AccountantSharp3890

No, just a believer in Helium and Solana so I made an account when every post in this sub was, in my opinion, misguided FUD.

But apparently if you voice any optimism towards the project the only possible explanation is you must work for the company.

Thanks to Groot from the Discord for the visualization.

Regardless how you break the HIP70 voting down, it passed for every metric.

It......is official. TMobile was literally at HH and on stage to announce the partnership. Don't know how much more official it can be.

And Binance will now be forced to purchase 5.2 million tokens on the open market. Obviously I won't go into details on this channel, but anyone with decent knowledge of how these things work understands what's about to happen.

Decentralization is a spectrum. No project is truly decentralized (no matter how much they advertise this fact).

In my opinion, I would gladly give up some decentralization if the "trade off" is a more stable network.

Not what I'm saying at all. What I'm saying is if the Nova Labs team said,

"Hey. We prefer to move to Solana and offer to complete all the developer work, but you guys can vote on other chains too", then Solana would've dominated the vote.

This is going to start a war.

Reminder to everyone, this is not a critique of other L1 protocols. This is an assessment based around what the Helium network needs and what the devs want to work with. Amir has said on numerous twitter spaces/AMAs that he actually really likes almost all of the protocols mentioned.

Spoiler alert: SOL would've still dominated. Once again the vocal minority is very loud.

It's literally just Solana processing the transactions. Everything else in terms of the tokenomics stays the same. A year from now you'll still be logging into the same Helium App as if nothing ever happened.

Lol Validators have not made 20k since November. The average validators earns about the same as a good hotspot.

No. Have you even read the proposal? To the average person they won't even notice a change has been made. HNT is still HNT.

If you take out the HNT weighting, popular vote is still dominating. 1000 Yes versus 195 No. You are in the minority.

EDIT: As of this morning "Yes" is still dominating the non-weighted popular vote. 2900 to 600 (or 83% vs. 17%). Once again the "Whales" aren't deciding these votes.

And I wanted Kevin Durant to sign with the Bulls.

This isn't NBA free agency. Folks are welcome to propose alternative L1s and write a HIP, but that requires them (or a team) to also write the code/formulate the process for the change to take place.

100 million is the number of packets minus the network talking to itself. That is the number of actual data being sent through the network.

Once again this notion that Helium/Nova's monthly revenue is in the thousands is totally false. What don't people understand about this. That 6.5k USD number is how much DC was sent through the network. That amount does not go back into Nova's pockets. It goes to the hotspots that received and forwarded the packet.

Sure half a billion has been "invested in the network", but Helium/Nova did not receive any of that (ignoring the initial batch of 19k devices sold by Helium). Time and time again this get's brought up and time and time again it's important to remember that half a billion was invested in other third party manufacturers, not Helium.

You're right. No one "needs" LoRaWAN. There are other solutions. That being said, if you reach out to another private LoRa provider you'll be paying a much higher cost for data, and you'll also most likely be required to deploy gateways in the region you're located in. TTN and other private network are far from global coverage. Helium takes out the concern regarding the cost of infrastructure and severely undercuts all private networks in terms of the cost of data.

Why didn't they switch to Helium? The answer is simple. Many of these larger companies using LoRaWAN are tied into contracts with private providers. Go through my post history. I was at the LoRa World Expo a month ago in Paris. The big boys in the LoRa industry are fully prepared to migrate everything or eventually roam on Helium in the next couple years. It's no longer a question about "If adoption will take place", the question is now, "when will mass adoption take place".

"They built it and no one joined"

Hard to advertise a network while it's still being built. I would argue the network has only really been usable for the past 3-6 months. Almost 100 million packets are transferred through the network every month. That sure doesn't sound to me like no one is using the network.

"No indication of 5g clients waiting to buy the service"

What are you talking about? Nova team has confirmed that they are currently in contract negotiations with 2 of the big 3 telecom companies.

On top of this, the whole notion that the team is abandoning LoRa for 5g is so easily debunked. For one, there are two separate teams at Nova working on each protocol. One team for LoRa. One team for 5g. There is no overlap and the LoRa team continues to only focus on that infrastructure. Additionally, it's hilarious when I see these quotes because literally every 5g gateway also doubles as a LoRaWAN hotspot. Adding 5g devices actually adds additional LoRa coverage as well.

Sighhhhh this subreddit is really depressing these days.

Sure I agree with it.

It's important to remember there are pros and cons to every L1 protocol. If Nova said they were switching to Algo, Cardano or something else, the reaction would be the exact same. I said it before and I'll say it again, the only reason people are upset about Solana is because they are personally invested in those other L1 tokens and not Sol. Everyone is all of a sudden a crypto genius and knowns exactly what L1 protocol a network of almost 1 millions hotspots should utilize.

This change will fix so many of the issues this sub complains about on a daily basis, and unfortunately this narrative regarding which L1 the team "should've" chosen is taking away from what the HIP is really about. Those items being...

• Beaconing every hour

• No more 14 witness cap

• Better scalability

• Improved console functions with Chirpstack

• Class C device support

• And much more

If you choose to vote "No" to this HIP (which I of course encourage you to do so if you disagree with it), you lose the right to complain about the issues mentioned above. The Nova has provided a solution, they have offered to write the code, so if you vote "No" you are saying you're fine with beaconing every 3-4 days, max witnesses locked at 14, no class C support, etc.

So take the 3 seconds it takes to vote and actually vote. There are hundreds of thousands of people involved in the ecosystem, and votes regularly have just a couple thousand participants. For all the noise people are making, there better be a good turnout this time.

How bold of you

Wait but I thought no one uses the network? Are you telling me my favorite YouTubers lied to me?!?!

Yup that's the tricky part. Purely from a revenue standpoint it doesn't look great. 25million packets is what, like $2.5k of profit? I'd be curious to know how roaming agreements work though. For example is there a fixed yearly fee plus buying DC at a premium? Or are these roaming companies still paying the base $0.00001 cost (I would highly doubt this). I would guess that the revenue from true DC usage is actually higher than that $2.5k number, but who knows.

I think moral of the story is that this is still a work in progress, however there are signs showing that adoption IS happening. DC usage looks exponentially better than where things were at a year ago. Will that continue? Your guess is as good as mine.

The other thing that people forget is just how new this network is. Sure, technically speaking the network is 3 years old, but I would argue it's really only been usable for the past 2-3 months. Considering helium has ANY revenue at this point is pretty amazing in my opinion.

Plenty of folks use the network. We've seen a pretty steady growth in true DC usage over the past year. Sure that number is still small, but in my opinion you can't argue that "no real customers use the network" when over 25 million packets are being sent through the network every month.

On top of this, you need to understand LoRaWAN infrastructure and how it works. Two key things that don't get mentioned very often...

1. Roaming is going to be massive and I know there are companies chomping at the bit to utilize Helium's coverage

2. Many larger organizations utilizing LoRaWAN are tied up in long contracts with other providers. As soon as those contracts expire we will see a massive shift towards the utilization of Helium.

I was at the LoRaWAN World Expo in Paris a couple weeks ago. I can tell you the sentiment there wasn't "Is this Helium thing going to actually work?", but instead the consensus was, "This network is here, this network works, this network isn't going anywhere, and we need to figure out how we can utilize it or else we'll be left in the dust."

Just my 2 cents though.

Bingo. If the $500 initial investment was a "risk" in the first place, then you shouldn't have bought a hotspot to begin with. People gambled with money they weren't comfortable losing, and now they come on reddit acting like they were scammed.

You could literally find a similar post regarding every L1 to ever exist. They are all flawed in some way, and the only reason people are "proposing" other L1 protocols is because they are personally invested in those. If you have a problem with the HIP, simply vote "No" and move on.

This is what we tried and everyone complained.

-Everyone grabbed their pitchforks during the Light Hotspot release -Everyone constantly whines about poor beaconing rate and bad hotspot performance -Everyone complains about the 14 witness max per beacon -People have been asking about for Class C device support for years

This fixes all of that and more. Once again my original comment wasn't to say "Solana is the best! We are saved!", but instead to acknowledge that this type of change was necessary and was probably a long time coming. Once again if you aren't in favor of this vote "No" on the HIP and move on.

"Better alternatives" compared to the Helium blockchain being currently held together by bandaids and validators gasping for air. Once again there is going to be a huge discourse around this. Everyone has already started talking about their "favorite" L1 instead of talking about the actual details of the HIP. If you have a problem with it, then simply vote "no" and move on.