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ScryptCube: my opinion about their Contract Prices and why I bought 14 TH/s more

Today we will talk about the pricing of the Scryptcube cloud mining service. Few people know now that the price of $ 4.9 per 100 GHs was not always, but earlier the prices were different. By understanding our past, we can predict our future.


Start of mining in October 2020

Scryptcube was indeed founded in 2016 as a company and the records in the UK government register are proof of this.

But it was the activity on the sale of mining contracts that they began, in my opinion, only in October 2020. Confirmation of this, in my opinion, is the history of transactions from f2pool.

The first transaction from f2pool with a mining reward in their network was received on October 5, 2020 to the address bc1qtyx3zqfnc4w6fwda9lpvsxzl7pgqtlkc37v0lk and amounted to 1.108 BTC. Since then, ScryptCube has already received 39.608 bitcoin mining rewards as part of the f2pool.

You can also read this investigation proving the actual mining of the Scryptcube for more details.


Webarchive

The Scryptcube Webarchive also confirms my guesses. The first "snapshot" of the site was taken on October 29, 2020, and so we can see what prices were at that moment at the start, what was the difficulty of the network and what was the price of bitcoin.

scryptcube prices in the past
October 29, 2020

On this date, the price of bitcoin was $ 13,250, you can find this information in the charts yourself. And the difficulty of the network on October 17 was 19 997 335 994 446, which brought about 700 satoshi per day for 1TH/s, because the level of commissions on the network was less than now. Therefore, we can remove the difficulty of the network from our calculations and consider only the bitcoin price and the price of the mining contract.


Today, February 24, the profitability of mining contracts is 712 satoshi per 1 TH/s at a price of $ 49,800 per bitcoin and a price of contract $ 49 per 1 TH/s

scryptcube analysis

Let's plug in the figures for October 29th and see what our statistics would look like.

scryptcube analysis

As you can see, the profitability indicators are much lower, even taking into account the reduced cost of contracts. Now we will find a snapshot of the site that was BEFORE the price increase from 19 to 49 TH/s.


November 25, 2020

Unfortunately, almost all of the site snapshots are broken and do not load, but on November 25 it was still possible to see the price of $ 19 for 1 TH/s

scryptcube analysis history

Bitcoin price was already $ 19,000 that day. Let's take a look at the return rates for that price.

scryptcube review

Hurrah! What I wanted to find! Compare screenshots of profitability today, February 24, 2021 at $ 49 per TH/s and November 25, 2020 at $19! They are identical!


December 29, 2020 - price change

I was still able to find the moment when the prices were changed. It happened on December 29th. Here is a screenshot from the telegram news channel.

scryptcube telegram

Let's insert the data for December 28th into our calculations. Bitcoin price - $27100.

scryptcube review

OMG! Wow profitability!

Realizing that they are losing a lot of money with such cheap contract prices, they raise prices to $ 49 and we get this values of contract profitability.
scryptcube review

Now everything is normal, the price from the point of view of the economy of the cloud mining service is more than fair.

But since that moment, bitcoin has almost doubled and then I can draw my conclusion.

My prediction of a rise in the price of contracts

Let's select now such a price for a contract so that the level of profitability is the same as after the price change on December 29.

scryptcube price prediction

In my opinion, at this price of bitcoin, the next price level for 1 year will be between $75 and $85. It is this price level that will allow the owners of the service to sell contracts efficiently.


My conclusion

ScryptCube Cloud mining is not a charity. Everyone wants to make money - both users and owners of the service.

As soon as the level of profitability for users becomes too high, the owners of the service raise the prices for contracts.

Now we are at the point when the price of contracts can rise at any moment, and that is why yesterday, February 23rd, I bought 14 TH/s at current prices. Now, in total, my power is 20 TH/s.

scryptcube big contract
scryptcube profit

Whether or not to buy additional hashpower at current prices is your choice. And I just wish you the right decisions and profitable investments!


Recent Scryptcube accruals

Review and investigation with evidence of Scryptcube mining

Buying bitcoin or cloud mining contracts - which is more profitable?

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