Cryptocurrency

Exploring alternative mining options through IoT incentivized networks – Gathering of the Gigahash #2

Hull Invest

From Dave, Akiba and Joe in this episode of The Gathering of the Gigahash NetworkBits cipher Explore the mining landscape within the Internet of Things (IoT) and location services. Passionate about the subject, Joe explains how location-based services work using triangulation with RF (radio frequency) broadcasts and his TDOA (time derivative of arrival). He mentions the use of mutually line-of-sight anchors or antennas that can triangulate the location of his roaming devices.

This group discusses the goal of creating a navigation system that can serve as an alternative to satellite-based systems in the event of war or other disruptions. They also mention the concept of proof of location, which allows users to timestamp their location on the blockchain.

The conversation then turns to the topic of mining, specifically the use of helium mining machines. Akiba said he purchased his miner from Helium, but has only mined about $20 worth of cryptocurrency, which has led him to question the profitability of the industry. Joe explains that while he is still interested in the technology behind helium, he is selling the miners due to the challenges facing the project, including failed adaptations and poor management. I’m here.

This group will discuss the importance of tokenomics and the need for long-term sustainable decentralized infrastructure. It also touches on the potential for technology to be used as a force for good, protecting against dictators and promoting freedom. However, he also points out that technology is often overvalued in the short term and undervalued in the long term.

Overall, the conversation focuses on the complexities and possibilities of IoT and location-based services, as well as the challenges facing projects in the cryptocurrency space.

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