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I follow a Facebook page for Helium miners in the UK, because a family member was interested in getting involved and I said I would check it out first. I recomm
by bArray 4y ago
I follow a Facebook page for Helium miners in the UK, because a family member was interested in getting involved and I said I would check it out first. I recommended against it (as I do with all crypto 'investments').
I observed it going "well", with people boasting massive return on investment. I then saw their profits drop, with software updates and faulty equipment being blamed. As a result, people went out and purchased new and more expensive equipment, many buying ludicrously expensive support equipment to improve signal properties. After quite some time of this, I then saw their revenue drop even more so.
Many of these people are invested several thousand pounds (multiple miners, multiple types of miners and support equipment). I see fewer and fewer people post now, with many now accepting their loss.
There is a real cost here, and as per usual, it is the people least able to afford it that pay it.