The Helium Miner… How Does It Actually Work?

hey everyone and welcome back to anothermining chamber video in today’s video i’m going to go over helium hotspot miners as wellas the helium network in general i will explain it to you so you understand how it wields and iwill likewise tell you everything you need to know before buying the hotspot so then at the endof this video it is easier for you to decide if this is a good asset for you now let’sgo ahead and get into it right after the intro helium has been a really hot topic the past monthdue to many stunning influencers generating different material about it as well as the cost war ofthe hnt sign which is what the hotspot miners must pay with all this has resulted into manypeople investing into hot spots without really understanding the helium network first sohopefully this video will give you a human affectionate understanding of the network and howeverything operates from a user to a miner now i won’t be going into the technical details so thatit is easier for you to understand but if after this video you want another part with diving indepth on how helium employs then delight feel free to let me know in the comments below so let’s firststart with the helium network the helium network is made by the hotspot miners that are placedaround the globe these hotspots use a really small amount of your wi-fi bandwidth in returnof providing long pushed to the network which is similar to wi-fi but it clothes much more distanceso when these hotspots are situated around the world it improves the network also known as the people’snetwork through the proof of coverage algorithm a lock fast and cheap network that companies andindividuals can use for their internet of things machines now you may wonder what is internet ofthings maneuvers iot machines for short-lived internet of things can be anything from gps locators andcars scooters and other means of transportation to sensors and any smart devices that communicatewith the internet to be able to send information now the mainstream channel that these iot machines sendinformation is by applying cellular structure which is more expensive and requires a lot more work to setup comparing to the helium network to be able to use the helium network you will have to createa console account with helium registry your iot makes and then purchase data credits datacredits are like mobile minutes that can be purchased for a prepay telephone programs onlyinstead of voice data data recognitions pay for sensor or design data transferred on the networkwhen data credits are obtained some hnt is likely to be burned motiving a deflationary aftermath whichis always good for the price of the hnt token now as we are familiar with ethereum it is a similarconcept with what they are implementing on eip1 559 with burning the fees rather than rendering themto the miners which can also lead to a positive toll impact now the only difference is that hnthas a max supply while ethereum has no max supply so over period hnt give will decrease causingmore dearth which in return often means the cost will go up but still keep in mind that itis cryptocurrency and it can go up or down which is completely fine now back to the network yoursmart machines at home will not be using the helium network if you have set up a hotspot or if thereis one near you because when you set up your smart bell you most probably connected it to your homewifi immediately rather than the helium system long fi which you’ll need to set it up through the userconsole like i mentioned earlier as of now there are many incorporations between different iot cloudplatforms with helium as well as many companies that are using the helium network which is alwaysgood to see in a project like this hopefully that clarified for you the vision and the goal forthe helium structure also known as the people’s network and what is the use case for it now let’stalk about an essential piece of this system the hotspots the hotspot miners are insignificant littledevices that look like an internet router and they come in different flavors they select a really smallamount of supremacy as well as take a small amount of your wi-fi bandwidth to be able to supply thelong battle to the helium network in return you get paid in hnt tokens based on multiple differentfactors which i will treat later on in the video so i would most suggest not scurrying into buyingthem until you get to that segment now when the helium system was still somewhat brand-new anyone wasable to make their own hotspot miner at home by using a raspberry pi and a specific module aswell as a good antenna but now you have to get them through the manufacturers that are approvedby helium you can still realise your own at home but the only thing is that you won’t be getting paidat all instead it will really help the network there can be many reasons for that but i’m not reallysure exactly why so i wouldn’t be able to give you an explanation so now these manufacturershave different seems and some are able to be outdoors and while others can only be indoorsbut in general they are all very similar and one won’t shape you more fund than the otheralthough there is one thing you want to keep an eye on and it is the frequency you want tomake sure that you get the proper chip frequency for your region which i will flood later on in theconclusion when i got too talk about where i bought mine from now the hotspot miner i will be usingin this video was sent to me by the team at helium it is the original pattern that is not producedanymore but the setup process will be identical to the other miners as well so let’s go ahead andjump right into the setup setting up the hotspot miner is super simple unbox your parts connect theantenna strength plug and optionally you can connect your ethernet but you can also rectified it up throughwifi and then after that you want to go ahead and download the helium app now this app is goingto be used to manage all your hotspots if you got more than one and it’s also going to be yourwallet for the hnt that you will earn so do make sure that you save that 12 term seed phrasesomewhere safe and never share it with anyone after you have the app lay and backed upyour seat phrase now you want to go ahead and included the brand-new design select the manufacturer that yougot it from and then proceed with what testifies on the screen it does not make more than five minutesto set it up the team at helium become it super simple to get going with this your helium minerwill need some time to synchronize so utter it up to three days and then check up on it you willstart get hnt clues based on how well it does and that depends on multiple different factors sobefore we get into that let me briefly explain the reward structure the reward organization can bea bit perplexing at first so i will try my best to clarify it as much as i can so the first thingyou will notice that it is broken into 6 different things firstly “youve had” the proof of coveragechallenger challenges as well as onlookers and this is where most of your reinforces will comefrom how i understood this is that a challenge is just a means for the hot spots to prove theirlocation the way that the flow disappears is that a hotspot would initiate a challenge to a randomhotspot in the network once every 240 blocks which comes out at nearly two hours this hotspotwill not be considered a challenge and it needs to acknowledge the challenge and send informationback about its spot proving that it is online and rendering coverage and then the witnessesare the hot spots that are near you once they watch the operation they too get rewardedfor it same becomes if a hot spot near you gets a challenge and your hot spot onlookers it so it’sjust a style to maintain the network and make sure that every hotspot is up and running and providingcoverage now like i mentioned this performs up the biggest reward percentage and it only relies onthe location of your hotspot if you have it in a dead region with not many hotspots around you thenyou won’t be inducing much from this at all which i will cross more in the locations part of thisvideo and then the next honor is the consensus group now for the consensus group pick afterdoing some burrowing i came out with this summary right here so it starts with 16 members and perepoch four new members will be selected while the 12 remains the same which they end up beingreplaced in the next three ages so formerly four epochs are progressed that necessitates all 16 members arechanged because we’re changing for each date now new periods are generated every 30 blocks and eachblock is 30 seconds so a new date is organized nearly every 15 instants now the rewardof being selected as a consensus group representative is around 45 hnt now this is for the average somepeople might get a lot more some people might get a lot less so for example if we take a look atthis locate where it shows the different honors we can see that in the last 24 hours some hntminers determined over 200 or 100 hnt some of them even nearly did 500 hnt which is a crazy amount of hntwhich means being selected as a consensus member it’s like mostly acquiring the raffle with hntminers now the curious of being adopted are not so bad so once i did this calculation it was around2 4 and 315 active hotspots in the past 30 daylights and every hour it’s eight new members being selectedso if we do the math for this then you have a probability of being selected once every 127 daysnow one thing about consensus group selection that it won’t be there forever in august formerly theirvalidators is living these rewards will go to the validators rather than the hotspot miners so doexpect this part to go away later on which can lead to a six percentage droop to the incentives forthe hotspot miners now after the consensus group there is also the security signs now this canbe a little bit misleading but this is not for the hotspot miners it’s just for the holders andinvestors of hnt so don’t expect to get paid from that on your hotspot miner and then finally youhave the network data transfer the network data transfer is what happens when a consumer uses the datacredits on the helium network to be able to send some data like we spoke before so when thecompanies use the helium network you likewise do get paid from that now this doesn’t play a big partin the reinforces as of now so for example you can see here in the last 24 hours the data creditsresulted in payoffs of less than one hnt so it’s not that large-scale of an amount at all but eventuallywhen more data is being used the reinforces will increase with it now you guys can also notice thepercentages here in the h t dispensations but if you want to find more accurate information i woulddefinitely come to the sidebot.com and then look at them here and then you can just calculate thepercentage so if the words of hnt were 102 000 in the last 24 hours then you can see here almostaround 70 of that was just through evidences and then challenges was almost like 20 and thenthe rest of it was less than 10 so this would be the best way to get accurate and up-to-dateinformation now there are many things that are coming into the network that will change theprofits and one of them being all the hnt miners the hell is being succession now which will be onlinefrom june to september and then too the having that’s coming up on august i will be talking aboutthat also later on in the video now that wraps it up for the remunerations now let’s go ahead and talkabout locales for the hnt miners and give you guys some gratuities on residence them as well as howmuch possible you’ll be attaining from this miner understanding your location potential is a crucialstep to mining with the hotspots now there are many boosted styles that you can calculate yourlocation profitability based on different factors but for this video i will be keeping it simple soyou can have a good sentiment of what you need to know the main factor is being near other hnt hotspotminers but also not too close to them so the ideal distance between you and other hot spot should bearound 300 meters and to imagine that it will be around three football fields now there’s anotherhot spot in your build that should not mean it’s over for you you are able get remunerations but bothof you will get less wages comparing to simply one maneuver per 300 meters the worst case is whenyou’re alone and then there is no inventions near you at all that will cause your motivations to be verylittle and it does not help the helium network build out through the proof of coverage so oneof your solutions if you fall under this scenario is buying at least two hotspots and then placingthem in someone’s house that you trust around you or convincing your friends to take a look intogetting some of the hotspot miners now to get a good idea of how much you are able to form in your areago to the network explorer and explore hotspots around you and be seen to what extent much they determine daily youcan find all the hotspots that are online here which also entails if you communicate someone your hotspotname they will know exactly where that hotspot is located so do be careful on that side for privacynow simply keep in mind that the profitability that you will see on the adventurer that doesn’tmean that it will be guaranteed whenever you get your hotspot as well there’s a lot ofthings that will change and i will embrace that liberty after we finish this section there’s alsoa couple of tips that you can follow to help you achieve peak coverage and contact to otherhotspots first one is make sure that your hotspot has a good line of sight placing your hotspot neara opening and evading as countless walls as possible can help your hotspot reach and witness furtherdevices which likewise symbolizes the higher the hotspot is located the better line of sight it will have so ifyou live in an accommodation that is on a high floor then you will be able to reach more hot spot andwitness more hot spot and the second tip would be shopping for a stronger antenna now this is notrequired but is just another way to increase your coverage of your hotspot and contact more hotspotsaround you so obstructing that in memory you’ll be able to place your hotspot efficiently to maximizeyour payoffs there are also many tools out there that you can use to get a better location foryour hotspot miner such as cloud rf which will calculate your line of vision so feel free to lookinto these different implements and picture which one is contributing to the most also one thing worth mentioning isthat when you decide to transfer your hotspot to a brand-new location it does come for a small fee of1 0 but the process is fairly simple and it can be done through the helium app so now that coverseverything so far about the helium hotspot miner and the network in general so now hopefully youhave a good plan of the profitability the process and everything in between so now we can goahead and talk about the future of helium especially for the hotspot miners will it alwaysbe honoring as it is now the number of helium tokens that are mined yearly are a fastened numberso even if more consumers come to the helium network there will still remain a fixed quantity of hntthat will be distributed to old hotspot miners currently before the having 60 million hmt aremined yearly averaging around 5 million a few months in sitebot the numbers demonstrate differently due toinconsistency with the data so do dismis the full amounts of the honors that are shown there until it’sfixed so to calculate the estimated revenues we first want to take a look at the hotspots inthe network the hnt hotspots are exponentially increasing up to 500 devices are being turned onevery day so the profitability generally will simply was down when more maneuvers come online but thatdoes not mean everyone will experience profit loss those who live in areas that are not saturatedwith helium hot spot they might experience profit increase if they get a couple of hot spotsaround them which will help with the watches and everything that deals with wages now if you livein a saturated place with a good deal of hot spot around you and you get even more hot spots there thenyou can expect less gains there the highway we will calculate the profitability is by the total hntmind a month divided by the total hotspots that are currently online like that we can get a goodaverage of what someone can expect to be starting pre-halving and then we can also get a goodestimate of what expected to be fixing post-having so the total hnt mind is 5 million a month andthen we can divide that by 30 000 for the total hotspot miners that are online which gives usaround 166 hnt a few months or an average of 5.5 hnt a period current price of hnt is 16.60 so that meansa period you can be bringing in around 92 dollars which comes out to virtually three thousand dollars amonth now this is just the average so some people will make less than two hnt while others willmake more than 15 hmt based on your orientation so it’s just a rough estimate for the reinforces basedon april 29 2021 and as it seems so far they don’t look bad at all so what the hell is it definitely sounds like two tothree months down the line after the having occurs and a lot more hot spot get online an emailsent out by helium shows that there were 150 k orders of the hotspots at the time of the emailwas referred since then we can assume that the amount most probably descended up to 200 k hnt miners so thecurrent network is 30 k maneuvers and now we can add the 200 k maneuvers that will go online in thecouple of the upcoming months and then we will have the total of 230 k inventions now this is just anestimate it won’t be accurate it might be more or might be less the halving will happen in augustapproximately in 93 days from this video being affixed which entails then the wages will be cut inhalf so instead of 5 million hmt among our mind well 2.5 million now the 2.5 million divided bythe 230 k hotspots that will give us an average of around 10 hnt per month per hotspot likening to166 hmt a month it is definitely a big drop but likewise like before some will make less than one hnta month while others can make up to 15 or more hnt a month based on your position and your coveragebut that will be hard to predict i am sure you’re surprised and you think it’s not worth it butthere’s also good in this and that is that the hnt sign rate is absolutely going any further up now thisis just price speculation but if hnt cost goes up to 50 or a hundred dollars then forming 10 hmt amonth is still amazing especially for the price spot of this hnt miner which is less than 500 nowthat mostly gives you a look in the future of the potential outcome for the hotspot miners nowas a conclusion and my plan of action i think this project is brilliant not just from the miningaspect of it but likewise the network in general i think it’s a great project and a revolutionarytechnology that was long overdue there are also bulletins on the 5g structure which is alsocrazy extremely the fact that us consumers will be able to use it as well with our phones thatsupport 5g but more on that when they release it now what i did was i five hnt miners fromsp the americas now the reason why i five of them is because i do “ve got five” locationsthat i can locate these helium hotspots in from friends and family and the best thing aboutit is that it’s pretty cheap to buy these devices it’s 500 per design now i’m not saying 500 is nota lot but comparing to gpu mining 500 is basically your power supply now i’m still a full-on gpuminer but this is just something nice to have on the side so the reason why i bought five of themfrom sb north america is because sp north america is run by a friend of mine wolf of bitcoins healso connected me with helium for the hotspot that they mail me the rebrand is powered by syncrobetwhich is one of government officials makes for the helium hotspots so here on sp north americayou can see the simulation excerpt and since i live in canada i adopted the first choice whichis the 915 hertz which is compatible with us and canada for europe you would want to selectthe 868 hertz alternative and eventually sp north america is also adding the 915 hertz for australiawhich fees on a different zone from the one on us or canada now if you don’t know what frequencyyou will be using i will leave a link in the descriptions below that has a list of differentcountries and their frequencies now not all of “the two countries ” are filled in but you can justtake a look at it and try to figure it out from there and instead if you don’t find youranswer there you can always invite helium in their schism server they’re always there to help even imyself attacked them with questions until i got a timeout from their bot they were super helpfuland i’m sure they will answer your questions so now if you decide after this video on buyinga hotspot miner feel free to use my associate below for sp the americas which will give you fivepercent off at checkout employing the certificate friends five off you can always feel free to browse theother manufacturers as well the delivery time will remain similar across all of them estimateddeliveries are from june to september based on the quantity you make it in currently sp north americais on their second batch which ships in july to august one thing i recommend eschewing is buyinghnt miners from ebay for five thousand dollars and up i feel like that is too risky and a lotcan just go wrong so please be careful and likewise be very careful of imitation distributors if it’snot on the helium website and approved by them then exactly don’t buy it now that folds up thevideo guys i hope you experienced this video and i hope it rebutted your questions if you have anyquestions or anything that i messed up please let me know in the comments below and if you liked thevideo make sure to leave a thumbs up and if you’re new now make sure to subscribe thank you guysfor watching and i hope you have a wonderful day you

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