App Review: Pi Network

App Review: Pi Network

It was a couple of years ago. Bitcoin was worth literally nothing and I had a chance to buy 1.000 of them for just a few bucks.

Well, to make a long story short I did not. And trust me, sometimes I hate myself for that or at least I think I missed out on a great opportunity.

A while ago I stumbled upon Pi and I got curious.

What is the Pi Network?

The Pi Network is a blockchain-based digital currency platform developed by Stanford PhDs.

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There are currently over 18 million users (miners) that earn (mine) the Pi coins/tokens on their smartphones free of cost, free of privacy infringement and close to zero CPU, data & battery usage.

Pi coins/tokens are believed to have significant, real-life monetary value in the near future.

Legit or yet another scam?

When I first heard about Pi I thought it was some sort of privacy scam. I didn’t understand it. ????‍♂️ It seemed like another app that I would never use. I thought it was a waste of time, mobile data and battery life. As a result, I didn’t participate. Again. ????‍♂️

But on one of those dark and cold winter nights I was bored and did some research on Pi:

The Pi Network is a blockchain-based virtual cryptocurrency platform founded by three Stanford University PhDs- Dr. Nicolas Kokkalis (the head of technology), Dr. Chengdiao Fan (the head of product) and Vincent McPhillip (the head of community). However, Vincent McPhillip has reportedly resigned, and is no longer on the Core Team behind the Pi crypto.

The consensus algorithm the Pi Network uses is called the SCP, or the Stellar Consensus Protocol. It was developed by David Mazieres, a professor of Computer Science also at Stanford University. The mining of Pi crypto tokens is the only service the Pi Network provides so far, and they don’t have any other products on offer either.

Sounds all quite legit to me.

How does it work?

This is how the Pi coin mining works: first, you have to download the Pi Network app (it’s also available on the Apple store). After that, you need to confirm that you are a human being by tapping a lightning symbol on the app every 24 hours. The actual mining process will be initiated at a standard rate on your mobile device (about 0.2 Pi/hr), without causing a drain on your device battery. Even if you exit the app, the Pi coin mining process won’t be interrupted. ????

New members on the Pi Network can join only with invitations from existing users. A miner can even accelerate their mining rate if new members join the network using their code.

There are quite a few roles users perform within the Pi Network ecosystem, namely those of the Pioneer, the Ambassador, and the Contributor. Regular users, those who have just downloaded the mobile app and are expected to confirm they are not a robot on a daily basis by signing into the app are called the Pioneers.

Then there are the Ambassadors, those who introduce other users to the Pi Network by sharing invitation codes with them, and the Contributors, who – after finishing three full mining sessions as a Pioneer – can add three to five people whom they trust to their security circle to achieve that role. And of course, there are the Nodes – those who use the app and run node software on their computers.

Ok, got it. Now let’s start mining.

I felt like I totally missed out on a ground-level opportunity because you can only earn Pi for a very limited time, and will have to buy Pi coins/tokens on the market like other stocks and cryptocurrencies.

So I installed the app to start mining Pi on my phone. As I went through the process I realized I couldn’t start mining because I didn’t have an invitation code. ????‍♂️

I was locked out and couldn’t even join the Pi Network. So I had to search the internet for an invitation code. I got one and was able to join the community.

Again, to make a long story short: If I started mining Pi the first time I heard about it I would have way more Pi coins today. ????

You see, mining Pi is absolutely free from risk. All you need to do is press one little button every day and forget about it for the next 24 hours, that’s it.

Give it a try and join my mining team, I would really appreciate it. Just follow this link and remember to use my referral code:

demonicpickle

Happy mining!


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