Please clue me in about Helium Mining - Page 1
Forum section: electronics / general

author: DC1MC
author_rank: Super Contributor
timestamp: February 19, 2022, 03:02:29 pm
content: Is it a scam to sell the equipment, does it actually work, experiences in Germany ( I see a lot of devices available on Kleinanzeigen), what about it ?Cheers,DC1MC

author: aseok
author_rank: Contributor
timestamp: February 19, 2022, 03:38:59 pm
content: HiBeside of intentions behind the idea or whether it be a scam or not, According to a claim in reddit, registering a non commercial device to network should be provided a year ago. but it hasn't happen yet.

author: NiHaoMike
author_rank: Super Contributor
timestamp: February 19, 2022, 03:56:55 pm
content: It's "mined" by hosting a wireless network. It's a little like "Fon" from a long time ago. While the idea is great, the organization behind it has gotten too greedy making it hard to profit.What we need is something similar that's decentralized, in other words cut out the (greedy) middleman.

author: ataradov
author_rank: Super Contributor
timestamp: February 19, 2022, 05:54:30 pm
content: It is a scam, of course. They were moderately successful wireless provider, but before that they had to pay people to install their hardware. Afer jumping on that crypto bandwagon and strategically providing fake potential income numbers, they can't produce equipment fast enough to sell to suckers.This is a perfect example where "crypto" is not needed. What they have is a plain old loyalty program. You can earn points by hosting the network and passing the data, you spend points by sending your own data. But loyalty programs is 70s, it is not Web 3.0, so hard to make gullible idiots interested in it. LOL.Also, potential earnings they advertise are all in heavily trafficked areas. If you live in the middle of nowhere, your best way to profit from it is to sell the equipment to the next sucker.

author: Gyro
author_rank: Super Contributor
timestamp: February 19, 2022, 08:18:52 pm
content: Damn, I was just going to go off on a rant about Helium being a finite mined resource, being increasingly vital for MRIs etc. and people still wasting it on party balloons.

author: Someone
author_rank: Super Contributor
timestamp: February 19, 2022, 11:16:05 pm
content: Quote from: Gyro on February 19, 2022, 08:18:52 pmPosts in general forum, expects users to have knowledge of niche Blockchain applications. lolHelium mining is a thing, people intercept a natural gas source that has "high" amounts of helium in it, then extract that valuable component with traditional fractionation (entirely familiar to the fossil fuel industry that is extracting the natural gas). Analogous to "regular" mining and extraction from ore. But seems some crypto bunch wanted to misappropriate the term.

author: Gyro
author_rank: Super Contributor
timestamp: February 20, 2022, 01:36:14 pm
content: Yes, I knew it was an underground resource, the thing that surprises me is that it didn't all percolate to the surface and disappear to space Millions of years ago. Ithinkit's a natural radioactivity decay product though, so there is maybe there is still some ongoing creation. I hadn't realised that it came up with fossil fuels, although it makes sense that it would accumulate in the tops of other gas reservoirs in the strata. I've never heard of it being a by-product of North Sea gas, maybe it only occurs in certain fields - I believe the US has the biggest stockpile.Sorry, OT but much more interesting than the original topic.Edit: I should have checked Wikipedia...https://en.wikipedia.org/wiki/Helium

author: Someone
author_rank: Super Contributor
timestamp: February 20, 2022, 09:24:50 pm
content: Quote from: Gyro on February 20, 2022, 01:36:14 pmLike oil and mining in general, there are lots of known sources but many of them are uneconomic to extract (at current commodity prices). If natural gas production starts declining then there will be even more upward pressure on helium pricing. The ex US strategic stockpile is a bizarre market force and has kept prices artificially low,Gas is a huge business right now although its not being put under the same "evil" branding as coal or oil. World energy extraction (2019):Oil190 EJCoal168 EJGas144 EJRenewables36 EJ (blurry, depends on accounting for burning of plants)Nuclear30 EJAt some point hydrogen will become so much cheaper that people will accept its flammability and start using it instead. Obligatory electrical reference:https://en.wikipedia.org/wiki/Hydrogen-cooled_turbo_generator

author: MathWizard
author_rank: Super Contributor
timestamp: February 27, 2022, 01:29:16 pm
content: As a gamer I hate cyrptominers, buying all our GPUs and helping make the prices go insanse again, like the early days of discrete GPUs.

author: NiHaoMike
author_rank: Super Contributor
timestamp: February 27, 2022, 02:36:45 pm
content: Quote from: MathWizard on February 27, 2022, 01:29:16 pmGood thing Helium doesn't use GPUs. I would like to see an energy efficient cryptocurrency succeed in the long run, I have mined many energy efficient cryptocurrencies over the years (mostly using cheap smartphones) but so far, none have achieved much popularity.