Now there's more to mining for cryptocurrency on your mobile phone. There are a few options out there that seem similar at first glance.
Lets talk about three of the top six.
- Pi Network
- Bee Network
Like mentioned before, they all seem to be quite similar, but there are huge relative differences.
The Pi-Network was released on Mar 14, 2019 and have already halved six times. The Pioneer rate (basic) is now at 0.10 Pi per hour. Of course the more people you bring in, will in fact boost the over all mining rate. (I will go over this in a follow-up post!), Has their White Paper available to read.
The Bee Network was released on Dec 3, 2020 and have already halved 2 times, bringing the mining rate to 0.4 Bee per hour. And the greatest thing about this is that they are a long way off from the amount of user downloads that the Pi-Network has. And, just like Pi, the more people you bring in, the higher the mining rate is on the Bee Network. Has Their White Paper available to read.
Spotter was released in 2020, by a group in Cagliari, Italy: Taak Srl Semplificata. There is very limited information on the use of the app. As well, It doesn't delineate what their true intentions are. The mining rate for Spotter is (with my account) 0.87 Sp/Minute. Unfortunately, there isn't a fundamental breakdown of the current mining rate. I have three people invited and should've increased the mining, but it doesn't reflect it in the rate. However, with limited information entered to get started, there isn't much an outside entity could even learn about your profile.
HERE ARE THE MAIN DIFFERENCES:
What you do to actively mine?
- Both the Pi Network and Bee Network mine on a single click of the activation button once every 24 hours.
- Spotter mines for an hour at a time, but calculated mining per minute.
How is your mining rate calculated?
- The Pi Network has a three category mining rate: Pioneer, Contributor, and Ambassador. ALL 3 are active and operational
- The Bee Network has a three category mining rate as well: Miner, Referrer, and Verifier. However, only 2 are active. The Verifier category will activate in the NEXT phase.
- Spotter earnings have a basic mining team. You and anyone you bring in, SHOULD increase the mining rate. (I don't see in on my account). And the mining rate doesn't calculate properly.
How is the transparency?
- Both Pi Network and Bee Network both have their "White Paper" on their websites and/or apps to see exactly what their intentions are. Both have an extensive FAQ section.
- Spotter has approximately 2 lines of text per category. It has a rudimentary FAQ section and not much more information.
I could go on and on about the differences in each of them. Some are subtle, the more important differences have been mentioned here.
BUT HERE IS THE MAIN QUESTION... WHAT MATTERS THE MOST TO YOU?
Does "Transparency" matter that much if you aren't paying for the app or to mine? Does the amount of times you need to click on "mine" matter, if you are mining per minute instead of per hour? How about this... What if you mine all three? What if the time it takes to mine per day takes less than a minute per day?
So for arguments sake: it takes 1 minute per day multiplied by 365 days... is of course 365 minutes, which is just over 6 hours in that year to mine.
And now we'll put it in perspective:
- Pi Network - 6 Pi per day x 365 days = 2,190 Pi/Year
- Bee Network - 9.6 Bee per day x 365 = 3,504 Bee/Year
- Spotter - (Mining 10 hrs a day) .015 Sp per minute x 10(per day) = 9 Sp per day x 365 = 3,285 Sp/Year
Do the math. If any one of them reach a third of what Bitcoin's value is at, would you mine them? I am... just in case one of them makes it! Do you know why?? BECAUSE IT IS FREE TO MINE!!! This is like saying you wouldn't take Free Stock in Apple, Google, Berkshire Hathaway when the companies just formed!!!
- Pi Network - 2,190 x $10,500 = $22,995,000.00
- Bee Network - 3,504 x $10,500 = $36,792,000.00
- Spotter - 3,285 x $10,500 = $34,492,500.00
Now, Are you really willing to pass up the FREE opportunity to mine these cryptocurrencies (EVEN THOUGH THEY ARE WORTH NOTHING NOW)?
Should you want to mine any or all three of these, here are my invite codes:
- Pi Network - HMFIC62
- Bee Network - hmfic62
- Spotter - HMFIC62
REMEMBER, The invite codes are "Case Sensative"!!