As soon as you start talking about your Helium network to a potential new partner, they will have a lot of questions, especially if you do not know them well. This is an example of an FAQ you can edit and use to explain the Helium network you are building to new partners.
(name of ) Helium Network
Your name, phone, email
Summary
We are building a Helium network in the Kenwood area to mine cryptocurrency, split 50/50 with partners who supply a location with WiFi.
Here is how it works: We put a small box (6×6 inches) called a node or Hotspot, plug it into a power outlet and run a cable and antenna to the roof. The node is a small pre-configured computer, without a screen or keyboard. It starts mining a crypto Currency called HNT.
The Helium hotspot awards tokens for proof of coverage, “witnessing” the signals from other nearby antennas.
Most hotspots in our area don’t do well because they are isolated with no one to talk to. Urban areas or intentional networks do better but can lose earnings because the hotspots are too close together. Hence, building an optimized network with partners.
How much can you earn
It’s always the best guess. The antenna on the roof of my two-story house – about 30’ up – at 2544 2nd Av N earns about 30 a month day. It has no one to talk to.
Taller buildings in a grid with multiple hotspots can earn 5 to 20. But really, no one knows for sure how the network will behave.
We use a software program to optimize the locations.
What is Helium
Helium is a private company that opened in 2012, that is building a “people-powered” wifi network – essentially thousands of people who put a wifi hotspot in their home or business, incentivized by tokens. They raised $53 million and have about 177,000 hotspots in the U.S. as of September 15, 2021, with 200,000 more on back order.
They have about 50 commercial customers as yet, who use the network to send data for anything with a sensor – dog collars, air quality, agriculture, and so on. The wifi network is literally 100x much cheaper than alternative sources, and they have big plans.
HNT’s trades at around $10 to $26 – it’s around $23 today could go back down, it could go to $100. Don’t count on anything. It mints 2.5 million HNT a month, with that number going down every 4 years during the “halving.” The next one is in 2025.
What is cryptocurrency?
Cryptocurrency is a digital currency, like Bitcoin, which Square, Paypal, and other large institutional investors are all now investing in. HNT’s trade like stocks but on a crypto exchange Binance.us. You can track this here.
Why does Helium give away tokens?
The tokens are a given-away to incentivize people to build the wifi network which is their asset, and also in return for transmitting IoT data.
How much power does it use (will it affect the electric bill)?
The power use is negligible – about the same as an LED light bulb. However, the data flow can get up to 10GB in some cities, that is not the case here, but you want your wifi to be solid.
How do you get paid?
You have a couple of options. The preferred method is to set up a Binance wallet, I’ll transfer the coins and a regular basis, and you cash out on your own (I have the click-by-click instructions to show you how to do this).
Alternatively, let me know your pay-out dates, and I’ll sell them and transfer the cash. It takes a couple of days.
Can’t I just buy tokens?
Yep, but mining is free.
What if I move, don’t want it anymore, and is there a contract?
If you move or don’t want it, the tokens earned are still yours. The box belongs to me. If it breaks, I’ll pick it up and fix it, if I can.
Is there a contract
There is a simple contract on docusign. You confirm you will keep the box on the wifi and plugged in, and allow access if it goes down for some reason. The box may be relocated if it is not performing, or the area gets too crowded with hotspots, but your tokens belong to you in perpetuity, no matter what happens to the box. Helium is designed like a game, so sometimes a Hotspot needs to be moved to start earning.
Who is Alisa Cromer and how did she get involved in this?
I’m a small real estate investor in the Kenwood area. I also publish LocalMediaInsider, and am the founder of Teachbeach.com, a SAAS platform for experts to earn by becoming instructors. As part of that project, we started Cryptopro.cafe, which is how I got interested in mining Helium.
Why Helium and not something else?
Here’s what I liked:
- The company is super solid, well-financed, well run.
- The boxes are easy to install and tokens tracked on an app on my phone (other mining requires software, and more instruction and steps).
- The currency will be attached to a real product, ie the wifi network, not just “shortage” based value.
- Sensors tracking data and the Internet of Things is a growth sector.
- Tokens mined have increased in value from 0 to $24 in about one year.
- Low risk. If it all goes up in smoke, it’s still ok.
What’s the downside?
Eventually, there will be more hotspots, so fewer tokens mined per hotspot, although, theoretically, the price of HNT’s should also go up.
There will be other kinds of alternative wifi networks. The algorithm of mining is determined by Helium and is somewhat secretive. Cryptocurrencies are volatile. The cryptocurrency market may be regulated one day. The box in your house has the potential to spy on your wifi usage, but then so is your phone, current wifi, and browsing history. Helium may never land the major deals that would send tokens to $100. There are some unscrupulous crypto players and any major scandal could tank the market temporarily. Something could happen to Bitcoin and crash all the markets. The antenna could go down in a storm. Ok, that’s all the bad news I can think of.
How do we get started?
First, we talk, so you have all of your questions answered. We assess the location. Typically, I’ll bring a guy from Mr. Gadget’s Smart Home Solutions. Their background is in cable. So we all figure it out.
Then we set a date for the installation. Typically, it requires some work, minimally mounting the antenna. At 2641, we installed an extra electrical outlet, so the miner can plug into power in a location where the cable could reach the roof. Also, they have a homeowners’ association, so we had to install separate wifi just for the node.
Can I do this myself?
Sure you can. However, a box is $450, back-ordered of 2 to 6 months in some cases, and you have my team of installers. The network also helps each of our boxes perform better since placement is optimized for and with the partners. That is, the next hotspot we place will be with a clear view antenna and in a position to communicate with yours.