Good morning
As you may well be aware we have been quite invested in Helium, you may also be aware that the Helium token is not doing so great at the moment.
This is probably why when news was coming out about a new project using Helium hotspots but offering better rewards a lot of people were prepared to pay for a license to use the IO5 network. This license is supposed to let you use the IO5 network with your Helium hotspot.
You would buy the license, tie a BTC address to your account for your rewards to be paid in Bitcoin and they would beacon your hotspot to activate it. No phsical changes needed.
There was also a you tube video about IO5 and how the first 1500 people who buy a license for $50 would get a set bonus of $28. The daily rewards looked really good at $12.00 per day for the first 5 months. I did have a 'this is too good to be true' moment but Heliums rewards at the begining were good so i did not instantly dismiss it.
To be honest i was really tempted and had a bit of a FOMO moment, it has been a rough couple of weeks and it would have been nice to get a win.
So i thought NO, do your research i mean the chance of being in the first 1500 was probably 0% as it was gaining traction really quickly. Firstly Discord was very active but i was not convinced. A few basic google searches threw up literally nothing which I thought was a bit strange. The Helium mining facebook page had a few people talking about IO5 but when asking questions, i got some pretty evasive answers like 'their discord is good'. The alarm bells were definately ringing.
Well, it looks as though the company named IO5 is not actually IO5. The true company IO5 is another company all together and have nothing to do with Using hotspots.
People have paid for a license that they have not got and although some people have recieved some rewards it is nowhere near what was originally stated by IO5. I guess the theory is that if they pay out some rewards more people will buy in.
I can totally understand why so many people are buying into this, the timing is just right as a lot of people are dissapointed with Helium, the token price and the move to Solana.
I am not saying this is a scam project but it is looking a bit fishy if you ask me so i am not going for it. Time will tell if i made the right call.
As always, thank you for reading and please feel free to comment
