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 jolly fun campaign it’s become a delightful little river of name 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 channel 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 predicted it helium who really has some pretty interesting things going on right now like i said i’ll talk more about the mining appearance of helium and the device i’m expending to quarry last-minute in this video helium did hooking me up with that design by the way so props to them but first let’s talk a little bit about what helium’s mission is to reach the world countries a better and more efficient place so helium sees itself the people’s system and the helium network admits machines 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 water meters and ecological monitors that move humidity temperature breeze tone and more so if you want to use those machines with a usual cellular communication you’re going to need sim cards and those might not be cost effective depending on their application certainly wi-fi comes with its own disadvantages with respect to network range but in contrast to wi-fi helium uses the lorawan protocol which allows them to communicate over much larger divergences now the sacrifice there is that you can’t communicate as much data via radio wave as you are eligible to with a wi-fi network but helium isn’t really intended for users to send vast records or anything like that in the first place it’s more about offering wide coverage for big containers of data such as for gps trackers or motion sensors or air aspect monitors etc it wouldn’t be practical to download movies over the helium system but it can be really effective for moving low-toned volumes of data over sizable lengths you can actually buy a variety of sensors that are ready to work with the helium network they have sound detectors inhale and heat detectors soil sweat observers body temperature sensors flow detectors you name it you can read about some of the use events 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 mostly what happens is that users who want to send data over the helium system pay for that coverage in the form of data recognitions which i will touch on last-minute and people with hot spots 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 subject that creates devices to track resources like vehicles uh sending receptacles trailers tools pallets and more instead of connecting these objects to a cellular network 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 designs to monitor your resources you can use helium’s pay-as-you-go model to buy nonetheles many data credits you need for the amount of information you’re sending over the network in turn helium hotspot owners are incentivized to provide that coverage in exchange for the mining wage so they receive that intelligence they include 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 studies 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 credits that users waste to send data over that structure as i mentioned earlier there are two sides to this network on one paw you have network consumers devoting data ascribes and on the other hand you have miners rallying helium clues or hnt by contributing to the network now instead of being linked to the price of hnt the data ascribes are actually linked to the price of the dollar one dollar is always equivalent to 100 000 data credits on the other hand data ascribes can only be produced by converting or burning hnt as helium says and data credits are only redeemable for system utilization they can’t be sold with anyone else there are five million hnt being minted every month right now and that quantity will automatically be cut in half every two years starting on august 1st 2021. In other oaths even though you have to burn hnt to create data credits the ply of hnt doesn’t really have anything to do with how many data credits are actually being used so let’s say one hmt coin is equivalent to 10 u.s. dollars that intends every hmt coin 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 gains evaluate now let’s say it’s worth 100 us dollars instead of 10 well now your 1 hnt will convert into 10 million data approvals and the purchasers will merely need 1 10 of an h t silver to access those ascribes so it’s not that you now need more data ascribes for the same amount of data is that you’ll need more hnt silvers in order to burn the same number of data ascribes this is based on something called a burn and batch stability i don’t want to expend too much time on it for the purposes of this video but the point is that the value of hnt will diversify based on demand from system customers as well as speculative request 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 structure and being reinforced for doing so through get 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 box that said helium hotspot i open the box up inside i observed the helium hotspot little setup folder as well as the hotspot itself it’s rather compact assessing 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 fasten the feeler to the side of the hotspot i had a little helper come in my lad 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 started my history generated my 12 texts now if you have a cryptocurrency wallet you’re probably familiar with this concept but these are basically your 12 grain words kind of think of them like a password for indicating into your cryptocurrency purse so you don’t want to lose these texts uh whether with the helium app or any other crypto based pocketbook that you have so the app generated by 12 paroles plainly i’m not going to show the 12 words on screen but i did write them down in a secure locating after this i set a bolt for my helium app patently i’m not showing that either then i sounded set up my hotspot i selected helium hotspot since that’s the one that i have and then the app “ve been told” where to residence my hotspot it is therefore says to give the hotspot a neat vistum hotspots adoration places where they can see plenty of sky so obviously second storey 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 hide in a nightstand or a bookcase it said to kept it next to a space instead then it said builds may block signals and that nearby buildings may decline the hot spots coverage for nearby devices this is why some helium miners actually buy an antenna to hook up their hotspot to give their hotspot a clear line of vision with other hot spots in the area then last-place one now 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 leader the app made me to the next screen where i want you to confirm that you understand that helium will never providing 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 dominance up attach the antenna and plug in the accommodated capability adapter your hotspot will boot up and its light will become lettuce one ready so uh before i sounds i’m powered up i certainly got my hotspot all powered up first thing i had to do was figure out the title locating for it thankfully in my upstairs home office i have a shelf right next to a window with a capability shop right beneath that space so that’s obviously a great location for the hotspot regrettably there was a bug screen on this space and i be reminded that the helium hotspot app told me that hotspots hate fault screens because they can block the signals i used removed the flaw screen i accidentally has broken the little tab off in the process uh but i eventually sounded it out and then i was ready to go i positioned my hot spot on the shelf i feed the ability rope into the outlet below the window plugged it in then i was ready to go the hot spot initially blinked orange which was unexpected i used pressed the pitch-black button on the side of the hot spot then the light was green just like the app said here today would be then i hop-skip back into the helium hotspot app i sounded i’m powered up then i saw a screen that said press the pitch-black button on your hotspot and its light should turn blue-blooded so i did that then i clicked scan for my hotspot in the app the app scan for my hotspot it discovered it and then connected to it then i had to configure the wi-fi network for my hotspot to connect to that’s basically simply the wi-fi network we have here at our live so i selected our wi-fi network throw 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 locale which of course i uttered 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 beset i moved a little map point around a little to make it more exact where my accurate orientation is i’ve clearly burned out the delineate now for self-evident intellects then i sounded register hotspot and then i got this screen registering hotspot and i was stuck on the screen for a while actually over an hour deemed to be or not that seemed odd to me that i was stuck on the screen for so long so i actually pate 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 rotating haloes for almost an hour now is this normal someone reacted almost immediately they said no it’s not try strength cycle also try ethernet for tie-in so i tried the strength cycle meaning i unplugged the hotspot plugged it back in what do you know that did the stunt 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 honor for 0.08 hnt so i’ll keep my rewards up on the screen i mainly get between 0.1 and 0.3 hnt per daytime sometimes a little bit more sometimes a little less but look there’s no work involved here i just list 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 deserving right now and how much helium they’ve earned historically this can apparently give you an idea of how much h t hot spot in your locality are deserving on that note let’s talk a little bit more about how these mining remunerations are actually made how do these hotspots actually deserve hnt well the first acces is by simply transposing data regarding machines on the helium structure helium was of the view that around one third of the mining payoffs are for transmitting data and how much you receive depends on how much data your hotspot is responsible for other mining remunerations chiefly 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 give is evidence that uh of its network coverage right that’s actually contributing to the network which will then be verified or ever witnessed in some of the other hotspots in the area a little bit of quarrying reinforces goes to the challenger but the majority of members of it “re going to the” watches that report proof of coverage activity in their place 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 likewise be splitting those payouts with a larger number of hotspots now as of right now my hot spot regrettably has not yet behaved as a witness for any proof of coverage challenges more this is mostly because my hot spot is not terribly close to many other hot spots and the hot spots that it is relatively close to are not undoubtedly at the same level 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 payoffs be able to witness other hot spots in my area there is another hot spot in my area that does witness proof of coverage challenges and they typically earn something like 7 hnt per era which is like 20 to 70 times more than my hot spot is giving so obviously if you’re closer to other hot spots and your hot spot has a clear line of sight with other hot spots you’ll be able to witness proof of coverage challenges and earn a lot more hnt than if your hotspot simply invited to participate in challenges or procreates challenges like excavation does at this point 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 maybe i can relieve that with an antenna so i may actually get an antenna for my hot spot another way that a hotspot can give hnt payoffs is when the network haphazardly picks hotspots to join the consensus radical for a set period of time the consensus group is responsible for validating transactions and lending them to the blockchain and they get substantial substantial compensations 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 pasty as a hotspot owner patently now you might be wondering okay logan you’re earning a little bit of hnt per era how much does hnt actually progressing well as of the time i’m recording this hnt is worth seven dollars and 32 pennies which utters helium the 107 th largest cryptocurrency in terms of market cap as at the time of recording you were able to get one coin for less than a dollar as recently as december and the expenditure has been participating in a somewhat consistent upward trajectory since around the end of january so how much is my hot spot spawning me per daytime in dollar price basically anywhere from 70 pennies a period to a bit over a pair bucks a epoch but if perhaps for the use of an feeler i’m able to witness proof of coverage challenges for other hot spots 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 fund personally i think this is a really exciting project but eventually whether the government has makes off in the way the creators are imagining is anyone’s guess but hopefully this video gave you a better idea of what helium is a matter for and some information about the helium hotspot i framed a link to helium’s website in the specific characteristics below unfortunately you can’t really 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 in order to be allowed to perhaps arrange them in a rental asset or a friends or family member’s house and test out those hotspots as well and clear dedicated recollect videos for those hot spots 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 relevant material also early next month i will be publishing an interrogation i’m going to have with marker phillips who is the vice president of business development at helium i’m going to be chatting with him about helium the people’s system uh how helium you are well aware certainly is intended to utter the world countries a better place for the network we’re going to talk about helium quarrying a great deal of other merriment 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 interrogation right here on the path 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 affection these videos will show up on the following screen and i’ll see you over there you

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