THE TRUTH ABOUT Pi

Pi's mission is to build a cryptocurrency and smart contracts platform secured and operated by everyday people.

This means trying to get attention from all the normies to get them interested in the cryptocurrency world. How are they going to do it, you may ask? They are doing this by allowing people to mine Pi directly from their phone by leveraging their own social circle of trust.

>But user, mining from a phone it's the stupidest idea ever.

It's not. You see, the "mining" doesn't involve any PoW, therefore your phone is not going to explode and get bogged down from running the app. Instead, Pi uses a Stellar Consensus Protocol or SCP with an algorithm called Federated Byzantine Agreement. Such algorithms don’t have energy waste but they require exchanging many network messages in order for the nodes to come to “consensus” on what the next block should be. The team claims that the internet is fast enough to manage these messages and that the messages themselves are lightweight.

Essentially how it works is you invite people in your social circle whom you trust so they can start mining and form a node. Each node will get to vote in order to reach a consensus.

>But, muh centralization

Instead of having one centrally determined quorum, each node sets their own “quorum slices”, which will in turn form different quorums. New nodes can join the network in a decentralized way: they declare the nodes that they trust and convince other nodes to trust them, but they don’t have to convince any central authority.

For the Pi to have value, it must be widely distributed, so each people you invite to the app will give you extra Pi, creating a shared pool.

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Attached: Pi-Network-Airdrop-PI.jpg (400x400, 15K)

use code justin9 for free pi on signup

>but, muh pyramid scheme

it's not really a pyramid scheme, because you only benefit from them if they themselves are mining, and they also benefit from you if you're still mining. if the people you invite bring on more people you won't benefit from it. both referrer and referee are able to draw upon this pool in order to avoid exploitative models where referrers are able to “prey” on their referees.

the pi team claims they will be able to support thousands of transactions per second, with 3-5 seconds wait time for a transaction to occur.

they'll be introducing a barter marketplace, an attention marketplace (monetization off of ads) and a decentralized app store in the future.

>nice shill, faggot

while the project can have a lot of potential, there are several challanges. the first is the obvious mistrust people can have when they hear they can mine from their phones and the nature of the invitation program, making people think is just yet another pyramid crypto scheme. sadly, the team is not doing much yet to combat this misperception, and their website lacks a lot more information and clarity in order to attract more people.

>still not conviced

you can use code "leptinox" if you want to check it out, you only have to tap the button to mine once every 24h. what's there to lose

Use code k3nnysan for MAX mining! I'll add you to my elite security circle so you get a headstart. REMEMBER code is k3nnysan.

>k3nnysan
>k3nnysan
>k3nnysan

Also remember to toggle hide real name in the options menu!

You didnt even establish what is the POINT of Pi tokens. Who is the network for, where nodes are required

who gives a shit faggot, crypto is 99% bullshit we just want to ride the moons

The tokens are you mining rewards, you're adding to the security and operation of the entire network. The nodes are required to build trusted circles for consensus, and basically verifying that you're not a bot.

Use code “faunt” for 50 free coins upon joining.

LEGIT CODE: minepicoin

No takers yet? This is free money guys. Use “faunt” as the invite code.