Why this HIP matters more than the others
Why it matters
HIP 51 is the single biggest event in the growth of the Helium network and your current LoRaWAN HNT earnings. We will look back on this moment as a pivotal milestone in the journey of the Helium network's evolution. The vote to enact HIP 51 ushers in the expansion of the Helium network's wireless capabilities in providing a comprehensive portfolio of decentralized wireless services while securing its market dominance.
A brief history lesson
Here are some simple examples from history as to why it's essential that Helium expand its wireless capabilities and form a DAO to house its Decentralized Network Tokens(DNT) under the HNT umbrella token distribution.
Every time Apple released a new product it attracted a new customer base and expanded its existing user's capabilities. Under the Apple product line umbrella, the different arms of the company collectively raised the stock price and valuation of the company repeatedly.
Another simple example is Amazon’s expansion into developing different market services for its customers drove its evaluation and stock price to unheard-of new heights.
Why we should evolve
Imagine for a moment if Apple or Amazon had never expanded their market reach; Apple still only sells desktop computers and Amazon just books. These companies would just be but a blip in history instead of household names had they not expanded the reach of what they can offer their customers under one umbrella. Helium was designed to become a multi-purpose wireless network from its inception. It’s so far succeeded in the proof of concept to create a global decentralized wireless network with LoRaWAN. To avoid the perils of history it is essential for the Helium network to evolve and expand what it can offer its customers; should we avoid becoming the Blockbusters or Kodaks of history.
Why you’re earning less each month, and why it’s not too late.
You Are still early
It may feel like your earnings are going down relative to the dollar but if you believe in the future of the Helium Network, then you are still an early adopter and will likely earn more HNT now than any time in the future. With Millions of miners still on order and yet to be installed, you still have time to earn significant rewards if you believe the token price will go up over time. Imagine you paid for 2 pizzas with 10,000 Bitcoin 12 years ago, this is a very real scenario we are in with Helium. Today you scoff at earning 0.03 HNT per day. In 12 years from now do you want to look back and think why did I unplug my miner or think it was not worth running a machine that cost about as much to power a light bulb to run?
Piece of the Pie
Currently, you can still only earn HNT through mining with a LoRaWAN miner or 5G miners that have LoRaWAN mining capabilities built-in. In the case of Bobcat Miner, you can buy the Bobcat 300(LoRaWAN Only) or Bobber 500(LoRaWAN +5G) both of which will allow you to earn HNT while the DAO is being built and new token allocations are solidified.
HNT earnings through LoRaWAN vastly outweigh 5G earnings because there are none at the moment. Even when each Helium wireless network and its corresponding tokens are under the umbrella of Helium Network DAO, it will still take time to implement the new tokenomics fully. In the beginning, It will only be the early adopters of 5G that will earn 5G MOBILE tokens through a sort of airdrops distribution for meeting specific criteria and not accrued through the usage of burning 5G data credits. Namely, the LoRaWAN IOT Tokens you earn will likely still be superior as convertible assets into HNT over 5G tokens for quite some time.
However, over time 5G and other wireless network tokens will likely overtake the burning of data credits as network adoption and commercial carriers come on board to offload data to the boarded market. We’ll similarly see Wifi 6 installed in hundreds of thousands of homes and businesses globally. Nevertheless, this will also drive up the value of all of the tokens collectively, especially HNT & IOT. tokens.
How you can learn more about this HIP and avoid getting it wrong
What to avoid
The simplest thing you can do is avoid sensationalized headlines on your social media. If it sounds like clickbait it’s probably clickbait, don't get caught up in the drama. Additionally try to avoid armchair experts commenting from the sidelines, especially in the comments section of any Youtube video.
Where to start & Sources of Truth
The easiest way to dive into learning more about this HIP is to stick to the sources. Namely, Start within the Helium ecosystem. Discord is your friend, the most current and relevant information will come out of the Helium Discord. Lively conversations to discuss the nuanced intricacies of the HIP can be had on the HIP 51 discord channel or in one of the voice chat channels.
You can also follow up on past AMA’s about HIPs 51-53 directly from the people who wrote the HIP’s. Bobcat Miner is also starting to produce an educational video series we’re titling, The Bobber Academy. It’s specifically focused on educating the community on topics like this HIP and understanding the different wireless technologies in the Helium network. You can look forward to a Bobber Academy episode about HIP 51 specifically, where we inverter Max A professional Helium feet deployer, a community expert within the HIP 51 discord channel.
If you want to go even deeper you can read HIP 51 in its entirety on its GitHub page. Additionally, you can follow the Helium Blog where they post new updates regarding the state of the network and more.