Every time I write a blog post about the Pi network I get reminded of how many people really hate and distrust it. I have to admit that I am amount the doubters. Never the less, the point of the 1BTC project is to get to a whole coin without breaking the bank and hopefully show others how to do the same. The pi network is a tool that if the stars align and it actually does go live will help me get there. I do not think the token or the project will be a strong competitor, but I am starting to have hope that it will go live. If and when my tokens do become tradeable I will be converting them all into Bitcoin.
Even if the token ends up trading at fractions of a penny, I do not care because I got my tokens for free. All I spent was my time - which was barely any- and some mobile data -which I have unlimited. My reward for patience at todays prices would be 1.659 BTC. I would achieve my goal and then some. If it trades at a penny each then i made $9 USDT that I wasn't expecting. If it never goes anywhere. oh well. At least I tried.
"If nothing is ventured in life, then nothing is gained,"
I am already committed, so I may as well see the pi network through. So if it is all one big scammy waste of time, I will fall on that grenade for you all. This is why yesterday I downloaded the pi browser and began the KYC process.
The browser appears to offer a lot of functionality but most of it is useless. The chat should be deleted. It is an endless string of people around the world saying hello and asking when Mainnet will occur. A complete waste of time. Brainstorm.pi is just a way for the developers to mine ideas, but good for them. The Mine.pi tile brings you back to an online version of the original pi mining app, absolutely redundant. Blockchain.pi shows you all the transactions on the block chains with the fake pi tokens that they give out. Develop.pi is for the developers of pi apps i guess, and KYC.pi allows you to help verify other accounts accounts.
The interface is listed below. Most of the functions are a huge waste of time.
Wallet.pi
I imagine that this will grow into the actual hot wallet, but right now it doesn't do anything. When you begin the KYC process you are granted 100 test pi. The point of having test pi is very unclear but I have 100 of them. They are very overt in saying that they have no value. I would much prefer if it showed my projected amount of pi from after Mainnet instead of this silly fake pi place holder.
They were not ready to have the mining app communicate with the wallet so they should have held off in releasing this feature. The Test pi is a dumb idea. Actual pi has no value, why have a valueless version of a valueless token. Redundant.
KYC.pi
This is the only other feature that is interesting. If you click on this tile it brings you to a screen where you can verify pi network users and help with the KYC process of others. I was initially skeptical but I have done dozens at this point and no personal identifiers or information has been shared. The only thing that the crowd is being used to identify are matching selfies and ID pictures (only the picture is in frame) and the video proving you are an actual living human. I have to say it is interesting seeing other users from different corners of the world.
They also claim that successful verifications will be rewarded with pi. That makes sense and I appreciate being paid for my work. Unfortunately after I completed a dozen KYC applications I had no more to do. This could be for several reasons, too many verifiers, too few applications, but this it gives me a feeling that the pi network isn't as popular as the developers want it to be.
Mainnet Checklist
I gave Sweat coin a lot of credit for having a road map to going live on their website, so I will do the same for Pi. They have shared an 8 stage roadmap of the journey towards Mainnet.
You can see that I am on step 6 of 8. Which is most of the way there. It is important to remember stage 4. In stage 4 the user has to commit to a lock up period in return for a boost to the users mining rate. As I am committed to locking up 100% of my pi 2 years after Mainnet. This alongside my security bonus will grant me a 756.92% bonus to my mining rate.
In another example of the 2 apps not talking to each other. The above roadmap from the mining app says I am waiting for KYC approval but in the pi desktop app it says my KYC has been competed and approved.
In my initial review of the pi mining app I gave it 2 out of five stars. This was too high. I should have given it a single star, but I was young and naïve.
I would give this combination of the pi mining app and the pi desktop app 2 out of five stars. It is progress, I guess. The apps clearly are not talking to each other and I believe the developers are not as far in the process as they think they are. I would say this is a step forward and a step back.
Earning pi from KYC verification is intriguing. I hope they smooth out the kinks soon, but there is currently no point in having the second app outside of submitting your KYC information.
Hopefully I am not being scammed, but who knows. I will keep you up to date with any major change in this experiment.
As I have written several times before pi network tokens are worth nothing until the are not.
Referral links if you want to start earning with me:
KuCoin
https://www.kucoin.com/ucenter/signup?rcode=rM3Y31U
Binance
https://www.binance.com/en/activity/referral-entry/CPA?fromActivityPage=true&ref=CPA_00IM6PD2BT
COINapp
Publish0x
https://www.publish0x.com/?a=xkaz6G87aJ
SWEAT Coin
Pi Mining App: https://ca01.z.antigena.com/l/bUNT-vWyii82KEHdfPLA_kH40aUpos9HwKZTcpIYol_txtCGcEN5d~m~QtzH6vvBtAf239EQnQcfcbFnP-gxbkKcbQoPqbKKCmNXOs~9TtIiA8EWN8p_MWUo-wwoyeAyyA-ZcQeKs2ipyNDfTX9Qr7t7~lNq__3DlRub
Coinbase
https://coinbase.com/join/hutchi_am?src=referral-link
Netcoins
https://netcoins.app/r?ac=M8P892
Keep building!
As always you can join the conversation on Twitter @1BTCproject
And keep track of my crypto journal on my other blog - http://635ed752b3bfb.site123.me/
