Helium News: Short introduction to Helium Network

As you probably (don't) know, some time ago I joined the Helium network. My fleet consists of exactly one Bobcat miner located rather badly on the outskirts of Belgrade, where I live. I know, I know, but hey - you got to start somewhere 😂

From time to time, I will look back at the news about the Helium network and the Bobcat miners. Also, I will inform you about health of the network, stat of miners fleet in Serbia and everything else what may be interesting about this network.

At the very beginning - this is not a paid advertisement, I am not part of the referral program and I have no direct benefits if you join the Helium network.

Indirectly - each new user increases the quality of the network by their very presence, so you are more than welcome.

_{Image source: https://cryptopumpnews.com/bitcoin-news/helium-hotspot-miner-mining-with-helium-bar/}

What the heck is Helium network?!?

A short history for those who do not know what a Helium network is. Firstly, I don't think helium is a Ponzi scheme although there are many such opinions.
Feel free to write what do you think about it. I may have overlooked some information that is relevant.

The helium network has a use value. Whether it will succeed - depends on the company, luck and many other factors. It can fail, like everything else in the crypto world. In this business guarantees are meaningless.

_{Image source: http://www.helium.com}

Shortest possible explanation

The idea is that many devices today require the Internet. Not mobile phones and computers, but devices such as refrigerators, air conditioners, coffee makers, smart lights. This is called the Internet-of-Things. The idea is for Helium to offer an internet connection for these devices at lower prices and higher reliability. Other frequencies are used, the range is slightly higher, the reliability of the network is at a higher level. Only certified devices can use these connections.

_{Image source: http://www.helium.com}

Connections are provided by routers, which in this case are also miners. The miners are privately owned. In principle, these are specialized Pi Raspberry devices that only require an internet connection. They consume about 5w of energy and provide a connection for the surrounding devices. The owner was rewarded for hosting the hub with cryptocurrency Helium. Everything here seems clean. White and blue papers are among the better and clearer ones I have read. You can find them at https://www.helium.com/

However, for the network to come to life, users need to be motivated to host it. This is where we come to the current phase in which users are motivated to create a network of miners. Almost all the earnings currently come from the fact that the network confirms its existence and on that basis mines the HNT coin and distributes it to the miners.

That is why it is necessary that there are at least two other miners in the immediate vicinity. The communication between the two devices will be verified by a third device and everyone will be rewarded for that with a certain amount of helium currency.

_{Image source: http://www.helium.com}

Another way to make money is to exchange information through a hosted hub. This is growing minute by minute, as the number of air conditioners, refrigerators, irons and other smart devices growing exponentially. There are more and more of them because increasing the availability of the network also increases its demand. A few years ago, I thought that remote control of lights in the house was the biggest nonsense we could invent as a human race. Now I control all the lights via one remote device. Honestly, for some switches I'm not even sure where they are.

_{Image source: http://www.helium.com}

Over time, the share of earnings obtained by mining decreases in relation to the earnings generated by the flow. The first halving happened a month ago. Helium has signed a contract in the USA to use the network for 5G signal transmission. They will develop new devices for that.

_{Image source: http://www.helium.com}

A few pieces of information that will probably interest you. Price of the router was 490 EUR. It is paid in cryptocurrency, delivered in 6 weeks. To this you should add 180 EUR custom duty, because I really, really love my country... damn commies... 😂

For a month of work, the miner earns about 7 HNT, which at the current exchange rate is about 125 EUR. For me, the ROI is around 5.5 months. For now, although that may improve. I was among the first to join the network and the number of miners near me is constantly growing.

_{Image source: https://app.hotspotty.net/hotspots}