Tech and Install: Objections To Crypto "Mining" with Helium IoT Hotspots

 Objections To Crypto "Mining"

“I don't like the ecological implications of Bit Coin or other data mining.”

Great point.  These hotspots use a little electricity, about as much as a 5w light build, are pretty much silent, and use a bit of your WiFi data (equal to watching 1 streaming movie per month).

“Yes, the individual system might not have much of an impact, but globally, data mining uses more energy and creates a huge carbon footprint. “

This is not “data mining” like those other kinds.  There are no data mining operations related to this network….these low power devices are the network.  The IoT or internet of things is all low power (in some cases no power) devices, and this is not going away, really ever.

“I dislike how electronic currencies can, and are used, for criminal and nefarious reasons.”

The same could be said of regular government backed currencies.  In this case, like many cryptos, it is NOT anonymous, the blockchain is public and reviewable.  So if you wanted to perform criminal activities over a public blockchain...good luck.

“I have concerns about the currency's volatility and how it's not backed by the US, or any, government.”

Volatility is certainly an issue, as it is with any investment and with almost all currency transactions (i.e. international money exchanges).  This is why we are cashing at least some of it out immediately and depositing it into the bank.

Of course, what is the stability of the US Dollar?  The might of the US Military perhaps?