Have you guys ever tried setting up Skywire?

I read about it here: https://www.skycoin.com/skywire/

Has anyone tried setting it up?

Just looked at the price of the miner, $2000, geez. I’m convinced that the only people who make any money off of cryptocurrency are the ones who sell the equipment for mining the cryptocurrency. Just like the Californian Gold Rush of the mid-1800s, the ones who made the money weren’t usually the prospectors, it was the people who sold the pick axes to the prospectors.

Looking at the site, it looks like they’re promising payouts pegged equal to 1/24 the price of the miner. That promise alone makes me nervous. On top of that, I’m concerned with the liquidity of Skycoin. What good is the currency if it’s not accepted anywhere and you can’t change it back to USD? In summary, you’d never get your $2000 back.

Also, zooming in on the individual mining units, I see this:


That’s an Allwinner H5 CPU. This thing is a $15 SBC (single board computer). It’s practically an Orange Pi Zero. It’s not even an ASIC.

I see eight of these units, plus a power supply…($15x8 + $20 power supply), this is a $140 cluster being sold for $2000. Avoid avoid avoid!

Just the sentiment of #skycoin on Twitter looks shady.

There is one that I might consider in this area and that’s Helium:

I see them as offering a legitimate service where providers are paid for providing IoT connectivity:

LongFi combines the popular LoRaWAN open wireless standard with the Helium blockchain. The Helium Hotspot also serves as a full node of the blockchain, and mines the Helium cryptocurrency (HNT) for proving its location and coverage to the network. The Helium blockchain is the engine that drives both the health of the network and the economic system that makes both sides of the marketplace work.
Source: Building the world’s first peer-to-peer wireless network - TechRadar

At $425, the hotspots still aren’t cheap, and I think only might make sense in the biggest cities where there’s some density of LoRa devices that could use them. On top of all of this there have to be LoRa endpoint devices that are set up to use Helium, and I don’t think that we’re anywhere near that, so I’m still out.

tl;dr: I’d rather purchase a much more reasonable $125 LoRaWAN gateway and contribute (for free) to The Things Network to help other developers than spend $2000 (or even $450), ultimately help no one since no one is using it, and also still never get my money back.


Oh dear lord! I think what drew me firstly into these things is the idea of probably cutting the cord with some restricting ISPs. And the cost of some DIY set-ups. But I guess you’re right. An orange can never be a raspberry. Interesting, interesting links. We never know what we could pick up on a forum. Thank you so much for pointing me to a more reliable direction.