What is Pi?
Pi Network is a relatively new cryptocurrency that you can “mine” from your phone.
The team behind Pi network is not promising an overnight moon - or any moon at all for that matter. The network is an experiment, with the simple aim of making crypto accessible to all. This core tenet of inclusiveness is what gives Pi its competitive edge.
Most importantly, the application does not drain your devices. You do not need to leave the app open to mine. Pi does not affect your phone’s performance, drain your battery, or use your network data. Once you hit the mining button, you can close the app and you will continue to mine Pi.
Pi will eventually be tradeable on exchanges after it launches its mainnet, at which point we will enter price discovery.
However, based on current estimates, Pi could initially begin trading at around $0.40 per Pi. This is significant considering the base mining rate is currently at around 0.25 Pi per hour, with no referrals.
There are several factors operating in favour of Pi having significant value in the future:
- Mining Rates are Slowing - As the network gains in popularity, the rate at which Pi is mined will decrease over time until ultimately no further Pi coins will be minted.
- Team - Pi was founded and is developed by a team of leading cryptocurrency experts from Stanford, headed up by Dr Nicolas Kokkalis (profile below):
- First Mover Advantage - Pi is the first truly mobile cryptocurrency and has a rapidly expanding network of over 7 million users.
How Do I Start?
Anyone can start mining Pi a few taps by downloading the mobile application from either the IOS or Google Play store. With very little (if any) downside, and a large speculative upside, there appears to be no reason not to engage with this exciting project.
To start mining, you'll need an invitation from an existing member of the network.
Feel free to use my referral code "Hipdibby" - or, if browsing on mobile, you can use the direct referral link here.
Happy mining and good luck!
*The author is not affiliated to the Pi project and is not offering financial advice in relation to use of the Pi network.