I post this article first on read.cash, and you can find it here.
Before I share my opinion on Pi network, I will give you the invitation code first, because invitation code is necessary for new users to join the network. Yes, its totally free, and all you need is an invitation code and a facebook account (or phone number/apple id).
My invitation code is: svsd20
You can download the app (Pi network) form apple store or google store (or you can click this link form your phone), and then use my invitation code and your facebook or phone number to register, and that will take less than 2 min. Now, you are ready to mine Pi! without drain your battery!
Finally, let's talk about the project.
Why this project valuable?
it is super easy to mine
all you need is tab a button once a day (every 24 hours), and then you could close the app and let it grows! what's more important is the software does not drain your battery! super easy!
huge users base
we all know that one of the most important factor for a crypto project to success is the users base or the ecosystem, or we call it consensus. Why bitcoin worth that much? is it because of its fixed supply? no, not the main reason because it is very easy to set. with the ETH and other public chain, we all could launch a new coin called "aitcoin" with a fixed supply at whatever amount, like 1 million. Will the "aitcoin" worth anything? So the real reason that bitcoin worth that money is it has the strongest consensus among all cryptos, and the larger the users base, the stronger the consensus.
so how many users are using Pi network? it just crossed 10 millions this Dec (still growing fast)! Do you know that ETH only have 130 million unique address? litecoin only have around 2 million unique address? with this amount of users, Pi network is very likely to become top 30 or even top 10 cryptos (of course it will take times)! Note that the mainnet of Pi network is not launch yet (should launch within a year), so all the users are miners and there's no price for Pi yet (try your best to collect Pi before the mainnet launch).
real applications
with over 10 million miners currently, Pi network has huge potentials in the future. The most obvious one is it could be used as a payment method, and only this single application could bring Pi network huge value. But its definitely not the only application of Pi network, and you could study their white paper to get more idea. I have to say that this ecosystem is full of possibilities, for instance, they are planning to add market place within the app. Again, the value of the ecosystem comes from the users base, and they could add more features into the app in the future.
One thing I have to mention is that to mine Pi on your phone, you have to do KYC, that means you have to submit your real name (same with your official id) to the system, but don't worry, you could use a nickname to display to other users.
Why they need a KYC? that is prevent multi-account mining: by doing KYC, one person can only have on account to mine Pi, which maintain its scarcity.
The base mining rate will decrease as the users base increase, it just halved to 0.1 Pi/hr as the user number crossed 10 million.
A huge potential cryptos with no initial investments (hence, no risk), just tap the button once a day and then you could leave it to let the digital money grow by itself, so what are you waiting for?
