[noureddinemerradou]

Below is a thread by Liron, and also a video by shitcoin Detective on youtube which go into the Helium network and its token and why  it is a ponzi .

What is Helium network ?


Helium is a blockchain network that leverages a decentralized global network of Hotspots — devices that double as network miners and wireless access points — initially to provide long-range connectivity to Internet of Things (IoT) devices, and long-term to connect anything to the internet via a decentralized wireless network such as 5G. Hotspots can be deployed by anyone and enable individuals to earn Helium’s native HNT coins in exchange for providing devices with connectivity. This decentralized, blockchain-based approach allows wireless infrastructure to scale more rapidly and at a fraction of the cost of traditional models.
how do the miners work

TLDR :


- The 500$ miners are a rip off, their real cost is 100$

- 0.00005 $ is a fair  value for the token, current prices are not sustainable or economically viable .


what are LoRaWAN miners ?


A miner is a LoRaWAN based device .
( The LoRaWAN protocol is a Low Power Wide Area Networking (LPWAN) communication protocol that functions on LoRa. The LoRaWAN specification is open so anyone can set up and operate a LoRa network. LoRa is a wireless audio frequency technology that operates in a license-free radio frequency spectrum.)
miners provide coverage to the LoRa nodes in their range. They support the device by connecting them to the Application Server and in return to that, the network rewards the miner with Helium's native cryptocurrency i.e. Helium Network Tokens also known as HNT



I personally think these topics will change the VC landscape, the @a16z fund is losing credibility, and in the future crypto funds  either get their shit together or lose relevancy and no body will buy their investment thesis anymore,  retail will disregard the VC narrative and no longer treat it as positive

head of @Sequoia's $500M crypto fund's comment


click here for a thread from an experienced telecom architect's opinion on the network's disastrous architecture



what are your Thoughts ???

[SIM-3323508]

People still say Bitcoin is a ponzi because it relies on s&d. All of the mining companies are in it for profit why would you expect them to sell at cost?

[SIM-3323508]

Bitcoin miners gain 100% of their income from "d".  Not even 1% of the income from Helium is "d":

https://twitter.com/liron/status/1551738603491008512

All I see is redditors are mad because helium is down 80% and now complaining about miner earnings.

[SUI-3183372]

There was a very detailed video I watched on Helium a bit over a year ago that's stuck with me ever since:




He gives a very nice break down of how everything works and then concludes that it's a ponzi.

[Riggs]

I bought into this last year and got several gold MNTD miners and set them up with outdoor antennas deployed in optimised geographical areas. Probably made about 25% of my initial investment back so far. The current income they generate just about offsets the cost of the electricity required to power them, so I don't see myself making any ROI here. I'm still in profit from better calls throughout the years, but for this one I've accepted the loss and don't have much hope of recovering my initial investment.

I'm not sure if I agree with the sentiment that it's a ponzi scheme, as I did my prior research and the risks were clear when I started. I accepted that getting involved could amount to a potential loss. However, I do think I was naive in my judgement and definitely overvalued the proposed profitability of the wider Helium network in the current economic climate. That being said, I do still believe real practical value could be gained in the long-term from leveraging blockchain integrations with LoRa protocals due to the growing abundance of IoT devices.

[noureddinemerradou]

There was a very detailed video I watched on Helium a bit over a year ago that's stuck with me ever since:




He gives a very nice break down of how everything works and then concludes that it's a ponzi.

The ending is gold, love this guy

[Kaoru Hanayama]

This was the most obvious and well designed ponzi so far.

[Truth]

I wouldn't promote a ponzi, but im all for buying into bubbles/ponzis and selling to another sucker before it pops.

Just got to admit its a gamble ;)

Free market

[chitbox]

I wonder how our president would feel if he was invested into this and found out. Only a dream of mine though. I have $14 in this coin. .08% of my life savings rely on crypto

[nelz]

Lol fuxk, brought a Miner etc and been meaning to set it up. Just been lazy and haven't gotten around to it. I was aware that earnings are shit right now but figured that would correct itself once the market finally pump again. I actually did lots of research on this too and thought it was legit. Just great. Guess I can sell off my gear and make a bit of my money back lmao.

[Luminox]

Lol fuxk, brought a Miner etc and been meaning to set it up.  Just been lazy and haven't gotten around to it. I was aware that earnings are shit right now but figured that would correct itself once the market finally pump again. I actually did lots of research on this too and thought it was legit. Just great. Guess I can sell off my gear and make a bit of my money back lmao.

Helium is legit and a great idea, but a non-viable one lol it would probably still be profitable if big boys didn't take it all. Try to sell that shit asap, some dumbass were buying it at like 1.5-2k couple months back. Doubt it still sells at that but lol good luck.

[noureddinemerradou]

Lol fuxk, brought a Miner etc and been meaning to set it up.  Just been lazy and haven't gotten around to it. I was aware that earnings are shit right now but figured that would correct itself once the market finally pump again. I actually did lots of research on this too and thought it was legit. Just great. Guess I can sell off my gear and make a bit of my money back lmao.

I found this quoted tweet from the founder, he is applauding this silly trick to convert a LoRaWAN rak miner into a 5G hotspot, using the Indoor Baicells Neutrino 430 which will set you back a $1500, that's really laughable, the move seems to be for 5G, LoRaWAN is no longer the focus

The funny thing is, I can't' believe the Neutrino is advertised as a 5G hotspot it's 3GPP LTE, when corrected by a commenter in the replies :

https://twitter.com/gvillarini/status/15...KLaQJaZUYA

he deviated the question and put a link to an upcoming all in one 5G miner from MNTD which will cost around $2500, these guys are some illiterate scammers, I tell you that

---

I bought into this last year and got several gold MNTD miners and set them up with outdoor antennas deployed in optimised geographical areas. Probably made about 25% of my initial investment back so far. The current income they generate just about offsets the cost of the electricity required to power them, so I don't see myself making any ROI here. I'm still in profit from better calls throughout the years, but for this one I've accepted the loss and don't have much hope of recovering my initial investment.

I'm not sure if I agree with the sentiment that it's a ponzi scheme, as I did my prior research and the risks were clear when I started. I accepted that getting involved could amount to a potential loss. However, I do think I was naive in my judgement and definitely overvalued the proposed profitability of the wider Helium network in the current economic climate. That being said, I do still believe real practical value could be gained in the long-term from leveraging blockchain integrations with LoRa protocals due to the growing abundance of IoT devices.

if IoT devices are to be more abundant in the future hence LoRa wireless platforms are to be mass adopted, why is Helium moving towards 4G and 5G bands, and others ? I want to understand

[SUI-3183372]

I found this quoted tweet from the founder, he is applauding this silly trick to convert a LoRaWAN  rak miner into a 5G hotspot, using the Indoor Baicells Neutrino 430 which will set you back a $1500, that's really laughable, the move seems to be for 5G, LoRaWAN is no longer the focus

Smart. A ponzi can not survive without a steady stream of incoming funds. This stream had massively dried up for Helium, with rewards being absolute garbage, miners being pricey, and turn around to even receiving your product taking months, Helium knows that their pool of potential new victims has dried up almost entirely and that their best bet would be to re-exploit their original victims. Knowing that they have a pool of gullible and willing participants, double dipping on them is certainly easier than scamming new money.

The funny thing is, I can't' believe the Neutrino is advertised as a 5G hotspot it's 3GPP LTE, when corrected by a commenter in the replies :

https://twitter.com/gvillarini/status/15...KLaQJaZUYA

he deviated the question and put a link to an upcoming all in one 5G miner from MNTD which will cost around $2500, these guys are some illiterate scammers, I tell you that

---

if IoT devices are to be more abundant in the future hence LoRa wireless platforms are to be mass adopted, why is Helium moving towards 4G and 5G bands, and others ? I want to understand

You won't understand because it makes no sense. Helium isn't targeting those who understand with these messages, in fact you're a problem to Helium poking holes in their new scheme to set up another stream of income. Helium is targeting those who don't understand so they can continue the Ponzi.

[Porn]

I saw a reddit thread recently where people were organizing a meet up at burning man and bringing their helium miners (bobcat 300) etc to burn them.

[noureddinemerradou]

I saw a reddit thread recently where people were organizing a meet up at burning man and bringing their helium miners (bobcat 300) etc to burn them.

what will burning their money change ?
spreading awareness about the Helium Ponzi and not buying into their next gimmicks is a more effective way to protest imo