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# Helium Payments FAQ ## Super-FAQ - No, the snapshot date has not yet been confirmed. ([sign up for the newsletter](https://goo.gl/forms/8flzE0N8mYppcKDE3)) - No, the talks with Bittrex have not yet been finalized. - Yes, holding your coins on Bittrex is fine, but if you want to be 100% sure hold them on your own wallet. - Yes there are other channels in Slack: ![Imgur](http://i.imgur.com/clsx6cR.png "slack tip" =300x176) ## Important dates - Marketing liftoff: 14 August. [First official public post](https://www.cryptocoinsnews.com/helium-bring-complex-global-supply-chains-onto-blockchain-launching-september/). - SPR Snapshot: End of August or some days before public release in September. - Helium release: first half of September - HLM claiming period: either 6 months or a year. This is as precise as anyone knows at this point. This FAQ is updated regularily, no need to keep asking in Slack. ## Important links - [Homepage](http://heliumpay.com/) - [Whitepaper](http://heliumpay.com/img/WhitePaper.pdf) - [Slack](https://heliumslack.herokuapp.com/) - **[Helium News](https://goo.gl/forms/8flzE0N8mYppcKDE3)** (Mailing list) - [SPR Wallet](http://www.spreadcoin.info/downloads.php) (or hold them on [Bittrex](https://bittrex.com/)) - [Initial announcement on BitcoinTalk](https://bitcointalk.org/index.php?topic=1809278.0) ## Security notices 1. Hey @everyone **please be careful not to click on any phishing links sent in DM's**, especially from a user with 'ETH' in their name. We haven't had any problems yet, but there is someone doing the rounds in all crypto slacks. [by @coins101] 2. **Paper wallets are not secure** unless you know exactly what you're doing. We've had people lose thousands of coins already. [More info](https://bitcointalk.org/index.php?topic=1045373.msg20223325#msg20223325). ## Helium coins ### Where can I buy HLM? You can buy SPR on [bittrex.com](https://bittrex.com/) and that will become HLM. You'll also get to keep your SPR so if you buy 1000 SPR then you'll keep that plus get an additional 1000 HLM. You can't buy HLM just yet as Helium is not public. SpreadCoin will continue to exist, Helium will just branch out of it. Currently the SPR blockchain snapshot is planned to happen in august, no precise date has been announced. However Helium itself will become public in September. Also be careful not to call this a "swap", because you'll have both your SPR and an equal amount of HLM. ### But *how* do I convert SPR to HLM when the time comes? *Quote from karmashark:* > Currently Coins and myself are in deep negotiations with Bittrex to help us both with the snapshot and the coin redemption. If Bittrex agrees to assist us they will credit individuals accounts with a 1 to 1 matching of the SPR they hold at the time of the snapshot. > > So, 'if' Bittrex agrees to work with us, and I believe they shall, then you will not have to do anything other than park your SPR in your Bittrex wallet prior to the snapshot date > > I will be letting all of you know the end result of our work with Bittrex as soon as we have an agreement in place for all requirements. To be updated either keep an eye out in the Slack or join the [mailing list](https://goo.gl/forms/8flzE0N8mYppcKDE3). Also [here's](https://pastebin.com/TfEj990q) some more detailed info. ### Should I keep the coins on Bittrex or move them to my own wallet? If Bittrex agrees to cooperate then keeping your SPR there means you'll get your HLM automatically. Even though the devs seem pretty sure of the cooperation - nothing is guaranteed at this point. Technically you are 100% safe if your coins are on your own wallet, because you have your private key. ### What price will HLM start out with? Will SPR and HLM be equal in value at the start and the market takes over from there? If we get listed - it's whatever you want to set as a sell or buy price. ### Okay so how far are the talks with Bittrex? By @coins101 in 24th of July: > @everyone We're now going into a period of confidentiality over the Bittrex listing. If you ask about progress, we'll respond with something like 'we are now in a period of confidentiality over the listing process, we can't tell you one way or another'. > This was advised by Bittrex. > We'll make an announcement about the launch process in the next day or two. In any case 1st of august was pushed up to near public release (no precise date has been announced). ### How much HLM do I need for a Masternode? 1000 HLM. Or currently that would be 1000 SPR. ### Is there a recommended wallet to hold SpreadCoin in? There's only one [downloadable one](http://www.spreadcoin.info/downloads.php), but you can also hold them on [bittrex.com](https://bittrex.com/). ### Should I buy SPR now or wait for HLM to come? Maybe the price will drop? What's you're asking is basically speculation advice. Following Warren Buffets advice you should always look into what you're investing in as if it was your company and decide if it's a worthwhile investment yourself. He also suggests to buy only if the object is undervalued (have some error margin), but this still comes down to your personal research. > FOMO is a bad bad bad advisor @kristerv by @teela Cryptocurrencies are a bit different in the sense that if you think too long you could totally miss the train. Also with HLM you're probably not trying to double your money, but get a masternode so there's more pressure to make sure you get it. While [FOMO](https://en.wikipedia.org/wiki/Fear_of_missing_out) is a horrible investment advisor if you have already decided to buy you should probably do it while you still can. If you do calculations you would need a 50% drop in the market to buy 2x more coins, right? So if you buy 1000 HLM at $1 and the price gets to$200 you've got $200'000. However if you wait for the price to drop and buy 2000 HLM at$0.5 now you would get $400'000 - awesome. But **is doubling your money worth the risk of not getting it at all?** Or as @richyjames put it: > If you want a large amounts of coins you have no choice but to start. For smaller amounts can take gamble. ## Nodes ### What are Servicenodes? ServiceNodes will perform for profit related services. An Uber type model will be created where the network and users rate providers. Our initial focus will be for Service Nodes to run fast relay networks, called Decentralized Digital Services Networks (DSDN). These will enable anyone to run a full Bitcoin node for anyone else, for a fee. Or users can run their own secure Helium Nodes, Bitcoin nodes, Monero nodes, etc. There is much more to learn as well so head over to the slack channel #servicenodes for in depth Q&A and read [the first public article](https://www.cryptocoinsnews.com/helium-bring-complex-global-supply-chains-onto-blockchain-launching-september/). ### Whats the difference between Masternode and Servicesnode? > Masternodes support the network by hosting copies of the blockchain, therefore securing it. Masternodes will be paid by allocating 45% of mining rewards out in a random payment schedule to these nodes. > > Servicenodes will be hosting blockchains for third parties and will be paid by businesses/groups who are interested in that and or services the nodes are offering By @misanthropicrage ### How much for a Servicenode? It is undecided at this point, but devs have floated numbers between 5,000 HLM and 10,000 HLM. Devs have also stated that a service node may be priced as a flat rate in fiat, presumably so that the price remains somewhat fixed. ## The vision ### How does Dash vs. Helium compare? By @allomancer_jak >Dash is trying to replace the usd as a means of everyday payment. Helium has a different direction for the project, so I personally do not consider them to be rivals. The money coming into Dash comes from a different place than where Helium money will come from (e.g. Enterprise investors and businesses paying us to use services offered by the Service Nodes). ### What's the deal with using Dash code and finding enterprise clients? By @karmashark > Both Coins and myself are following Evolution's, well, evolution (as closely as we possibly can). Dash has an advantage of having a large coffer of USD$ to fund their development out of. The flip side is we have a lot of real-world experience at the top as founders, Coins in the world of infrastructure and construction and myself in the blockchain space for half a decade and before that, BlackBerry for seven years. > > Time to market is hard to predict unless they can see into our labs and we can see into theirs, which is not possible. That being said, we have a solid plan and some talent backing us along with business experience working with Enterprise clients. All I have done for the last decade is work with Enterprise, ditto for Coins. I think you will see both Dash and Helium will have compelling offerings with these releases however ours will be very polished as we have several years of development plans now beginning. There is some patents as well which will add in another layer of beautiful complexity (we will have updates on this when ready, revolving around payments). ## The team ### Who are the HLM devs? coins101, karmashark and conradprogrammer, with some initial support from gjhiggins. They seem to have been around for a long time and taken part in Dash (possibly other projects too). ### What's the story with how Helium came to be? @coins101 put it like this: > I joined Spreadcoin in Feb 2015, after leaving DASH > > just before Feb 2015, I spent several months trying to get the DASH lead dev to add services to DASH > > he was focused only on competing with Bitcoin using only Instantx and coin mixing > > I really wanted to go after services as Master nodes can do so much more than just coin mixing > > I have been working on services for a second layer for a few years now, the first concept was to build accounts, so that people who knew zero about crypto could still use crypto the same way they use an online wallet service like Coinbase or PayPal > > After I left, DASH investors liked that idea so much they got Evan to work on it - now called Evolution > > We're building on that, but also adding some new dimensions associated with Smart Cities > > The lead dev of Spreadcoin isn't a fan of Enterprise applications, so we've decided to part ways and so the work I and others have been doing for over 2 years will be moved into Helium ## Who's writing this FAQ? It's community written. Ask around for the edit link.