The Pi Coin is one of the most popular “cryptocurrencies” around. The coin, yet to be launched, has millions of holders worldwide. In addition, millions of people have downloaded its Android and iOS app, who hope to cash it big once the coin is listed. In this article, we will look at whether the Pi Network coin is worth your time.
Pi Network is a controversial project seeking to solve some of the biggest challenges Bitcoin and other proof-of-work cryptocurrencies have. The challenge is that the process of mining these coins is extremely difficult and expensive. For example, you need thousands of dollars to mine Bitcoin, which explains why most miners are large companies like Riot Blockchain and Hut 8 Mining, among others.
Pi Network aims to solve this challenge by letting people mine using their smartphone. All you need to do is to receive an invite, download the application, and run it. You will join its mining when you simply log in to the system. When you click a button online, new Pi coins are mined. In addition, you can get more coins by viewing adverts in the system.
Pi Network has been a popular cryptocurrency. For example, its Android application has seen millions of downloads. And most of its users have left extremely positive reviews. Similarly, the iOS app has seen many users who have left a positive review. This is mostly because they see value in their coins.
A common question among Pi Coin holders is what the token is worth. Unlike other cryptocurrencies, it is extremely difficult to estimate its value. That’s because PI Network coin is unavailable in exchanges like Coinbase and Binance. As such, it is not possible for the market to establish its value. It is not also possible to do a Pi Coin price prediction.
Therefore, at this stage, we believe that Pi is a worthless “cryptocurrency.” For one, it is not clear whether the token will ever be listed. For now, its developers seem happy making advertising cash in its ecosystem. Also, we believe there will be more sellers than buyers when the token finally goes public. This explains why my colleague recently named it a well-orchestrated scam.
This post was last modified on Jul 18, 2022, 09:15 BST 09:15