Side Hustle Review – Is It Too Late To Make Money With A Helium Miner?

Hi, this is Steve Rhode, your Get Out of Debt Guy from GetOutOfDebt.org. Moving forward, you’ll hear more podcasts from me about a project I’m working on named Penny Stupid. You see, getting out of debt can be tackled with several different approaches. One is reducing what you owe, but another is increasing income to help pay down the debt. This has taught me that a combination of both usually is the winning hand, but making extra money is problematic when trying to do it through desperation rather than inspiration. So we aim to change that for you by showing you the way. My friend Deckcoach, Damon Day and I are working together to find side hustles you can explore to help make an extra 500 to $2,000 a month with your own side business or side hustle. Deckcoach, we’re not selling anything so don’t worry, the advice you will hear is unbiased. We’re starting from scratch on the different side hustles so we can find the potholes and you can avoid them. As Damon once said, our side hustle is to try all the side hustles so you don’t have to. When people are struggling with money and debt I found the stress of the debt often leads to inaction, fear and desperation. Unfortunately, this fear and anxiety have left people easy targets for scammers and uncertain about what to do to make extra money. This is nothing new and ever since I can remember people have had work from home scams like envelope stuffing or many multi level marketing schemes that have proven unsuccessful and collapsed, taking loads of their money with them. The best side hustle allows you to increase extra income without adding on time consuming work. Time is the most precious asset we each have, so let’s not waste it. If you’d like to discover more about this project, visit pennysupid.com and subscribe to our email updates. But you can stay tuned here and more updates will be shared on future Get Out of Debt Guy Podcasts. Oh and you can also visit the project on Facebook if you’re into that sort of thing. You can go to facebook.com slash pennysupid. But today here’s the latest audio update from a pennysupid.com video we just published. I always wish happiness, peace and financial success because life is just too damn short to suffer in dark, damp, depressing debt if you don’t have to. Until next time this is Steve Rhode, your Get Out of Debt Guy from GetOutOfDebt.org and oh yes pennysupid.com. And now the pennysupid update. You still make money with a helium miner? Well in cryptocurrency years, helium is middle aged. Along with aging, the helium miner side hustle has significantly changed since it started. The helium network began in 2013 as a network of long range gateway hotspots that could be deployed throughout an area by agreement with building owners, typically paid in conventional currency. However in 2017 the company’s funds were running low so it switched to a new strategy, offering individuals payment in cryptocurrency to operate individually owned nodes in their homes or offices. Well this was when the side hustle hype about becoming a helium cryptocurrency miner really ramped up. Before the crash in bitcoin, the helium hype was hot and heavy. Researchers were selling people helium mining units with the you got to get in now or you’ve got to see the dream sales messages. Initially when the helium mining promotion hit, it became hard or impossible to purchase helium miners. A small unit was supposed to be about $500 but with demand outstripping supply the prices skyrocketed. Well, in a post that I’ve got on PennyStupid.com you can actually see one of these hype sales messages. Just go to PennyStupid.com search for helium. Watch it for yourself. Now Damon, my friend and partner who is in this side hustle testing opportunity, Penny Stupid, he was an early adopter through the iHub Global Affiliate Network. But unfortunately he got the special insider rate. He had $500 for his miner and had to split earnings with the network marketing company. Nevertheless at the time it was a reasonable way to get into helium mining since miners were hard to get a hold of. But reality was much different than the hype for the helium miner. Rather than go the iHub route, I purchased a miner at a premium cost in 2022 for $1000. I knew I had a killer location at my local metropolitan airport, surrounded by other miners. So I put the antenna on top of my giant metal airplane hanger which helped amplify my signal and connection with other units to make cash. I tested the Nebra helium miner at that location and earned about $200 a month January, February, March and April of 2022. I sold my hanger in May and no longer had access to that location. However, I had nearly made enough to pay for my helium miner before the sale. So it wasn’t a total loss. Once I changed the location, I wondered if the helium miner had some technical issues since it was really barely doing anything. I was getting some quirky diagnostic readings on it as well. Was the unit dying or was helium dying? And looking around at miner prices in September, I found some affordable miners on eBay for $179. When I purchased the second miner, the hype was dying off as the price of helium tanked. The more affordable miners could be found in September of 2022. As I’m doing this podcast, the price of helium is in the dumps. Currently it’s in the $4.19 per coin range. And helium was caught exaggerating. In July of 2022, helium was said to have engaged in some questionable marketing hype, saying that lime, you know the scooter people, and sales force were customers using the network. Internet revelation didn’t tank the price because cryptocurrency had been collapsing anyway. But an article from Mashable covered the outing. It said helium is often heralded as one of the most significant success stories in the Web 3 space, even landing a coveted article in the New York Times earlier this year. Since 2019, the decentralized wireless network service, which builds itself as a peer-to-peer network for the Internet of Things, has touted rideshare company lime as one of its marquee clients, claiming the company uses its service to geolocate rentable scooters. Well there are numerous mentions of the partnership on its website along with the presence of Limes company logo, and in press coverage with various news outlets, as Mashable said, there’s just one problem. That partnership never really existed. So my helium units are producing squat. The latest unit I purchased and have located at my house is in a less population dense area. However, the external antenna is located on a metal roof, so it would seem the results would not be a stellar because of the location, but if the metal roof experience held out, it might be okay. In the last 30 days, my new helium minor generated 1.96 HNT coins. It’s worth $8.21 at the current rate. And at this rate, it’ll take 22 months for me to recoup my minor purchase and break even. But that’s only of course if helium doesn’t drop further. So I’m not holding my breath on that. Now Damon has had his helium minor operational for longer. He purchased his in October of 2021, and the results were encouraging. But remember Damon was part of that affiliate iHub global network, and he was having to give up 50% of his earnings. When he reached out to the group and asked about selling his unit to someone else, he was told something like, hey buddy, you gotta hang in there and see the vision. Well, I think the data that Damon has generated speaks all the vision I need to see. In September 2022, Damon’s minor earned half a helium coin, 0.52. At $4.43, he made a whopping total of $2.30 of what he had to give up half. You can see what you might earn if you use the helium Explorer website. You can do a Google search and find it. It can give you a lot of market intelligence. It’s my go to site for data, seeing the reality and helium minor locations and making money today. For example, I’m going to pick a random address so I can show you what you can earn. Using Raleigh North Carolina as our example location, you can see many areas with minors already. However, don’t let that discourage you. Density does not seem to be as important as the actual location the miners located in. If you look at this block of miners that I have on the website at pennysdupid.com in my helium post, you’ll see that near my old airport location that was really earning for me, other miners near downtown Raleigh are doing from 0 to 5.12 coins per month. And while 5.12 per month is a much better and significant number at the current value of HNT, that’s still about $25 a month. Not much. But population density alone is not the key to results. One of the highest performing miners today is located in Austria. This miner is using an antenna reported to be more than 30 feet tall and has a tremendous amount of reach it looks like it might even be on top of a mountain. Last month it made $293. But keep in mind, this is in the top 3 miners in the world you will not earn anything near that. So here are my helium side hustle thoughts. You have laid this side hustle bear for you. So you can make a well informed decision if it’s right for you. HNT mining might still be something worth pursuing under the following conditions. You evaluate the area that you will locate your miner in and see what others are earning around you. Use the helium explorer website to do this. You can find the link below. If you think there’s a potential, well then look for a miner that is going to be inexpensive. eBay is an excellent place to look for new units people are unloading. Buying a used unit can be problematic since ownership must be transferred. I’d stay away from that. Consider your opportunity to place an external antenna in an excellent location to reach the most number of other miners to earn rewards. And be patient. With this you must appear to be in a coma if it’s going to pay off for you. You have to be that patient. My vote is that $5 per coin pass this as a side hustle. Don’t waste your time or money. And for more posts and information and updates on helium mining, be sure to visit penniestupid.com. This is Steve Rhode from Side Hustle Central. Be sure to subscribe, follow and don’t miss any future updates.