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> Helium literally never did an ICO. They clearly have some sort of central issuance because they have an airdrop. Their “proof” mechanism is either centralize

by wyager 5y ago

> Helium literally never did an ICO. They clearly have some sort of central issuance because they have an airdrop. Their “proof” mechanism is either centralized or Sybil vulnerable - haven’t bothered checking which. > So funny watching bitter losers at hackernews get everything about blockchain wrong and stay poor over the past 10 years. This is a hilariously off-the-mark shot. I have nothing against blockchain when used where it’s actually useful (I.e. for solving double-spend or zooko). This, however, seems like a silly misapplication. > Throw in some buzzwords you don't really understand like "lightning" I think you did not understand what I said, which is that payment for network services should use normal payment mechanisms instead of special ones.

delabay 5y ago
> Silly misapplication 200k operators climbing their roof to deploy beneficial coverage beg to differ
- wyager 5y ago
  Probably not many, if any, of them understand the technology at any level deep enough to comprehend why it’s a dumb idea. 200k people getting caught up in an altcoin scam is hardly new.
  - delabay 5y ago
    Yet helium solved Lorawan coverage in spite of it all :)
joewadcan 5y ago
Helium fan here. I think a deeper dive is warranted on what and how they are "paying" people. Helium tokens are used as an incentive to bootstrap a network, but in the future part of payment for network services like you mentioned. I think this is one of the purest uses of crypto... less as currency replacement but more sharing in a network's future.
- lozaning 5y ago
  The helium company charges miner manufacturing partners $40 a unit in order to generate the required private keys for their miners to be able to join the network. As soon as I found out I couldn't stand up my own DIY helium miner and start providing coverage and making money I became entirely disinterested.
  - delabay 5y ago
    With DIY they couldn't insure the security of participants. The temptation is too hight to create 100s of cloud miners. That said, there are 50 HW manufacturers queued up to supply. Incorporating Helium into an existing Lora framework is very easy. In fact, Helium is seeing an interesting phenomena where the PoC mining tech is becoming bundled with existing HW platforms because the material costs are so cheap. Projects are now bootstrapping on top of Helium.
    - syedkarim 5y ago
      I think the issue is with the $40 fee. Why not $1, or $5?
      - delabay 5y ago
        Onboarding fees maintain a buy-side for the network token until true network utilization catches up. The original article is an example of network utilization literally catching up. How did they arrive at $40 I'm not too sure. It seems like a moderate amount?
    - lozaning 5y ago
      Then it sure sounds like what they have is a proof of private keys algo, and not a proof of coverage algo. In which case why bother with a blockchain at all if there's a singular central entity that is the arbiter of all trust?
      - delabay 5y ago
heyrhett 5y ago
Please explain how one uses blockchain to solve a zooko. > I have nothing against blockchain when used where it’s actually useful (I.e. for solving double-spend or zooko).
- wyager 5y ago
  Namecoin

by wyager 5y ago

delabay 5y ago

> Silly misapplication 200k operators climbing their roof to deploy beneficial coverage beg to differ

wyager 5y ago
Probably not many, if any, of them understand the technology at any level deep enough to comprehend why it’s a dumb idea. 200k people getting caught up in an altcoin scam is hardly new.
- delabay 5y ago
  Yet helium solved Lorawan coverage in spite of it all :)

joewadcan 5y ago

Helium fan here. I think a deeper dive is warranted on what and how they are "paying" people. Helium tokens are used as an incentive to bootstrap a network, but in the future part of payment for network services like you mentioned. I think this is one of the purest uses of crypto... less as currency replacement but more sharing in a network's future.

lozaning 5y ago
The helium company charges miner manufacturing partners $40 a unit in order to generate the required private keys for their miners to be able to join the network. As soon as I found out I couldn't stand up my own DIY helium miner and start providing coverage and making money I became entirely disinterested.
- delabay 5y ago
  With DIY they couldn't insure the security of participants. The temptation is too hight to create 100s of cloud miners. That said, there are 50 HW manufacturers queued up to supply. Incorporating Helium into an existing Lora framework is very easy. In fact, Helium is seeing an interesting phenomena where the PoC mining tech is becoming bundled with existing HW platforms because the material costs are so cheap. Projects are now bootstrapping on top of Helium.
  - syedkarim 5y ago
    I think the issue is with the $40 fee. Why not $1, or $5?
    - delabay 5y ago
      Onboarding fees maintain a buy-side for the network token until true network utilization catches up. The original article is an example of network utilization literally catching up. How did they arrive at $40 I'm not too sure. It seems like a moderate amount?
  - lozaning 5y ago
    Then it sure sounds like what they have is a proof of private keys algo, and not a proof of coverage algo. In which case why bother with a blockchain at all if there's a singular central entity that is the arbiter of all trust?
    - delabay 5y ago

heyrhett 5y ago

Please explain how one uses blockchain to solve a zooko. > I have nothing against blockchain when used where it’s actually useful (I.e. for solving double-spend or zooko).

wyager 5y ago
Namecoin