gradoj
121 posts
What I imagine it’s like working at Hivemapper and Helium
GIF
English
Questions for @SarahAberg following Friday's @FinancialCmte testimony:
Were you appearing as a lawyer representing Nova Labs, or as a company executive? If the former, candor obligations attach before a legislative body - so how does "not trying to raise capital through selling tokens" square with HIP 149, actively minting ~141M $HNT (~72% of circulating supply) into a Nova-administered vault the HIP itself titles an "operations and growth capitalization"?
The irony, spelled out: that vault's published uses include "regulatory work, and core operating costs." A CLO's salary is a core operating cost. Testifying before Congress is regulatory work. So the "functional" token, the one Congress was told doesn't raise capital, is being minted right now to raise the capital that pays the witness's salary and funds the appearance itself.
@helium is fundraising with the token to finance the testimony that the token isn't for fundraising.
Sarah Aberg 🎈@SarahAberg1
Testified today in front of the @FinancialCmte in support of the CLARITY Act. Clear rules are what let people-built infrastructure like @helium keep growing safely in the United States.
English
Looking forward to testifying Friday before the House Financial Services Committee on the CLARITY Act and sharing @helium's perspective on what clear digital asset rules mean for companies building real things.
Hearing details here: financialservices.house.gov/calendar/event…
English
I ran a census of Packet Broker, the open exchange carrying the public LoRaWAN world's traffic @the. 26,390 gateways online, 156M packets/day.
The operator behind it: a 30-person Dutch company @thethingsindust .
• 25K gateways → ~100M paid packets/day
• $4.4M/yr, profitable, $0 raised
@helium :
• 200K hotspots → 10M paid packets/day
• $36K/yr, $350M+ raised
8x the hardware. 1/120th the revenue.
An IoT market clearly exists — a tiny company is winning it profitably.
So why couldn't Nova Labs or the @HeliumFndn land it? And why were $hnt holders told there's no IoT market, instead?
English
@cryptowithgopal I don't think the sec does Twitter but report the non profit private inurement here:
irs.gov/dmaf/form/f139…
Report the potential revenue fraud here:
reportfraud.ftc.gov
English
$HNT is forming a falling wedge, a bullish reversal pattern that suggests selling pressure is gradually weakening as price compresses into lower highs and lower lows. 👀 Buyers are beginning to defend the lower boundary, hinting that momentum could soon shift.
A confirmed breakout above the wedge resistance around 0.226–0.228 USDT could trigger a move toward the 0.232–0.233 USDT target. 📈🔥 If price slips below 0.219 USDT, the bullish setup would weaken and downside risk would increase.
The wedge is nearing its apex, so expect a volatility expansion soon. Watch for a strong increase in volume to validate the breakout.
$HNT #HNT #Crypto #Altcoins #CryptoTrading
English
@helium @DAnconia_Crypto The term is Private Inurement
@HeliumFndn @ScottSigel
irs.gov/dmaf/form/f139…
English
Per @DAnconia_Crypto Q2 Investor Letter:
"We continue to see $HNT as a misunderstood asset with $100B+ potential [...] its wireless infrastructure, and the global community surrounding it are both difficult to replicate and increasingly-valuable to the rapidly-growing cohort of enterprises that resell connectivity products."
EV3 Sal@DAnconia_Crypto
English
@BidAsk_Spread @didiomario @amirhaleem Who would be interested in a company in financial trouble that has been misleading everyone about their revenue and now want to print more tokens? Price should be around $0.04
English
Extremely disappointing to see zero buying interest in $HNT after losing 80% of its value in the last 4 months. Zero buying interest. Feels absolutely dead. I hope @didiomario and @amirhaleem and team take this seriously as they put “all the focus” into $HNT as they stated after the sale of Helium Mobile. This has been terrible for token holders.
English
Did $Helium even try, or is a 30-person IoT Dutch company @thethingsntwrk just that good?
@thethingsindust (Netherlands) vs @novalabs_
Employees: 30 vs ~50
Gateways: 25K vs 200K
Devices: 4M vs ~100K
Paid packets/day: ~100M vs 10M
Data revenue: $4.4M/yr vs $36.5K/yr
Operating costs: ~$3M/yr vs ~$15M/yr
Funding raised: €0 vs $350M+
Profitable: Yes vs No
So why does @HeliumFndn keep telling us there's no IoT market? Why doesn't helium @lora roam properly with ttn?
$hnt
English
@cryptowithgopal You should really stop shilling this. You do realize they are warming up the printers to increase supply? Support may be there from a few unrealizing suckers until they start printing hnt but smart money has already sold. Hold on for single digit $hnt
English
@ZwigoZwitscher @helium @handelsblatt Don't you think helium pulling the plug on iot poc is just a kick in the teeth to Daniel? How many hidden in sight small businesses did helium kill? Why are you even posting this now?
English
1/ @helium IOT hidden in plain sight - @handelsblatt just featured @helium community member Daniel Trauth & his company datamatters.io.
They use the @helium IOT network to enable German cities to get smarter and save costs.
handelsblatt.com/100235759.html…
English
@Ilonamorozov @helium What's left of the community are a bunch of sheep in a discord echo chamber. @chrisferebee is simply novas tool
English
@helium The community asked to reduce dilution, separate the proposals, and listen to holders. Instead, the original package was pushed to a vote. That’s disappointing. Long-term trust is one of Helium’s greatest asset- please don’t underestimate it. I hope the community votes wisely.
English
Voting for HIP-149 is officially open.
🗳️ Cast your vote in the next 7 days at heliumvote.com.
English
@0ldSportt @helium @HeliumFndn The vote failed but foundation supposedly tracked down the swing vote and they recinded so they changed the vote to a pass after the fact x.com/HeliumFndn/sta…
Helium Foundation 🎈@HeliumFndn
Update on HIP 138 🎈 Today on the @Helium Community call, it was determined that HIP-138 is fully now passed across veHNT, veMOBILE, and veIOT. This means that upon implementation in January 2025, all networks will be rewarded in HNT and MOBILE and IOT emissions will end. For the past several days there has been spirited debate on whether to proceed with a rescinded vote versus a re-vote, as the veMOBILE vote originally failed. A single large voting entity wasn't fully cognizant of the consequences of their vote and approached several community members about reversal. Ultimately, the rescind or re-vote were two paths to what's believed to have been the same outcome, and was ultimately a question of efficiency. There was social consensus among the community and consensus within the Mobile Working Group to proceed with a rescind based on the voting entity in question making a public assertion and proving ownership over the wallet, both have been completed. This matter does expose questions about how HIPs are presented and perceived, however, revotes, reconsiderations, and rescinding votes are entirely normal parts of parliamentary procedure. Our governance framework needs to evolve from an efficiency standpoint, but from our perspective the diversity of input toward the final decision was spread across a healthy range of stakeholders. Join Helium Discord: discord.com/invite/helium
English
@0ldSportt @helium Last time they didn't get the outcome they wanted they just changed the vote. @HeliumFndn
English
this "hotspot" is the wifi for an entire international airport (BWI). it earned 302 $HNT in the last 30 days. this amounts to ~$75 USD per month. for an international airport deployment
aut0@aut0m8d
re: the idea that @helium "has product-market fit". no, they had product-market fit when the payouts were 5x higher. product-market fit is easy when you're selling $5 for $1
English
@dlmcdonough @DePIN_Crypto @KryptoInsider1 Regarding the potential misleading revenue fraud
sec.gov/submit-tip-or-…
Regarding the potential nonprofit Foundation abuse
irs.gov/charities-non-…
@ScottSigel is still pretending to run the foundation collecting more than a million dollars a year
English
I can’t think of a more clear example of criminal fraud than to overstate revenue by 5x, and to then watch as press and investors react positively to that info for two years, and for nova management to sell their own HNT during that time… and to then crater the token by announcing the lie.
I have zero doubt that the managers who left prior to the announcement all dumped their HNT at 2-5x the “post reveal of fraud” prixe that we all have to live with.
I also have no doubt that the sale of helium mobile was done prior to the announcement as a way to insulate that asset from legal action by HNT holders.
These guys are as scummy as it gets.
How do we encourage or support an investigation and indictment of Amir and Mario? I have lost a huge amount of money. I can document the fact that I bought it over the last six months in direct response to their fraudulent revenue story, and that I have lost it as a direct result of the revelation of their fraud.
There must be a way for us to help make sure these crooks are not able to do this again.
English
To add perspective…
I have a Top 500 Helium hotspot and it is earning roughly $1.50/day. That means nearly 140,000 hotspots — about 99.7% of the entire network — are earning even less.
Let that sink in.
At $1.50/day, you’re looking at roughly 166 days just to recover a very basic $250 deployment cost, assuming rewards don’t decline further. Most deployments cost substantially more than that.
In other words, only the top 0.3% of hotspots have a realistic path to a reasonable ROI.
That’s an incredibly difficult pitch for new deployments.
This isn’t to say they don’t have a solution. The reality is that the problem they’re solving simply isn’t profitable enough to justify the effort under today’s economic model.
aut0@aut0m8d
this "hotspot" is the wifi for an entire international airport (BWI). it earned 302 $HNT in the last 30 days. this amounts to ~$75 USD per month. for an international airport deployment
English
Does HIP 149 turn $HNT into a security?
You'd dilute your tokens to fund Nova's payroll with no equity, no ownership, just hope they turn it around.
That's close to the Howey test: money in a common enterprise, expecting profit from others' work. HNT was sold as a utility token. Printing 77% more to bankroll a private company is something else and it was never registered as a security.
The question: is funding Nova worth the risk of HNT being ruled one? Worth asking before the vote, not after @helium @HeliumFndn
English
@TomSmithqcxe That's not how it works. No one is willing to pay them more. Data is worth $0.10/GB.
English
@princemetapunk True on the hotspots that claim was dismissed with prejudice. But that was about hotspots as securities. Nova did pay for the fraud count lying about partnerships. The HNT issuance is a separate issue, and imo printing 77% to fund a private company is probably crossing a line
English
@gradoj SEC bashed them once can’t do it again. Connectivity also too important.
English