Hello, I intrigued with this thing called Helium miner, and similar Bobcat miner. Does any one know the ins and outs of this. I read online and it doesn't make sense to me how and why it works. Can any one share their experience please. Thank you.

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Basically the idea is that Helium is trying to create a network of hotspots which provide internet access to iOT devices. loRAN is the technology behind it. The general idea is that this is for devices which do not have high bandwidth needs but do need connectivity at ranges outside what WiFi can typically offer. It's competing somewhat with cellular based iOT connectivity, but aims to offer a cheaper alternative to full 4G or 5G connectivity in cases where that kind of power or bandwidth is not needed.

Some real world examples of devices that already operate on this are GPS trackers for trucking vehicles and connected mouse traps that phone back when they've made a catch.

Rather than purchase a lot of infrastructure to make this network work, they've come up with a scheme of rewarding individuals who host a hotspot (miner) with HNT tokens (the helium cryptocurrency) for operating them. At the present time hotspots provide HNT mining rewards by having their hotspot witness and be witnessed by other hotspots on the network as well as when data is actually used on their specific hotspot. HNT can be traded like any other crypto token, or turned into data credits which are used by the network to provide services.

To discourage over saturating an area with hotspots each section of the world is broken into a hex grid and the rewards for being witnessed or witnessing others are reduced by how many other miners share your particular geographic area. To get the most out of a helium miner you ideally want to be in an area where you can put up an antenna and 'see' lots of other hotspots but also not be oversaturated with other hotspots in your grid.

My helium miner is not exactly in an ideal spot and only typically 'sees' 1-4 other miners; but I still make on average about $1.5-2 a day in HNT from it with negligible electricity costs.

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