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

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

#251

Post by muro »

JumpCrisscross wrote: post #203
muro wrote: post #100

Earlier quoted context omitted.

Why is worst case a bad outcome? It's all a scam and if people invest in it or propagate it, they shouldn't expect anything else.

> Why is worst case a bad outcome? It's all a scam and if people invest in it or propagate it, they shouldn't expect anything else The damage is already done. Either our laws were broken, and there will be more misery. Or our laws were not and they'll need to be revised. Even if justified, misery is misery. It's a worse outcome than customers getting their money back and nobody going to jail.

I'm not sure. The value turned out to be less than investors imagined and so they are going to lose money, there is no way they get their money back. As for those that caused it, if it's a ponzi scheme, as many said before, why would prosecution be a bad outcome?

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

#252

Post by CPLX »

sumoboy wrote: post #228

The passive income for hotspot owners prior to Aug, 2021 was very real, many cases thousands per month for a single hotspot. The HNT coin price was much higher also hitting near $50 creating this incredible hope of easy money and for the early players who could get a hotspot they banked. Then Helium halved the coin in Aug/21 and it's been a downward spiral of HNT prices and software updates. The people who made $$ we…

Yeah but nobody actually "made" any money.

To the extent anyone engaged with this project and walked away with real live American dollars they came from either VC investors, or greater fool token investors.

That's the whole point of the article. Ostensibly the project exists to provide a valuable service, that's what is supposed to create the rewards. But that ain't real.

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

#253

Post by spaceman_2020 »

HWR_14 wrote: post #162
spaceman_2020 wrote: post #130

Earlier quoted context omitted.

Pretty much - no “long term” passive investment in crypto. Its a casino, but one with extremely good odds for players if you time it right.

As I understand it, either you're good at timing the market or you got lucky. If you got lucky, there's no reason to be so cocky. If you are good at timing the market why aren't you making a fortune on Wall Street? (Unless you are making a fortune on Wall Street)

There's no need to time the market when the market is flooded with cash. You didn't need to be smart or even lucky to make money on practically anything in late 2020-mid 2021.

The trick is knowing when to get out. And for that, simply managing your greed is enough.

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

#254

Post by aaaaaaaaata »

snarf21 wrote: post #214
aaaaaaaaata wrote: post #183

Earlier quoted context omitted.

GameStop NFT did $2M the first day. Maybe everyone just doesn't know where the volume is? https://news.ycombinator.com/item?id=32238127

GameStop is a meme. It isn't the whole market.

All of their hires by the guy that founded Chewy is a meme?

You're misinformed. Which is honestly fair, lots of disinfo on both sides of this fence.

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

#255

Post by spaceman_2020 »

cuteboy19 wrote: post #194
spaceman_2020 wrote: post #101

Earlier quoted context omitted.

I turned 10k into 300k without doing any of the above in 6 months. You need to fight your biases.

Crypto is zero sum. For you to get 300k someone else got a loss of 300k.

Correction: for me to get 300k, many people had to aggregate 300k of losses across many different projects.

You make it sound like the market is two participants - me and the guy I took 300k from.

In reality, the market is broad as well as deep. You can lose $10 on one project, make $20 on another, and come out with $10 profit overall. Someone else can reverse that trade and come out with $10 profit as well.

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

#256

Post by aaaaaaaaata »

jacquesm wrote: post #242
headsoup wrote: post #143

Earlier quoted context omitted.

You still would have given that same gift when Bitcoin was over $50K?

Yes, that's exactly what I did. And as for virtue signalling, (see sibling comment) I really don't care what you or others think about that.

So we're all on the same page: You gave away multiple BTC @ > $50kUSD/ea?

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

#258

Post by TomSwirly »

swamp40 wrote: post #248
olsonjeffery wrote: post #206

Earlier quoted context omitted.

>Personally, I think the government should subsidize something like this to allow it to get off the ground. Earthquake data, climate data, traffic data, etc. Essentially public use. Literally the exact opposite of what web3 is. You're arguing for a _public good_, but web3's entire premise only makes sense when the opposite happens: everything is privatized, everything is monetized. THIS is the world that web3 makers…

Crypto is the payment method for this service. It's not an essential element, and there is much more to it. I'm not exactly sure where your definition of 'web3' and crypto overlap, but there are many future public use cases for crypto. Banking the unbanked, protection against hyperinflation, etc. Maybe 10+ years away, but it will happen.

> Banking the unbanked

I first heard this line eight years ago and so far this hasn't happened.

If you are unbanked, it's because you have little money, and you want to put it into something stable and something where you are protected - in other words, the exact opposite of cryptocurrencies.

> protection against hyperinflation,

In 2022, cryptocurrencies have experienced over 100% inflation. Your one bitcoin today will buy less than half the goods and services it would have half a year ago.

Cryptocurrencies are almost as old as the smartphone. You can't keep promising something useful and never delivering, forever.

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

#259

Post by pfraze »

spaceman_2020 wrote: post #26
pg_bot wrote: post #11

Earlier quoted context omitted.

Every single one of these web3 companies is going bust. They could all be built without tokens or a blockchain if they wanted to. There are only two things propping up the entire crypto economy, VC funding and fraud. Once the VC money leaves the ecosystem the dominoes will fall.

The older protocols that were built in the depth of 2018-19 bear markets will survive. Many of them are also doing wonderfully well in terms of revenue. COMP, MKR, AAVE, CRV all make a ton in revenue and have a well-defined product-market fit. Crypto projects are tough to value. Their sheer global scale means that they can ramp up revenue and even profits extremely fast. StepN, a move-to-earn app reportedly made $120…

StepN sounds like a ponzi scheme with extra steps.

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

#260

Post by pontifier »

I may be one of the rare ones, but I'm late to the game, and am trying to set up a bunch of sensors. The biggest problem I have is that I can't get my sensors to work.

There is so much talk and focus on miners, but they need more cheap, easy to use, and functional sensors.

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