At this point, some people call this project (Pi Network) a scam and others believe it to be the next Bitcoin.
I think it is a scam because they are not asking for money and they are not promising the moon in the next month. When you install the app and mine the Pi Network coin it doesn’t consume your data or battery.
So What is Pi Network actually?
Pi is a new social cryptocurrency secured and backed by everyday people. Developed by a team of Stanford PhDs and graduates, Pi can be easily mined on mobile phones with a low financial cost, limited battery drain, and a light footprint on the planet. Pi’s social cryptocurrency is laying the foundation for an inclusive, online ecosystem where everyday people can capture their fair share of the digital pie.
Is it Next Bitcoin?
It is not the next bitcoin, at least not yet, because it has to launch the main net and we have to see if people start using Pi Network coin in real life.
But here is a fact about Pi:
- Pi Network app has been downloaded more than 1 million times
- Pi Network node applications have crossed over 100,000
- The rate at which one can mine the Pi Network coins follows a halving protocol similar to bitcoin
- The team will implement KYC process, using a third party vendor, before people can transfer their Pi Network tokens.
How much is Pi worth?
As the main net has not yet launched and since the Pi coins cannot be on any exchanges yet, to put a dollar value we have to look at how much the Pi IOUs are trading at the moment. I Owe You (IOU) are unofficial agreements agreeing to honor a contract in the future.
How to Start Mining?
To join and start earning Pi, users need only download the free app, currently available on Apple or Android Click: https://minepi.com/#download
Use this invitation code: “Sandip125”
New members with questions can read the app’s FAQ or ask their inviter via the application’s newly launched Earning Team chats.
Here you can watch the video :