Life of PI

young-boss-karin (56)in Project HOPE • 3 years ago

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I've become a Doubting Thomas where information regarding cryptocurrency is passed to me from sources I don't believe have the proper knowledge of cryptocurrency.

This is with good reason. People dwell on hearsay way more than they actually take the pain to search for information. And searching isn't exactly a pain.

December last year, I had two friends introduce me to a pi network. I was practically forced to signup and start "mining". I had no clue what I was doing but my friends said it would become money one day.

I didn't buy that. I think I did the mining thing to please them for 2 days and trashed the app.

I had totally forgotten about this incident until a friend called me a few days ago and told me she had noticed that I was on the network and she knows I'll have better information for her.

I had no idea what she meant, so I asked someone else and I was reminded.

I'm usually the carrier of information, so I can't blame her for expecting me to know.

So, when I told her I never researched it, she gave me the most low down information I had ever heard.

She said, "pi is going to be the new bitcoin". I was like 'oh wow.

I don't buy into vague information so I finally decided to get proper information about this.

What is Pi?

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Pi is a new digital currency that has not been fully launched.
Pi was developed by some Stanford graduates whose aim was to make crypto mining easier and accessible through their mobile application.

Since its launch in 2019, its user base has reached 14 million in March 2021.

Pi has had to undergo a constant halving in order to protect its scarcity. As their users increased, they kept halving from the initial rate of 1.6 pi/hour to their currenct rate of 0.4 pie as they reached 1 million users.

Pi is currently on their second phase. The coin will officially hit the market when it reaches its third phase. This is the point where it will be listed on numerous echange platforms and will be available to be bought and sold.

Pi currently works in a Multi Level Marketing format, where individuals can only get on the network through a referral. Although the developers claim the main rewards are earned through the mining process, this format makes people quite skeptical about the network.

Price Projections of Pi

Some platforms like digitalcoinprice.com predict that the price of Pi might rise from its current average of $0.0127 against the USD to $0.0212 by 2025.

Other investors believe that if Pi launches in 2021, the bull case could see Pi reaching $1.

However, the future of this MLM looking coin is still unclear to many and their developers state that the launch of the third phase largely depends on progress made on the second phase.

And like the short story I began with, it's obvious a lot of these 'miners' have no clue what they're up to. But they keep the faith.

I look forward to seeing what the future of pi will be.

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