Last week my brother shared a link with our family.
He told us
there is this new digital currency developed by Stanford PhDs and you can mine (earn) right from you mobile phone. It was created in 2019 and they are going to launch the main net at the end of this year. The value is starting at $0 just like BTC in 2008. This could be huge and it costs nothing. Mining is just pressing a button and inviting others. Let's Go!
He was pretty pumped about it. My husband and I together began looking over the website and watching videos of those who have been mining for awhile now. We felt it was a project worth supporting so we signed up and are now Pioneers!
Once we realized there is really nothing to lose but a few seconds of your day to push a button it was an easy decision. We don't know if this project will be a success or a flop but it is pretty exciting witnessing the developments and joining in on Phase 2.
Phase 2 - Testnet: Pi core team will host several nodes on the testnet, but will encourage more Pioneers to start their own nodes on the testnet.
Here is the Testnet Blockchain.
Phase 1 was on boarding and distribution of the currency. As of today they have crossed 14M engaged Pioneers.
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.
Pi Network
It's actually kind of fun watching all of it unfold and being apart of the beginning stages. I'll talk here in a bit about what to expect for Phase 3.
Here is the Mission and Vision statement directly from their white paper:
Our Mission: Build a cryptocurrency and smart contracts platform secured and operated by everyday people.
Our Vision: Build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency
Pi Network
The Pi Core Team set out to find a way that would allow everyday people to mine (or earn cryptocurrency rewards for validating transactions on a distributed record of transactions). A design was introduced that would also be extremely user friendly and ideally enable mining on personal computers and mobile phones.
Pi Network
I really like that the app isn't intrusive and doesn't drain any battery power. With this you don't need any special or complicated equipment or even expertise to mine.
One thing they make clear straight on is that Pi is not free money. If you are looking to gain something short-term this project might not be your cup of tea. This is more of a long-term project whose success is determined by the collective contribution of it's members.
We are earning free Pi by helping secure the currency and growing Pi's trusted network.
This brings me to another point. If you decide to join you become a Pioneer by signing up (through member invitation) with your mobile number and real name. Soon they will be rolling out the KYC (know your customer) in order to block out any bots or fake accounts so that we the real users will benefit.
Please make sure to review your name (found at the bottom of the apps home page) making sure the name you enter matches your goverment/legal documents to prove you are a human and not a bot. You will lose out on your Pi if this information is not accurate. For instance I entered my middle name because it is on my birth certificate, drivers license and social security card.
You also will have to verify your mobile number. I do like that they implement these security features to keep a trusted network.
Every 24 hours you open the app (you can choose the option for the app to send you a daily reminder message) and hit the green lightening button that you see below in the screenshot. That is literally all you do. You don't even have to keep the app running or leave your phone on once you start mining. As long as you come back every 24 hours you will keep earning your piece of π!
Underneath the lightening symbol it displays how much π you are earning per hour. As you can see I am currently earning .22 π/h.
At the very top it displays how much π I had at the time of writing this post (the cover photo displayed how much π I had at the end of the first day of mining). I have been mining now for 3 days.
Every year on March 14th (3.14) the Pi Network celebrates Pi Day. They shared a video of the Core Team and also some of the artwork that has been created by their members.
The more you contribute the more Pi you earn. You have the option to invite your friends and family (creating security circles) and earn more Pi per hour.
The thing about this is that you don't have to. Whether you bring people on or not you will still be earning as long as you mine daily. I like that you don't have to get all stressed out and worked up from trying to find people to add on. It's totally up to you how much you decide to contribute.
You can literally just sign in, click the button everyday then go about your business. Some prefer it this way since they are too busy with other things.
There is more detailed info about the Roles on their website if you want to read further.
Note: In May of 2020 the Pi platform started running adverts to help fund the various costs and make it self-sustaining. The good thing about this is there is an option to turn them off. However if this will help with the development of the project and continue enabling us to earn free Pi I'm down for supporting this.
At the end of this year in 2021 they are planning to launch the main net.
When the community feels the software is ready for production, and it has been thoroughly tested on the testnet, the official mainnet of the Pi network will be launched. An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored. After this point, the faucet and Pi network emulator of Phase 1 will be shut down and the system will continue on its own forever. Future updates to the protocol will be contributed by the Pi developer community and Pi’s core team, and will be proposed by the committee. Their implementation and deployment will depend on nodes updating the mining software just like any other blockchains. No central authority will be controlling the currency and it will be fully decentralized. Balances of fake users or duplicate users will be discarded. This is the phase when Pi can be connected to exchanges and be exchanged for other currencies.
Pi Network
It would be awesome if they reach their goal and we see this actually roll out into the exchanges.
Like with any other public blockchain, Pi’s blockchain will also allow in-app/external wallets to hold Pi and transact with it, by submitting transactions to the blockchain directly. This is a functionality that we have currently scheduled to be provided on the Phase 3 of the project. You will also have the option to take full ownership of your private / public keys (you will be able to store the secret keys safely on your phone locally, in a non-custodial way). Pi aims to be much more accessible to everyday people which is why we are trying to build this integrated interface. We’ve chosen this phased implementation to make it easier for everyday people to use. We are still in our early days, and are excited for the road ahead of us.
Pi Network
Whatever is to come we have already decided to just hodl our Pi coins for the long haul. We could be apart of something really big and it could be worth the wait.
I read about many people being upset with themselves for being skeptical about BTC and wish they would have just given it a shot in it's early days. I feel this is one of those times to do that especially if you have nothing to lose but only gain.
If you feel a project has good potential AND it's free, why not join in for the ride and see what happens.
Are You Going to Grab Your Piece? 😆
As briefly stated you can only join in by member invitation.
If you are interested and wanting to receive Pi you can use my invitation and join me in mining...
To claim your Pi, follow this link https://minepi.com/CroSheille and use my username (CroSheille) as your invitation code.
Important: You cannot sign up from multiple mobile devices. Every person can only sign up once through an invite from a member.
I am curious to know what you all think about this project and if you'll give it a Go?!