Cryptocurrency
- Thread starter Playboi Carti
- Start date
How has yours been performing? I’m only getting like .3 per day now. I was getting like 1 for a while
Not that great. Think it was like 5 HNT all of last month. Frankly, I just like that it costs basically nothing to run and there is nothing required of me to do the keep it running (unlike when I mined ethereum). I figure, even if I only get $20/month at this point its' basically free cash.
We talked about it earlier in the thread if you go back. Not energy intensive at all. Uses radio waves to verify transactions by pinging off of other miners. You need some near you to generate any cash, but you also don't want too many because rewards start getting reduced if there are a bunch of miners close by or in the same place.
Yeah I'm getting like 10 which isn't terrible but the first month I had it I got like 25.
To be honest, I wouldn't want to start mining anything at the moment. Helium miners cost $400 but they are backordered for 4-6 months. Or, $1000 or so from ebay. That is too steep of an investment in my opinion to obtain to bank ROI on a risky alt coin's performance. Heck if BTC goes into a long bear market helium will probably lose 90-95% of its value.
Personally, I would wait until a bear market and see what coins are available to mine at that time. Try to accumulate something before it pumps during subsequent bull market.
What do you think about getting my order in now and have that 4-6 months to let it stew? Then I’m ready to roll when it’s the right time? Also where is the best place to secure said helium miner? Also should I get 2 or 3 for resale later?
You could do that. But keep in mind HNT (helium) trades at $33 today and your miner would pay in HNT. Earlier this year helium traded for $1-$2. People today are making far less HNT, but still decent USD equivalent. If we get into a crypto winter situation where you continue to make the same in HNT and it drops in USD value, your ROI could be a few years away...or never if the helium project loses steam.
If that doesn't bug you, sure grab a miner and see what the next 12 months in crypto brings.
Getting extra is a gamble. They will continue to sell at a premium if people continue to make reasonable ROIs.
Bobcat Miner 300
Bobcat Miner 300 is a high-efficiency miner hotspot for HNT. It is compatible with Helium LongFi, an architecture that combines the leading wireless LoRaWAN protocol, and the Helium Blockchain technology. The Bobcat Miner 300 is also compatible with all LoRaWAN devices. The Bobcat Miner 300 runs...
You could do that. But keep in mind HNT (helium) trades at $33 today and your miner would pay in HNT. Earlier this year helium traded for $1-$2. People today are making far less HNT, but still decent USD equivalent. If we get into a crypto winter situation where you continue to make the same in HNT and it drops in USD value, your ROI could be a few years away...or never if the helium project loses steam.
If that doesn't bug you, sure grab a miner and see what the next 12 months in crypto brings.
Getting extra is a gamble. They will continue to sell at a premium if people continue to make reasonable ROIs.
Bobcat Miner 300
Bobcat Miner 300 is a high-efficiency miner hotspot for HNT. It is compatible with Helium LongFi, an architecture that combines the leading wireless LoRaWAN protocol, and the Helium Blockchain technology. The Bobcat Miner 300 is also compatible with all LoRaWAN devices. The Bobcat Miner 300 runs...shop.bobcatminer.com
So worst case I lose $429 and a few cents a month in costs?
I don't think this will surprise you haha but I don't believe in Web 3.0 or the metaverse. I think some Web 3.0 ideas could come to fruition but in general I don't think it's going to happen anywhere close to what people are saying. The metaverse I give about a 0% chance of happening. Tech companies have seen the success of concerts in Fortnight and have decided that this means people want to live their lives virtually? Seems like a crazy leap in logic. We've already had a Metaverse - it was Second Life and it failed despite having a niche market of dedicated users.Fair enough. You are certainly not alone in your assessment. I am definitely crypto cult materialso my opinion is the opposite of yours. Basically, this whole conversation boils down to whether or not you believe web 3.0 will come to fruition in any meaningful way. Personally, I think it will develop alongside web 2.0. It seems unlikely that it will actually replace web 2.0. However, I think you may be underplaying all that web 3.0 could offer. Time will tell I suppose. If you are not familiar with web 3.0, here is a recent general article that is pretty fair to both sides.
People are talking about Web3. Is it the Internet of the future or just a buzzword?
In the Web3 vision of the internet's future, tech giants like Facebook and Google aren't as critical. The internet instead is a peer-to-peer experience built on what's known as the blockchain.www.npr.org
This quote from the article you linked is a good way to explain the most basic reason I don't think Web 3.0 will happen:
"It doesn't make any sense," he said. "The vision says the problem with the internet is too many centralized intermediaries. Instead of having lots of different applications and sites, we'll put it all on blockchains, which puts it all in one place."
There was a really good Tim Ferriss podcast episode on Web 3.0 a month or two ago. I thought all three guys did a good job breaking down the potential and also offering some devil's advocate viewpoints at the same time. It's a fascinating listen:
tim.blog
Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs (#542) - The Blog of Author Tim Ferriss
Listen to Chris Dixon and Naval Ravikant on The Tim Ferriss Show podcast
tim.blog
I think the Metaverse sounds awful, lol. Personally, I find other web 3.0 ideas far more appealing.
Here's the thing, the herd is historically always on the wrong side of what future tech will look like. And they continually underestimate it by a wide margin. Here's a short list of me being on the wrong side of the digital world:
1. The internet - pretty much nobody would have envisioned what it is now 25 years ago. The web 1.0 folks never thought 2.0 would arrive either.
2. CDs - people will always want to own their own music, right? Nope. Turns out nobody cares.
3. blue rays - Maybe not music, but surely people want to own moves. Nope. Nobody cares about that either.
4. Netflix streaming - I remember having the 3 movies at a time netflix subscription back in the early 2000s. Then they gave you free access to like 2000 or so streaming titles. I thought NO WAY will this take off. Internet speeds are too slow. Wrong.
5. How about the rapid smart phone evolution?!?! Nuts.
6. I remember thinking how digital cameras would always be a required possession. Because afterall, phone pictures aren't good enough for framing.
7. Bitcoin is a joke. Nobody will believe in this.
8. Cloud storage. No way, give me that tape backup! Where is all my data? Nobody knows....or seems to care....
9. So I can take a picture of my check and deposit it? You don't need it?
LOL, this is fun. But I'll stop. You get the point.
I would personally caution people with the "invest what you can afford to lose narrative" when it comes to heavyweights bitcoin/ethereum. It is becoming more and more common financial advice to put a small portion of your portfolio into crypto. This could be mining stocks, GBTC, EFTs, spot ethereum or bitcoin, coinbase stock, etc. Just my 2 cents.
Here's How Much of Your Investing Portfolio Should Be in Crypto, According to 5 Experts
Cryptocurrency is a volatile, high-risk investment. That’s why many experts stick to the 5% rule.time.com
fair enough... If you are investing more broadly, you need to be careful is my main point. Also, for bitcoin, ethereum, volatility is similar to stock market.. So, you don't want to put money in that you plan to spend, or need in the short term (similar to stocks). But others may have a different take.
Yeah - it's true. Hard to predict what will happen! And I've been wrong plenty of times too. We've definitely underestimated technology over the years. But then again, look at how many times we've been wrong about the future in the other direction too. Things like 2001: A Space Odyssey, etc.
There was a really good Tim Ferriss podcast episode on Web 3.0 a month or two ago. I thought all three guys did a good job breaking down the potential and also offering some devil's advocate viewpoints at the same time. It's a fascinating listen:
Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs (#542) - The Blog of Author Tim Ferriss
Listen to Chris Dixon and Naval Ravikant on The Tim Ferriss Show podcast
Got through an hour of that podcast, but have yet to hear a single devil's advocate point being made. I turned it off when they said hey isn't it great that we can have these NFT generating games where people in the Philippines can make a living playing the game by grinding and monotonously playing for 16 hours a day? We already had that in 2004 with WoW gold farmers in China - it resulted in people being kept as slaves by criminal organizations.
The first hour of that podcast was "Hey, here's an existing feature of the internet that's existed since Web 1.0, but if we add blockchain technology and decentralize it, it becomes amazing and will solve all the world's problems!" For example - the idea of authors selling their work online. Great - that's been possible since the dawn of the internet. I wouldn't call it Web 3.0, maybe 2.0 as part of the wave of things like Patreon, Etsy, etc.
If it wasn't taking existing ideas, but adding blockchain, then it was things that just make no practical sense. "Wouldn't it be great if all the Uber drivers collectively owned Uber?" Well, in some ways yes, some ways no. It's great they don't have to listen to some corporate fat cats sitting in San Francisco or New York or wherever, but also - what happens the first time you have to make a decision on behalf of everyone? How do you or I as riders trust drivers with no oversight or vetting from a top down leadership structure? It's just impractical. Co-ops work because they're small scale groups of likeminded individuals.
Maybe later on in the podcast they offer some more contrasting viewpoints, but so far I haven't heard anything other than Web 3.0 evangelism. It does offer a good explanation of what Web 3.0 is, as described by people 1000% bought in.
How do I mine with my computer? It's beefy and any little crappy mining rig isn't gonna touch what I could do with my own. Do I just need the radio transmitter?
