Mineiac Mineable FAQ

Common Questions

Who is behind Mineable?

Mineable is a trademark of Mineiac Ltd – full details of which can be seen in our Privacy Policy. The Mineiac Team were formed from a dedicated group of people and original community members and investors to secure the future of the Mineable Project and bring this into the future, while securing the best interests of our community as a whole.

What is the purpose of the Mineable / Mineiac app?

The Mineable / Mineiac app enables users to access the platform’s crypto mining features. Through the app, users can create a wallet, purchase virtual GPUs, monitor mining rewards, refer friends, and manage their mining operations.

How do I back up my Mineiac wallet?

When you first create your wallet, the app generates a 12-word secret recovery phrase. You need to securely save this phrase by writing it down or saving it in a password manager. It can restore access if you ever lose your password.

What can MNB tokens be used for?

MNB is the native token of the Mineiac ecosystem. It has various use cases – purchasing virtual GPUs, conducting upgrades and repairs, overclocking hashrates, facilitating transactions in the peer-to-peer marketplace, and redeeming for profit.

What mining rewards do referrals receive?

When you refer a user who purchases virtual GPUs, you receive 25% of that user’s mining revenue on an ongoing basis. There is no limit to how many users you can refer.

Why does Mineiac cap the supply of MNB?

Capping the maximum MNB supply at 1.5 billion coins creates scarcity, which helps drive value for the token. As more coins become locked up in network activity over time, it can incentivize holding.

How does Mineiac ensure equal opportunity for miners?

Mineiac’s staged economy model means that increased network hashrate and additional miners do not reduce individual rewards. More miners progress the economy, increasing yields for everyone.

How are mining rewards calculated?

Mining rewards are determined based on the ratio of your GPU’s hashrate versus the total network hashrate. For example, if you have 100MH out of 1000MH total, you would receive 10% of each block reward.

What is the maximum supply of MNB?

The maximum supply of MNB is capped at 1.5 billion coins, with 1.25 billion allocated to Mineiac’s supply. This ensures scarcity and value accrual over time.

What is the purpose of token staking?

Users can stake and lock up a percentage of their mined MNB over defined periods to boost GPU hashrates via overclocking. Staking reduces the circulating supply while miners benefit from greater mining power.

What GPU attributes can be upgraded?

The two main upgradeable GPU attributes are: 1) Durability – extends the time between required repairs 2) Efficiency – reduces the percentage of mined MNB paid in power costs.

How much does a GPU upgrade cost?

Upgrade costs are calculated based on 2.5% of the dollar value paid for the GPU, divided by the current MNB price. For example, a $20 GPU would have a 20 MNB upgrade cost at $0.025 MNB price.

Passive Earnings

GPUs are continuously mining MNB passively and MNB can be swapped for other currencies using the in-app wallet. Users can buy multiple GPUs for even more earning potential.

Zero Limitations

Start mining cryptocurrency without the limitations of leasing land or mastering high voltage electrics; there’s no air quality or temperature regulation to worry about.

Zero Hardware

Users do not need costly mining rigs or a background in crypto to get started. Virtual GPUs can be bought in the Mineable platform and are active in minutes.

Weekly Auctions

With Virtual GPUS

New Auctions Every Week!

Auctions run from Thursday to Sunday (Ends 8.00pm UTC – Coordinated Universal Time )

Easy Bidding Made Fair to All

Users place a bid in the Auction Room in Discord for the GPU of Choice, at the end of the Auction the final bid winner is chosen. This method also helps stop bots from sniping, making it as fair as possible all round.

Get Your Bid in, Grab a Bargain!

Gpus range from starters to a a chunky 500MHZ Beast that can be snapped up for a fraction of the cost of the default prices – it’s totally up to you!