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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Pi Network [for the ones who doesn’t know it already] on: December 21, 2019, 10:27:27 PM
I have always been very skeptical and distant from all the hype around digital currency in general due to my basic investment principle that when everyone on the street starts talking about an investment product, it is generally too late to invest in it. It is in this state of mind that I listen to a family friend who tried for months to encourage me to join his crypto currency investment group. He got my attention when he mentioned that this one is a new innovation which is at the free distribution phase with no financial commitment required.
As soon as I reached home, I started making some background research on the Pi Network and found that not only it is a very legitimate and innovative digital currency initiative, but more importantly, it is still at the right stage to jump in with an excellent risk reward ratio. Of course, there is no guaranty that it will be a successful project, but what you tent to lose is a few minutes a day of hitting a button on your mobile and the mobilisation of your network of friend and family at no financial cost to you or them for a possible reward of amassing lot of Pi digital currencies that could be very valuable in the future if the project is successful. Below is the summary of the findings of my research on the PI Network and my recommendation.
•   It is a project credited to three Stanford University PHDs namely: Dr Nicolas Kokkalls (head of technology), Dr Chengdiao Fan (Head of product) and Vincent McPhillip (head of community)
•   It is an App. Free to download (with no ads) either from goggle play, their website https://minepi.com or from a link of a member  who is introducing you to it, mine is https://minepi.com/sosso3170
•   The company only offers a service, but no product. After downloading the Pi Network app, you need to confirm that you are a human by pressing a lightning symbol on the app at 24 hours intervals. This will initiate the mining process at a pre determined rate on your mobile device (currently 0.40π/hr) without draining your phone battery. You are free to exit the app after that action without discontinuing the mining process.
•   Members can join only on invitation from other members. You can accelerate your mining rate by inviting other members to join using your code. You are welcome to use mine to join if you decide to or if this review add any value to you (sosso3170).
•   After three successful mining cycles of 24 hours each, you qualify to become a contributor and you can form a security circle of 3 to 5 trusted members. This will accelerate your mining rate as well.
•   The mining rate has been halve for any multiple of 10 members that the network achieved. The project started in March 2019 at a rate of 3.1 π/hr and in October 2019 the network reached 1 million members and the current rate is 0.40 π/hr.
•    The next milestone is at 10million members and it is not yet clear if the mining process will be discontinued at that stage or if it will continue to reduce in speed.
•   On Pi network white paper, a summary description of the technology they use is as follows: “... For Pi, we introduced the additional design requirement of employing a consensus algorithm (the process that records transactions into a distributed ledger) that would also be extremely user friendly and ideally enable mining on personal computers and mobile phones.”
•    The consensus algorithm that they use is the Stellar Consensus Protocol (SCP) that was architected by David Mazieres a Professor of Computing Science at Stanford University as stated in Pi Network white paper as well.
My recommendation:
Pi (π) has no value currently, just as Bitcoin in 2008, but could have value in the future. Pi Network is using an innovative digital currency technology that will decentralise mining of digital currency to the ordinary people and is user friendly through mobile phones. The team behind it is experienced and can be trusted and they are affiliated to a renown University in the world. In my view the risk reward ratio justify my recommendation of jumping in while it is still open. But like for everything in life, feell free to do your own due diligence and research. This is only my personal opinion and if you decide to go by it I will appreciate you using my code to join. It will bless me in return by accelerating my mining rate. Below is the message that is send to everyone that you will invite. This one is using my invitation link and code:
“Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link https://minepi.com/sosso3170 and use my username (sosso3170) as your invitation code.”

Good luck.
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