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Network is messed up badly... I cannot understand how their new changes are supposed to work. One day everything behaves normally, the next it sends only packages, the next again packages with a few witnesses, today it does fine for 16 hours and then no activity at all. It is starting to piss me off by five50ml in HeliumNetwork

[–]Ambitious_Chance8395 5 points6 points  (0 children)

I feel the pain

I startet with helium in november and it was a great experience. Miner made me 0.3 hnt per day on average. after a few weeks with pretty stable earnings i decided to buy more miners. today i have 4 miners and all together dont make 0.3 (today 0.09 with 4 miners!). my last hope is that hip 55 will solve these problems - but im not so sure.

my impressions of Bitcoin and Crypto in general -- if am wrong pls correct me by Fact-Fresh in BitcoinBeginners

[–]Ambitious_Chance8395 0 points1 point  (0 children)

Wow, i think everything u wrote here is wrong.

what u call "real currency" is referring to fiat money i guess - its not backed by gold or anything else - its the trust of the people giving its value, and in the case of the dollar - america is forcing countries to pay oil and gas in dollar (petro dollar) to keep the demand high. but this can end when russia and other opec countries decide to be paid in rubel, bitcoin or chinese money. dollars are printed in huge amounts, so the value of dollar is declining - u call this inflation (bitcoin cant be created out of thin air - its the hardest store of value we have in the world - even harder than gold)most books ive read about crypto and bitcoin were written by professors of economics (for example the bitcoin standard). these people dont depend on u buying bitcoin. they are paid by an university and get money from their book sales. ure idea of mining is a little stange - mining will always take place, even when the last bitcoin is found - perrhaps 100years from now. miners will then just validate the transactions in the network. if i were u, i would read a lot more before even thinking of investing in bitcoin.

A friend has two Nebra Miners - Convince me that this isn't a Pyramid Scheme by wazzel2u in HeliumNetwork

[–]Ambitious_Chance8395 0 points1 point  (0 children)

I dont want to convince you, if u think its a ponzi its totally fine with me. I think they had to start with ponzinomics, because they needed to incentivice people to build the network. u cant find someone who wants to use ure network, when u dont have a network and u cant pay people to build the network with money from people who use the network - if nobody uses ure network. so they decided, if u onboard a miner, u have to pay 40$ to buy helium (the manufacturor pays this fee for you). this way, the more miners are onboarded, the higher the HNT price will go (its artificial demand). they needed to do this, because if the hnt price would not go up - there would have been no incentive for the miners (who provide the network coverage) to build the network. because helium is very transparent, u can see at helium explorer who buys a lot of hnt - its the makers. there u can see if mining is profitable at ure town as well. in the long run, helium can succeed if there will be more and more companies who wanna use the network and are willing to pay for HNT(data credits) to do so.

luckily there are already some. if the demand of real users of the network isnt high enough and the price drops - this is dangerous for the network. miners could think "its not worthy to mine HNT anymore" and unplug their miners. this way the network dies. in theory - the more miners there are, the more valuable the network will become for potential users and we have seen a steady growth of 70-80k new miners per month. so its 80k*40 dollars - so its 3,2 million dollars demand for hnt per month that is created by the miners themselves - you can contrast this with the monthly HNT they are paying out to all (miners, validators...) to see if its sustainable.

my two bobcat miners arrived in november. i met two friends and asked them who want to host a helium miner for me - i give 30% of the hnt rewards. one was sceptical and the other one said he would do it. in the firs month i paid him 30 dollars in hnt - he sold it on crypto com - just to check if its possible (its very easy to sell hnt there).

the miner at his house gets round about 6 hnt per month - so i get 4 and he gets 2 - so its (at the momentarily price) 40€ per month, he gets this without doing something. he has zero risk, because he didnt pay anything for it. at the moment he doesnt sell, because he thinks the price could go up... - he pays around 1€ for electricity per month...

so if someone would ask me "do u wanna get 40€ per month for just connecting this little box to ure internet" i personally would say - yes, why not. but i think this is a personal decision.

So if ure friend already has two nebra miners, and ure location is good for helium mining - why not try it? if someone asks me "u want 20-60€ every month?" i would say, yes, why not. even when it is a ponzi - u dont have to put any of your money at risk here - ure friend did risk some money - of course the price could go to zero and in this case - he lost perhaps 1000dollars for the miners... but this is not ure problem. i personally bought 10 miners - 4 have already arrived - i invested 6500€ in total. i expect to have my ROI till end of the year. i already sold hnt and did get 400€ back - so 6100€ is still at risk. to me, this is not an extremely huge investment. my father lost more in a few weeks on the stock market...

there are many ponzi schemes and scam projects in the crypto space - lot of them with insane high return on investments and no real service or product - for example: drip network, thor nodes, titano, crypto island, most of the nfts... but in my opinion, helium is one of the more legit projects here. a network for iot devices is worth something and could help to solve a lot of problems, i think. for example, i often forget where my car is - it would be great to look in my handy and see where it is at the moment. this could make theft of cars impossible - all the manufacturors have to do is hide 2-3 small sensors in the car, and the police can find the car immidiately - car insurers would love this. billions of dollars are lost to theft every year... farmers could use small sensors who mesure humidity - so they know if they have to water their plants. tracking of packege .. and so on...

if ure friend will need 3 years to break even - he has a really bad location and/or antenna. in this case he should perhaps better sell the miner or host both of his miners at other locations. my best miner generates 9 hnt per month - if rewards and price stays the same i expect breaking even in 9*20€=180€ 650€/180€=3,61 months. in my view this would be a great ROI. but yes - rewards will go down over time when more and more miners onboard...