1 BTC Project - Pi Year in Review.

By 2MFTProductions | 1BTC | 12 Jan 2024

The pi network project is controversial to put in mildly. Many people hate it. Many people are attached to it probably due to hopefulness. I don't have strong opinions on the project, but this year has made me slightly more hopeful. This is in part to the perceived momentum that the pi network team has shown. I also have to commend them for their efforts at transparency.

I wrote about the pi network on four occasions this year:

Pi Network Movement. On August 8th, 2023

Pi Mainnet. On September 20th, 2023

Pi Network Token: A Solution Without A Problem. On November 11th, 2023

A Big Pi Network Announcement? on December 28th 2023.

I don't think I have ever made a recommendation to download pi or start mining. They have a long way to go, if they will ever (or ever intend to get there).

I like to tease them on twitter because why not. They are always announcing features or hackathons or games, when all the people want is a free trading token. They will do literally anything except go live.

Last week I asked why they didn't have a year in review in the the style of Spotify wrapped. I took this as a sign of weakness. I think these kind of features are good for user engagement.

I guess they saw the tweet but January 12th. Is a weird time to put out this kind of thing. Is someone asleep at the wheel? Or are the devs spending their time doing more important stuff.

This summary provided 4 data points. Each one I found surprising.

309 days per year is more than a full work year.
971.93 pi seems a lot higher than I though possible. I imagine this is counting ever pi mined and not only what can be migrated. It is a funny coincidence that I mined 3.14 pi per day in 2024. OR IS IT?!
Discovering bonus contributions are a thing. Are they included in the pi mined or in addition to?
Last 3 referrals is funny to me. Thank you who ever you are. I hope this works out for you.

I am happy they ended up doing the year in review stuff, but this year uncovered more questions than answers. I have migrated my pi to the mainnet, but I cannot find any record anywhere of the extra lock up APY being applied. Maybe that is the bonus? I would love more clarlity.

What do you think? Does the pi network have a chance at success? Does it have a higher chance at success than last year?

Let me know what you think.

Keep Building.

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