Is Pi Network scam or what?

Pi Network Crypto

Last year someone introduced me a new cryptocurrency called Pi. The idea is to "mining" using your phone and click the mining button every 24 hours. I thought at first is this a scam or what? Let's take a look at Pi Network.

What Pi Network Is About?

Pi is a new cryptocurrency for and by everyday people that you can “mine” (or earn) from your phone. Cryptocurrencies are a new form of digital money that is maintained and secured by a community, instead of by governments or banks. Today, you can mine (or earn) Pi by helping to secure the currency and by growing Pi’s trusted network. While most cryptocurrencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.

How Does This Pi Mining App Work?

The more you contribute, the more Pi you earn. To start earning Pi, check in every 24 hours and hit the lightning button to start mining. Once you are mining, you can boost your hourly rate by inviting trusted friends and family to join the community. After 3 days of mining, you can boost your earnings more by building your security circle, which contributes to the overall security of the network. Keep in mind, earlier members of the network mine at a higher rate than those that come after them.

Is There Value of Pi?

Today Pi is worth approximately 0 dollars/euro etc. similar to Bitcoin in 2008. Pi’s value will be backed by the time, attention, goods, and services offered by other members of the network. By pooling our attention, goods, and services around a common currency, Pi’s members seek to capture more of the value that typically goes to banks, technology giants (e.g., Facebook, Amazon), and other intermediaries. Today, we are laying the infrastructure for this digital currency and marketplace by distributing the currency, building the community, and developing the technology to ensure its security.

Is the PI Network Another Scam or Legit?

Pi is not a scam. It is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency. Pi’s core team is led by two Stanford PhDs and one Stanford MBA, all of whom helped build Stanford’s blockchain community. We cannot guarantee that the project will succeed. However, we do promise to work our hardest to make our shared dreams a reality, while maintaining the highest standards of integrity. You can learn more about us in the “Core Team” page in the main menu of the app.

I recommend reading their white paper, but using your own judgment will you want to spend your time mining Pi. I will not share my own referral link to this article, but in reddit you will definitely find a link to get involved in mining Pi.


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