WHAT IS PI
Cryptocurrencies are new form of digital money that are 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.
Is this real? Is Pi Mining a scam?
Pi Mining is legit not a scam. It is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency.
How Does This Pi Mining App Works? How Do I Earn More Pi?
This app allows you to earn Pi by making simple contributions to Pi’s community. The more you contribute, the more Pi you earn.
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 “Core Team” page in the main menu of the app.
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.
Do I Need To Leave The App Open To Mine? Does The App Drain My Phone Battery or Data?
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 lightning button, you can even close the app and you will continue to mine Pi.
So how can you mine a cryptocurrency without draining your battery or data?
Instead of burning energy as proof of work cryptocurrencies like Bitcoin do, Pi secures its ledger when members vouch for each other as trustworthy.
This forms a network of interlocking “security circles” that determines who can execute transactions. This novel approach allows crypto mining on your phone by leveraging your existing social connections, with no financial cost, no battery drain and a light footprint on the planet.
Read the technical section in our White paper for more accurate and detailed explanation.
My Say on Pi Network
Pi Network has crossed 23 million miners across the globe last month and today it would have crossed 25 million. Looks like it has reached more than 175 countries.
With such enormous spread and rapid growth, the future currency for mass adoption will be the Pi Network. Financial institutions across the globe will see as well as feel the impact and monetary authorities will try their means to deviate people from using Pi Network.
Today there are around 11,145 different cryptocurrencies as per the report from ‘The Economist.” Unfortunately, none of 11,145 different cryptos can be used daily for buying goods and services, rather cryptocurrencies are used to buy another cryptocurrencies.
This depicts that cryptocurrencies need to integrate into our day-to-day lives for payment of utility bills, purchase of goods and payment to services delivered, and so on.
Who is The Owner of Pi Network?
The brain behind Pi Network is Stanford PhDs. Today, billions from the globe use the products of tech giant companies like Google and YouTube of which the founders are all from Standford graduates.
Standford graduates have never stopped amazing billions of users across the globe and surely one of the assurances for Pi Network is being the CT is from the University of Standford.
And the Google Playstore bristles with different apps where cryptocurrencies can be mined in which the ideas were all copied from the Pi Network.
Some of their white papers are copied from Pi Network even word by word. Dr. Nicolas replied once in a developer forum that “imitation is the greatest form of flattery.”
Although we can mine other cryptocurrencies on the phone, as a miner, we mustn’t use the same user credentials and CT has repeatedly announced on Pi’s front screen not to share the passphrase. If shared mistakenly, it is important to generate a new passphrase before manner.
Although other cryptocurrencies are available on iOS and Google Playstore, none of them can compete with Pi Network and I am confident after reviewing their white papers and algorithm used. Some apps have ads to watch so that they generate income although the project may or may not succeed in the future.
Now September 30 is approaching nearer, I think the pioneers across the globe should not miss voting the utility apps built during Hackathon. I think CT will announce this soon as September 12, as a deadline is over.
Having utility apps in Pi Browser will SHOWCASE THE POPULARITY OF PI COINS in the coming decades.
Happy Mining. Never miss mining when it is free. Avoid having double accounts. Follow CT instructions and never believe thousands of speculations available on other platforms.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 23 million members worldwide. To claim your Pi, follow this link Pi Network and use my username (Nairablink) as your invitation code.
Identity Verification (KYC) on Pi Mining
- K = Know,
- Y = Your,
- C = Costumer
KYC is a verification process that identify human users as well as bots.
The purpose of KYC is to give each Pioneer a chance to prove his identity by National ID documents. In this way, Network would be free of fake accounts and this will make easy secure transactions.
How to do KYC on Pi???
When you get a chance to do KYC, you’ll receive a notification on main page of pi app that notify now you can do KYC after documentation. (Usually, Pioneers get this notification randomly. It depends on your contributions to Network)
Following Documents Are Required (only one) For Pi Mining KYC:
1) National ID Card
3) Driving License
You will eventually be invited to KYC by Pi Network Core Team.
How do I know if I got KYC
KYC invitation will pop up on the main screen.
If any of your friends as you the following questions you should be able to respond:
What is Pi?
🔸️Pi is a new cryptocurrency that you can earn from your mobile phone.
How does this app work?
Hit the button every 24 hours to start earning Pi.
How do I earn more Pi?
You can boost your earning by inviting people using your invitation code (Nairablink is my own code).
After 3 days (3 mining sessions of 24 hrs) you can boost your earning more by creating a security circle.
What are security circles?
Security circles are groups of 3-5 trusted people built by each of Pi’s members.
Security circles secure the currency by building a global trust graph that prevents bad actors from executing fraudulent transactions. So only add people you know and trust into your security circle.
What is the value of Pi?
As of now, Pi holds no value as the project is still in development.
How can I withdraw Pi?
You cannot withdraw Pi for now.
When can I withdraw?
You will be able to withdraw Pi or exchange Pi for other currencies in Phase 3 of the project when Pi transitions to a fully decentralized blockchain.
As wit other digital coins at launch, the Pi cryptocurrency value is likely to start at a relatively low level against the US dollar and rise as its adoption grows.
What do some of the price forecasts suggest?
On 3rd of August, Coin Data Flow estimated the price of Pi at $1.32 to $1.35. It projected that the price could rise to $1.48 by 2025 if the coin grows at 1% of the average annual rate of bitcoin, or reach $224.89 if it has 100% of Bitcoin’s previous average annual growth.
On 18 March, Digital Coin’s Pi Network price prediction 2021-2025 projected that the coin’s price would rise from an average of $0.0107 in 2021 to $0.0127 in 2022, and $0.0212 by 2025. Over the longer term, it predicted the Pi price to average $0.0319 by 2028.
To Ensure That You Get Your Pi Coins When It is Launched, Follow The Steps Below:
1. Verify your Phone Number, Password and Facebook (Optional)
2. Make sure all the People you’ve invited through your referral code have all Registered.
3. All Coins gained through the people you’ve invited would be lost if they fail to Register.
Step By Step on How To Verify Your Phone Number on Pi Network?
Below are the steps to verify your phone number of Pi Network
- Click on the Menu at the top left corner of the app.
- Scroll down to profile..
- Select phone verification.
- Click add or verify.
- Click on start.
- Select SMS (It will take you to your sms box).
- Edit the foreign phone number if it comes with double hash sign (//) delete only the two //.
- So it looks like this (+1 6508220314).
- With your code e.g (6162) don’t delete any digit, just send it to the foreign phone number provided.
How to know if your Phone Number is Verified For Pi Mining?
To know if your number is verified, go the menu again and scroll down to profile you will see if your number is checked verified, if not use the above steps to do so.
Don’t send again, your phone number has been verified.