Ok. the big question for me maybe trivial for everyone else. i’ve got 1500.00 USD im totally new and i find all of this so fascinating, where do I start as a hobby and not waste all my money? I appreciate any help this group would be willing to give. Thank you very much!
The easiest way and the cheapest would be mining Helium. You could receive a ‘no-cost’ miner from a group (ie iHub) to begin. You’re only receive 20% of the rev, but use that as a learning experience while you order and receive your Bobcat (about 5 months). You’ll experience the “magic” of mining. Secondly invest $500 into crypto coins to learn about wallets and exchanges. It’s important. Thirdly take the remaining $500 and treat your wife to a nice dinner (or 2) to keep her happy while you venture into your new hobby
I am new to Crypto as well, been in just under a year. So, my best novice advice is dive deep into research by learning the terminology, watching lots of videos, and asking questions. Look at break even times before purchasing and realize everything can and will change as Crypto can be and is volatile.
Miner wise, my best advice as being new myself is start with an easy miner like an asic miner that is low in power consumption and cost. Goldshell.com offers several box miners low in wattage and noise that will help you get started near your pricepoint. They can run on normal 110/120v with no changes to your house electrical needed. Asicminervalue.com is a great site to look at efficiency, and estimated profits. This is important, you don’t want a miner that you paid scalper prices for that takes 2 years before you even break even and start a profit.
And…before ordering any equipment at all, and I stress this greatly…make sure it is a reputable vendor/site! There are so many posts of people getting scammed it’s crazy. If you’re not sure after researching, ask here about a vendor, check reviews. If it’s too true to be good then there’s your answer. Don’t just go off how the website looks. Some scam sites will change a letter or 2 of the url and then they have your money.
Not trying to scare you, just a warning to be careful and diligent on your research. This is a great forum with a lot of knowledge, someone here can most likely always tell you if it is a scam or not. There is a great opportunity to be profitable, just do your research! And, last thing I’ll say is to stay current, don’t just stop researching or looking at videos and forums once you start… prices change, profitability changes, and new things come up every day.
Good luck, stay with it, and help out new people in the space!
I did the start up thing 6 weeks ago, made first purchase on HNT with Bobcat only to learn that $650 spend was not going to get here until Feb 2022.
So ebay I went. I over purchased on HNT miners in numbers and cost both. I see now it is useless to have more than one in the same wallet and same hex space and expect the 1.0 transmit scale. I thought my friends would allow a miner at their homes but they were not as excited to venture into this rabbit hole. So now I need to sell off my extra HNT hardware and buy some ASIC to try.
So forum reading and more reading. You will have to get on this DisCord channel thing. I dont even do FaceBook and I never so IG… so this DisCord thing is just boring to read.
I will send you a DM on my extra Bobcat I have if you are interested in getting into HNT.
Like everyone is saying read, read, read, and then read some more, or listen. A lot of pretty crazy rabbit holes to watch for, and SCAMMERS, the only people making money in this space are all over the place so please be careful.
I would be interested in 1 or 2 of the Bobcat miners if you still any available. Please DM me and let me know. Thanks.
ok that’s funny right there!
im also in a VERY rural location and mine would be the only one around. but i im a lot of acreage and 1 gig of internet service and have towers i can run antenas to. So i was thinking 2 HNT miners? thoughts?
You have to keep in mind that to be effective and max your earnings, the units need to be a minimum of 300m apart or more. Proof of coverage works 2 ways. Your miner needs to be able to witness other miner beacons as well as reach other miners when yours sends a beacon. If they are too close they will be invalidated based on the signal strength. It’s not as complicated as it sounds. So even if you order 2 units (which I would encourage), I would set only one at your primary location and the second even 1 km apart (depending on line of sight or flat terrain).
Dont put 2 on the same IP address… I did… one is now invalidated. Still makes Beacons… but earning is like .001 seems like. Of course as of yesterday all HNT is Zero anyway.