ScryptCube: "Reinvest or Paying with Balance" Guide
Today I will try to write a detailed article about what ScryptCube reinvest is, how and when to use it.
We will compare which is more profitable - to reinvest or not, as well as compare reinvest and purchase from the balance.
Some of the information will be provided by the Scryptcube article and marked with italic font, and some will be my own.
How does it work?
If you would like to purchase additional Mining Plans automatically using the balance accrued on your account by other active Mining Plans, you can activate the Reinvest feature.
When activated, "Reinvest" will automatically use all available balance every day after the accruals are received to purchase the maximum possible amount of Hash rate of the selected Mining Plan type.
Reinvest can be activated for any Mining Plan type that is currently available for purchase. Reinvest will purchase a new Mining Plan, not increase the Hash rate of an existing one.
How do I enable Reinvest? Step 1. Select the Reinvest next to the Assets on your Account Dashboard. Step 2. Choose the Mining Plan type that you would like to reinvest in and hit Confirm. Step 3. When the Reinvest feature is active, you will see a green light next to "Reinvest" and an icon next to the Mining Plan type chosen. NB! Please keep in mind, that the Reinvest feature will spend all available balance on purchasing additional Mining Plans and will not turn off automatically. In order to disable Reinvest, simply select "Turn OFF" during Step 2.
What does it mean?
This means that every day the Scryptcube will scan your balance and buy the maximum amount of hashrate with the money available at the beginning of the day.
Let's say I activated the Reinvest button. Here's my balance today:
We can assume that tomorrow I will have 93204 + 14000 (approximately) Satoshi, round up to 107000 Satoshi.
What will happen? The balance will be written off and a new mining contract will be added. I will choose 1 year, because according to the latest analysis of the profitability of the Scryptcube of contracts, it is better than 2 years.
How much will the new contract be?
Most likely, I don’t have enough money for 1100 GHs, because I need 109,000 Satoshi, but for 1000 GHs, I’ll have enough and will have about 7,000 Satoshi on my balance.
Thus, I will receive a new contract for my balance at the current price. It will have its own duration of 365 days. And so it will be with every reinvestment contract. It turns out that reinvest is no different from a regular purchase from the balance? Right!
Reinvest is no different from the usual payment from the balance. It's just automatic and will happen on its own every day.
But there is one trick.
When you manually buy contacts, paying for them from the balance, you can use promotional codes for the purchase.
At the moment, my CLOUDINFO promo code has expired by the usage limit (thank you, my readers) and I am expecting a new code to be given. You can see the current discount codes on our website on the ScryptCube Promo codes page. At the moment, CHRISTMASCUBE5 is working and with the help of it we are saving 697 satoshi compared to Reinvest.
I just don't want a huge amount of contracts on my account. Imagine that every day your account will buy 100 GHs. After 100 days, you will have 100 new contracts that will end on different days.
Let's imagine that today you buy 14.4 TH/s for $700, so that every day you get 10,000 satoshi, now this is enough to buy 100 GH/s every day.
It turns out that we increase our power by 1/144 or 0.7% per day.
For example, the cost for 1 THs will remain unchanged next 35 days, which is unlikely. I think we will soon grow. Let's imagine that we are going to reinvest our contract for 35 days. Until the next change in difficulty we have about 8 days. And within 35 there will be 2 more changes. Then - we turn reinvest off and do a comparison.
Hashpower result: 17.8 TH/s
Remaining days of the main contract: 330 days.
We spent on Reinvest: 0.003472 BTC
Balance: 0.00011303 BTC
By the way, I considered all the calculations based on a pessimistic scenario. I always think so, so as not to be disappointed in my calculations later.
So, after 330 days at a power of 17.8 TH/s, we get 0.02376841 BTC. There was already 0.00011303 BTC on the balance, then the total amount will be 0.02388144 BTC
And over the next 35 days, we will gradually lose the contracts that we reinvested.
Total refund - 0.02401934 BTC instead of 0.02208980. Difference - 192.954 satoshi or 8.7% more profit.
An important thing to remember is withdrawal problems. As soon as your main contract ends and only small reinvestments remain, you will not receive so much satoshi every day on your balance to withdraw the remaining amount. You will need to wait for the day when the last reinvestment finishes its duration and only then put the entire amount on the transfer.
So why is Reinvest profitable?
You must understand:
As soon as you have received your Satoshi on your Scryptcube account balance, they are already yours. They become an investment tool.
I have said many times - if you have bitcoin on your wallet, you can make it work, because at the current price of Scryptcube contracts for a year, even taking into account the pessimistic scenario of changing the difficulty of the bitcoin network, you will make a profit.
But what if you don't have bitcoin yet and it is just starting to accumulate on your Scryptcube account?
Theese satoshis could work too!
But please ... do not automatically reinvest... It is better to create a purchase and then pay it from balance to use a ScryptCube promo codes for discount - this will be more profitable and you will feel in control of the situation.
I wish you the right decisions and profitable investments!