Crypto Update 4/7/2022: Crypto.com Nerf, FLUX in Flux, Mining Bitcoin and Bitcoin Loans, FIRO Node

Crypto.com Nerfed Rewards

I was willing to lock up funds for 3 months to earn superior interest. Now The rewards offered on BTC and stablecoins are no more competitive than interest platforms elsewhere. For 6.5% and 12.% APY I'll lock up some funds. At the levels pictured, why would I want to lock up funds for 3 months when I can get the same or better rates on another platform? On top of that, I have a middle tier account so these are higher rates. If you have an entry level account the rates are absolute garbage compared to other platforms. I guess they have to pay for their arenas and superbowl ads somehow. In any case, I am abandoning the laddering I was previously doing, and only locking up coins I can't earn yield on elsewhere. This is the constant stick-and-move that is crypto allocation.

FLUX In Flux

So I noticed both of my FLUX nodes were down. I spent a few hours trying to troubleshoot it to no avail. It turns out that the node system was completely reworked. The first tier was dropped from 10k FLUX to 1K FLUX, and the middle tier was dropped from 25k FLUX to 12.5K FLUX. This is what happens when you don't pay attention to projects you participate in. Out of this, I decided to consolidate into a single middle tier node, which left me over 7.5k FLUX to sell for a nice profit. So now I run a NIMBUS node, which pays about $20 per block reward. I had to upgrade my VPS to a bare metal server in order to satisfy the benchmarks. It's been up about 72 hours, and so far I've earned one block reward. My bare metal server has quite a bit more capacity for running more nodes.

So what did I sell my $10,000 worth of FLUX for?

...

Mining Bitcoin

So thanks to my speculative mining of FLUX, I am now contributing 88TH to the Bitcoin blockchain. FLUX became USDC, and USDC paid Compass Mining. The Whatsminer M30 was right within my budget for the FLUX sale and will generate about $10-13/day in Bitcoin at current prices (not that I'd sell it or anything). Hopefully I'll be able to add some more miners as time progresses. I'm just getting started, but sooner or later I'll make a dedicated post about my experience.

0% Bitcoin Loans

I discovered that Abra provides 0% APR loans with a 15% LTV. That means, if you lock up 10k in Bitcoin, you can borrow 1.5K in USDC interest free. You can then turn around and buy another 1.5K worth of Bitcoin, which you can withdraw or earn some yield on. The loan has no payments, and simply becomes due after 24 months. If you are interested in signing up for Abra, referral link below:
https://www.abra.com/ref/?deep_link_sub1=RCY2MNBFL

FIRO Node Fired Up!

After continuously getting my node banned from the FIRO network, I migrated it to the same bare metal server my FLUX node is running on. It has been up and stable for about a week. I'm convinced the VPS server I was using was very oversubscribed in terms of disk I/O, which made my nodes too laggy. A gentle reminder that no matter how many cores and how much memory you pile into a VPS, disk I/O will always be the bottleneck if your VPS provider is using a subpar solution for storage.

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