Helium Balloon

HNT Mining for free (there is a catch :))


Just got my free Emrit miner for HNT coin on Friday, it's Sunday now and I'm kind of iffy that it hasn't produced any HNT coins yet. I was just reflecting on the parabolic price rise of the HNT token. It had been around 4 $ when I ordered the Emrit miner and now it has jumped to almost 10$ in the space of just 3 weeks.

Crypto investing and mining fascinates me. Having been investing in stocks and bonds for over a decade I'm surprised how quickly a whole ecosystem has developed around crypto, given that it's so risky and volatile. There is a whole group of financial instruments available, to mirror the ones available for the equities markets, things like options features and peer to peer lending. There are now more and more alt coins out there and newer and newer methods of mining, even ones that are environmentally friendly like HNT mining. I'm currently in testing mode with my HNT miner and will report more once I get more savvy around the ins and outs of Helium mining and staking. A friend of mine and I were talking for 2 hours on the phone the other day getting excited on the prospect of making hundreds of thousands of dollars on HNT. We were using a website to check how much our neighbors are making, you need other Helium (HNT coin) miners to verify your blocks so that you can mine and be efficient at it. Some of the neighbors were making over 400K$ a year with 1 single device that you plug and never touch for a year. If that's not passive income I don't know what is. I consider myself a very risk averse person and ordered the Emrit miner just because there was no fee and no shipment cost. I didn't want to buy a miner for hundreds of dollars on helium.com only to discover that despite my wealthy neighbors I can't mine an enviable amount of HNT coin. So what's the catch?! Why would anyone mail you a device that can potentially generate hundreds of thousands of dollars of HNT coin for free? As Emrit puts it you get 20% of the coins mined, which is another way to say they keep 80% of the coins mined. You can ship the miner back at any time for free, and I intend to do that in 2 cases: If I earn to much or too little. In the middle ground case where I would earn a couple of hundred dollars I would keep it just to avoid the hassle of returning and then buying a miner that would need a year to pay itself off. I also heard that the amount of HNT coins that can be mined would be halved this year 2021 and that would make mining even less profitable.

So until the next post, wish me luck. Hopefully my miner will be awake and keep mining while I sleep tonight and get me out of the rat race.  Wishful thinking or reality like my neighbor with a catchy miner name Able Wild Koala.  


Silicon Valley Tiger Dad

How do you rate this article?



Family and Finance blog in Silicon Valley

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.