StakeCube in Numbers
The bear market continues, with Bitcoin falling deeper and deeper towards the $35,000 level. It is likely that the reasons behind the fall are not new, as big investors continue to exit positions on high risk assets across all financial markets. However, there are a few new rumors going around. In an earning call this week, Microstrategy has communicated that if Bitcoin were to fall below the $21,000 level they would get a margin call on their debt. Being one of the largest Bitcoin holders, this causes some fear that they might be forced to sell. There has also been controversy surrounding a ban on PoW mining in the State of New York. As usual, they named environmental concerns as reasons for the ban.
But the most interesting piece of news came out today. As it seems, Argentina has been forced by the IMF to restrict and discourage the use of cryptocurrrencies in their country, in order to secure a loan of $45 billion. Before this loan, Argentina was nearing a default on their debt and therefore they probably had no option but to accept. With an annual inflation of 54% Argentina was experiencing a boom in the use of cryptocurrencies. It will be interesting to see how the situation unfolds, as it is countries experiencing high inflation that could benefit the most from using cryptocurrencies, but at the same time many of those countries rely on the IMF to avoid a default.
On StakeCube our stats show a relatively flat week, which is really good considering the general market situation. Our exchange maintained really good volume, even reaching 4.5 BTC on the 5th of May. Almost half of this volume was generated by the PNY/BTC pair that is unusually active lately. The sole exception to this good performance was mining returns, which experienced a drastic reduction this week. Unfortunately we had to discontinue monitoring the Alexa ranking of our website, as they are not offering this service anymore. Instead, we will begin tracking daily SCP transactions, as this is also an important indicator of our performance.
- User Count: 141,162 +0.34%
- Pool Value: 584.11 BTC +0.57%
- Daily BTC Mined: 0.019 BTC -20.83%
- SCC Price: $0.35 -2.78%
- SCC Market Cap: $3,807,000 -2.66%
- Daily Exchange Volume $101,538 +1.93%
- Daily SCP Transactions: 72
Because of the market crash, only two listed coins managed to end the week without loses: Phore and Flits. Congratulations to both!
Top 5 Gainers
- PHR +56.8%
- FLS +5.3%
Coins Moving to the Earn System
The process to move coins to the earn system continues. Last week we moved DOGEC, ASAFE and KTS. Next week we will be moving BITB, RPD, ECA, PHR and SEND. Starting Monday, users will receive daily earn rewards instead of stakes and shared masternode rewards. Shared masternodes will be cancelled and coins in masternode shares will return to their owners. Remember that earn rewards combine stakes and shared masternode rewards.
BTCPOP SCC Listing
This week, SCC was listed on the BTCPOP website, a platform for peer to peer Bitcoin banking. We encourage you to take a look at their website:
The site also features a SCC faucet, where you will be able to make claims every 30 minutes.
Find them also on Twitter:
Derek’s Medium Articles
Derek has written a few more articles about StakeCube-related topics. This week he wrote one about how to make tokens with SCP:
One explaining how to use NodeCube to boost your earnings:
And one talking about Sasquatch – YETI, the SCP-2 token he created some time ago:
More Derek News
This was a busy week for Derek, who not only wrote 3 articles about StakeCube, but also created and airdropped a SCP token to all SCP wallets. It’s called Booger Sugar Token, and it even has a Twitter account. Go give it a follow if you’re a holder!
MeaTec Payouts Active Again
MeaTec has finally reactivated payouts this week, and we received the accumulated reward for the whole offline period: 25 April 2022 to 04 May 2022. Daily payouts have now resumed, although rewards seem to have decreased significantly. This reduction could be explained by the fall in prices and the simultaneous increase in Bitcoin mining difficulty.
The recent fall in Crypto prices has coincided with a big increase in Bitcoin mining difficulty last week. This has caused a very drastic reduction in mining rewards, which should make it impossible to maintain the current hashpower levels. We could be approaching a peak in hashpower, at least until prices experience a significant recovery.
These are some statistics for MineCube as of today:
- 639 users with at least 100% recovered
- 169 average workers per user
- Highest recovery rate: 140.59%
- $2.30 million worth of workers sold
These are some statistics relevant to the mining of Bitcoin:
- Hashpower: 223.22m TH/s +0.03%
- Difficulty: 29.79t +5.27%
- Bitcoin Price: $35,940 -9.11%
And these are the current number of miners for each coin (including damaged):
- BTC: 355
- Dash: 110
- ETH: 18
- LTC: 11
Graphene Airdrop Update
The Graphene team has communicated that they are now close to fixing the airdrops to Phore holders. You can read more about their progress here:
This was their official communication:
Wallets in Maintenance:
This is the status of all wallets currently in maintenance:
- HCC: Explorer is still stuck.
- DAPS: Wallets still unable to connect or sync.
- LUX: Explorer continues experiencing sync issues.
- TUP: Still no fix for the masternode issue.
Since last time we monitored SCP activity, there are 4 new tokens and 28 new NFT collections. As for the coin burn, these are our current stats:
- 33 SCP Tokens: 330 SCC burned
- 280 NFT Collections: 2,800 SCC burned
- Total burned SCC: 3130 🚀
SCC is currently being upgraded with a new mandatory update which will speed up the deployment time of our previous softfork upgrades, this means the SCC blockchain unlocks new abilities and increases largely in scalability.
A list of upcoming BIPs (Bitcoin Improvement Proposals) and DIPs (Dash Improvement Proposals) can be found below:
- bip0112: The CSV upgrade, which enables time-based locking of outputs, this can be used to improve on-chain Escrows or the Lightning Network.
- dip0001: A block size upgrade for greater scalability for SCC and SCP. https://github.com/dashpay/dips/blob/master/dip-0001.md
- bip0147: An upgrade which decreases malleability of transactions, very useful for SegWit integration and InstantSend security.
These are our 3 selected feature requests this week from the #feature-request channel:
- Support for BTC Lighting network
- Sub-accounts for family members (saving account)
- Voting system available to SCC MN owners (regarding future developments)
Wallet Maintenance News
We updated the following wallets:
Previous version: 0.16.1.1
New version: 0.17.0.2
This is a mandatory update.
Masternodes had to be updated, but no masternode restarts were necessary.
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: