What is Pi Network?
Pi network is a cryptocurrency project whose goal is to make crypto mining accessible to all users. The centralization of first-generation digital currencies such as Bitcoin has made them inaccessible to everyday users. Thus, a Pi miner will enjoy the benefit of improved accessibility, unlike a Bitcoin miner.
The Pi network was developed by graduates from Stanford University, and it allows users to mine coins from its mobile app. The transactions are validated on a distributed record during mining. Pi is powered by blockchain technology.
Phase 1 of the project was started in 2019 on Pi day, 14 March, and a free Pi mining phone app. As of June 2019, the Pi network platform had attained over 100,000 active users. The project was more popular in August 2019, as shown in the following chart:
Phase 2 of the project was launched a year later, and the Pi network platform attained over 3.5 million users. The Pi app started to run ads on the Pi network in May 2020, and these ads provided funds for financing the Pi network project. In March 2021, the Pi network had attained 14 million users after crossing the 12 million mark in February.
The Pi network platform provides an infrastructure on which Pi Coin runs. Just like other cryptos such as Bitcoin, there is a need to protect its scarcity. That’s why it goes through a regular “halving” process. The number of coins a miner gets for processing new transactions is reduced by half after reaching a milestone.
After the Pi blockchain attained 100,000 users, mining Pi coins was halved from 1.6 π per hour. It was again halved to 0.4 π after its user base reached 1 million, and again to 0.2 π after reaching 10 million. This trend is expected to continue to reach 0 after reaching 1 billion users.
During Pi cryptocurrency mining, the Pi node uses a consensus algorithm based on Stellar Consensus Protocol (SCP) to validate transactions and reach a consensus with other Pi nodes. Some Pi users see it as a way to take part in crypto from the ground up and earn profits in the future.
Can you buy Pi cryptocurrency?
If you were thinking of buying Pi cryptocurrency and store it in your Pi wallet, it’s worth noting that it’s not possible. Developers who’ve mined Pi cryptocurrency will only get an opportunity to exchange or withdraw their Pi crypto during phase 3 when the Pi network coin will have shifted to a completely decentralized blockchain. Pi coins cannot support transfer transactions during the testing phase. This will help prevent fake accounts from acquiring many Pi coins.
The Pi network wallet balances will be honored when the Pi network moves from the Pi testnet to the mainnet after the blockchain protocol becomes fully deployed. Thus, Pi coins are not available for trading on any trading platforms or cryptocurrency exchanges.
Phase 3 launch
After the launch of phase 3, Pi currency holders will gain full control of their public and private wallet keys and use Pi coins to purchase products and services on the Pi market and exchange it for fiat currency. Without having keys, Pi cryptocurrency holders cannot transfer or spend the money they have.
The Pi browser app is equivalent to a cryptocurrency wallet, and it is normally linked to the user’s Facebook account or phone number. Like other public blockchains like Bitcoin, the Pi network will enable external wallets to keep Pi coins and carry out transactions by submitting them to the blockchain. However, the developers are yet to release the source code.
Pi network team also introduced the Pi Brainstorming app in December 2020 to allow users to join projects, propose app ideas, and engage other users.
Many Pi users are accumulating the Pi coin anticipating that the value of the Pi coin will increase after the launch of phase 3. When the Pi currency value increases, it will bring good news to miners on the pi utility platform. You can also mine Pi on the Pi blockchain and anticipate pi value increases.
Although the mining rate of the Pi coins has been halved, users can connect with other Pi network miners using third-party pi apps. For a new user to join the Pi Network, he must have an invitation code from another Pi network user.
Some cryptocurrency lovers have already started to make Pi coin price predictions. In the next section of this article, we will be discussing how the Pi coin value will change when it starts to trade. We will take into account the PI coin price prediction from multiple sources.
Network Pi Price Prediction (2021-2028)
The price of Pi can be predicted in the same way as Bitcoin price prediction.
The response to the PI network crypto has not been bad. Like other cryptocurrencies being launched, the value of the Pi coin is most likely to begin at a low level against the US dollar and rise as it attracts and gains more users.
But what have some platforms said about the network price prediction?
Let’s get some answers.
WalletInvestor PI network price
WalletInvestor made a Pi price prediction for 2021 and beyond. They predicted that Pi token price value would fall from the price of $0.007 on average against the US dollar in 2021 and reach 0.000001 USD in a year.
However, in the long run, Wallet Investor thinks that PIcoin will crash and it’s pi network price predictions put it out of the cryptocurrency picture.
Among other forecasts, Digitalcoinprice.com made an elaborate prediction for the coin.
Pi price prediction by DigitalCoin
PiCoin price prediction by DigitalCoin indicates a bullish stance. The price prediction information represents a price of 0.0107515203 USD by 2021, 0.0127530226 USD by 2022, and 0.0149745492 USD by 2023.
Furthermore, a price of 0.0176986952 USD for 2024, 0.0211516743 USD for 2025, 0.0248291015 USD for 2026, and finally 0.0247953388 USD for 2027 can be expected.
Finally, for 2028, the PI cryptocurrency value is stated to be 0.0319333504 USD.
Final verdict on Pi Coin
Pi network is a smart contract network meant to offer public access to the use of cryptocurrencies.
Unlike Bitcoin mining, the Pi network cryptocurrency project aims to keep crypto mining accessible to all users. It will solve the problem of inaccessibility introduced by the centralization of first-generation coins like the Bitcoin digital coin.
The Pi network allows its users to mine coins from its mobile app and carry out transactions. The transactions are validated on a distributed record during mining using the Pi network app.
Pi goes through regular “halving” to protect it from scarcity. The number of coins a miner gets for processing new transactions is reduced by half after reaching a milestone.
When will the Pi cryptocurrency enter the cryptocurrency market?
The Pi cryptocurrency will launch during phase 3 of the Pi network development. The date of release has not been announced. Still, it will be determined by how the testing phase progresses and the listing of the digital currency on the cryptocurrency market exchanges.
What is the expected value of Pi?
Currently, Pi has no value, and it has not been listed on any cryptocurrency exchange platform. Although it’s hard to predict its value before launch, Pi network price prediction shows that the Pi network value will start at around 0.01 against the US dollar. If this Pi price prediction comes to pass, it will be great news to miners.
Is Pi crypto a good investment?
Currently, you can’t trade Pi cryptocurrency. If you think that the Pi network project will launch accessible crypto that doesn’t price out users each day, you can start Pi mining. You can also wait to purchase it at an exchange when Pi launches.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
How Much is Pi Crypto Worth? Unbiased Answers to 25 Questions About Pi Network
For the past two years, newcomers to the cryptocurrency industry have always been attracted to a project that has not been fully launched — Pi Network. How much is the Pi cryptocurrency worth?
Although the project is not yet officially launched as it has been in development since 2019 and is still in testing mode, there is already so much speculation about it.
This article aims at providing a complete overview of the Pi Network project as well as answering some of the major questions that investors have about Pi cryptocurrency. First, let’s see what this project is all about.
What is Pi Network Cryptocurrency?
Pi Network is a new cryptocurrency network that claims it was founded on March 14, 2019, by four Stanford graduates. The Pi network was created to decentralize and disintermediate finance to reach a wider audience than its competitors by basing its mining activities on smartphones.
This supposedly different strategy for the crypto industry was to ensure that users from all backgrounds can utilize the network as long as they have access to a smartphone and the internet, fostering inclusion.
The Pi Network app is easily accessible and available for download on both the Apple App Store and Google Play Store. The network has a referral system that ensures more users are added to the platform as mining sessions cannot be completed unless a successful referral is made.
Because of this ease of use and the referral system, Pi Network has seen its user base skyrocket, sitting at over 18 million users within two years.
However, although Pi Network is relatively popular, several people are still curious about the platform and how it works. Below are 25 of the most commonly asked questions about the Pi network.
25 Questions About PI Cryptocurrency Answered
The Pi Network project is reportedly being developed by the conscious efforts made by a team of four Stanford graduates, Chengdiao Fan, an anthropologist, Nicolas Kokkalis and Aurélien Schiltz, computer scientists, and Vince McPhillips, a business major.
Although Stanford University did not provide any of the resources for the project, the founders often emphasized the influence that their interactions with top Stanford professors had on the project.
Is Pi Cryptocurrency a scam?
At the moment, it cannot be said that Pi Network is a direct scam as users are not putting in any money on the platform. But in another way, users are getting robbed of their time and data spent performing several activities on the network that do not bring value in return.
How Much is Pi Cryptocurrency Worth?
The Pi coin is currently worth nothing. Investors are concerned about the Pi coin value or Pi network price since they want to earn from their investments.
However, the Pi network gathers millions of supporters based on a “promise” of immense wealth. Pi coins are currently not listed or traded on any exchange, both centralized and decentralized, therefore, they have no value.
How Can I Mine Pi Cryptocurrency?
The Pi platform boasts of offering users a simple and easy way to mine Pi coins using their smartphones. On the Pi app, users can mine Pi coins by simply pressing the “MINE” button on their dashboard. Each new account on the platform gets one free Pi ( 1π).
At the end of each 24-hour mining session, users will have to activate the next mining session by tapping the button again.
Why Do Earlier Members Earn More?
The Pi Network incentivizes its earliest members to reward their contributions to the development of the network by allowing them to mine at higher rates than new members.
Recognizing the importance of its early contributors, the Pi coin mining rate reduces as more people join the network.
What is the Pi Cryptocurrency Launch Date?
According to the Pi Network Whitepaper, Phase 3 of the project will be its most important period as it will see the launch of the Pi Network mainnet.
However, the Pi network launch date is nowhere in sight as project developers noted that the mainnet will be launched “when the community feels the software is ready for production, and it has been thoroughly tested on the testnet.”
The launch of the Pi Network mainnet is important because only then will the Pi coin be listed on crypto exchanges, allowing it to be traded.
Should I Continue Collecting Pi Coins?
It is true that the Pi coin currently has no value as it is yet to be listed on any exchange, but the project promises to deliver a lot of value to its holders, and especially, its early contributors.
Therefore, you can choose to continue collecting the Pi coins since it does not require much work or any money to mine, hoping that it will one day become valuable.
Pi Network enthusiasts have always related everything about the project to bitcoin in one way or the other. Although Pi coin tries to apply some of the principles of bitcoin, both coins do not operate the same way.
Pi claims it undergoes halving, just like bitcoin, to help protect its scarcity by cutting the mining reward in half. However, this hasn’t been proven in theory. Also, while Bitcoin is traded globally, the same cannot be said of Pi.
What is the Ambassador Role in Pi Network?
The Ambassador role on the Pi network allows users to earn more Pi by inviting others to join the platform and become pioneers.
You can become a Pi Ambassador when new members join your earnings team by using your invitation code to sign up for the Pi network and start mining Pi. Ambassadors get a 25% boost to their earnings for each person they invite to the platform, as long as they are mining Pi.
What is the Contributor’s Role in Pi?
The contributor role on the Pi network allows users to fill their Security Circle, assisting the network to weed out bad actors, build trust and help them earn more Pi coins per hour. This feature is unlocked after you must have completed three mining sessions. Once you become a contributor, you can add people to your Security Circle and boost your mining rate.
What is the Security Circle in Pi Network?
Unlike bitcoin and several other cryptocurrency projects that allow network validators to secure their digital ledgers via the Proof-of-Work (PoW) and other methods, the Pi network secures its ledger when users vouch for each other’s trustworthiness.
A security circle on the Pi platform refers to a group of 3-5 pioneers who trust each other not to conduct any fraudulent transactions on the network.
How do I Add People to my Security Circle?
There are two ways to go about adding people to your security circle. The first method is the “Add an Existing Pi User” option, which allows you to build your security circle from those in your earnings team.
This means that you can select the person whose referral link you used to sign up to the platform and two or three other people that you referred to the network.
The second method is the “Add From Contacts” option, which allows you to add people from your phone’s contact list to your security circle. However, they must have Pi accounts.
Can I Have Multiple Pi Accounts?
This is supposedly one of the Pi network’s biggest security features. The network allows an individual to have only one Pi account, to ensure transparency and equality.
To maintain this standard, the network uses the Know Your Customer (KYC) compliance to verify users’ information. They also keep track of this information using an advanced identity verification application called YOTI.
YOTI ensures that users do not photoshop ID cards, passports, and more by requiring on-site portraits and IDs, and retaking of photos when documents expire.
So, Pi users cannot have more than one account.
Is there an Age Restriction for Pi?
Users are eligible to have a Pi account as long as they have the sufficient identification documents needed to open an account and can use a smartphone. Therefore, users’ ages can range from 18 years up. However, teenagers below the age of 18 can also have a Pi account as long as they have some type of identification document, including a passport.
Can I Withdraw Mined Coins Now?
No, you cannot withdraw any of your mined Pi cryptocurrency now, as there is currently no provision for its sale on the secondary market. All transfers and withdrawals from Pi can only be done once the project reaches Phase 3, which is the launch of the Pi mainnet.
The project claims that this was to prevent bad players from illicitly acquiring Pi coins and subsequently transferring them to legitimate accounts.
Will Pi Mining Continue for a Lifetime?
Pi tries to bring in all the plus sides of bitcoin while avoiding all of its negatives. The project owners noted that to keep the value of each Pi coin significantly high, when it fully launches, it will be adopting the halving technique.
Pi halving ensures that the number of Pi coins awarded to each pioneer after a mining session is split into two as more users get on board.
The project started with a base mining rate of 1.6π per hour. This rate was halved to 0.8π/hr when about 100,000 users joined. It was further slashed to 0.4π/hr when its user base rose to 1 million.
The next halving took place when Pi users swelled past 10 million, bringing the mining rate to 0.2π/hr. Therefore, users will no longer be able to mine Pi coins after the Pi network launch date. The project owners urge users to start mining at a higher rate immediately.
What Are the Impacts of Mining Pi?
This is one way that Pi tries to be different from bitcoin. Pi claims to have the solution to one of bitcoin’s biggest flaws of all time: environmental impact.
Unlike bitcoin that takes a lot of computational power and the use of specialized equipment to mine, Pi claims to use a negligible amount of data and that its performance does not, in any way, affect the performance of users’ mobile devices.
There is no need for specialized equipment as users can mine the Pi coins on their phones by simply pressing the mine button, and this does not leave behind any carbon footprint.
However, it is worth noting that this mining process is arguably fake since Pi does not have a blockchain network. The process labeled as mining is simply software distributing digital coins to users and does in any way relate to cryptocurrency or Bitcoin mining operations. You can learn more about Bitcoin mining here.
Is The Pi App a Wallet For My Mined Coins?
Yes, the Pi app will serve the purpose of a digital wallet for the mined Pi coins when the project finally goes live. It will be linked to users’ current accounts, with access to vital user information including their phone numbers and more. From the in-app wallet, users can conduct transactions with their stored Pi coins.
Will I Need an External Wallet to Store my Pi Coins in The Future?
Once the Pi Network mainnet is launched, the project says it will users will be allowed to store and trade their Pi coins in external wallets, in addition to its in-app wallet. Users will also have the option of taking over full ownership of their public or private keys as soon as the project officially launches.
Is Pi Coin a Good Investment?
At the moment, Pi coins cannot be traded as they are not listed on exchanges. However, investors can either get on board the project, join in the mining activity, and wait for the mainnet to launch or wait to buy it on an exchange when it officially goes live.
How Many Pi Coins Will Be in Existence?
It is still very difficult to determine the number of Pi coins there will be in existence since the project is still in the testnet and there is no clear Pi network launch date. Pi coin’s total supply cap will only be determined when its mainnet is officially launched, validating users’ accounts and migrating the mined coins to the mainnet.
The Pi Network app operates in the same manner as an affiliate marketing system, promising users future rewards for bringing in new users. It is also similar to a Multi-Level Marketing (MLM) system since it provides increased benefits to its early users.
The app creates little value for users and vice versa. The only value that users create is providing their information, regular logins, and completing KYC requirements from which the project owners are already benefiting by launching optional video ads to monetize the network’s active user base.
How Much Will Pi be Worth in 2030?
There is no certain Pi network price prediction at the moment because it is not listed on any exchange. However, judging by the hype surrounding this project and its user base, Pi is expected to hit the $1 mark a year after it is officially listed.
The subsequent price movements of this coin will depend on the level of acceptance it gets from exchanges and users. Although it will be difficult to predict the 2030 value of a coin that is not yet launched, Pi may have a market value if the network is properly developed and the hype surrounding it does not die down.
Pi claims to bring good into Bitcoin’s infrastructure while leaving out its downsides. Over time, bitcoin has attained a measure of popularity that makes it the king of crypto. However, at this current stage of Pi’s existence, it is hard to say if Pi can be the next Bitcoin.
The manner of launch is completely different and means Pi will likely just be like other cryptocurrencies instead of Bitcoin. The project is making a lot of promises and has failed to deliver any value to users.
What is the Future of Pi?
The future of Pi is somewhat uncertain as the coin currently has no value and is not listed on any exchange. However, the future of the project depends on the success of its mainnet launch and the level of acceptance it receives from both exchanges and mainstream users when it goes live.
Pi Network is making several huge claims and amassing a lot of users for itself but it is yet to give value to its users. The potential of this project depends on the success of its mainnet launch, which doesn’t look like it will happen anytime soon. Until then, Pi remains a project without any value, other than collecting user information and using it for marketing purposes.
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Pi Network Coin (PI) live price in US dollar (USD). View value statistics, market cap and supply.
An overview showing the statistics of Pi Network Coin, such as the base and quote currency, the rank, and trading volume.
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Top Pi Network Coin exchanges
The top crypto exchanges that have Pi Network Coin available for trading, ranked by 24h trading volume and the current price.All PI exchanges
Top Pi Network Coin markets
A list of the top Pi Network Coin markets across all crypto exchanges based on the highest 24h trading volume, with their current price.All PI markets
Pi Network: what is the latest prediction for Pi coin?
Pi Network (PI) is causing a stir in the cryptocurrency community, even before it has fully launched. The project has been in development since 2018 and remains in testing mode. But there are already predictions for the Pi Network value when the cryptocurrency goes live.
Some users view Pi as a way to get involved in a cryptocurrency from the ground up and profit in the future, in the same way that early bitcoin (BTC) adopters have racked up massive gains from mining and holding the coin. Others, meanwhile, have likened Pi to a multi-level marketing (MLM) scam that holds no value.
But what is Pi Network and how does it work? Have you heard of its native coin and are you looking to find out more about how to buy a Pi coin as a potential investment?
This article provides an overview of what the Pi Network aims to achieve and how the Pi cryptocurrency prediction is already taking shape.
What is Pi Network?
Pi Network is a digital currency project that aims to keep crypto mining accessible. It is based on the view that the centralisation of the first generation of cryptocurrencies like bitcoin has put them out of reach of everyday users.
While early bitcoin adopters could mine the digital coin from a regular computer CPU, the process of mining – validating transactions on its distributed record, or blockchain – has been taken over by massive mining pools with specialist hardware.
The project, developed by a team of Stanford graduates, aims to redress the balance, enabling users to mine coins from its smartphone app.
With branding based on the number π, Phase 1 of the project launched in 2019 on Pi Day, 14 March, with its free PI mining app. By June 2019, the network had more than 100,000 active users, and a year later when Phase 2 launched there were more than 3.5 million. The app started running ads in May 2020 to provide a source of financing for the project. The user base reached 18 million at the end of May 2021, having crossed the 12 million mark in February.
The Pi coin is the cryptocurrency that runs on the Pi network, and as with other cryptocurrencies such as BTC, Pi crypto was designed to undergo regular “halving” to protect its scarcity. Halving is when the number of coins that a miner receives for processing new transactions is reduced by half when a certain milestone is reached.
Pi’s mining rate halved from 1.6 π per hour when it reached 100,000 users, halved again to 0.4 π per hour when it reached 1 million and will halve again to 0.2 π when it reaches 10 million. It will continue to halve, with documentation showing the plan to reach zero at 1bn users.
However, it could bring that forward to 100 million or even when the coin moves from the testing phase to go live, which is known as moving from testnet to mainnet, according to the project’s Twitter account.
During the current second phase of the project, users can volunteer to test out Pi Node desktop software on their computer. But when will Phase 3 launch – will it be in 2021? According to the developers, the start of the third phase depends on the progress made in the second phase.
Unlike nodes in networks such as Bitcoin that use proof-of-work (PoW) protocols, Pi Nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi Nodes validate transactions on a distributed ledger and reach a consensus on the order of new transactions that the ledger records.
Under the SCP, PI Nodes form security circles, or groups, of three to five trusted people known to each of the networks’ users. Security circles build a global trust network that prevents fraudulent transactions, as transactions can only be validated on the shared ledger if the trusted nodes approve them.
Pi coin remains in pre-release mode
During the first quarter of 2021, developers were able to interact with the Pi testnet. The project introduced a new Pi Brainstorming app in the Pi Apps Platform to allow users to propose app ideas, join projects and engage other users.
During the second quarter, the core Pi Network development team focused on building the Pi Utilities Platform, including enabling third-party apps with the wallet. On 10 April, Pi Network introduced its Pi browser app, after launching a Pi wallet app on 1 April. The wallet enables developers to test transactions on the Pi Testnet but does not enable real Pi transfers.
If you are wondering about the current worth of Pi coin, it is not yet available to buy on any of the cryptocurrency exchanges or trading platforms and has no tradeable value. Users that have mined the Pi cryptocurrency will only be able to withdraw or exchange their coins during the third phase of the project, when Pi moves to a completely decentralised blockchain.
Pi cannot be transferred during the testing phase. According to the project website, this is to prevent fake accounts from accumulating coins. Pi wallet balances are expected to be honoured when Pi shifts from the testnet to mainnet, when the blockchain protocol comes out of development and is fully deployed.
Simple and intuitive platform
Once Phase 3 launches, holders will be able to take full control of their private and public wallet keys and use the coin to buy products and services on Pi’s peer-to-peer marketplace or exchange it for fiat currency. Without the keys, users cannot transfer or spend the currency they hold.
The Pi mobile app acts as a cryptocurrency wallet, linked to a user’s phone number or Facebook account. As with other public blockchains, the Pi blockchain will allow external wallets to hold Pi coins and transact with them by submitting transactions directly to the blockchain. However, unlike other blockchains, its developers have not yet released its source code.
Early adopters are accumulating Pi crypto in anticipation that the price will rise sharply after Phase 3 goes live. Although the coin’s mining rate has been reduced by halving, users can increase their mining rate by connecting with other active miners. New users can only join the Pi Network if they have a referral code from another user.
The project’s developers claim that the security of the Pi Network is enhanced by personal networks, encouraging users to bring in friends and family – which is prompting scepticism that it is a multi-level marketing (MLM) or pyramid scheme. However, it is worth noting that users can only earn coins from their own direct networks – not from their connections’ networks, as with an MLM scheme.
In the meantime, the developers have increasingly warned users that “scams claiming to involve Pi have recently popped up”.
Some cryptocurrency observers have already started to make their predictions about the Pi cryptocurrency value. Let’s take a look at what the Pi price is likely to be when it does start trading.
Pi Network: Pi coin price prediction for 2021-2025
As with other digital coins at launch, the Pi cryptocurrency value is likely to start at a relatively low level against the US dollar and rise as its adoption grows. What do some of the price forecasts suggest?
On 3 August, Coin Data Flow estimated the price of Pi at $1.32-$1.35. It projected that the price could rise to $1.48 by 2025 if the coin grows at 1% of the average annual rate of bitcoin, or reach $224.89 if it has 100% of Bitcoin's previous average annual growth.
On 18 March, Digital Coin’s Pi Network price prediction 2021-2025 projected that the coin’s price would rise from an average of $0.0107 in 2021 to $0.0127 in 2022, and $0.0212 by 2025. Over the longer term, it predicted the Pi price to average $0.0319 by 2028.
However, on 19 March, the website deleted all the information on its price estimates.
Algorithm-based forecasting service WalletInvestor had a Pi coin price prediction of $0.0132, with a downside of $0.00743. It too later removed the prediction.
Depending on the number of cryptocurrency users and exchanges that adopt Pi, the bull case could see the price of Pi reach $1 if it launches by the end of 2021, according to crypto exchange Changelly. Over the longer term, the price could rise to $5 by 2025, the website predicts.
Will Pi coin rise past $1 in the future? Follow Capital.com to be one of the first to discover the updated PI/USD price forecast once any further data becomes available.
Pi has yet to launch as a cryptocurrency that investors can buy and sell. You can mine the coin through the Pi Network app if you receive a referral code from a current user.
If you are going to sign up, you need to decide whether you are prepared to provide your full name and mobile phone number to register an account.
At this time, investors are unable to trade Pi coins. If you expect the project to successfully launch an accessible cryptocurrency that does not price out everyday users, you could get involved in mining the coin. Alternatively, you could wait to buy it on an online exchange.
Whether it will be a good investment for you will depend on your financial circumstances, portfolio composition and risk appetite.
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Crypto value pi
Pi coin price prediction: Is this project a scam?
A Pi coin price prediction is impossible to make because the cryptocurrency hasn’t been listed anywhere. Overall, the project raises more questions than answers
The Pi Network appears to have done what few crypto projects manage to achieve: capture the imagination of everyday consumers.
But what exactly is the value of Pi cryptocurrency, and is there any prospect that this is a scam? Is it possible to make a price prediction of Pi coin ahead of its launch? Here, you will find everything you need to know.
Is Pi cryptocurrency legit?
The Pi Network’s official website claims that its goal is to ensure that no one is left out of the cryptocurrency revolution, pointing out that mining cryptocurrency is hard and investing in it can be even riskier.
According to the project, it enables anyone to mine crypto on their phone without draining their battery. Accordingly, there is now frenzied speculation about what Pi coin’s value may be in the future. But Pi coin projections are tricky without all the right data.
There are several different roles within the project’s ecosystem. Everyday users who have downloaded the mobile app are referred to as Pioneers and are expected to confirm that they are not a robot on a daily basis by signing into the app. Ambassadors introduce others to the Pi Network, and this unusual format has prompted accusations among some that the project is using tactics often deployed by multi-level marketing schemes. Nodes refer to those who use the app and run node software on their computer.
But here’s the one thing that makes it difficult to make a Pi coin price prediction: the cryptocurrency isn’t actually live on an exchange yet. To compound the problem, the mainnet hasn’t even launched. So where to next for a Pi network price prediction 2021?
Will Pi be worth anything?
At this stage, we can’t answer the question of will the Pi Network value be worth anything.
The project says that, when it first launched, the base mining rate stood at 1.6 π an hour – halving to 0.8 π once 100,000 users were onboarded. A further halving to 0.4 π an hour followed when 1 million users started using the app, and the latest slash to 0.2 π an hour came after its user base swelled beyond 10 million.
In May, the Pi Network claimed on Twitter that it now has more than 18 million Pioneers on board and encouraged them to “mine at a higher rate while they can”. It is expected that the next halving to 0.1 π an hour will occur when the mainnet launches (the date for that remains unclear); should Pi ever reach 1 billion users, the reward will fall to zero.
Is Pi coin safe?
As we mentioned, some analysts making Pi coin predictions aren’t necessarily worried about the Pi Network value; they are more concerned about whether this project is a scam.
Some of the most optimistic Pi coin price predictions tend to come from those who have downloaded the app; some have suggested that a single Pi could be worth anywhere between $10 and $100 right now. However, there’s absolutely no evidence to back this up, and the team behind the Pi Network hasn’t released much information on the project’s progress. A concise Pi coin price prediction for 2021 is much sought after.
The Pi Network appears to be especially popular in Southeast Asia. However, blockchain experts speaking to the Vietnamese publication VnExpress have cast doubt on the crypto platform’s legitimacy – not least because users don’t have access to their private keys.
Blockchain expert Dang Minh Tuan, from the Posts and Telecommunications Institute of Technology, said that, unlike many other networks, Pi appears to lack transparency. He added:
“The Pi Network has a smartphone app and servers to keep them running, so why don’t developers release its source code for the community to review?”
Adverts were also recently added to the Pi Network’s app, suggesting that the software’s main motivation could be monetising the millions of users who have downloaded it.
Another issue concerns the data that someone needs to give up when they download the app, including their full name, phone number and Facebook username. Tuan warned that it’s possible that other forms of data could be stolen from a user’s device. Alarm bells have also started ringing that this may be a pyramid scheme based on the fact that new users can only join if they have a referral code from an existing Pi user.
Does Pi Network have a future?
A Pi Network price prediction for 2021 will be easier to make if the mainnet ever launches, and if users end up receiving the cryptocurrency that they have been mining. Until then, we are going to have to wait and see the full Pi coin value. This is meant to happen when Phase 3 makes its debut.
Unlike the myriad other blockchain projects, there is very little information about Pi Network online, including on crypto news sites.
Of course, there is a chance that we could be proven wrong about Pi Network: that it will launch, that users will get their coins and that the cryptocurrency will have substantial value. The project has an appearance of credibility based on how it was founded by graduates from Stanford, a prestigious university. Crypto projects have surpassed expectations before, but it is also a sector that is dominated by rugpulls, scams and pyramid schemes, as seen with the collapse of OneCoin. Some estimates have claimed that up to $19.4bn (£14.2bn, €16.4bn) may have been stolen by the time OneCoin went under, and dozens of people ended up being prosecuted.
How much will Pi crypto be worth in 2025?
Just to stress once again, we cannot estimate a Pi coin value or make a Pi coin price prediction for 2025 because the cryptocurrency hasn’t been listed anywhere yet, meaning it is impossible to perform technical or fundamental analysis. Take any Pi coin price prediction you do come across with a pinch of salt, because there is not much trustworthy information to underpin it – the price of Pi coin remains to be seen. Time will tell the real price of Pi coin for 2021 if it happens, before looking at a Pi coin price prediction for 2025 or a Pi coin price prediction for 2030.
While looking for a prediction of Pi coin, remaining vigilant for scams is crucial and, although the Pi Network is free, you shouldn’t discount the possibility that the project isn’t benefiting from its users in other ways.
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