When asked “What Pi Network really claims?”, the answer could be layered. Knowing Pi Network launched with a bold claim:
– A claim of being the first digital currency people could mine on their mobile phone with minimal impact on battery.
The mission? The mission from our research at AdiTech shows they plan to make cryptocurrency accessible to the masses, especially those without the expensive hardware or technical knowledge needed to mine traditional cryptocurrencies like Bitcoin. Through a simple app, they have been able to achieve some part of this mission, users are rewarded with Pi tokens just for logging in daily and referring others. Over time, this strategy has built a massive global community, which depending on who you ask, is either its greatest strength or its biggest question mark❓.
Why So Much Excitement About Pi Network? Here’s what sources have confirmed to AdiTech:
– Many early users are already seeing benefits from Pi Network ahead of its major launch. Weeks ago lots of migration happened and our sources say users were able to convert their mined Pi tokens to UsdT. Although this happened only on the MEXC exchange.
Here’s why Pi Network is creating such a buzz:
– Mobile First Mining: No need for expensive, energy draining hardware.
– Massive Global Community: Tens of millions of mobile users worldwide.
– User Friendly Interface: Gamified mining and strong community engagement.
– KYC and Marketplace Development: They’re finally pushing users through KYC (Know Your Customer) and are actively building a functional marketplace, offering sales of goods and services in place of Pi as mode of payment.
– Why the Skepticism About Pi Network?
Despite the excitement and its recent listing on the MEXC Exchange, there are still valid concerns. From our research at AdiTech, one major red flag is that Pi Network has not launched its open mainnet yet.
What Does This Mean:
1- The coin cannot be freely traded or withdrawn on major exchanges.
2- Real, unrestricted market activity is missing.
Here are some of the key questions we’ve encountered:“?”
– What is its Supply, Utility, and Long Term Value: Many are unsure about all this and how Pi will maintain its value over time. As bitcoin has made a total supply amounting at 21 million, what could Pi’s supply be?
– Marketing Style: Some critics question Pi’s viral marketing approach, though it has been confirmed not to be a scam.
AdiTech’s Verdict: Cautious Optimism: Speaking from the stance of a Project Developer and Blogger, here’s our take:
Pi Network is incredibly interesting as a social experiment. It has real potential to onboard millions into crypto, people who might have otherwise never tried it, but did due to its free mobile mining nature.
Although as a serious investment vehicle? It’s not there yet. Because for a cryptocurrency to be truly valuable, it must be:
1- Freely Tradable
2- In Limited Supply
3- Used for Actual Transactions, which of course we know they’ve been working on.
And right now, where do you see actual Pi transactions happening? Besides MEXC, not on any major exchanges where real buying and selling happens.
To conclude this article, one could say if Pi Network successfully delivers during its open mainnet phase, it could become a game changer in the crypto space that’s for sure. Until then, it remains a speculative project, not yet a replacement for Bitcoin, Ethereum, or any major cryptocurrency.
If you have any thoughts on this? hit the comments..
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