Why I am GPU mining $Flux in a Bear Crypto Market

Photo via Runonflux.io

Flux: A Web3 Hosting Platform/Decentralized Blockchain That Combines Proof-of-Stake and Proof-of-Work

In the world of cryptocurrency, mining is a process by which transactions are validated and added to the public ledger, known as the blockchain. One of the most popular cryptocurrencies to mine is Ethereum (ETH), which uses a proof-of-stake consensus algorithm. This means that users can earn rewards by holding a certain amount of ETH and participating in the validation process.

However, proof-of-stake algorithms have their own set of challenges, including the need for a large amount of capital to participate and the risk of centralization. This has led some miners to look for alternative ways to earn rewards, such as by mining other cryptocurrencies or participating in hybrid consensus algorithms that combine proof-of-stake and proof-of-work.

One such alternative is Flux, a Web3 hosting platform that uses a hybrid consensus algorithm that combines proof-of-stake and proof-of-work. This allows users to earn rewards by holding a certain amount of the Flux cryptocurrency and participating in the validation process, as well as by contributing computational power to the network.

Flux has several advantages over traditional proof-of-work mining. For one, it is more energy-efficient, as it does not require the same level of computational power. This makes it an attractive option for individuals and organizations looking to reduce their carbon footprint.

In addition, Flux offers a range of hosting services, including hosting for decentralized applications (dApps), web hosting, and domain registration. This makes it a top choice for Web3 developers and businesses looking to build and host their applications on the blockchain.

Participating in the Flux platform offers a unique combination of proof-of-stake and proof-of-work, which allows users to earn rewards in a more energy-efficient and user-friendly way.

As a decentralized platform, Flux is not subject to the same censorship risks as centralized platforms. This was recently demonstrated when the Twitter Files led to the censorship of several accounts, including those belonging to high-profile individuals and organizations. If this were performed on Flux censorship would not have been an issue.

Tradeability

One of the key benefits of Flux is its tradeability on major exchanges. This allows users to easily buy and sell Flux on platforms such as Binance, Coinex, and Kraken, among others. This liquidity makes it easier for users to manage their investments and take advantage of market movements.

Parallel Mining

Flux provides additional assets of up to almost 56% of the block reward to all of its miners whether it is proof of work or through proof of stake. To date there are seven parallel assets among all the major blockchains. The Flux Foundation does this so developers can focus on building amongst all of the blockchains and not necessarily focusing on one.

Why I am Bullish on Flux

Flux: Onboarding Web2 Users into Web3 through Decentralized WordPress Hosting

As the use of blockchain technology continues to grow, the divide between traditional Web2 systems and decentralized Web3 systems is becoming more evident. While Web2 systems rely on centralized servers and authorities, Web3 systems are decentralized and use blockchain technology to secure and validate transactions.

One major challenge in the adoption of Web3 systems is the difficulty in onboarding users who are familiar with traditional Web2 systems. This can be especially true for businesses and individuals who are used to using popular platforms such as WordPress for their websites and online presence.

Flux is a decentralized Web3 hosting platform that is aiming to bridge this gap by offering a range of hosting services for decentralized applications (dApps) and WordPress websites. This allows businesses and individuals to easily migrate their online presence to the Web3 world, while still maintaining the familiarity of the WordPress platform.

One major feature of Flux is the ability to pay for hosting services with either fiat currency or Flux, the platform’s native cryptocurrency. This allows users to choose the payment method that best suits their needs and preferences.

In addition to hosting services, Flux also offers domain registration, making it easy for users to establish their online presence on the Web3 world. This is especially important for businesses, as it allows them to maintain a professional image and establish credibility with their customers.

Overall, Flux is a unique and innovative platform that is helping to onboard Web2 users into the Web3 world through its decentralized hosting of WordPress websites. By offering a range of hosting services and the ability to pay with either fiat currency or Flux, it is making it easier for businesses and individuals to migrate to the Web3 world and take advantage of its many benefits.

Storage Nodes (Competition Between Microsoft and Google)

Microsoft OneDrive and Google Drive have become popular choices for storing and accessing documents, photos, and other files from any device with an internet connection.

However, these centralized storage platforms have their own set of limitations and risks. One major concern is the issue of data privacy and security. While both OneDrive and Google Drive offer various levels of encryption, there is still the risk of data breaches and unauthorized access to user files.

Flux is a decentralized Web3 hosting platform that is aiming to address these concerns by offering a range of storage solutions that are powered by blockchain technology. One major development is the addition of storage nodes to the Flux network, which allows users to store and access their files in a secure and decentralized manner.

One major advantage of using Flux for storage is the added layer of security provided by blockchain technology. With decentralized storage, there is no single point of failure, meaning that data is more secure and less vulnerable to attacks. In addition, Flux uses advanced encryption techniques to ensure that user data is protected at all times.

Another advantage of Flux is its scalability. As the network grows, the amount of storage available to users also increases, allowing them to store an unlimited amount of data. This is in contrast to centralized storage platforms, which often have strict limits on the amount of data that can be stored.

Price Analysis Per Coin

As an investor, one of the things that always catches my attention is the potential for growth in a given project. When it comes to Flux, a decentralized Web3 hosting platform that combines proof-of-stake and proof-of-work in a hybrid consensus algorithm, I am particularly bullish due to its low price per coin and the potential for significant growth.

At the time of writing, the price of Flux is hovering around $0.40 per coin. While this may seem low compared to some other cryptocurrencies, it represents a significant opportunity for investors to get in on the ground floor and potentially see significant returns as the price grows.

One factor that could drive the price of Flux higher is the overall trend in the cryptocurrency market. As we have seen in the past, the value of Bitcoin and Ethereum often has a ripple effect on other cryptocurrencies. If the price of Bitcoin and Ethereum trend upwards, it is likely that Flux will see a corresponding increase in value.

BTC-USD

BTC-USD (Data via CoinMarketCap)

FLUX-USD

FLUX-USD (Data via CoinMarketCap)

As you can see from the chart’s major cryptocurrencies such as Bitcoin and Ethereum are the market movers, such as Apple and Google are in the stock market. The current trend is downward closer to $10K per coin for Bitcoin and about $750 per coin for ETH. Right now, there are recession fears, but I am in it for the long term in which in 2025 there should be no remarks left over from the COVID-19 Pandemic and the Federal Reserve will have lowered interest rates. The next cryptocurrency bull market will begin in which cryptocurrencies like Flux who are continuously building in a bear market as shown above will 10X in value.

As above shows (July 25th 2021- Time of article written), Flux is performing better than Bitcoin. Flux is stabilizing in a bear market which is always a good sign for growth potential. I’m targeting a price of around $6 per coin in 2025.

Myself and Mining

I’m currently mining Flux with 15 K/Sol. Trying to stack and accumulate 12,500 Flux to establish and run multiple nodes. I’ll have more updates to come when I reach that level. I’m about break-even with my electricity rate and my GPU’s so this is all spec mining.

Overall, the Flux Foundation is a foundation that any miner or cryptocurrency investor should want to take a look at before the market takes off in 2025.

You can check out my Twitter @BLakee1410

All of the information in the article is my personal view or expressed on Runonflux.io

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