineCube
Over the last few months we have received constant complaints about the deteriorating situation with MineCube. While mining returns have been negatively affected by the increasing mining difficulty and the fall in Crypto prices, the biggest issues for MineCube have been the ever-increasing number of “damaged” machines and the frequent maintenance downtimes. The StakeCube team has been looking for alternatives, but unfortunately all options seem to entail a great deal of risk. Nevertheless, we have discussed extensively with MeaTec, and we are now in a position to choose between several alternative plans for our current miners.
However, since this decision affects all MineCube users, we’d like to consult with you which of the options you prefer. For this purpose we are preparing a poll. This poll will allow MineCube investors to vote for the different alternatives, with their vote weighted by the number of workers they hold. This way, larger investors who have a lot more to lose will have a bigger say in what our next steps will be. We will make this poll public as soon as possible, but we don’t know exactly when, as we’re still missing a few bits of information. We don’t want to present you with several vague ideas but with several thoroughly researched action plans.
MeaTec Downtime and Electricity Costs Increase
Last Tuesday, MeaTec once again started a maintenance on the miners, and we have received no payouts since then. However, as of right now it seems that the system has been restored and we’ll be able to credit the next payout tomorrow. You can read the announcement here:
This week MeaTec also announced that they will be increasing electricity prices due to unspecified fees and difficulties. This was their announcement:
Daily mining returns have already been falling steadily over the last year, and higher electricity costs will reduce them further. Because of this, we are considering a change to the MineCube system to provide weekly payouts instead of daily. Next week we will inform you with a notification on the MineCube page if we decide to implement this change.
This week, our team member RVG hosted a trading competition on the StakeCube exchange. The prize for the winner started at 100 SCC but has been increased now to 200 SCC. BotCube will be in charge of choosing the winner. The competition ends tomorrow the 14th, so you are still in time to participate!
Check out the rules on RVG’s tweet:
Coins Moving to the Earn System
The process to move coins to the earn system continued this week, with the addition of BITB, RPD, ECA, PHR and SEND. Next week there will be 7 new additions: XP, BBK, AEM, MERGE, 777, COLX, BLTG.
For those of you who don’t know what the earn system is, the Earn system combines rewards from a pool of masternodes and staking coins. Coin holders then receive daily payments proportionally to their holdings. This way, we eliminate the need to reserve shared masternode slots, and users don’t have to worry about whether masternodes are more profitable than staking.
Wallets in Maintenance
This is the status of the wallets that are in maintenance at the moment:
- HCC: The blockchain explorer is still stuck and can’t be used to verify transactions.
- DAPS: The wallets are still unable to connect or sync.
- LUX: Explorer/sync issues.
- TUP: No fix for the masternode glitch, and no new information regarding the release of fix.
- ASAFE: Wallet issues.
Derek dug deep this week trying to find the most useful coins currently listed on StakeCube. These are solid Crypto projects with a proper use case and product. Read more on his medium channel:
Also feel free to give him some claps and follow him on Twitter to be the first to know when he publishes another article!
This week there was a new popular NFT collection being traded on our marketplace. It’s called UniCones, and it is a collection of 50 different unicorn NFT characters. You can check it out here:
With a weekly volume of 650 SCC, it is already one of the most popular collections traded through our marketplace! The price floor is at 25 SCC at the moment; very affordable given the current SCC price.
Collecting Shared Masternodes
Some of our largest masternodes in the shared masternode section are still collecting but close to being full. We thought we’d give you a heads up in case you have some coins you would want to add to one of them.
- SYS: 417 shares available, which is 41.7% of a masternode
- DASH: 150 shares available, which is 3.75% of a masternode (this one might be full by the time you read this!)
- SAPP: 2454 shares available, which is 49.08% of a masternode
Remember that coins in collecting shared masternode slots will continue to earn staking until the masternode is running, and for Dash they will continue to earn interest even after the masternode is running.
With the huge crash in Crypto prices this week, we can expect mining returns to sink very significantly. Given the recent increases in Bitcoin mining difficulty, the current situation must have made a great number of miners unprofitable. However, hashpower remains strong, showing no correction at all for the moment.
These are some statistics for MineCube as of today:
- 640 users with at least 100% recovered
- 169 average workers per user
- Highest recovery rate: 140.66%
- $2.30 million worth of workers sold
These are some statistics relevant to the mining of Bitcoin:
- Hashpower: 223.69m TH/s +0.21%
- Difficulty: 30.01t +0.74%
- Bitcoin Price: $30,322 -18.74%
And these are the current number of miners for each coin (including damaged):
- BTC: 355
- Dash: 110
- ETH: 18
- LTC: 11
This week BotCube has been given a very unusual upgrade! It’s called GPT-3, one of the most powerful deep-learning machine algorithms.
But what does that even mean? It simply means BotCube is alive! (-ish).
You can chat to BotCube by simply pinging him with @BotCube, he’ll chat about any subject you provoke him with. If you’re a little bored and have some time to kill, feel free to have a chat with him! You might be surprised.
SCC Core has had some minor work done to improve the chain with new fast-track’d BIP and DIP upgrades. These will add new capabilities to the SCC chain such as deeper smart contracts, transaction in-transit malleability decreased, and other general opcode hardening.
This will be a mandatory upgrade, with some minor adjustments to help preserve the chain’s stability and reliability, so prepare your Core wallets for next week!
These are the three requested features we have selected this week from the #feature-request channel on Discord.
- Built-in FAQ system for most common questions/issues
- Support for multiple deposit addresses for each asset
- New section “actions” allowing users to check their own deposits and withdraws, including pending transactions showing the current number of confirmations.
As usual, we will review these requests and evaluate their implementation in StakeCube Version 3.
Wallet Maintenance News
We updated the following wallets:
Previous version: 0.18.1.0
New version: 0.21.2.0
Please read the following information regarding the security of your account and funds:
The StakeCube.net team will:
- Never contact you first
- Never ask you to send them or move coins to some other address
- Never ask you for remote access or to install any third party software
- Never ask you for your password or 2FA codes
- Never provide support using direct messages
If you observe any of these listed behaviors, someone is trying to steal money from you. This applies to all of our social media channels. Our team will post official messages in the appropriate channels, and we only offer support through our ticket system on Discord.
Please, also take into account the following measures to keep your account secure:
- Enable 2FA in the account settings
- Enable IP verification in the account settings
- Use a strong password
- Change the password regularly
- Never share your password with others
- Never allow remote access to your devices
- If you require assistance, use only the official channels
- Download software only from verified sources
SCP Wallet is now signed with JSKitty’s public PGP key. This allows users to verify that the wallet has been cryptographically signed and approved by him. Even if our GitHub is compromised, the downloads are still safe as long as the PGP verification confirms that the files have not been tampered with. If you download SCP, please verify the binary against our developer’s public key: