Table of Contents
PI Review | How to MINE PI for free | scam or legit
we will be discussing pi in this post under the three sub-headings which is, pi review, how to mine pi for free, and is a pi scam or legit
NOTE: Pi is NOT free money.
Pi is NOT free money. It is a long-term project whose success depends on the collective contributions of its members.
What is Pi?
Pi is a new cryptocurrency for and by everyday people that you can “mine” (or earn) from your phone.
Is this real? Is Pi a scam?
Pi is not a scam. It is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency.
How does this app work? How do I earn more Pi?
Go to the app store, download the PI Network app, register, and put your referrer as Bloomstar, then you can start mining. This app allows you to earn Pi by making simple contributions to Pi’s community. The more you contribute, the more Pi you earn.
Do I need to leave the app open to mine? Does the app drain my battery or data?
You do not need to leave the app open to mine. Pi does not affect your phone’s performance, drain your battery, or use your network data. Once you hit the lightning button, you can even close the app and you will continue to mine Pi.
Why do earlier members mine at a higher rate?
Earlier members mine at a higher rate to reward contributions to the network when they are most needed.
What is the Ambassador’s role? How does the earning teamwork?
As an Ambassador, you earn up to a 25% bonus on your base mining rate for each person you invite to the network.
What is the Contributor’s role? How do I become a contributor?
Becoming a Contributor allows you to earn more Pi by building a security circle of 3-5 trusted members.
What are security circles?
Security circles are groups of 3-5 trusted people built by each of Pi’s members. Security circles secure the currency by building a global trust graph that prevents bad actors from executing fraudulent transactions.
What is the value of Pi?
Today Pi is worth approximately 0 dollars/euro etc. similar to Bitcoin in 2008. Pi’s value will be backed by the time, attention, goods, and services offered by other members of the network.
Can I withdraw my Pi? What is the timeline for withdrawals?
No, you cannot withdraw Pi yet. You will be able to withdraw Pi or exchange Pi for other currencies in Phase 3 of the project when Pi transitions to a fully decentralized blockchain.
When will Pi be worth something? When can I turn Pi into “real” money?
Pi’s holders will be able to turn Pi into “real” money when they either purchase goods and services on Pi’s marketplace or exchange Pi for fiat currency.
Can I mine from more than one device? How does the network prevent fake accounts, bots, etc. from earning Pi?
No, you cannot mine from more than one device. The network has a strict rule of one account per person. Pi uses a multi-pronged strategy to ensure Pi is not mined by fake accounts.
Is this app a wallet? Will we hold our own private/public keys? And can we use an external wallet to hold our Pi in the future?
Yes, your phone will serve as a cryptocurrency wallet that will be linked to your current account.