Picoin: This Crypto will become What Bitcoin Failed to Be
What is Picoin?
This crypto – picoin – is mined from the palm of your hands using your smartphone. Cryptos are a new form of digital currency that can be exchanged directly from one person to the other without any use of a middleman. In other words, cryptocurrencies are peer-to-peer digital money.
Pi was created by a team of three Stanford graduates. And they were Vince McPhilip, Chengdiao Fan, and Nicolas Kokkalis. These guys launched Pi coin on March 14, 2019 (Pi day).
Despite creating Bitcoin to be used as an alternate form of fiat currency, this plan failed and as a result, instead of Bitcoin becoming an alternative form of currency, it became a store of value. Bitcoin became even more valuable than gold.
Mining Bitcoin became exorbitant since getting the equipment to mine it also was too expensive for the common person. Bitcoin mining consumes a lot of electric energy because the computational power used to solve the complex hash equations is immense.
The pi coin was created to become what Bitcoin was first created to be. That’s an alternative to peer-to-peer fiat currency.
How is Pi mined?
Unlike Bitcoin where you’ll have to purchase expensive hardware to mine, for Pi you’ll only need your Smart Phone. You might be asking whether mining Pi will drain your phone’s battery power or whether you’ll have to keep the mining application open at all times.
The response to these two is a “hell no!” Pi mining app neither drains any battery energy from your smartphone nor kept always on to mine Pi. Mining Pi coin is as simple and easy as pressing the “mine” button every 24 hours.
If you want to get started with Pi, download its mining app on the app store or play store. To get started, once you’ve downloaded the Pi mining app, you’ll be prompted to key in the username of the one that invited you to the network.
Once that’s done, you’ll be asked to enter your credentials, and also confirm your contact details by verifying your phone number or Facebook account. After all these requirements are filled, you’ll be able to start mining Pi freely.
Is Picoin a Pyramid Scheme?
Pyramid schemes are well known as hypes that suck money out of you using a “get-rich-quick promise”. They for the most part target people who are in desperate need of money and are too lazy to work for it. In these schemes, you’ll need to pay some cash to purchase their so-called packages then refer others to purchase these products as well. Any successful sale you make earns you a commission.
The pi coin on the other hand isn’t a pyramid scheme. It doesn’t require you to purchase or pay anything to mine. On the contrary, all you must do is simple: download the Pi mining app, create an account and log in to the app every 24 hours to earn or mine the token. You’ll lose nothing by doing that. The Pi app also doesn’t show you any ads if you were wondering if they want to make money by add views. Videos received on the Pi app are only for education and announcement purposes from the creators of Pi.
Is Picoin worth anything?
The pi coin currently worth nothing, but rumor has it that the coin could be worth 100 dollars.
Can I buy Picoin?
No, as of May 5, 2021, you cannot buy any Pi tokens. You can only mine Pi. But from November 2021 or early January 2022 Pi coin aims to release its main net. Once this happens you’ll have the power to buy and sell your Pi tokens.
How can I Invest in Picoin?
Download the Pi app from any app store, create an account and then start earning by coming back to the application every 24 hours and pressing the “mine” button.
Picoin vs. Pi Network
The Pi network is the community or the miners and holders of the token Pi, while the Pi coin is the cryptocurrency that fuels the running of the Pi community.
What’s the Future of Pi?
If you recall or learned somewhere how Bitcoin started or even Dogecoin, you’ll surely understand that any crypto started and get the network effect has future use cases. This also makes the token valuable since it now has utility.
What’s Pi’s Market Cap
Pi coin as of May 5, 2021, has a supply of 1,378,368.8048804 with 0 tokens in circulation. These figures are scheduled to change when it main net is officially released.
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