Turns out the answer to the question “whether or not a Helium Miner is worth it” is definitively no after this latest exposé by professional scam detective Coffeezilla. Stephen made notes on how miners have been in a death spiral of decreasing fees paid out to miners per month as data fees paid by new miners looking to enter the network were decreasing as fewer and fewer miners decided mining HNT was not worth it. The problem then was ultimately no one was using the network for its intended purpose of decentralized connectivity of IoT devices, therefore legitimate buying of HNT for non-mining purposes was as low as $6500 according to the report. This is a huge shock for the community paying upwards of $400 sometimes $800 to get these devices who saw ROIs plummet to 6 years instead of the 1-2 years investors were sold on. Of course all investments have a risk like building out a nationwide network, but Helium is rolling over this failure and going straight to 5G mining devices. Do they intend to offer cell service or sell to wireless carriers like Verizon and Cricket? Is there some other intended purpose for these new $2500 miners? Either way this one will not be making it to my house for an official Stoked Wallet review and I urge my readers to avoid Helium Network’s future products.
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