StakeCube in Numbers
It looks like a mild recovery is finally here for the Crypto markets, as Bitcoin managed to regain the $20,000 level, trading now around $22,000. But more interesting than the price action is perhaps the trading volume. This last move up has come with one of the highest single-day volumes of the last 2 years. According to some rumors on Twitter, there is a whale buying huge amounts of Bitcoin on Binance.
The Crypto Fear and Greed indicator also shows an uptick, but not yet enough to take us out of “extreme fear” territory. It is now the longest period the indicator has remained at such low levels, being there since April.
As for StakeCube, we also noticed some improvement, with SCC maintaining a similar Satoshi price despite heavy selling. Dollar value went up, as Bitcoin has also recovered in price.
- User Count: 144,991 +0.25%
- Pool Value: 546.86 BTC -3.36%
- SCC Price: $0.188 +4.44%
- SCC Market Cap: $2,033,000 +4.47%
- Daily Exchange Volume $24,517 +0.76%
- Daily SCP Transactions: 19 -13.64%
Top 5 Gainers
Our best performer this week was Solaris (XLR), more than doubling in price after the announcement of their upcoming swap. However they are hardly the only good performing coin this week, as the recovery has brought double digit percentage growths to many projects.
- XLR +103.3%
- NAV +44.7%
- KMD +26.9%
- SYS +20.6%
Problems with our miners at MeaTec have been accumulating over the last year, culminating in a situation where they have become completely unproductive. Over the last month we have conducted a poll asking the community to choose between three different possible plans for these miners. The first plan would have us switch to MeaTec’s “hashrate system” which would provide a guaranteed fixed hashrate over a 365 day period. The second one was to continue with the current system while MeaTec would look for potential buyers for our miners. The third one was moving the miners to a new provider. We have now counted the votes, and these are the results:
- Option 1: 81605 Workers, 198 Votes.
- Option 2: 48741 Workers, 104 Votes.
- Option 3: 114748 Workers, 124 Votes
Although option 1 got the most votes, option 3 wins the poll as the users voting for it represent a larger proportion of the total number of workers. We have now to coordinate and take the necessary steps to make option 3 a reality. There is a lot of work to be done, and we will be sure to update you regarding our progress. There are also still uncertain questions such as repairing the miners that will need to be answered. In the meantime, you can consult the website of the provider we were looking at for option 3:
With your vote you also provided us with many comments and questions that we would like to address. You will find below some answers to these, but feel free to ask other questions or to debate these answers through our social media channels.
Repairing the Broken Miners
Many of you have either provided options for repairs or asked what our plans are. It is very difficult for us at the moment to create a specific plan because we don’t know exactly what is broken in these machines, or even whether they can be repaired. Once we have the miners in a location where we can examine them we will be able to provide more answers. Nevertheless thank you to those of you that tried to help, we will keep your ideas in mind.
Why do we have to Cover the Costs? Why not just Compensate us?
We are under no obligation to provide any plan for the miners at all or to compensate users for an investment that didn’t pay off. This is part of our Terms of Service:
Nevertheless, we chose to provide these possibilities in order to try to improve the situation for our users, to try to get them the most out of the investment they made.
Just Set up your Own Mining Operation
Although this can seem an attractive idea, unfortunately it would require a huge investment on our part and we are not at the moment looking at this as an option.
Provide Estimates so that we can Make an Informed Decision
This sounds fair but we are unable to provide an estimate on how much the miners will produce, how much it will take to set up everything, how much mining difficulty and energy costs will fluctuate, etc. Rather than give false expectations, we gave the information we are sure of.
Start Selling Workers Again with New Providers
We don’t discount the idea of selling more workers once we switch to a new provider. We would also like to find several different ones in order to diversify. However, there are no concrete plans in this respect at the moment.
Put the Miners in Storage and Wait for the Next Bull-Run
If for some reason the miners remain unproductive irrespectively of which provider we use, this might be a good option. We have not considered this scenario yet.
Coins Moved to the Earn System
This week we moved TUP, SMART, HCC and DASHD to the Earn system, and we plan to finish the process with the remaining coins over the coming weeks. In the meantime we are working to optimize the balancing of the Earn system in order to maximize profits for the user.
Some users have reported decreasing earnings for some coins moved to the Earn system. We would like to remind you that after moving coins to the Earn system, masternodes have to be installed, and these generally take some time to start producing rewards. Nevertheless if you notice an issue please don’t hesitate to open a support ticket. This way we will be able to look at the specific case you reported, and take any necessary measures. Write us at:
There were also some questions regarding the inner workings of the Earn system in general. The process is very simple. We calculate live ROIs for staking and masternodes for all coins in the Earn system. Whenever masternodes are more profitable than staking, we install more masternodes. Concordantly, when staking is more profitable, we uninstall masternodes. The staking pool and the masternodes produce rewards, which we accumulate over a 24h period and then credit to the user. This way there is no need to calculate anything, we simply credit the rewards proportionally to the number of coins the user holds.
We are happy to answer these and any other questions you have, so feel free to ask us through Discord or Telegram.
Wallets in Maintenance
This is the status of all wallets currently in maintenance:
- DAPS: Wallets won’t sync, as they instantly ban all peers.
- KTS: Hot wallet will not load due to network time issues.
- LUX: Explorer API issues.
- XLR: RPC issues.
- TUP: The blockchain forked and the explorer is behind at the moment.
- ULG: Explorers missing and wallet issues.
- VSX: Coin swap in progress.
- KYDC: Cold wallet performance issues.
VSX to SLX Swap
As we informed last week, Vsync is swapping to an SCP token called Stelix (SLX). The swap period for VSX has opened, and StakeCube has prepared a page for you to swap your VSX for SLX. If you hold some VSX and want to swap it, simply visit the following page:
Then click on the “Swap” button. That is all you need to do, you will see there how many SLX coins you will be receiving. The ratio is 5:1, and the minimum amount to swap is 1 VSX. The swap window will be open until the 31st of July.
We have also opened two markets for SLX, which can already be used to trade:
London Whale Event
As we previously announced, on the 4th and 5th of July the StakeCube team attended the Whale London Crypto event. We were happy to meet many new people there with whom we had interesting conversations and built important connections.
Monday there were presentations from Mr Bitcoin, International Academy of Wealth, Power Mining, Vendible and of course, StakeCube. Sadly the NFT artist MX12 was unable to attend the event, as he had to be brought to the hospital. Tuesday there weren’t as many presentations, focusing instead on discussing the topics that had been presented before. We want to show you pictures from the event, but unfortunately they are still unavailable. Hopefully we’ll have them next week.
We want to thank Helmut for organizing such a great event, Roger for providing the venue and all the visitors and exhibitors for the great time we had there!
Wallet Maintenance News
We updated the following wallets:
Previous version: 0.21.2.0
New version: 0.21.2.1
Compiled and updated from the Whale London event!
Previous version: 0.14.10.0
New version: 0.14.10.1
Previous version: 126.96.36.199
New version: 188.8.131.52
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 our support email:
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:
Social Media and Other Important Links:
- Discord: https://discord.gg/RTJKjdwEsY
- Telegram: https://t.me/Stakecube
- Facebook Group: https://www.facebook.com/groups/964396784312480
- Facebook Fan Page: https://www.facebook.com/StakeCubeEcosystem
- Twitter: https://mobile.twitter.com/stakecube
- Instagram: https://www.instagram.com/stakecube/
- SCPScan: https://scpscan.net/
- SCC Explorer: http://184.108.40.206/