Pi is a new cryptocurrency. In fact, it's an experiment by Stanford University students in the creation of value. You can't purchase Pi at the moment, the only way to acquire it is by mining. However, the developer team has done something unique and developed an easy, low energy mechanism for "mining" Pi. The current value of Pi is zero, but to truly understand this experiment and the potential of Pi, is to first look back in the early days of Bitcoin.
Bitcoin was first introduced to the world in 2009. It has a value of zero. Miners would use their computers to generate Bitcoin. By May of 2010, the first transaction for Bitcoin was made. A man named Laszlo Hanyecz offered online, 10,000 Bitcoins to anyone that would order him two pizza's. The two pizza's from Papa John's cost approximately 30$, which set Bitcoin to a value of 0.003$. A little over a decade later, Bitcoin would surge to amazing heights.
The Pi network is being rolled out in phases, and is expected to have a tradable marketplace for Pi by the end of 2021, to mid 2022. In the meantime, "Pioneers" (Thats what they call Pi enthusiasts) are able to easily mine Pi on their mobile devices, without any worry about their phone battery being drained or reduced operating speeds. This is because Pi mining is done from a central location, and users connected to the network are distributed these newly mine Pi tokens.
To connect to the network, a person simply downloads the app to their phone, chooses a username, and has the option to link their phone number as a security measure to prevent spam bots. Doing so will result in higher hourly rewards. Users can set their account to "view ads" or not, but the ads do help contribute to the developer team, and its only one ad per day. Still, you have the option to block these ads.
While I don't expect the value of Pi to skyrocket on the day the Pi marketplace opens, I do think there will be a valued use in unbanked areas of the world were approximately 4 billion people worldwide have limited or no access to banks, but whom have access to phones. If you've been paying attention, you realize that in these regions, phones and commerce are tightly knit together, as a payment system.
To join the Pi network, you'll need a referral code.
To claim your Pi, follow this link https://minepi.com/DocCrypt0 and use my username (DocCrypt0) as your invitation code. (Copy and Paste for accuracy).
Pi, An Experiment on the Creation of Value
By DocCrypt0 | Crypto-4-Beginners | 25 Mar 2021
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