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Pi Network is gaining traction – is it worth mining?

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How to mine Pi Network coin

Pi Network

Last updated: 12-September-2020

This is a live page with regular updates to Pi Network Project. Bookmark this page to stay up to date with the Pi Network progress.

What to expect in this article?

  • What is Pi Network?
  • Who can participate and whether it is worth it to participate in the Pi Network?
  • Step by step process to mine on the Pi Network

Slowly but surely Pi Network is slowly gaining traction. At the time of this writing, it has over 15000 followers on Twitter, 60,000 likes on Facebook, 72,000 followers on Instagram. That is not bad for a ‘word of mouth’ publicity.

Not only that, the Pi Network IOUs are trading for around 40 cents. If this project continues to gain traction and it can garner over 40 cents when it starts trading – that is quite something for a project that is essentially free to join/mine. Again, that is a big IF.

The project has been running low key overall, however, they do keep going from planned phases. They recently launched phase 2.
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What’s in each phase?

Phase 1: Design, Distribution, Trust Graph Bootstrap

Phase 2: Testnet, the Node software is installed over the testnet to run before the mainnet launch

Phase 3: Mainnet

Please read the whitepaper for details on each of these phases.

What is Pi Network?

Pi Network was created from the simple belief that the existing blockchain and cryptocurrency networks are out of reach for the common public. For instance, you can no longer mine Bitcoin using your home computer. You need very expensive equipment to stand a chance. These equipment are out of reach of most people and that tends to keep people out of the cryptocurrency ecosystem – and act as key impediment to mass adoption.

Pi can be mined on mobile phone and does not need the app to be switched on to mine. This drastically changes the way mining works and potentially encourages people who are kept outside the crypto ecosystem because of costs and complexity. Pi is both free (almost) and easy to participate in the ecosystem.

What makes Pi Network different?

“Pi’s consensus algorithm builds atop SCP.  SCP has been formally proven [Mazieres 2015] and is currently implemented within the Stellar Network. Unlike Stellar Network consisting mostly of companies and institutions (e.g., IBM) as nodes, Pi intends to allow devices of individuals to contribute on the protocol level and get rewarded, including mobile phones, laptops and computers.”

Who can participate in Pi Network?

Anyone with an Android or Apple smartphone and internet access can participate in the Pi Network. 

According to the whitepaper: “There are four roles Pi users can play, as Pi miners. Namely:

  • Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g. make a payment in Pi to another Pioneer)
  • Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.
  • Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.
  • Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.

A user can play more than one of the above roles.”
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Team:

Pi network team consists of professionals from Stanford university and they are welcoming interested enthusiasts from all over the world to join the team. Interested professionals can be the part of their team by filling the form here for consideration.


To FOMO into Pi Network?

We would not recommend FOMO entering into any project. In the case of Pi Network, since it does not literally cost anything to join – we have registered ourselves and have started activating mining sporadically.  

You do not have to keep the app on to mine, as such, it is relatively a zero cost venture for the participants.  

For that reason (and indirect FOMO on our end) – we are OK to install and run the Pi Network app.

If you are thinking about joining – then feel free to use this link (it will increase our mining capabilities): https://minepi.com/rkreddy

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Step-by-step process of setting up Pi Network Mining

Here is the picture by picture breakdown on how to successfully install and mine Pi on your mobile.

Download and install the app Pi Network on your mobile: Android  | IOS

The fact that it is listed on both Android and Apple stores (under their due diligence) – we are a bit more open to installing the program.

Sign up with Facebook or Mobile number

Either you can choose to sign up with facebook account or mobile number. Remember to provide valid information as you need to either login or be able to access these accounts or numbers in order to get hold of your minded tokens when the mainnet is launched.

We are signing up with our mobile number.

Set up a unique password and submit
Complete the fields with your name and unique username, then click submit.


Consider using the invitation code, rkreddy (it will increase our mining capabilities) and click submit.

You will earn your 1st Pi Network token for joining and land on this page. Click get started
Tap on the flash sign to start earning


That’s it, you have now successfully installed Pi Network on your mobile and are now mining the Pi tokens, at 0.25 Pi Token per hour.  As you invite more people – your rate per hour will increase. Also, make sure to turn notifications since you will have to tap this ‘flash’ button every 24 hours to continue to mine – you do not need to keep the app open though.

Quick snapshot of token metrics

Any math geniuses can explain this to us…

Token Emission Policy

Total Max Supply = M + R + D

M = total mining rewards

R = total referral rewards

D = total developer rewards

M = ∫ f(P) dx where f is a logarithmically declining function

P = Population number (e.g., 1st person to join, 2nd person to join, etc.)

R = r * M

r = referral rate (50% total or 25% for both referrer and referee)

D = t * (M + R)t = developer reward rate (25%)

Video Source: Sean Logan

Happy mining.


Updated: Apr 24, 2020

Should I mine Pi Network coin? Critical factors to consider

In this article, we want to look at some factors on Pi Network to help you decide whether or not you should mine Pi Network coin.

If you are interested in Pi Network, pay particular attention to the utility section below.

Underlying philosophy

Bitcoin’s model is built in such a way that early adopters got hands on a big chunk of bitcoins and those who join later are rewarded less and less to the point that individuals without specialized equipment cannot even dream to mine any bitcoin today. 

This hampers the bitcoin adoption seriously since the only way to participate in the bitcoin ecosystem is to buy it if you do not have specialized mining farms.

This creates a big barrier to entry for individuals who are dabbling with the idea of cryptocurrency.   

Pi Network wants to change this model.

Their philosophy is embedded into their system design. It includes:

  • Simple: Build an intuitive and transparent model
  • Fair distribution: Give a critical mass of the world’s population access to Pi
  • Scarcity: Create a sense of scarcity to sustain Pi’s price over time
  • Meritocratic earning: Reward contributions to build and sustain the network

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Mobile First approach

Mining Crypto with SmartphoneTo accommodate mass adoption, Pi Network went with Mobile first approach.  In doing so, they made sure that the users data or battery is not drained by Pi Network app.  

This eases the resistance users have about installing a cryptocurrency mining app. 

The average Pi Network coins you receive will depend on how many people you have referred using your code.  

This ‘referral’ model is a time tested one and has contributed to Pi Network growing over 100,000 miners around the world.

Looking at these numbers and how little their advertising has been, it looks like they might actually realize their mission and vision.

Our Mission: Build a cryptocurrency and smart contracts platform secured and operated by everyday people.

Our Vision: Build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency.

Balancing scarcity and access to the network

Pi creates a fixed supply of Pi coins for the first 100 million participants that join the network. These pre-minted coins are then released to these participants over their lifetime on a decreasing function similar to Bitcoin.  

Referrals and Developers also will get rewarded. Developers will be rewarded based on the contributions they make to the network.

While the initial miners will get more rewards than those that join later, everyone will have the ability to take part in the Pi network.

Ingenious utility from shared trust, social media, marketplace, DApps 

No matter how great the design of a cryptocurrency is, if there is no utility – it will eventually die out.  

Pi Network’s utility goals include creating a platform where users can share their collective views which would then be rewarded through Pi Network. Companies like Amazon, Yelp, etc., rely heavily on user data/reviews but users generally do not get anything back. Building a global shared trust space among Pi Network “will facilitate transactions between strangers that would not have otherwise been possible.”

Shared social media space will facilitate Pi Network users to wager their tokens to garner attention of the network.  

White paper explains “You can think of the scarce social media channel as Instagram with one global post at a time.”

How much would you pay if you knew that you were going to get the attention of over 100s of thousands of active smartphone users and with over one million App downloads? (as of this writing)  Pi Network already has over 100,000 pioneers who applied to act as nodes/supernodes on the Testnet. What if you have an ad that gets displayed before users can hit the ‘mine’ button? 

Pi network App

Pi Network Node

(Source: Pi Network)

This could bring massive utility to the token. Advertisers will not care if a Pi coin costs 10 cents or 10 million if they are going to get the attention of over 100 million smartphone users in the future.  

Pi Network can also, in theory, design the network such that – advertisers only pay for the ads that are viewed.

It is ingenious that Pi App users are already accustomed to going into the app to ‘tap’ on the mining button. In the future, when ads come to the platform – advertisers are going to place their product in front of millions of smartphone users. This is better than Instagram since you are getting one ad a day. We could anticipate bidding type competition for the ad space.

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Storefront & payment built in with undivided attention – great utility

The roadmap includes opening a storefront on the app where people can list their products and buy & sell using Pi coin.  If you can grab attention of a million users who could trade using Pi Coin, the sales could soar and make it much more attractive to the businesses to advertise on the network. This will in turn increase the utility of the Pi Network in general.

Don’t forget the DApps: in the end Pi Network should also get utility and demand from the DApps that are built on the network.

The more we read into the simple yet genius plan behind Pi Network the more we are convinced that it is totally worth it to join the network (of course, this assumes zero data breaches, hacks, etc.,).  

This Stanford trio may have laid the foundation for the most global and inclusive cryptocurrency yet and if everything goes according to the plan – it could disrupt a lot of intermediaries and turn a lot of heads in the process!

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Update: May 1, 2020

Pi Network to launch In-App ads and nodes

What to expect?

Quick overview of in-app ads on Pi Network

Quick overview on becoming a node on Pi Network

We have been following the updates on Pi Network closely. It looks like they are moving along with their road map. They are also looking to democratize the decisions based on feedback from the community.

For instance, after reviewing over 10,000 comments and 130,000 responses submitted through surveys about in-app ads, Pi Network has now decided to launch in-app ads.  

According to the in-app announcement, roll out will take place after in-app ads will be tested with a brief skippable video and a small banner on the screen to see which one works well from a user experience point of view.

Announcement read: “based on your 130,000 responses about ads placements, we decide to initially test the top two voted ads placements: 1) A brief video ad that you can skip after a few seconds during time wasted waiting for the app to load, but not every time you open the app (28.2% of the responses selected this option as the best ads), and 2) A small banner ad at the bottom of the screen in place of the “Send 1 Pi” button (47.0% of the responses selected as the best ads). The other two placement options got respectively 12.7% and 12.1% of responses selecting them as best ads.” 

Increasing Costs to cover the project

The decision to introduce in-app ads comes from the fact that Pi Network costs to run the network.  

According to the announcement: “Our network grows and scales so fast, we need to develop a sustainable funding model that can help cover the costs of maintaining the Pi Network. The current costs of the servers and the phone verification service alone run in excess of $30,000 USD a month just to maintain the account of each Pioneer in the network, not to mention the development, maintenance and operational costs.” 

The creators of Pi Network have emphasized that although ads will be introduced the format will be selected based on feedback of user experience. “Strike the optimal balance between two key variables: ad revenue and impact on user experience,“ announcement read. 

Nodes are coming to Pi Network

Pi node

To run the decentralized network, Pi will need network strength. As the apps are only used to activate the mining and other future functionalities, Pi is requesting people to act as nodes.

A node is a computer that provides computing power to run the network.  Bitcoin was built on this model and such nodes are rewarded with native coins, in Bitcoin’s case, bitcoins and in Pi Network’s case – Pi coins.

The hardware specification, earning rate and other details are not yet available.

How to be a node on Pi Network?

If you are interested in becoming a node on Pi Network, you can go to the Pi Network App and apply to become a node. The applications are currently being reviewed and you will receive the instructions once the nodes go live.
Note: we will update this space once further instructions are provided.

Disclaimer: Except for the increase in mining rate when someone joins our network, we do not get compensated or receive any other benefits for this write up.

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Updated: 18-May 2020

Pi Network launches Pi Apps prototype and first pilot App

Pi Network is moving ahead with its roadmap and vision.  They are planning to release the platform on pilot basis during Q2 2020 to learn the interface, functionality and accessibility to make it better before the platform becomes open to the broader public. 

Pioneers will be able to join the apps released on the platform to provide feedback. 

First among the Apps to launch on the platform is FeverIQ by Enya.  

Alan Chiu, co-founder and CEO of Enya, and Jan Liphardt, an engineering professor at Stanford University and co-founder of Enya, introduced FeverIQ on the Pi Network app. 

Alan is the co-founder and CEO of Enya, a privacy-preserving analytics startup based in Palo Alto, California and Jan is an engineering professor and co-founder of Enya. Nicolas and Jan teach one of Stanford’s blockchain classes.

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COVID proximity and symptom tracker with a lot of security features

Enya, the company behind FeverIQ, on its website describes itself as “Enya is the leader in enabling privacy-preserving analytics everywhere, including mobile devices. With the rise of consumer concerns about privacy and the increasing cost of complying with privacy regulations, companies are looking for solutions that help them earn the trust of customers and reduce their data liability. Built on decades of research in cryptography, Enya offers the easiest way to analyze sensitive data without compromising privacy.”

FeverIQ helps people self-report their symptoms and those who got tested can provide their ‘test status’ as well.  The objective is to provide real-time analytics for people and learn about the most common symptoms of the virus to better handle it.  

None of the personally identifiable information of the users is revealed, according to the creators of the App.

The transcript from the video reveals that “FeverIQ allows you to securely share your symptoms. You can see a map that updates in real time and shows you the symptoms that other people around you have shared. If you report your test result you will help scientists better understand which symptoms are most predictive of Covid-19. The discoveries from your contribution will also help policy makers manage the pace of reopening the economy.

Because of Enya’s privacy-preserving technology, nobody knows your location or personal information – not even us. We downsample the location to 1km resolution, and never collect any identifiable information about you.”

Stanford research based easy to use COVID symptom tracking app

This prototype shows how easy it is to navigate the heat-map.  According to Alan, the app was designed based on Stanford Research information.  

The app is expected to let users check-in every day as to how they are feeling and the test results (if they had one done). 

They aim to help the places where testing infrastructure is limited through this app.

Pi Network App

Source: Screenshot from the Video within the Pi Network app

FeverIQ’s website is live with its COVID-19 Risk Calculator where users can volunteer to enter information on a ‘non-name’ basis.

“Because of Enya’s privacy-preserving technology, nobody knows your location or personal information – not even us. We down sample the location to 1 km resolution, and never collect any identifiable information about you,” founders explained.

The introduction of the FeverIQ app video states “We are excited to work with you to help stop the spread of Covid-19 and to help your neighborhood re-open safely. Together, we’ll tackle one of the most pressing health challenges of the century, while demonstrating the value of Pi’s distributed, global community.”


updated: 04-June-2020

Ads go live & Nodes selection starts on Pi Network app

Ads go live on Pi Network app

As of end of May, 2020, ads are live on the Pi Network app. The ads range from crypto related projects to non-crypto related projects (like Constant Contact). Our hope is that Pi Network team is going to launch the DApps and other utility along with formulating a plan to share the ad revenue through creating value for the token (similar to BAT).

pi network ads

If the project fails to deliver on the timeline, negative chatter may emerge that this was all a ruse to get people to join the network to make it ‘valuable’ for the creators of the app and it was never about the blockchain movement.  However, this is too premature to speculate and comment on.

We will try to reach out to the creators of this project to see if we can get them for a quick interview and/or Q&A.  Stay tuned.

Pi Node applicants go to KYC

In another update, Pi team has confirmed that they have initial list of nodes and they will start the KYC process soon.  Of the 150,000 pioneers who installed the nodes about 3000 qualified to be considered for the nodes.  The team is going to initiate KYC process through a third party vendor to further filter the nodes.  The selection will also look to pick supernodes based on the availability and stability.
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updated: 06-June-2020

Pi Network KYC now live through Yoti

Those who have applied to act as Node on Pi Network have started receiving the Pi Network notifications for Know Your Customer (KYC) verificiation. Pi Network has partnered with Yoti to conduct the KYC.

Once you see the prompt to verify your identity, you have to install the Yoti app, upload your government ID and wait for them to confirm the document verification.

How to use yoti app

We have to concur with the reviews on the AppStore. We were not thrilled with the app. We kept uploading our driving license and it kept showing ‘failure’ message and insisted that we upload a different ID. We are personally not aware of other solutions that do a better job or the criteria behind selecting Yoti in spite of the ratings on the AppStore.

All is not bad though. To their credit, the app did provide help option under the More (with three dots) section.  They promise to reply within 3 hours. We got the driving license accepted on our second attempt.

Yoti app kyc

In our personal opinion, we don’t like the whole verification tools out there as we do not have a way to rely on their document protection and retention process.

Once the KYC is done, the Pi Network team will select the nodes to support the network.



updated: 20-June-2020

Pi Network Platform API, Node and Scaling updates

Pi Network has released updates on its progress.  This update contains information related to 3 aspects: Platform, Node and Scaling.

Platform API

Pi Network is now successfully interacting with the DApps.  Their first DApp called FiverIQ has been live and is interacting with the Pi. There were initial hiccups, however. In this update Pi Network team confirmed that “In the current prototype live in the app, almost no such reward issue has been reported. The Core Team is also working on fine tuning the initial Pi Platform API and creating a testing environment, and we aim to make them available for developers in our community very soon, so that community members can apply to be developers and start building Pi Apps in Q3 of 2020.”

Node

Pi Network will soon shift the Docker container from Node interface to run the consensus algorithm. In other words, Docker container will be ‘pointed to’ consensus algorithm to run the blockchain.  The team confirmed that “this will enable us to test run the Testnet with centralized configurations initially and enter the Revision Stage of the Testnet Roadmap.”

Scaling

The team attributed some of the recent slowdowns and crashes to its backend testing of the architecture and that the lite mode was specifically created to ensure that the network keeps working while the pioneers are still able to perform basic functions. Team has used lite mode as a way to address the scaling aspect.  The update also stated that “In order to minimize service disruptions of the Pi App and improve Pioneer experience during such disruptions, we built and introduced the Lite mode that allows Pioneers to perform the most crucial and basic actions, i.e. login and mine, instead of having complete service outages.”
The team is expected to rollout more updates at the end of Q2.

Pi vs. Bitcoin

Some people have asked us about the difference between Pi and Bitcoin, so we thought it would be easy to show them in a table.  If we missed any or got anything wrong – please let us know.
Pi NetworkBitcoin
Created by Stanford AlumniCreated by an anonymous person or persons or group
You can mine Pi on smartphoneBitcoin requires specialized equipment to mine
Everyone with a smartphone and internet can participate in Pi NetworkOnly specialized miners are able to claim any bitcoin rewards
Pi has the advantage of using the best of blockchain technology based on industry learning curveBeing the first, Bitcoin is attributed as store of value, however more layers are being built to make it useful for everyday transactions
Fair distribution: Pi Network is designed in such a way that new adopters too can get access to the Pi coinsEarly adopters acquired a massive amount of bitcoins and the new adopters cannot get access to the bitcoin without spending thousands of dollars
Acquiring Pi Network coins is quite inexpensive. The app does not burn the data or battery to mineAcquiring Bitcoin now is very expensive for many people in the world. This is one of the reason why people are not investing in Bitcoin
Pi Network has referral system that encourages people to invite others to the network to increase its tractionBitcoin does not have any referral system; anyone with required equipment can connect to the network
Pi Network runs on appBitcoin does not run on app
Pi Network app relays ads; it is expected that the ad revenue is going to used to increase the value of network and the coins in futureBitcoin does not run any ads on its nodes

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Update 7: 29-June-2020

Pi2Day celebration on social media Pi Frame with 6 Million pioneers

Each year on the 6/28th Pi Team celebrates Pi2 Day.  This year it is quite special since the celebration will include over 6 Million engaged Pioneers globally.  Pi Team is well on its way to the 10 Million mark.  The announcement from the team reads “As some of our early Pioneers may remember, we celebrate June 28 as Pi2 Day (3.14 multiplied by 2 is 6.28). Part of the reason why we celebrate Pi2 Day is that it coincides with the end of the 2nd quarter of the year, and part is for us to share a community activity together,” the announcement continued “This year, we’re celebrating #Pi2gether on social media with a Pi frame. For Pioneers who use Facebook, you can add the Pi frame to your profile pictures here or to your videos/photos through this Facebook Camera frame here, and share the Pi-framed post with #Pi2gether on Facebook. For Pioneers who don’t use Facebook, you can adapt and share this image on other social media for Pi2 Day 2020.”
pi2gether
The team promised to provide more updates with the end of the Q2 and hinted that the team will host a global online convention. 

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Update 8 : 02-July-2020

Pi Network releases Pi Apps platform for developers

In an exciting update, Pi Network has launched DApps platform for the developers.  The developers can use any programming language on the backend and use JavaScript to integrate on the frontend.  The platform will enable developers to start building apps that integrate Pi Currency and ‘be ready’ to launch on the mainnent once it is live, thus giving access to millions of Pi Pioneers/users.  This update is in line with Pi philosophy of mass utility and decentralization, the announcement states “once they are ready and the blockchain becomes live, their backend will be able to adapt to hit the Pi Testnet or Mainnet directly, eventually achieving decentralization. This ensures the development of utility and decentralization in parallel rather than in sequence, just like Pi Network itself.”

Pi network Apps

Enabling Pi Cryptocurrency spending
“Requesting payments from Pioneers is the main feature of this version of the Pi SDK. It may appear to be a simple interface, but it’s significant because it means developers can get paid in Pi by serving various applications to Pioneers, and KYC’ed Pioneers can spend their Pi in different applications,” the announcement clarifies.  This will pave the way for creating utility for the Pi Cryptocurrency.  Any cryptocurrency is only as valuable as the strength of its network and the utility of the DApps on the network.  By inviting the developers to create DApps with great utility and making Pi Cryptocurrency as the utility token on these DApps is how you create value for the Pi Cryptocurrency.
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All are welcome
Pi Network is inviting developers from the world to test the Pi Blockchain.  The announcement welcomes thus “to build their applications on Pi, whether they are already Pioneers, developers of decentralized applications on other blockchain platforms, or developers who haven’t had experience in the decentralized world yet.”
Bringing great diversity of DApps will increase the Pi Network value and for the developers it gives access to the incredible Pi Network Pioneers users base that consists of people who use smartphones and are always connected to the internet.  That is quite a powerful demography to have direct access to through the DApps.
While it might be too soon to celebrate, we are quite happy with the way Pi Network has been keeping up with their Road Map deadlines and progress.  We wait to see what more lies in Pi Network’s future.
You might find these links:

Update 9: 10-July-2020

Halving may prevent new users from mining Pi Cryptocurrency & Q3 Convention

With over 6 million pioneers on the Pi Network, the next halving will hit as soon as the project hits the 10 million pioneers milestone.  The reminder on the Pi app shows that there is a possibility that new users may not be allowed to mine on the platform.

It is not clear at this point if the team will remove the mining feature for new users as soon as the 10 Million pioneer milestone is reached or if they will implement it after reaching 100 Million critical mass.
This year’s convention will be online
“The Core Team has started planning on the convention and aims to hold it sometime during Q3 of this year. Due to the pandemic of COVID 19, the global convention will be online only,” announced the team.   The convention is expected to cover these specific topics: “1) the progress in decentralization, i.e. node, Testnet and technical challenges and solutions; 2) the applications of Pi and the direction of the Pi Platform, e.g. showcase of applications by developers, how to create demands for Pi through applications and the platform development.”
The agenda, speakers list, pioneer speaker selection criteria are expected to be released shortly.  Team has been consistent in ploughing through their roadmap and it is quite impressive on how they keep up with the schedule.

Update 10: 01-August-2020

GenerationPI Giveaway: Opportunity to choose who builds on Pi Network

GenerationPI Giveaway is underway and 10 winners will be selected to receive the Pi mugs.   All you have to do is to join the contest via Facebook or Twitter and tag the brand you like to see build on Pi Blockchain Apps Platform.
You can join the contest via Twitter here.
You can join the contest via Facebook here.

If you have been involved with Pi Network, make sure to let your voice heard through this contest.

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Update 11

Pi Network Convention – inviting applications for Speakers

Pi Network team is going to conduct this year’s convention online and is inviting applications for speakers in two categories: Community track (influencers) and Developer track (developers who intend to build on Pi).
Those who speak English with content relevant for global communities can be on the Global session while those with regional language skills can opt to be on the Regional sessions.
Pi network updates
Application Process
According to the office announcement, “there are three stages in the application process to be considered as a speaker for the Pi Convention.
  1. First application for Speakers. The Pi Core Team will read applications & invite potential candidates for the next round application.
  2. Second round application. Candidates will be asked more in-depth questions about their presentation & to provide a short demo video submission of it.
  3. Final selected speakers will be contacted and notified.

If you are interested in speaking at the Pi Convention, please apply HERE.”


Update 12

When will Pi Coin list on exchanges?  Mine before the rates are slashed

As it turns out, even BitBoy refers to our article for information. You can see that in the below video CryptoTapas article is being referenced when talking about Pi Network.

In this video, BitBoy hints that the team is working on the exchange listing and that we could soon see Pi Coin on an exchange. However, this information has not been confirmed by the team or on any official channels.

In another news, Pi Network’s earning rate is going to be slashed to half or completely shutdown once the network reaches 10 Million pioneers. Pioneers is the word used to refer the individuals who start mining the Pi coin on the Pi App.

Those thinking to get into Pi Coin might want to start mining while the rates are still good.


Update: 12-September-2020

Pi Network presses – app now runs blockchain

Not everyone can access this blockchain feature, just yet.
The core team will roll out the launch for technical reasons. What these reasons are precisely are not listed, however, we speculate it has to do with security.

“We’ll initially enable the blockchain container to only Node candidates running (i) Windows 10 Home or Pro that are upgraded to the latest version from Microsoft (version 2004) with WSL 2 and using Docker Desktop, (ii) any macOS version with Docker Desktop. In future versions, we will enable this functionality for more operating systems, and we will try to make the blockchain work on Docker Toolbox. The goal is to enable all Node candidates to be able to turn on the blockchain container to follow the testnet blockchain as it evolves,” the update reads.

This version of Pi Network marks a major milestone on the roadmap which takes the project to the second stage: Revision Stage.
 
Based on the data gathered from rolling out the blockchain to selected candidates, Pi team can run stress tests using a broad scenario set. These tests will give the core team enough data to add capabilities to Nodes and Supernodes on the network to build a more resilient blockchain solution.
 
According to the update, core team has run 8 iterations to fix as many bugs as possible to reduce the frustration at the Pioneers level.

Our take on the project

It is quite refreshing to see how the first pilot project is aimed at solving a ‘real-world’ issue rather than creating FOMO of sorts.

Obviously, there are a lot of solutions out there that are aiming to achieve a similar objective, however, the user data privacy is arguably a big issue with those solutions.

An app that focuses on symptoms tracking rather than ‘particular patient tracking’ could be helpful in ‘alerting’ the communities as to when they have to be extra-cautious in their locale.

Thank you for reading and sharing this article and if you have spare satoshis lying around – consider donating.

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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CryptoSpace

Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

Continue Reading

CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

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crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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