![]() ![]() Currently there's a testnet running v15 with 15k nodes. Pi Network is using stellar core for blockchain software. ![]() I'm no economist so I don't know if that's feasible. 3rd party developers will make apps that use the cryptocurrency and an economy will be kickstarted by a large amount of users having some currency. This is happening because Pi want the majority of the currency in the hands of users as soon as possible. This is a process to determine allocation of mainnet Pi. What happening in the app is not the cryptocurrency. But since it has unlimited supply as of right now and since there are 15 million people using it and having thousands of it, that means that even if there will eventually be a pi blockchain, you will need millions upon millions of pi for a single dolar.īad marketing aside, Pi is a cryptocurrency in development. The only good thing about pi is that you aren't going to lose anything by participating.Įdit: Best case scenario: Pi becomes a real crypto. Not only is that going to be extremely complicated to do, but it is also going to mean that pi coin will be almost worthless and it will become impossible to mine it with one click a day(which will defeat it's purpose) because that's not how gas fees work.ĭevs are curently runing some 'tests' on their testnet but that's a pointless waste of time since even if they manage to make pi a propper crypto currency, it's gonna be worthless. Basically since pi coin right now isn't a crypto currency, it's just like a score in an online video game, if the developers want to make it a decetralized crypto currency, they are gonna have to develop a new crypto coin, call it pi coin, generate millions of wallets and give them out to users, delete the current pi coins they have and send the exact ammount of PRE-MINED new pi coins to their wallets. That transition is what I think it's the worst part about this. There are millions of users with thousands of pi coins on their accounts and the supply is 'unknown' but right now, it is basically infinite meaning that pi is trully worthless. Developers are open about it, since of course they can't hide it, but they are constantly promising that when they 'transition to a blockchain' pi will become valuable. Basically what's happening is that on their servers, developers are just adding some credits to your account, the same way a video game copany adds virtual money to your online game account.Īnother issue is that pi doesn't have a value. It has nothing to do with mining since you are not providing hash power or liquidity. The app has a button that says 'click to mine pi' and by clicking it, pi coins start flooding your 'wallet'. The whole 'pi network' is on the copmany's servers. Pi isn't a crypto as they say it is, it isn't decentralized and you can't mine it. Pi doesn't have a value and the supply is 'unknown'(unlimited) However, there are a bunch of issues with this 'crypto currency': The developers use a lot of buzz words that are used in crypto space like 'mining', 'halving' and 'crypto wallets' and what not and people are easily falling for it. It seems super easy and the developers are promising that pi is going to change crypto space forever by making it more accessible and easy to use, and saying how it is the next bitcoin but better and that it's better than other crypto currencies since you can mine it without an expensive computer, all you need is a phone. They even have a subreddit called r/PiNetwork Open the app once every day and click the button to start 'mining' pi If you don't know what it is and how it works pi is a really popular, kinda new 'crypto currency' which is really easy to 'mine' with your phone, and here is a quick recap of what a pi user does:ĭownload the pi network app on their phone(or pc)
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