There is a newer coin coming to a phone near you!
You might have heard someone say “Get a piece of the Pi” , “Grab a slice of the Pi”, or heard claims of a crypto currency that you can mine on your phone. I know you probably think of a Crypto Mining Farm with a bunch of Antminers set up on shiny silver racks humming away while they mine for coins.
This is a different approach to mining and honestly I think it provides more opportunities for the small guy. We have historically seen that mining requires not only a treasure trove of expensive mining hardware, but also requires a substantial amount of energy to run the machines. Often times, depending on your market the reward for moving is outweighed by the electric bill associated with mining. This may no longer be the case with the recent spike in the #bitcoin price.
So what is all the hype? Well with the push of one button (after opening the app) Android or Apple you can be on your way to mining #crypto. I am not kidding when I say it takes me less than one minute a day. The mining cycle runs for 24 hours. Basically that means that you should start your mining at the same time everyday otherwise you miss out on some mining time.
There have been a few different updates and I think the app is now available in close to 30 different languages. This I think is going to be key if they want to the coin to be adopted world wide. Allowing people from literally all corners of the world to access the app in their native language is going to really pay dividends later on. I know for me I have viewed the app in English, Canadian, Australian, and I am kidding. But the best way to find out if the app is supported in your own language is to download it and check it out.
Of course I would greatly appreciate it if you would use my referral app, it costs you nothing and allows us both to mine Pi a little quicker or at a faster rate. Once you get the app (and a free Pi) you will get your own link like mine.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 9 million members worldwide. To claim your Pi, follow this link https://minepi.com/theincomebeast and use my username (theincomebeast) as your invitation code.
As you can see from the screenshot there are around 9.5 million “pioneers” who are currently mining Pi. What does that mean? Well, it is a sign that there are already many people who are interested in mining the coin and I would imagine that some of those will drop off after the 10 million because the mining rate will slow down a little bit.
We are currently mining at .4 pi per hour and just like other coins this will half and we will be earning .2/hour. I still think that clicking once a day is a pretty good deal for earning some crypto. I know many other faucets that pay much less for doing a lot more.
Once you download the app and start mining you will be part of my mining pool. With more people in your group you will earn a little quicker. You should then start sending your invite code to build your own mining group. Or, feel free to share my link.
I will mention right here that there is some Know Your Customer (KYC) requirements. I know this is a deal breaker for some people and I like the idea of anonymity just as much as the next guy but there are probably some regulations that require the KYC and also this will cut down on the sneaky ones that have three cellphone and an iPad all mining Pi with different fake names.
When I signed up there was no KYC requirement but they recently made that change in order to withdraw your Pi. They had an announcement on the app that would allow you a one time free name change that they said must match the name on your ID.
I like to save the best for last. As you can see right now the value of one Pi is .68 USD. Since I have a little over a thousand already mined that would be roughly $70 and I have not been mining very long.
You might be wondering when these coins are going to be available for purchase and when you might be able to sell them. Well for that we need to be in phase 3 which I believe we are going to see happen in the near future. Until then, just keep on mining and good things will be sure to come.
I always welcome comments or questions so if you have any thoughts on the new Pi Network feel free to leave a comment. Thank You for reading.