PI: the cryptocurrency revolution that will compete with Bitcoin !
Maybe you’re starting to think that mining with your phone depends on how powerful it is. But if I told you that mining IP does not depend on the power of your mobile, or your internet and that it’s free … would you like to know more ?
What is Pi network ?
Pi is a new cryptocurrency for and by ordinary people that you can “mine” (or earn) from your phone. Today you can mine (or earn) Pi by helping to secure the currency and by developing Pi’s trust network. While most cryptocurrencies (like Bitcoin) have been very difficult to access and use for ordinary people, Pi puts the power of cryptocurrency in the palm of your hand.
Is Pi network a scam ?
Pi is not a scam. This is a real effort by a team of Stanford graduates to give everyday people better access to cryptocurrency. Pi’s core team is led by two PhDs and an MBA from Stanford, all of whom have helped build the Stanford community. “We cannot guarantee the success of the project. However, we promise to do all we can to make our shared dreams come true, while maintaining the highest standards of integrity. You can find out more about us by visiting the “Core Team” page in the main menu of the application.”
How to earn Pi ?
To start earning Pi, you have to show up every 24 hours and press a button to start mining the crypto. Once you start working, you can increase your hourly rate by inviting trusted friends and family to join the community. After three days, you can increase your earnings by creating your circle of safety, which contributes to the overall security of the network. More you have referrals, more your hourly earning is important !
Remember that the first members of the network mine at a higher rate than those who come after them.
Why are the early members mining at a higher rate ?
Early members use a higher rate to reward contributions to the network when they are needed most. Pi aims to be the world’s most widely used and distributed cryptocurrency. To achieve this goal, Pi encourages its early members to make contributions that will ensure its success (for example, securing and expanding the network). To reflect the importance of early contributions, the checkout rate decreases as more and more people join the network. Today, the base mining rate halves every time the number of active users increases by a factor of 10 (see graph below). This rate will eventually drop to 0 when the network reaches a certain number of users (eg 10 or 100 million). At that time, just like Bitcoin, miners will continue to be rewarded with transaction fees and not with minting new currencies.
Should I leave the application open ? Is the app draining my battery or my data ?
You don’t need to leave the app open to mine. Pi does not affect your phone’s performance, drain your battery, or use data on your network. Once you hit the lightning button, you can even close the app and you will continue to mine Pi. So how can you mine cryptocurrency without draining your battery or your data? Instead of burning energy to prove the work of cryptocurrencies like Bitcoin does, Pi secures its ledger when members vouch for each other as being trustworthy. This forms a network of nested “safety circles” that determine who can execute transactions. This innovative approach makes it possible to mine cryptocurrency on your phone by leveraging your existing social connections, at no financial cost, without draining the battery and with a light footprint on the planet. Read the technical section of our white paper for more precise and detailed explanations.
What is the value of Pi ?
Today, Pi is worth around 0$…like Bitcoin in 2008. The value of Pi will be sustained by the time, attention, goods and services offered by other members of the network. By pooling their attention, goods and services around a common currency, Pi members seek to capture more of the value that typically goes to banks, tech giants (e.g. Facebook, Amazon) and other intermediaries.
When can I turn Pi into “real” money ?
Pi holders will be able to turn Pi into “real” money when they purchase goods and services from Pi’s marketplace or exchange Pi for fiat currency.
Token holders have two options to turn their holdings into “real” money (or to “cash in”) : 1) directly purchase goods and services with their token or 2) exchange their token for fiat currencies (for example, dollars, euros, etc.) on cryptocurrency exchanges.
1) Buy goods and services directly with your Pi. The Pi network builds a peer-to-peer marketplace where our members can spend Pi directly to buy goods and services. We intend to start experimenting with in-app Pi transfers as early as Q4 2019.
2) Exchange of Pi for fiat money (FIAT) on crypto buy / sell platforms. Pi’s core team does not control when platforms (like Binance, Coinbase, Kraken, etc.) decide to list Pi. However, Pi will be able to be traded in phase 3 of the project (i.e. on the mainnet).
At this point, exchanges may choose to list Pi on the stock exchange. In the meantime, Pi’s core team is focused on implementing our technical roadmap (see our white paper) to reach phase 3.
How to start ?
You need a referrer to register, please use this one : Shiyazoe