What Is Pi Network ?
Pi Network Is A Digital Cryptocurrency Project. That Allows You to Mine The New Coin Called Pi Coin On Your Phone By Simply Pressing A Button Once Per every day.
Pi Network Is Lead By Stanford PHDs, Who Helped To Build Stanford’s Blockchain Community.
Pi Network aims To Keep Crypto Mining Accessible To Everyday Users.
Is Pi Network A Real Cryptocurrency ?
The Answer Is Not Yet. Pi Network Is A Project That Aims To Create And Launch A New Cryptocurrency Called Pi. In 3 Phases And Currently, The Project Is In Phase 2.
According To The Core Team We Will See Phase Three, When It Becomes A Real Cryptocurrency Which Will Have some Value Within In The Next 12 Months, So Either At The End Of 2021 Or In Early 2022.
Do We Actually Mine Pi Coins On Our Phones ?
No, We Are Not Mining The Coin On Our Phone Because, Unlike Bitcoin Which Uses A Consensus Algorithm Known As PROOF OF WORK. Where You Have To Solve Complex Problems.
But Pi Uses Stellar Consensus Protocol And That Means That The Pi Coins Supply Can Be Pre-Created By The Pi core Team.
So All coins Already Exist And You Are Not Mining them But You Simply Receive a Reward For Every Time You Press The Button In The App And It Will Not consume Any energy Or Drain Your Battery.
Why do We Have To Push That Button Everyday
For Pi Network To Succeed, so To Establish A Value For Their Coin Once They Reach Phase 3 At The End Of 2021 Or Early 2022.
They Need An Active Community And That Community Needs To Be Big Enough.
Now If You Signed Up In 2019 When The Pi Network Project Started And You Wouldn’t Have To Open The App Once A Day Chances Are That By Now You Would Have Already Forgotten Everything about The Project.
And when They Go Live You Wouldn’t Even Know That You Have Any Coins. which Means Pi Network Would Fail And Be Dead.
Because They Would Have Maybe Millions Of Users But None Of Them Would Be Active So By Providing You with an Incentive So You Receive coins For Opening The App Once Per Everyday They Make sure That As Many Users As Possible Stay Up To Date.
And Involved In the Project Because every day You Open The Open You Can See Any News That they Might Publish On the App Home Screen And You Stay Involved With The Project.
Which Means When they Reach Phase 3 You Will Be An Active Member And Willing And Looking Forward To Using Your Coins Which Is A Core Element For Pi To Have a Chance Of Success.
Is Pi Network A Scam
Some People Say That Pi Network Is Just A Pyramid Scheme Or Multi-Level Marketing Scheme.
Because you receive A Bonus when Somebody Signs Up With your Referral Code And If We Think About It We Realize Why That Is.
Pi Network Needs A Huge Amount Of Active Users Once They Achieve Phase 3.
Because Only If They Have Enough Users At That Point And Especially Active Users They Have A Chance That Pi coin Establishes Itself As A Cryptocurrency Like Planned And Outlined In The Pi Network White Paper.
To-Do That They Provided Users With An Incentive For Inviting New Users Which Will Boost Mining Rate.
Pi Network Doesn’t Steal Your Data, There Are no Complaints Regarding This Issue And Pi Network Team Introduced Adds Which Are Also Optional We Can Disable Adds From Settings.
They Introduced Adds Because It Will Cost A Lot For Them To Maintain Servers And Yet They gave Chance To Us To disable Adds From Settings.
They Are Not Getting any Money Or benefit From This. Instead, They Are Spending Their Whole Time To Improve And Progress Of Pi Network. Then Why Will They Do This Just Thing About It. They Are Not Hiding Their Identities Also.
They Actively Participating And Answering Questions Regarding Pi Network And Making Progress Towards Phase 3.
Pi Cryptocurrency Price
Now Pi coins Are Worth Exactly Nothing Until The Project Reaches Phase 3 And You Can Use The Coins To Trade Or Exchange Them On Popular Exchanges.
What Will The Value Of Pi Cryptocurrency Once It Launches
That Is Totally Up To Us.
As A Pi Network Community If The Majority Of Users Is Not Willing To Use Or Sell Their Coins For Less than One Dollar Per Coin Then The Pi Coin Value Will Be One Dollar Per Coin.
If Some People Are Willing To Sell Pi For Some Cents Then The Price Will Be In Cents. It’s Depended On Pi Community.
Conclusion
Pi Network Is A Legit app And We Can Trust the Team. You Don’t Lose Anything At all, Only 10 Seconds A Day.
Who Knows The Future, Maybe Pi will Have A Good Value In Future. If Not, We Will Lose Nothing.
In The Beginning, No One Was Believed In Bitcoin But Now The Value Is At Sky Level.
The Future Is Uncertain, So Let’s Download The App And my Pi. If You Want You Can USE MY INVITE CODE ”lithin45”. It’s Up to you.
If You Still Have Any Doubts. Feel Free To Let Me Know In The Comment Section.
PROOF OF WORK vs PROOF OF STAKE
