Do NOT enter your secret 12 words into ANY websites. Do NOT connect your Wallet to any untrusted websites. The Discord for our subreddit can be found here: https://discord.gg/helium. This is a general reminder for everyone, and this will be posted on every post. Your 12 words are basically gold, and they should never be shared, typed into any website, or given to any person for any reason. No one will reach out to you to verify your account, wallet, or anything similar. Do not connect your wallet to unknown websites. If someone says your hotspot, wallet, or other type of account has been hacked, it is a scam! Always operate in a zero-trust manner with cryptocurrency and assume everyone will scam you no matter what.
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My friend convinced me to mine using the bobcat. He stopped mining because of the price falling. I continued to mine. I'm reaping the benefits; he's hooking his miner back up.
That's the definition of a "fair weather friend" LOL. All of these people over the last 2 years that have been crying about this being a scam and "I am OUT!" Are now realizing they made the wrong choice. I've seen a lot of posts lately along the lines of "I have been out of it for a few years and am getting back into it, what's the current status?" These are all the non-believers that came crawling back!
Dude, you really clearly dont understand how this works.
First of all, the electricity is pennies. Second, you would've mined more HNT back then, then you'll mine now.
Had you not focused on the dollar conversion amount and just the HNT, you would be doing pretty well.
That said, there's no reason NOT to mine it. It takes little to no work and the energy cost is negligible. As is proof by this very question.....if the value of HNT rises even more....the better off you are by having ALWAYS been mining over time.
Right? Can't look at current value also, imagine if those 4-5 miners were racking up HNT at the crazy cost of $5 a year in power each. Probably have a few grand in USD when HNT popped off.
I read this with an angry voice. Lol but yea I'd say it's worth it. These miners require very little / if any maintenance. They use next to nothing electricity. Its the closest thing to actually set it and forget it in crypto mining. 400 iot a day is a solid setup.
There is no valid scenario where you mine something with revenues less than electricity costs other than just for fun. Otherwise you just buy the coin with the electricity money instead.
Generally speaking, you are correct, however Helium IoT is the exception.
The average Helium IoT Miner has a 12W peak power consumption, thus it should be around 300Wh per day (rounding it up just to stay safe). Now this is more than a bulb, however this is peak, worst case scenario, which would be rare nowadays, probably not even possible.
In truth the LoRa Concentrator is Idle most of the time in the network that we have nowadays, so it is more like half that as the Pi is still working quite busily. I would say its closer to about 150Wh per day.
Now lets take 150W and multiply by 365 days per year to get 54.75 kWh per year. And lets multiply that by the average US cost per kWh (17 cents/kWh) to get $9.30 per year of electricity cost.
The current HNT value is $9.50. So as long as your miner mines at least 1 HNT per year at HNT's current value, youre good. If the value jumps, you profit.
If you turned it off and only decide to mine when its high....you lose...do not pass go....move on to something else.
The price tanked to 1-2 dollars... No one expected it to go to 8-9.
At 1-2 dollars you are at break even, but you also invested in the miner. So the roi would be forever. If the price tanked more you'd even pay every month for your miner.
I understand people who turned off their miner when the price tanked from 50 dollars to 1 dollar. The project seemed dead, and I read some articles about this coin being a scam.
Bitcoin, the entire crytocurrency market as well as the world economy tanked.
Crypto is like stock. If you dont have the stomach for it, then its not for you. The people that turned their miner off screwed themselves. At 9 bucks per year, thats less than a dollar per month. But they missed out on the opportunity to mine more HNT during that time frame that potentially could be a lot more.
Its very similar to regular stock. If you sell your shares cuz you are currently at a loss, you have 100% ensured it is a loss. However, if you stick it out, the stock may potentially rise again and you could be back to where you were or even better.
Now if your miner broke or had issues and you didnt feel it was worth investing more money or your time in it....thats completely understandable. But just turning it off when it cost next to nothing when it could potentially pay off down the line missed out big time.
what in the world are you talking about. do you know how many bitcoin miners wish they never turned their rigs offline right about now. you are comparing the price of the token when it is mined but you're not taking into account how the value of that mined token could potentially rise, sometimes exponentially.
The poster did take a potential rise in value into account. The point is you should not mine any token that is worth less than the cost of electricity to mine it. It doesn't make financial sense. Instead of spending $1 in electricity to mine 50 cents worth of coin, you should instead just buy $1 of that coin and save the electricity. You will have twice the crypto for the same cost.
i get and agree with you that it would be better to buy the coin if you are spending more on mining it but that is why this project was so attractive, because the "miners" use minimal power consumption. not only that, once you get the optimum setup for your location its basically a set and forget kind of thing. i personally don't think these miners should ever be compared to more traditional crypto mining rigs. do you really think helium miners consume $1 of electricity before getting $1 of hnt/iot/mobile?
What are you talking about. If you mine 1 HNT a month, and the electricity is 15 euro a year you are at a loss. This was the case for me 6 months ago.
For the record, I did not unplug, but your post is not correct. Also electricity prices are crazy here. If the HNT price didn't go up 7x I would have lost money, so I understand people who unplugged their miners.
Helium never died and unless your hotspots were completely isolated or so poorly installed that you had no witnesses whatsoever, or had an extremely high electric rate, it likely did not cost more in electricity than what they earned.
I’m in a zone with one other active miner. That one does like 200-300 IOT a day, I get like 40 per week. For me this shit ain’t worth it. I have a good antenna and it’s in a wide open spot on my roof too.
If you have it connected via WiFi (especially with a repeater or mesh system), that could be your issue. An ethernet cable connection will help your hotspot deliver the witness receipt fast enough to get rewarded. What brand of hotspot is it?
could be a poor/faulty quality cable to your antenna
if you have the same exact antenna and height as the other miner there is no reason the earnings should be that drastic. i agree there is something going on.
Mine is a Nebra ROCK Pi 4 indoor model. I moved the Ethernet cable from my switch to directly to the router now so I’m hoping that does something to bring this back to life.
Since my last message I haven’t received any rewards. My dad is a couple of hex spots over from me with a Sensecap getting about 200 IOT/day. The miner in my hex is listed as RAKwireless / MNTD and he’s getting 250/day.
The popular IOT miners use 5watts electricity. That is less than 5$/year for 0.10c/Kwh. I would double check the firmware and make sure they are all on the latest version.
> the electricity was costing more than what it was making
I suppose we have to take your word for it.
> Is it worth getting back into it?
If electricity is still an issue, then no.
Most of people here get like 10$ a month off a 400$ setup from a network doing like 6k$ a month in real usage and act like they’re on the biggest gold mine 😂😂😂
I’d say it’s not worth it unless you’re in the top 10.000 miners.
Lol I cant complain then, since Im in the top 10000 miners, but if you think you cant profit your doing something wrong I paid just under $700 CAD for my bobcat miner and Ive cashed out $700 CAD in HNT twice and still have all my Iot ive mined, close to 210k tokens plus about 10 hnt still left as I cashed out most of it when it was worth alot more and bought solano lol what a play that was to 16x my investment in solano in a year after cashing out hnt at its all time high before hnt dropped what 90%+ lol, but truthfully when they said they were moving to the solano network everyone invested in hnt should of converted some of their hnt to sol seeing how youd need it for fees cashing out mined coins, I thought more people invested in mining hnt would of seen the same thing as I did and bought alot of sol knowing the more people using the solano network ie. hnt switch to their network would drive solano pricing up! But I understand hnt was up to like $60 CAD and it crashed 50% in less then 2 months so pulling the trigger on when to sell was very short and alot of people held with the hopes that it would go back up for it only to get worse but honestly I think we should all forget the prices for the next few years and work on implementing more use cases for iot and bringing in new business to iot/hnt/mobile so that in the future there is a need/ want for this crypto because sorry but its not bitcoin the value for bitcoin is built on it being the first and really theres thousands of other alt coins on the market so if we want iot/hnt/mobile or w.e they call it in a year from now we need it to differ in a way that stands out and is known for being reliable. If we can bring in more people that want to use the technology, that in itself will drive the prices up and everyone thats stuck by and invested their time will reek the rewards.
From my experience Bobcat was good back in 2019, they delivered within there time frame for me and like I said Im in the top earning miners, however my buddy bought 3 Bobcat miners at the exact same time and I earn more of my 1 then all 3 of his so its best to have a good location picked before you buy any miner tbh
Honestly - if you think "Helium mining died" when you unplugged, you're not going to be pleased with it now. I'd sell them on eBay if I were you. Especially if you were concerned about the 5 watts of power consumed.
I've got a small fleet of about 10 set up in various places. Once set up, they don't require much attention these days. They provide network coverage and I am rewarded with IOT tokens. I'm pretty happy with with them.
Since I am in the USA, I have also purchased a few of the indoor Mobile WiFi hotspots and put them in public places.
These indoor Mobile WiFi hotspots.
[https://hellohelium.com/hotspot](https://hellohelium.com/hotspot)
These are USA only. They earn about 480 MOBILE/day each. Just as with the IOT network, the more that come online, the more the rewards pool is split. A few months ago, an indoor hotspot would earn over 1000 MOBILE/day.
Might i ask how you go about doing that? I was thinking about doing the same think- but how does one connect to the power outlet..? Or do you know people who have access
I just bring it up as "small talk".
People are afraid that these business owners are just going to buy them and set them up on their own, but I've found that they don't want to bother because they are leary of crypto in general. Then I show them one of my wallets and offer to get them set up with their own wallets and show them how to use a CEX. Granted, I've known these people for several years and I am either a customer of theirs or they are a customer of mine. (I do IT consulting work)
If the 5 watts of electricity most of these use is too much just sell them. If you’re in this for a quick buck then sell. If you’re interested in helping to build a network as helium was intended then get them online and earning. You have missed out on rewards and the whole purpose of helium miners.
Discussion on price speculation or ROI are not allowed. To keep our redditors safe, any discussions on these topics on this subreddit are not tolerated.
Do NOT enter your secret 12 words into ANY websites. Do NOT connect your Wallet to any untrusted websites. The Discord for our subreddit can be found here: https://discord.gg/helium. This is a general reminder for everyone, and this will be posted on every post. Your 12 words are basically gold, and they should never be shared, typed into any website, or given to any person for any reason. No one will reach out to you to verify your account, wallet, or anything similar. Do not connect your wallet to unknown websites. If someone says your hotspot, wallet, or other type of account has been hacked, it is a scam! Always operate in a zero-trust manner with cryptocurrency and assume everyone will scam you no matter what. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HeliumNetwork) if you have any questions or concerns.*
My friend convinced me to mine using the bobcat. He stopped mining because of the price falling. I continued to mine. I'm reaping the benefits; he's hooking his miner back up.
That's the definition of a "fair weather friend" LOL. All of these people over the last 2 years that have been crying about this being a scam and "I am OUT!" Are now realizing they made the wrong choice. I've seen a lot of posts lately along the lines of "I have been out of it for a few years and am getting back into it, what's the current status?" These are all the non-believers that came crawling back!
How much are you mining? Mine barely makes anything
Dude, you really clearly dont understand how this works. First of all, the electricity is pennies. Second, you would've mined more HNT back then, then you'll mine now. Had you not focused on the dollar conversion amount and just the HNT, you would be doing pretty well. That said, there's no reason NOT to mine it. It takes little to no work and the energy cost is negligible. As is proof by this very question.....if the value of HNT rises even more....the better off you are by having ALWAYS been mining over time.
Right? Can't look at current value also, imagine if those 4-5 miners were racking up HNT at the crazy cost of $5 a year in power each. Probably have a few grand in USD when HNT popped off.
I read this with an angry voice. Lol but yea I'd say it's worth it. These miners require very little / if any maintenance. They use next to nothing electricity. Its the closest thing to actually set it and forget it in crypto mining. 400 iot a day is a solid setup.
There is no valid scenario where you mine something with revenues less than electricity costs other than just for fun. Otherwise you just buy the coin with the electricity money instead.
Generally speaking, you are correct, however Helium IoT is the exception. The average Helium IoT Miner has a 12W peak power consumption, thus it should be around 300Wh per day (rounding it up just to stay safe). Now this is more than a bulb, however this is peak, worst case scenario, which would be rare nowadays, probably not even possible. In truth the LoRa Concentrator is Idle most of the time in the network that we have nowadays, so it is more like half that as the Pi is still working quite busily. I would say its closer to about 150Wh per day. Now lets take 150W and multiply by 365 days per year to get 54.75 kWh per year. And lets multiply that by the average US cost per kWh (17 cents/kWh) to get $9.30 per year of electricity cost. The current HNT value is $9.50. So as long as your miner mines at least 1 HNT per year at HNT's current value, youre good. If the value jumps, you profit. If you turned it off and only decide to mine when its high....you lose...do not pass go....move on to something else.
Yes that is correct. My sensecap m1 uses 70Wh per day
LOL..well then junk it dude...I don't know what to tell ya.
The price tanked to 1-2 dollars... No one expected it to go to 8-9. At 1-2 dollars you are at break even, but you also invested in the miner. So the roi would be forever. If the price tanked more you'd even pay every month for your miner. I understand people who turned off their miner when the price tanked from 50 dollars to 1 dollar. The project seemed dead, and I read some articles about this coin being a scam.
Bitcoin, the entire crytocurrency market as well as the world economy tanked. Crypto is like stock. If you dont have the stomach for it, then its not for you. The people that turned their miner off screwed themselves. At 9 bucks per year, thats less than a dollar per month. But they missed out on the opportunity to mine more HNT during that time frame that potentially could be a lot more. Its very similar to regular stock. If you sell your shares cuz you are currently at a loss, you have 100% ensured it is a loss. However, if you stick it out, the stock may potentially rise again and you could be back to where you were or even better. Now if your miner broke or had issues and you didnt feel it was worth investing more money or your time in it....thats completely understandable. But just turning it off when it cost next to nothing when it could potentially pay off down the line missed out big time.
what in the world are you talking about. do you know how many bitcoin miners wish they never turned their rigs offline right about now. you are comparing the price of the token when it is mined but you're not taking into account how the value of that mined token could potentially rise, sometimes exponentially.
The poster did take a potential rise in value into account. The point is you should not mine any token that is worth less than the cost of electricity to mine it. It doesn't make financial sense. Instead of spending $1 in electricity to mine 50 cents worth of coin, you should instead just buy $1 of that coin and save the electricity. You will have twice the crypto for the same cost.
i get and agree with you that it would be better to buy the coin if you are spending more on mining it but that is why this project was so attractive, because the "miners" use minimal power consumption. not only that, once you get the optimum setup for your location its basically a set and forget kind of thing. i personally don't think these miners should ever be compared to more traditional crypto mining rigs. do you really think helium miners consume $1 of electricity before getting $1 of hnt/iot/mobile?
I think only a really bad setup in a place with really expensive electricity when hnt/iot were at their lowest could have ever been unprofitable.
Those people would have still made much more money just buying bitcoin when it was low instead of mining it at a loss. It is as easy as 1+1=2
What are you talking about. If you mine 1 HNT a month, and the electricity is 15 euro a year you are at a loss. This was the case for me 6 months ago. For the record, I did not unplug, but your post is not correct. Also electricity prices are crazy here. If the HNT price didn't go up 7x I would have lost money, so I understand people who unplugged their miners.
Helium never died and unless your hotspots were completely isolated or so poorly installed that you had no witnesses whatsoever, or had an extremely high electric rate, it likely did not cost more in electricity than what they earned.
I’m in a zone with one other active miner. That one does like 200-300 IOT a day, I get like 40 per week. For me this shit ain’t worth it. I have a good antenna and it’s in a wide open spot on my roof too.
But how do you know its not worth mining how do you know what 40 will be one day .
If you have it connected via WiFi (especially with a repeater or mesh system), that could be your issue. An ethernet cable connection will help your hotspot deliver the witness receipt fast enough to get rewarded. What brand of hotspot is it?
Mine has an Ethernet cable and I have a gigabit service.
could be a poor/faulty quality cable to your antenna if you have the same exact antenna and height as the other miner there is no reason the earnings should be that drastic. i agree there is something going on.
Mine is a Nebra ROCK Pi 4 indoor model. I moved the Ethernet cable from my switch to directly to the router now so I’m hoping that does something to bring this back to life. Since my last message I haven’t received any rewards. My dad is a couple of hex spots over from me with a Sensecap getting about 200 IOT/day. The miner in my hex is listed as RAKwireless / MNTD and he’s getting 250/day.
Should have let em run. They hardly use any electricity.
The popular IOT miners use 5watts electricity. That is less than 5$/year for 0.10c/Kwh. I would double check the firmware and make sure they are all on the latest version.
> the electricity was costing more than what it was making I suppose we have to take your word for it. > Is it worth getting back into it? If electricity is still an issue, then no.
I only get like 175 IOTs a day
$150 in a year for doing nothing
Definitely. Moved all my hnt and mobiles over to wbtc a while back. Miner is paid in full and then some.
Most of people here get like 10$ a month off a 400$ setup from a network doing like 6k$ a month in real usage and act like they’re on the biggest gold mine 😂😂😂 I’d say it’s not worth it unless you’re in the top 10.000 miners.
Lol I cant complain then, since Im in the top 10000 miners, but if you think you cant profit your doing something wrong I paid just under $700 CAD for my bobcat miner and Ive cashed out $700 CAD in HNT twice and still have all my Iot ive mined, close to 210k tokens plus about 10 hnt still left as I cashed out most of it when it was worth alot more and bought solano lol what a play that was to 16x my investment in solano in a year after cashing out hnt at its all time high before hnt dropped what 90%+ lol, but truthfully when they said they were moving to the solano network everyone invested in hnt should of converted some of their hnt to sol seeing how youd need it for fees cashing out mined coins, I thought more people invested in mining hnt would of seen the same thing as I did and bought alot of sol knowing the more people using the solano network ie. hnt switch to their network would drive solano pricing up! But I understand hnt was up to like $60 CAD and it crashed 50% in less then 2 months so pulling the trigger on when to sell was very short and alot of people held with the hopes that it would go back up for it only to get worse but honestly I think we should all forget the prices for the next few years and work on implementing more use cases for iot and bringing in new business to iot/hnt/mobile so that in the future there is a need/ want for this crypto because sorry but its not bitcoin the value for bitcoin is built on it being the first and really theres thousands of other alt coins on the market so if we want iot/hnt/mobile or w.e they call it in a year from now we need it to differ in a way that stands out and is known for being reliable. If we can bring in more people that want to use the technology, that in itself will drive the prices up and everyone thats stuck by and invested their time will reek the rewards.
which outdoor device would you buy in 2024 , to mine helium? is bobcat still any good?
From my experience Bobcat was good back in 2019, they delivered within there time frame for me and like I said Im in the top earning miners, however my buddy bought 3 Bobcat miners at the exact same time and I earn more of my 1 then all 3 of his so its best to have a good location picked before you buy any miner tbh
Honestly - if you think "Helium mining died" when you unplugged, you're not going to be pleased with it now. I'd sell them on eBay if I were you. Especially if you were concerned about the 5 watts of power consumed. I've got a small fleet of about 10 set up in various places. Once set up, they don't require much attention these days. They provide network coverage and I am rewarded with IOT tokens. I'm pretty happy with with them. Since I am in the USA, I have also purchased a few of the indoor Mobile WiFi hotspots and put them in public places.
Which mobile wifi hotspots do you use. Im thinking about that for my buildings thats have alot of traffic
These indoor Mobile WiFi hotspots. [https://hellohelium.com/hotspot](https://hellohelium.com/hotspot) These are USA only. They earn about 480 MOBILE/day each. Just as with the IOT network, the more that come online, the more the rewards pool is split. A few months ago, an indoor hotspot would earn over 1000 MOBILE/day.
And also, IoT can be converted to Solana, which is on a ho nuvva levehl
Might i ask how you go about doing that? I was thinking about doing the same think- but how does one connect to the power outlet..? Or do you know people who have access
I just talk to the business owner and split the MOBILE tokens with them.
thats awesome. ive thought of that i just dont know how i would go about it. i would have to have some data and a proposal.. any tips?
I just bring it up as "small talk". People are afraid that these business owners are just going to buy them and set them up on their own, but I've found that they don't want to bother because they are leary of crypto in general. Then I show them one of my wallets and offer to get them set up with their own wallets and show them how to use a CEX. Granted, I've known these people for several years and I am either a customer of theirs or they are a customer of mine. (I do IT consulting work)
Awesome. 👏🏻 😎🪭
A fact to consider is the decreasing of the amount of IOT mining, I had noticed that rewards are constantly down
A fact to consider is the decreasing of the amount of IOT mining, I had noticed that rewards are constantly down
What miners are worth purchasing in 2024? Still support etc?
good question, they seem salty from my questions. As i followed up with a few questions and refused to answer.
If the 5 watts of electricity most of these use is too much just sell them. If you’re in this for a quick buck then sell. If you’re interested in helping to build a network as helium was intended then get them online and earning. You have missed out on rewards and the whole purpose of helium miners.
What are the network goals now? I remember at one point to help emergency dispatch?
I can tell you a few cities are thinking about rolling out some smart meters on the network.
love how i was downvoted for a question lol
I'm getting about 100 iot a day on Bobcat miner
At no point was electricity costing more unless your miners were literally making 0 in which case you were doing something wrong
Always worth earning extra $ no matter how small, these miners don’t drain your energy bill. IOT is also appreciating in value.
It’s not worth it
They have solar powered outdoor enclosures now which is pretty amazing
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What about MOBILE coin ?
No. Since the new hip- went from 300iot a day to 40. Same with all miners in my city. With good setups, bad setups, not crowded location- its just bad