I'm Mining Helium! Full Breakdown, Hotspot Setup, and How Much I'm Making! - BEST HELIUM MINER

I’m Mining Helium! Full Breakdown, Hotspot Setup, and How Much I’m Making!

what’s up everybody logan alec now and i am very pleased to announce today that i have officially started quarrying cryptocurrency with this little device right here it pushes instantly into my wall and at the end of this video i’ll show you how easy it was to set this bad boy up easier than setting up a wi-fi router to be honest this has been a moderately recreation activity it’s become a delightful little river of regulate it and forget it passive income for me i’m not making a fortune doing this but it’s just another revenue stream if you know me if you know my direct you know that’s what i’m all about structure my torrents of revenue and my creeks are well so what cryptocurrency am i quarrying with this device it’s called helium hnt helium helium is issued by a company called you suspected it helium that actually has some pretty interesting things going on right now like i said i’ll talk more about the mining facet of helium and the design i’m exercising to quarry last-minute in this video helium did secure me up with that design by the way so props to them but first let’s talk a little about what helium’s mission is to spawn the world a better and more efficient place so helium summons itself the people’s structure and the helium system stands maneuvers on the iot that’s internet of things to send data without being connected to a conventional cellular network for example some of the case studies that helium highlights include gps sensors sea meters and ecological monitors that move humidity temperature breeze excellence and more so if you want to use those maneuvers with a usual cellular communication you’re going to need sim placards and those might not be cost effective depending on their usage plainly wi-fi comes with its own limits with respect to network range but in contrast to wi-fi helium uses the lorawan protocol which allows them to communicate over much larger gaps now the relinquish there is that you can’t communicate so much better data via radio radiation as you can with a wi-fi network but helium isn’t really intended for users to send vast folders or anything like that in the first place it’s more about offering wide coverage for tiny containers of data such as for gps trackers or motion sensors or breath quality observes etc it wouldn’t be practical to download movies over the helium system but it can be really effective for moving low-pitched volumes of data over large intervals you can actually buy various categories of sensors that are ready to work with the helium system they have sound detectors inhale and hot detectors grunge humidity observers body temperature sensors motion detectors you specified it you can read about some of the use cases on the helium website there will be a link to their site in the description in case any of you want to check it out but basically what happens is that users who want to send data over the helium network pay for that coverage in the form of data approvals which i will touch on later and beings with hot spot receive the helium cryptocurrency based on how much they contribute to that network so for example one case study is for a company called digital matter that creates designs to move resources like vehicles uh carrying receptacles trailers implements pallets and more instead of connecting these objects to a cellular system or a wi-fi network they leverage the helium network to keep track of asset location as well as movement and accelerometer data in other words if you use digital matter devices to monitor your resources you can use helium’s pay-as-you-go model to buy however many data credits you need for the amount of information you’re sending over the network in turn helium hotspot owneds are incentivized to provide that coverage in exchange for the mining wage so they receive that intelligence they contribute it to the blockchain and they receive the helium cryptocurrency in exchange for their contribution of course that’s a simple way to explain it i’ll go into more detail about how that process tasks later on when i talk about the hotspot itself but that should give you an idea of the interplay between users who need to send information over the network and miners like me who provide network coverage in order to receive the helium cryptocurrency and that’s why it’s called the people’s structure right there’s no comcast or atnc among the priorities of this helium coverage comes from the hot spots and is funded by the data recognitions that users expend to send data over that system as i mentioned earlier there are two sides to this network on one hand you have network customers expending data recognitions and on the other hand you have miners accumulating helium signs or hnt by contributing to the network now instead of being linked to the price of hnt the data credits are actually linked to the price of the dollar one dollar is always equivalent to that given to 100 000 data ascribes on the other hand data credits can only be produced by converting or burning hnt as helium says and data approvals are only redeemable for network used they can’t be sold with anyone else there are five million hnt being minted every month right now and that multitude will automatically be cut in half every two years starting on august 1st 2021. In other words even though you have to burn hnt to create data credits the give of hnt doesn’t really have anything to do with how many data credits are actually being used so let’s say one hmt silver is equivalent to 10 us dollars that signifies every hmt copper you have can be burnt for 1 million data recognitions in other words someone who needs 1 million data recognitions will need one hnt coin then let’s say helium additions quality now let’s say it’s worth 100 us dollars instead of 10 well now your 1 hnt will convert into 10 million data ascribes and the buyer will only need 1 10 of an h t silver to access those credits so it’s not that you now need more data approvals for the same amount of data is that you’ll need more hnt coins in order to be allowed to to burn the same number of data ascribes this is based on something called a burn and mint symmetry i don’t want to invest too much time on it for the purposes of this video but the point is that the value of hnt will motley based on demand from network customers as well as speculative ask from people who want to get in uh get into helium for the investment opportunity all right now let’s talk about how i am helping to build the helium network and being honored for doing so through coming helium cryptocurrency aka mining helium and of course i’m doing that through my helium hotspot helium hotspot was actually really easy to set up it came in a slick carton that said helium hotspot i open the box up inside i acquired the helium hotspot little setup pamphlet as well as the hotspot itself it’s rather compact setting six inches by six inches i also got a cool helium sticker and finally the stock antenna and the power cable setup is super simple you affix the antenna to the side of the hotspot i had a little helper come in my son hunter uh we checked it out together and then i was ready to plug it in the power cable is easy enough to attach and then i was ready to basically plug in the hotspot but before i did that i downloaded the helium hotspot app on my phone opened it up formed my accounting engendered my 12 statements now if you have a cryptocurrency wallet you’re probably familiar with this concept but these are basically your 12 grain messages kind of think of them like a password for indicating into your cryptocurrency wallet so you don’t want to lose these terms uh whether with the helium app or any other crypto based pocketbook that “youve had” so the app generated by 12 commands apparently i’m not going to show the 12 names on screen but i did write them down in a ensure locating after this i set a rod for my helium app certainly i’m not showing that either then i sounded set up my hotspot i adopted helium hotspot since that’s the one that i have and then the app told me where to situate my hotspot it is therefore says to give the hotspot a delightful sentiment hotspots cherish places where they can see plenty of sky so obviously second floor would be better than first floor uh the app said to have the hotspot space at least 300 meters away from other hot spots then it told me not to hide the hot spot it said hot spots shouldn’t conceal in a nightstand or a bookcase it told us to placed it next to a opening instead then it said structures may block signals and that nearby structures may decline the hot spots coverage for nearby inventions this is why some helium miners actually purchase an feeler to hook up their hotspot to give their hotspot a clear line of vision with other hot spot in the field then last-place one here the app said that hot spots hate bug screens and that you should try to keep your hot spot away from metal meshes which can block radio signals dramatically then i clicked i’ve read the leader because i had indeed read the usher the app took me to the next screen where i want you to confirm that you understand that helium will never have access to your private keys and will use secure methods to identify issues with your hotspot i sounded i understand and then i had to enable location permission for the helium hotspot app which i conceded then the app said capability up attach the antenna and plug in the added power adapter your hotspot will boot up and its light is increasingly becoming lettuce one ready so uh before i sounds i’m powered up i plainly got my hotspot all powered up first thing i had to do was figure out the right locale for it thankfully in my upstairs home office i have a shelf right next to a window with a supremacy shop right beneath that window so that’s obviously a great location for the hotspot unfortunately there was a bug screen on this opening and i remembered that the helium hotspot app is saying that hotspots detest flaw screens because they can block the signals so i removed the fault screen i accidentally broke the little tab off in the process uh but i eventually popped it out and then i was ready to go i situated my hot spot on the shelf i extended the power cord into the outlet below the window plugged it in then i was ready to go the hot spot first blinked orange which was unexpected so i pulped the black button on the side of the hot spot then the illumination was green just like the app said it would be then i hopped back into the helium hotspot app i clicked i’m powered up then “ive seen” a screen that said press the black button on your hotspot and its light-colored should turn blue-blooded so i did that then i clicked scan for my hotspot in the app the app examine for my hotspot it encountered it and then connected to it then i had to configure the wi-fi network for my hotspot to connect to that’s mostly time the wi-fi network we have here at our home so i selected our wi-fi network lay in the network password then the app said connecting to network then after the hotspot connected to the network i had to set the hotspot location to do that i had to give the helium hotspot app permission to access my phone’s locating which of course i applied then i had to set the hotspot’s location of the app and the app pretty much figured out where i was so that was really no inconvenience i moved a little map point around a little to make it more exact where my precise orientation is i’ve clearly burned out the planned here for obvious concludes then i clicked registry hotspot and then i got this screen registering hotspot and i was stuck on the screen for a while actually over an hour believe it or not that seemed strange to me that i was stuck on the screen for so long so i actually headed over to the helium discord and i asked this question hey i set up my hotspot next to a second story window and the app has been saying registering hotspot with the spinning haloes for almost an hour now is this normal someone reacted almost immediately they said no it’s not try strength repetition too try ethernet for contact so i tried the power hertz signifying i unplugged the hotspot plugged it back in what do you know that did the joke my hot spot was now online but that didn’t mean it started mining immediately it still had to sink to the helium blockchain helium says to allow 24 to 48 hours to fully sync the blockchain for me this process started on the evening of march 13 th when i first got my hot spot online and it was fully synced within 24 hours so on the evening of march 14 th and shortly thereafter my hotspot received its first mining payoff for 0.08 hnt so i’ll situate my payoffs up on the screen i largely get between 0.1 and 0.3 hnt per period sometimes a little bit more sometimes a little less but look there’s no work involved here i just change this hot spot up and it automatically started contributing to the helium network and i started mining helium super easy right and if you go to explore.helium.com coverage you can actually see a planned of all the helium hotspots worldwide and how much helium each of them are earning right now and how much helium they’ve earned historically this can certainly give you an idea of how much h t hot spots in your range are earning on that note let’s talk a little bit more about how these mining payoffs are actually gave how do these hotspots actually earn hnt well the first room is by simply changing data from designs on the helium network helium was of the view that around one third of the mining reinforces are for assigning data and how much you receive depends on how much data your hotspot is responsible for other mining remunerations largely revolve around what’s called a proof of coverage challenges so what happens here is the network will choose a hotspot to issue a challenge to another hotspot in other words uh they’re asking that challenged hotspot to transmit proof that uh of its system coverage right that’s actually contributing to the network which will then be verified or witnessed by some of the other hotspots in the area a little bit of quarrying remunerations goes to the challenger but most of it “re going to the” watches that report proof of coverage activity in their range so you’re going to have more opportunities to get involved in these activities of witnessing proof of coverage challenges if you live in an urban area with lots of hot spots around but the same time you’ll too be splitting those payouts with a larger number of hotspots now as of right now my hot spot regrettably has not been able to acted as a witness for any proof of coverage challenges yet this is mostly because my hot spot is not abysmally close to many other hot spots and the hot spot that it is relatively close to are not inevitably at these levels so there’s not really that line of sight going on uh but i might actually buy an antenna in order to be allowed to to maximize my h t honors be able to witness other hot spots in my area there is another hot spot in my region that does witness proof of coverage challenges and they typically earn something like 7 hnt per daylight which is like 20 to 70 times more than my hot spot is making so obviously if you’re closer to other hot spot and your hot spot has a clear line of sight with other hot spot you’ll be able to witness proof of coverage challenges and earn a lot more hnt than if your hotspot only participates in challenges or develops challenges like quarry does at this level so for me you know there are actually there are a few other hotspots in my area but for whatever reason my hot spot is not able to witness proof of coverage challenges with those hot spots uh like i mentioned perhaps i can rectify that with an feeler so i may actually get an antenna for my hot spot another way that a hotspot can make hnt honors is when the network haphazardly espouses hotspots to join the consensus group for a set period of time the consensus radical is responsible for validating deals and contributing them to the blockchain and they get substantial substantial reinforces for doing that and the final third of payouts go to helium itself as well as early investors so i don’t get a piece of that pie as a hotspot owned obviously now you might be wondering okay logan you’re earning a little of hnt per daylight how much does hnt actually work well as of the time i’m recording this hnt is worth seven dollars and 32 pennies which determines helium the 107 th largest cryptocurrency in terms of market cap as at the time of recording you could get one coin for less than a dollar as recently as december and the price has been on a reasonably consistent upward path since around the end of january so how much is my hot spot fixing me per epoch in dollar appreciate basically anywhere from 70 cents a date to a little over a marry bucks a era but if perhaps for the use of an feeler i’m able to witness proof of coverage challenges for other hot spot in my area like another hot spot near me does i could possibly you know 10 x 20 x 30 x maybe even 70 x those earnings now i can’t tell you whether hnt is going to keep going up or not i don’t want to tell you how to invest your money personally i think this is a really exciting project but eventually whether the government has makes off in the way the creators are foreseeing is anyone’s guess but hopefully this video “ve given you” a better idea of what helium is all about and some information about the helium hotspot i made a link to helium’s website in the description below regrettably you can’t just you know go out right now and buy a helium hotspot this particular model uh helium does not have them for sale at this time that said in the coming weeks i hope to develop relationships with third party uh hotspot makes that you can use to quarry helium and maybe they’ll even be kind enough to send me uh their own hotspots so that i can perhaps arrange them in a rental quality or a friends or family member’s house and test out those hotspots as well and see dedicated inspect videos for those working hot spot that are currently available on the market right now so be sure you’re subscribed to the channel and make sure you hit the little notification buzzer down there to make sure you don’t miss any of that helium referred material also early next month i will be publishing an interview i’m going to have with assessment phillips who is the vice president of business development at helium i’m going to be chatting with him about helium the people’s structure uh how helium you are well aware genuinely is intended to obligate the world countries a better place for the network we’re going to talk about helium quarrying a great deal of other entertaining stuff if you have any helium related matter feel free to leave them in the comments below and i may ask mark about them when i got chat with him and then i has publish that interview right here on the direct for your viewing pleasure thank you so much everybody for watching this video i hope it was educational i hope you learned a lot i have a couple of other videos that i know that you will desire these videos will show up on the next screen and i’ll see you over there you

As found on YouTube

Get Your Free Helium Miner Here – Join Now


Click Here to Leave a Comment Below 0 comments