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Absentt

A look into Pi cryptocurrency - PART I

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Hello dear dicers!

Bear with me and please leave your opinion about this coin so we all can weigh the feedbacks, and possibly earn some free amount!

Recently I came upon this "alt-coin" when it was introduced to me by a friend, we tend to discuss them, measure their potential, orrr make fun of them! I gotta tell you, some coins out there ARE hilarious! PI was one of those, that we discussed and laughed about, mocked its circulation, supply system and its so-called "mining" process. (All of which I will get to in a minute :)

But as I looked more and more into it, the more interested I got! I also looked up Pd forum about it and found some old topics, but let us not necro post on them and lose the needed attention in process.

ANYWAYS... Pi! Lets talk about its ranking on our "Is your beloved crypto, an actual crypto?" list :D 
Unfortunately, the answer to that question isn't always a simple yes or no, sometimes the grey area can get a bit confusing and judgement-compromising! Take Ripple/XRP for example, Many consider it a crypto, yet it does not have a blockchain similar to btc or eth, and cannot be mined! And that's where we start examining Pi.

Pi can be "mined" as its creators have called it, but not for processing transactions, claiming fees or even spending any amount of processing power whatsoever! It is NOT to be confused with the mining we all know, here it means you are allowed to earn a free amount of the crypto, just for being a member of its community, so no actual mining happening here as it is a passive income, It's just the developers trying to manage an initial distribution and helping with further circulation ease. Simply put, It's a giveaway!

While Pi is still in its early stages and seems to be doing good, I myself am closely watching its course to decide whether I should hodl my Pi or sell as soon as I can! So far so good though!

But on the other hand, there are some cons to it too, for one thing, It is currently only available on smartphone platforms, meaning it's an app that u have to install to be able to start earning, and while understandable, it requires a basic level of kyc, no addresses or gov issued ID card photos needed and that's good for now, only a phone number confirmation or Facebook account verification to prevent abuse.

It's website should you wish to examine this altcoin more is https://minepi.com
But interestingly enough, when I joined, after registering on the app, entering an invitation code (refer code) was mandatory! This really was weird in my opinion, yet I believe it is so Pi creators can track how it is spreading so they can decide on its future, smart!

"HOW DOES IT WORK??"
-Simple! you install the app via entering the official website above, download the corresponding app and register, Then you start automatically amassing Pi coins,, the only action needed is checking up on the app once every 24 hours, but the Pi is credited in real time.

Also, if you do learned about Pi via this topic and do decide to try it, And since entering a refer code is a must for this altcoin, I'd very much appreciate it if you'd be kind enough to enter with my invitation code when you register, It is the same as my username:

Enter through the link https://minepi.com/Absentt
and use the code Absentt

 

Please reply under this topic with what you think, It helps everyone improve!
Thank you!

 

Edited by Absentt

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I've been mining this coin since last year and it seems an interesting project to look forward too. Its getting more popular as it has reached its target of 1 million miners and counting. Seems the community is getting more active. Looking forward to reach its target for its roadmap specially be listed in an exchange and be traded soon. 

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an interesting ICO, i actually am not into ICO's alot, i dont even trust the airdrops, many of them starts with a high price at the beginning, and then the price falls down in a plink of an eye causing many bad consequences ! if it's a give away more than its an airdrop than it worths taking a look, any way, good topic 👍🏻

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I just found out about PI coins after reading this topic, and I immediately tried to find articles related to PI coins, after I read them I was interested in trying to invest in PI coins, thanks for the info

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14 hours ago, sheenaz.bay said:

I just found out about PI coins after reading this topic, and I immediately tried to find articles related to PI coins, after I read them I was interested in trying to invest in PI coins, thanks for the info

Thanks great I hope you collect a lot of coins while it is in its mining stage. More than 2.5million miners now. Goodluck I hope this project will succeed in the future. Let's just hodl and hope for the best.

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7 minutes ago, mmo21st said:

It's easy to mine this Pi coin, but now it is no value.

Yes it's easy just download the pi app register with a referral as it is required then it is up and running. You can now mine it. The good thing is it doesn't require hardware much resources of your device to mine. Just open the app daily and click mine. Even if your device is off it is mining as long as you set it up everyday. It has no value yet since it's not yet listed in an exchange.

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