General > General Technical Chat

Please clue me in about Helium Mining

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DC1MC:
Is it a scam to sell the equipment, does it actually work, experiences in Germany ( I see a lot of devices available on Kleinanzeigen), what about it ?

Cheers,
DC1MC

aseok:
Hi
Beside of intentions behind the idea or whether it be a scam or not, According to a claim in reddit, registering a non commercial device to network should be provided a year ago. but it hasn't happen yet.

NiHaoMike:
It's "mined" by hosting a wireless network. It's a little like "Fon" from a long time ago. While the idea is great, the organization behind it has gotten too greedy making it hard to profit.

What we need is something similar that's decentralized, in other words cut out the (greedy) middleman.

ataradov:
It is a scam, of course. They were moderately successful wireless provider, but before that they had to pay people to install their hardware. Afer jumping on that crypto bandwagon and strategically providing fake potential income numbers, they can't produce equipment fast enough to sell to suckers.

This is a perfect example where "crypto" is not needed. What they have is a plain old loyalty program. You can earn points by hosting the network and passing the data, you spend points by sending your own data. But loyalty programs is 70s, it is not Web 3.0, so hard to make gullible idiots interested in it. LOL.

Also, potential earnings they advertise are all in heavily trafficked areas. If you live in the middle  of nowhere, your best way to profit from it is to sell the equipment to the next sucker.

Gyro:
Damn, I was just going to go off on a rant about Helium being a finite mined resource, being increasingly vital for MRIs etc. and people still wasting it on party balloons.  :D

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