Yes, I am shamelessly sharing my invitation link with you: https://minepi.com/hajbus
OK, today I will look at “The First Digital Currency You Can Mine On Your Phone”. This is something you can ease your FOMO with. If you happen to feel you’re missing out on Bitcoin and all the mining stuff where you need a lot of hardware and electricity to mine some money, you can join the Pi network.
Currently, because we’re a lot of miners (reached 10 million), you cannot generate as much currency as at the beginning, as the mining speed halves after a specific user amount. If you look at their Whitepaper, you will see they had the option in mind to stop mining after there’re 10 million users on the network.
Yes, they wanted to stop but this was an open-ended idea and finally, the developers decided against it and you can keep mining.
How can you mine Pi?
You need a mobile device, first of all, download the app following the https://minepi.com/hajbus (either to an Android or an iOS device). As it’s still in the beta phase you’ll need an invitation. And I am inviting you. Use my handle: hajbus to join the Pioneers of the Pi Network.
After this, you have to click once a day in the app on a button and you’re good to go. The app displays your currently owned Pi and your mining rate (around 0.1 pro hour). If you build a network you can mine even more.
The value of Pi
Well, I have no idea how much a Pi will be worth once it’s on the market and you cannot mine more. But this is interesting behind all these cryptocurrencies: you have no idea which will yield profit in the long-run. Would you have thought 10 years ago that 1 Bitcoin will be worth $20k? Me neither.
The same is true for every asset over at the crypto market, and for Pi too. There’s no guarantee that your work will pay off. But let’s imagine that Pi will be worth $0.25 on March 1st, 2021. You managed to mine 177 Pi (0.1*24*(15+31+28)) which is worth $44. And you’ve had to click 74 times on your app — which is not bad because we fiddle more time on FB, IG, TT, or YT.
Surely, you won’t be rich overnight. But if you mine now and forget about your Pis (but keep them secure in your wallet) and this currency hits 1/10th as hard as Bitcoin does currently, you can consider yourself rich.
What if Pi will be worth nothing? In this case, you’ve spent 37 minutes of your life pointlessly (if I calculate with 30 seconds for one daily click) — and you do it already on Social Media so it doesn’t really matter.
I will create another article where I will introduce Pi Network and the project behind it in more detail — but I just wanted to share my invitation code with you just in case you’d feel like missing out.