Pi Network represents an excellent example of a network created by 0, with the help of users, and with the required care in everything. In particular, this token is obtained with cloud mining, without the need to use physical hardware to mine coins. The only action to be done in order to earn is to press a button within the app, which resets every 24 hours. I have been monitoring the activity of this token for some time, as well as Bee Network (code: cryptosaso), which I will talk about in a future article. But let's get back to us.
The functioning
How does this token work? Its algorithm, Stellar Consensus Protocol, together with the second Federated Byzantine Agreements algorithm, allows for high reliability. This algorithm is also used on stellar (XLM).
The app is very simple to use: every 24 hours you have to press a button which is used to start another mining session. Also, by creating a Security Circle, we will get another 0.10 Pi (along with 0.10 pi as a base reward). It is possible to further increase the rewards by inviting other users to join Pi Network (you can find my link HERE, if you want to join my network). Finally, there is a mode called Node which allows you to create a node within the Pi Network, which will be very useful in the future in order to keep the network stable.
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The Mainnet
Mainnet creation and preparation is an essential process that will allow everyone to join the Pi Network by buying, selling and trading this token. The creation of the network is a complex process that requires a lot of resources, and above all we must avoid that the "pump and dump" users ruin the experience with this token. If you don't understand what I'm talking about, it is the same users who have made the price of DOGE rise to an all-time high and then abandon the boat without HODL, immediately selling their DOGE at a ridiculously low price. In fact, all those who bought DOGE during the bull run were burned by a chilling loss, as they were users looking for an easy profit. Easy earning is a nasty scourge that afflicts both the crypto world and the stock market, as 90% of these users have little knowledge of the market, don't get informed, and invest emotionally. How did I try to avoid all of this? Staking DOGE with 7% interest using Stakecube.
# When it comes to money, and especially investments, emotion has to be eliminated. #
In the crypto world these are sacred words, as in one day you could go seriously negative and the next day recover the loss and make money. If you think the Pi Network is not full of these individuals, you are very wrong. You must aim to become a whale after targeting a coin, not a P&D (pump and dump man). The Mainnet allows this, as Pi Netwok has activated a coin lockup system, to earn up to 550% currently (you can earn more after the Mainnet is unlocked). This is why the Mainnet is important. If most of the tokens (90%) will be blocked through the Preselect Lockup, after launching the Mainnet and having obtained the listing in at least 5 exchanges, we will ALL have a 6-figure gain at least.
How to get great gain
In my articles I have always encouraged everyone to invest, and in the crypto world one word is worth 1000 articles, HODL. In fact on Pi Network, I currently hold almost 5000 PI, and they are very few considering some screens that were circulating on the net (account with about 45000 pi a few years ago). To get an exaggerated gain of PI, I will use the Preselect Lockup function which will allow me to earn up to 550% at the beginning, after the launch of the Mainnet a little more, as it will unlock a new multiplier (200x). The catch? obviously there is.
There is a screen dedicated to the balance sheet with the Mainnet, which shows respectively:
- The unverified balance sheet
- The balance transferable in Mainnet
- The wallet balance
- The frozen budget
Trying to configure everything from the settings, you get 90% of the transferable budget (100% seems not configurable at the moment, as saving back to 90%) and the duration of the block, which I have previously set at 2 weeks as I want to exploit a very high percentage of interest, given that my coins will remain blocked for 3 years when I configure the duration of the block to a maximum, or 3 years.
As things stand I get a measly 0.20 PI per hour, while:
- with a 2-week lockup at 90% I get 24.73% interest
- with a 2-week lockup at 100% I get 27.47% interest
- with a 6-month lockup at 100% I get an interest of 137.47%
- with a 1-year lockup at 100% I get 274.74% interest
- with a 3-year lockup at 100% I get an interest of 549.48%
By unlocking the last multiplier, you would get over 1250% interest. A HUGE result.
N.B. By "interest" we mean the increase in the mining rate. The percentages between the writing and the screenshots are different as the article was written in different periods.
In my case, I would obtain a mining power equal to 4.56 PI / 24H, obtaining in 3 years about 5000 PI, not to mention that I will be able to block the remaining PI contained in the unverified balance at a higher rate, multiplying the mining power. In any case, a victory for all. When 1 PI is worth at least $ 1, I will make a profit of about $ 5000, without having made any effort or having used who knows what machines. Furthermore, by the time the Pi Network is truly mature, the currency of the coin could soar as high as $ 10, with a profit (currently unrealized) of around $ 50,000. Not bad right? A well thought-out plan, on the other hand, everything will depend on the token adoption rate, and on the users who decide to go long on this token and become a whale. This would allow you to stake part of the coins, and be able to sell a small part of the coin at a time when the price reaches a maximum.
Useful Tips
Pi Network will stop issuing coins sooner or later. Precisely when a new milestone of users is reached, the mining rate is halved. So if you have read the article so far, my advice is only one: sign up now, and start mining and getting your IPs right away. Furthermore, I did not mention the fact that the possible increase in mining rate is GREATLY influenced by the completed mining cycles (in my case 559; currently 629) from which I extracted the various percentages of interest just above. So the earlier you start, the more chances you will have of getting a high mining rate after the Mainnet. In addition, the developers of Pi Network ALWAYS recommend to mine as much as possible as the reaching of a large number of users (up to 100 million) it will no longer be possible to mine PI. So if you are not registered, you can find the link HERE.
Final Conclusions
Pi Network is finally becoming a reality. The creation of a Mainnet is the first sign of constant activity on the part of the developers. The second step will be to create a link with the world outside the network, allowing the exchange with USDT and BTC in at least 5 exchanges to allow diversity and trading volumes, and greater exposure to the public that does not yet know this token. This development method that uses Pi Network and also Bee Network (code: cryptosaso), allows you to fully explore the ecosystem, understand how it works, and support the Network if you deem it appropriate.
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