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 here and i am very pleased to announce today that i have officially started quarrying cryptocurrency with this little device right here it plugs directly 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 fairly recreation job it’s become a delightful little stream of position 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 path you know that’s what i’m all about build my torrents of revenue and my flows 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 aspect of helium and the manoeuvre i’m exerting 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 bit about what helium’s mission is to meet the world a better and more efficient place so helium labels itself the people’s system and the helium structure accepts devices 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 spray meters and ecological observes that move humidity temperature breeze excellence and more so if you want to use those devices with a ordinary cellular joining you’re going to need sim posters and those might not be cost effective depending on their consumption patently wi-fi comes with its own shortcomings with respect to network range but in contrast to wi-fi helium uses the lorawan protocol which allows them to communicate over much better divergences now the relinquish there is that you can’t communicate so much better data via radio wave as you are eligible to with a wi-fi network but helium isn’t really intended for users to send large enters or anything like that in the first place it’s more about offering wide coverage for small containers of data such as for gps trackers or action sensors or aura quality checks etc it wouldn’t be practical to download movies over the helium system but it can be really effective for tracking low-spirited volumes of data over big lengths you can actually buy a variety of sensors that are ready to work with the helium system they have sound detectors inhale and heat detectors clay moisture observers body temperature sensors motion detectors you called it you can read about some of the use contingencies 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 structure pay for that coverage in the form of data recognitions which i will touch on later and people 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 topic that creates designs to track assets like vehicles uh carrying containers 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 manoeuvres to monitor your assets 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 proprietors are incentivized to provide that coverage in exchange for the mining remuneration so they receive that datum they add 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 designs 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 system 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 ascribes that users waste to send data over that network as i mentioned earlier there are two sides to this network on one mitt you have network useds devoting data credits and on the other hand you have miners mustering helium clues 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 ascribes can only be produced by converting or burning hnt as helium says and data recognitions are only redeemable for structure utilization they can’t be transactions with anyone else there are five million hnt being minted every month right now and that digit will automatically be cut in half every two years starting on august 1st 2021. In other statements even though you have to burn hnt to create data ascribes the quantity of hnt doesn’t really have anything to do with how many data recognitions are actually being used so let’s say one hmt copper is equivalent to 10 u.s. dollars that means every hmt silver you have can be burnt for 1 million data approvals in other words someone who needs 1 million data recognitions will need one hnt coin then let’s say helium increases 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 credits and the purchasers will only 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 coins in order to be allowed to to burn the same number of data recognitions this is based on something called a burn and batch stability 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 differ based on demand from structure users as well as speculative involve from people who want to get in uh get into helium for the asset opportunity all right now let’s talk about how i am helping to build the helium structure and being honored 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 carton that said helium hotspot i open the box up inside i procured the helium hotspot little setup booklet as well as the hotspot itself it’s rather compact calibrating 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 append the antenna 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 mostly plug in the hotspot but before i did that i downloaded the helium hotspot app on my phone opened it up originated my accounting generated my 12 commands now if you have a cryptocurrency wallet you’re probably familiar with this concept but these are basically your 12 seed paroles kind of think of them like a password for indicating into your cryptocurrency wallet so you don’t want to lose these statements uh whether with the helium app or any other crypto based pocketbook that “youve had” so the app has brought about 12 messages clearly i’m not going to show the 12 commands on screen but i did write them down in a stick place after this i set a rod for my helium app undoubtedly i’m not showing that either then i clicked set up my hotspot i selected helium hotspot since that’s the one that i have and then the app told me where to sit my hotspot so it says to give the hotspot a nice notion hotspots desire places where they can see plenty of sky so obviously second flooring would be better than first floor uh the app said to have the hotspot space at least 300 meters away from other hot spot then it said not to hide the hot spot it said hot spot shouldn’t conceal in a nightstand or a bookcase it said to situated it next to a space instead then it said buildings may block signals and that nearby houses may decrease the hot spots coverage for nearby machines 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 spots in the field 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 sounded i’ve read the steer because i had indeed read the navigate 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 clicked i understand and then i had to enable location permission for the helium hotspot app which i conceded then the app said strength up attach the feeler and plug in the provisioned capability adapter your hotspot will boot up and its light-footed will become light-green 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 freedom locating for it thankfully in my upstairs home office i have a shelf right next to a opening with a capability shop right beneath that opening 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 hate flaw screens because they can block the signals so i removed the imperfection screen i accidentally has broken the little tab off in the process uh but i eventually popped it out and then i was ready to go i leant my hot spot on the shelf i guided the superpower line into the outlet below the window plugged it in then i was ready to go the hot spot initially flashed orange which was unexpected i used pressed the black button on the side of the hot spot then the flare was green just like the app said here today “wouldve been” 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 black button on your hotspot and its light-colored should turn off-color so i did that then i clicked scan for my hotspot in the app the app examination for my hotspot it witnessed it and then connected to it then i had to configure the wi-fi network for my hotspot to connect to that’s mostly just the wi-fi network we have here at our mansion i used 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 spot which of course i established 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 accurate locale is i’ve plainly burned out the map here for self-evident reasonableness then i sounded register hotspot and then i got this screen cross-file hotspot and i was stuck on the screen for a while actually over an hour believe it or not that seemed peculiar to me that i was stuck on the screen for so long so i actually honcho 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 inventing roundabouts for almost an hour now is this normal someone reacted almost immediately they said no it’s not try supremacy cycle also try ethernet for communication so i tried the strength round entailing i unplugged the hotspot plugged it back in what do you know that did the subterfuge 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 compensation for 0.08 hnt so i’ll keep my wages up on the screen i mainly get between 0.1 and 0.3 hnt per era sometimes a little bit more sometimes a little less but look there’s no work involved here i just fixed 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 map 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 it is able to undoubtedly give you an idea of how much h t hot spot in your locality are giving on that note let’s talk a little bit more about how these mining compensations are actually payed how do these hotspots actually deserve hnt well the first direction is by simply committing data regarding manoeuvres on the helium network helium says that around one third of the mining remunerations are for changing data and how much you receive depends on how much data your hotspot is under the responsibility of other mining reinforces 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 give is evidence that uh of its system 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 compensations goes to the challenger but most of it goes to the watches that report proof of coverage activity in their neighborhood 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 greater number of hotspots now as of right now my hot spot regrettably has not yet played as a witness for any proof of coverage challenges more this is mostly because my hot spot is not awfully close to many other hot spots and the hot spot that it is relatively close to are not necessarily 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 wages 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 period which is like 20 to 70 times more than my hot spot is giving 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 merely invited to participate in challenges or appoints challenges like quarry does at this part 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 ameliorate 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 arbitrarily chooses hotspots to join the consensus radical for a set period of time the consensus radical is responsible for validating business and adding them to the blockchain and they get substantial substantial wages 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 plainly now you might be wondering okay logan you’re earning a little of hnt per date how much does hnt actually progressing well as of the time i’m recording this hnt is worth seven dollars and 32 pennies which spawns 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 premium has been participating in a quite consistent uphill trajectory since around the end of january so how much is my hot spot impelling me per daylight in dollar appreciate mostly anywhere from 70 pennies a period to a little over a pair bucks a daytime 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 coin personally i think this is a really exciting project but eventually whether the government has makes off in the way the creators are visualizing 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 employed a link to helium’s website in the specific characteristics below regrettably 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 creators that you can use to mine helium and maybe they’ll even be kind enough to send me uh their own hotspots in order to be allowed to maybe sit them in a rental belonging or a friends or family member’s house and test out those hotspots as well and originate dedicated scrutinize videos for those working hot spots that are currently available on the market right now so be sure you’re subscribed to the channel and make sure you punched the little notification bell down there to make sure you don’t miss any of that helium pertained content also early next month i will be publishing an interrogation i’m going to have with commemorate 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 know certainly wants to move the world countries a better place for the network we’re going to talk about helium mining a good deal of other fun nonsense 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 chat with him and then i has publish that interrogation 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 cherish these videos will show up on the next screen and i’ll see you over there you

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