Helium has revenues of $6.5k/month after $365M investment from A16Z • Hacker News Board

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#101

Post by spaceman_2020 » Tue, Jul 26, 2022, 11:00 AM UTC

threeseed wrote: post #85

spaceman_2020 wrote: post #30

Earlier quoted context omitted.

web3 is going to thrive whether you like it or not. Primarily because of three reasons: - Greed. Its absurdly easy to make a ton of money very fast in crypto. As long as that's possible, money will keep pouring into the system. - Gambling. The global gambling industry is half a trillion every year. Even if you think crypto has no fundamentals and is akin to gambling, it still represents a massive market. Opening a 50…

> Its absurdly easy to make a ton of money very fast in crypto At least right now mainly be doing something illegal e.g. scamming, rug pulling, insider trading. SEC and other regulators may be late to the party but are starting to put people in jail for this fast and easy money.

I turned 10k into 300k without doing any of the above in 6 months.

You need to fight your biases.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#102

Post by spaceman_2020 » Tue, Jul 26, 2022, 11:01 AM UTC

arcticbull wrote: post #50

spaceman_2020 wrote: post #30

Earlier quoted context omitted.

web3 is going to thrive whether you like it or not. Primarily because of three reasons: - Greed. Its absurdly easy to make a ton of money very fast in crypto. As long as that's possible, money will keep pouring into the system. - Gambling. The global gambling industry is half a trillion every year. Even if you think crypto has no fundamentals and is akin to gambling, it still represents a massive market. Opening a 50…

> If "web2" hadn't shut off its own users from any semblance of ownership in the platforms, or had done more for privacy, web3 would have died in 2017. Honestly nobody cares about these things. This is just a narrative that was grafted onto Web3 after the fact.

the users never care

The builders do

If you’re in the tech field and aren’t worried about privacy, the. I don’t even know what to tell you.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#103

Post by pjdkoch » Tue, Jul 26, 2022, 11:03 AM UTC

spaceman_2020 wrote: post #5

Look into SoRare’s volume. They raised over $500m. Volume is now lower than it was way back in 2020. The crypto down rounds are going to be hilarious. Note to investors: if you’re investing in crypto projects, carefully consider the ponzinomics and the vesting schedule. You want your unlocks to happen in the middle of the bullrun when exit liquidity is ample. And also remember that whatever you might think of as “nor…

No post body was provided.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#104

Post by barnabee » Tue, Jul 26, 2022, 11:05 AM UTC

tradertef wrote: post #10

Canada wrote: post #2

Helium is a terrible use case for cryptocurrency. Cryptocurrency is for money, only for money, and not for any other purpose.

Agree. The amount of spectrum they use for their application is so small (15 MHz?) that there is really no good use-case that can not be addressed by cellular or Wi-Fi. Helium is just a toy project with good marketing. It is really a scam.

LoRa makes a lot of sense. Whether Helium can make a lot of sense as a way to deliver LoRa connectivity remains to be seen, but it's certainly not true that there's no good use case for the underlying tech or that WiFI and cellular cover all such use cases just as well.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#105

Post by davidguetta » Tue, Jul 26, 2022, 11:10 AM UTC

pembrook wrote: post #69

buf wrote: post #27

I bought ETH when it was $7 back in 2017 and participated in literally every single investment I could until about 2019, resulting in 7 figure returns. I wouldn't touch the stuff now. The ability for regular people to invest in crypto back then made the ponzi-like architecture of it worth the risk. Now the VCs are trying to push their agendas, and it's blatantly obvious it's vapor.

Wait...what? You’re complaining about VCs pushing vapor while simultaneously admitting you participated in pumping “ponzi-like” schemes on regular people? You do realize those 7 figure returns you made were a direct wealth transfer from later-stage victims of the ponzi to you? I’m astonished you’re claiming moral superiority over VCs while sitting on wealth you took from thousands of poor people in places like Vietna…

Early investors were excited by the technology, not the promise of quick gains and speculation, like VC nowadays.. that probably where his "superiori moral", provided he meant it that way which I doubt, are.

A lot of people think crypto are plain useless but that is just wrong in practice. They are de facto actual "currency", which is already a lot especially for people in third world countries whose national currencies have gone down relatively to the dollar (venezuela, lebanon, turkey). Any of these people have been better off investing in crypto than in their local banks. It's diversification.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#106

Post by Someone » Tue, Jul 26, 2022, 11:10 AM UTC

bobnamob wrote: post #90

thematrixturtle wrote: post #87

Earlier quoted context omitted.

Unfortunately in the crypto winter, crypto shovel sellers like Coinbase are doing quite badly as well.

I think you need to go a layer or two deeper to find the shovel vendors, maybe those selling compute?

Nvidia and AMD sold quite a few GPUs to crypto miners.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#107

Post by [deleted] » Tue, Jul 26, 2022, 11:11 AM UTC

pembrook wrote: post #79

jacquesm wrote: post #72

Earlier quoted context omitted.

Not sure about Ether, but there are plenty of people that 'bought in' to the Bitcoin idea and mined some coins early on without 'taking wealth from others'. VCs are in there for entirely different reasons, and 'later stage investors' are always at risk of having their hair cut if what they invest in isn't worth what they paid for it, after all, they too were trying to take money from later day suckers. I never paid a…

The miners absolutely are taking wealth from others—-I can’t believe I’m getting sincere pushback about this. The entire value of the Bitcoin you mined came from later stage “investors” in Bitcoin.

[deleted]

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#108

Post by davidguetta » Tue, Jul 26, 2022, 11:12 AM UTC

thematrixturtle wrote: post #86

jacquesm wrote: post #72

Earlier quoted context omitted.

Not sure about Ether, but there are plenty of people that 'bought in' to the Bitcoin idea and mined some coins early on without 'taking wealth from others'. VCs are in there for entirely different reasons, and 'later stage investors' are always at risk of having their hair cut if what they invest in isn't worth what they paid for it, after all, they too were trying to take money from later day suckers. I never paid a…

Crypto is a closed economy. The only way to get USD out is by taking that USD ("wealth") from somebody else who is buying in.

But this is true for any currency

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#109

Post by thematrixturtle » Tue, Jul 26, 2022, 11:13 AM UTC

bobnamob wrote: post #90

thematrixturtle wrote: post #87

Earlier quoted context omitted.

Unfortunately in the crypto winter, crypto shovel sellers like Coinbase are doing quite badly as well.

I think you need to go a layer or two deeper to find the shovel vendors, maybe those selling compute?

People using stolen credentials to mine crypto on cloud GPUs is a huge hassle/financial loss for cloud vendors.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#110

Post by z9znz » Tue, Jul 26, 2022, 11:14 AM UTC

arcticbull wrote: post #46

ackbar03 wrote: post #14

Earlier quoted context omitted.

Yet some VCs are still plowing into web3. There was an article today about how Moellis was getting into Web3 companies. I'm genuinely curious what their thought process is. I tend to be in the camp that web3 is just a bunch of hot air seeing how cryptos been around for quite a while now with few use cases, but I also give benefit of the doubt there could be something there given the nature of tech.

> I'm genuinely curious what their thought process is. The thought process for VCs investing in crypto is simple: they get a huge discount on the tokens in the raise that they can turn around and dump on retail a few months later for huge returns. Instead of waiting 10+ years for a traditional exit, they can get liquidity in a few months. As Chamath admitted on the podcast, even when they're on a vesting schedule the…

This is basically the same equation if you replace "crypto" with "startup".

The multiple investment rounds followed by eventual IPO is typically just a legal ponzi scheme.