I’ve learned a bit about cryptocurrency in the last year, through research for fun and having been asked to write about BitCoin and digital wallets. In the course of the pandemic, I got my own little Robinhood account, and along with a bunch of random stocks, I scooped up some Dogecoin and Ethereum Classic. Ethereum Classic was my first toe-dip into crypto.
I’ve recently learned about Pi, thanks to Zach, who, when he isn’t flying jets and helicopters, has joined me in the crypto adventures. This currency, the first on a cloud mining format, shows promise. Here’s the good news. You can get in on it with zero risk.
So what’s Pi? If you read the Stanford Daily on September 16, 2019, you would have caught this headline: “Stanford grads develop cryptocurrency for smartphone users to increase its accessibility.” Who are the grads? Nicolas Kokkalis Ph.D. ’13, Chengdiao Fan Ph.D. ’14, Vince McPhilip M.B.A. ’18. All featured on the Pi website team page.
Pi is a cryptocurrency – but unlike other Ethereum and Bitcoin cryptocurrencies that are resource-intensive to mine, you don’t need to buy an expensive mining rig on amazon (no thank you). You can mine Pi on your smartphone by logging in daily. It is cloud based, and really easy, only takes about 2 seconds.
Still don’t think cryptocurrency is the way to go? Maybe it isn’t. But consider this: Bitcoin has made thousands of millionaires, at least 18,000. Many who invested almost nothing. For those who got in, Bitcoin was the way to go.
Is Pi another Bitcoin? Time will tell. There are no guarantees. Pi is currently in Phase 1-2, so now is the time to “get in” while Pi is worth… nothing. You will pay nothing while it’s worth nothing. Remember Bitcoin in 2008 was also worth nothing. But, Pi won’t always be worth nothing. Medium said in a December 2020 article “a back-end marketplace already has users exchanging the currency for up to $10 a coin.” Some people have estimated that it may reach Ethereum like values of $200 in 2021-2022 when it is launched.
Pi’s Disclaimer on their FAQ page clears up some things:
1) Pi is not free money, it’s a project. (in other words – this isn’t a place for quick money for free).
2) it is not a scam. (success isn’t guaranteed, but they’re working hard for all)
3) You don’t need to leave the app open to mine coins. It doesn’t drain your phone’s battery.
You may hear blockchain described as a decentralized database, or a type of digital lever technology. Blockchain currency is successful because it is secure, and nobody is in charged. Currency cannot be hacked, faked, or spent twice. For Pi investors, the app is its own wallet. What have you got to lose? Nothing (right now). Really want to know more? Read the Pi White Paper.
So here are some links for you.
Get a free stock of Pi and start earning daily.
Want to venture beyond Pi? Get a free stock with Robinhood and trade stocks and crypto for free!
Happy investing. Stay safe!