Mining PI on phone?

[RiverRat1]

And a pyramid scheme you make say 20% off people under you, 10% off the people under them..and on down..

This is what they call a "mining circle" You create a team of up to 50 (most people have 3-10 people) people that all mine Pi. It's one of the basic principles of crypto, which is security of data.

Anyways...probably too late to get started now but?? We should know within another year what each Pi is really worth.

[Pineywoods]

Each Pi is trading over $50 now. You have to follow the steps in order to be able to put them in your crypto wallet. A little pain but worth it.

You also have to check and see how much you actually have. The number on top of the Ap is the total you "could have" But everyone mining Pi under you has to do KYC (identity thing) and move theirs to their wallet before you get all of it.

Mine says I have 14,100 Pi.. So I thought I was rich as that's over 700k But I only really have 1k which is dang good if I ever move it and sell it.

So everything that you've earned via the multipliers for referrals only becomes available once the referrals have been verified and have moved it to their wallets? So the 1k Pi that you have access to is just from mining at a base rate? Just trying to understand as someone who has never messed with crypto or NFTs and has little understanding of it all. Right now I only have 3 referrals that are actively mining.

[RiverRat1]

So everything that you've earned via the multipliers for referrals only becomes available once the referrals have been verified and have moved it to their wallets? So the 1k Pi that you have access to is just from mining at a base rate? Just trying to understand as someone who has never messed with crypto or NFTs and has little understanding of it all. Right now I only have 3 referrals that are actively mining.

Yes, pretty much. This is a thing all by itself. It's not normal crypto. I found Pi on Reddit and figured out a lot from there.
I don't think the referrals have to move it to their wallet but they do have to go through KYC. Basically proven to be a real person.

[Grand Passage]

I hadn’t thought about the Pi I mined in years. My wife and I mined some a few years ago. We have an enough to pad the budget a bit, but not get rich at todays supposed value.

Guess I’ll start working on the steps to get the Pi moved to a crypto wallet.

[Drycreek3189]

Y’all might want to start picking up cans on the side of the road. Make money and help the environment. Win, win !

[Pineywoods]

The "IOU" value of Pi is at $77 today. It's expected to double that once it hits the mainnet in January.

https://coinmarketcap.com/currencies/pinetwork/

[RiverRat1]

Looks like you can now officially trade Pi through exchanges. It's trading just over $1.
I'm thinking it goes on major exchanges and makes it into the top 10 crypto over the next year or so.

[Duane]

What happened to the $77 it was supposedly worth in November and the expectation of doubling in January? Was this just another one of those pi in the sky crypto dreams?

[GarGuy]

What happened to the $77 it was supposedly worth in November and the expectation of doubling in January? Was this just another one of those pi in the sky crypto dreams?

Man you can't have your PI and eat it too...

[RiverRat1]

What happened to the $77 it was supposedly worth in November and the expectation of doubling in January? Was this just another one of those pi in the sky crypto dreams?

I didn't say that.
When it was "trading" between $35 and 70 those were private trades..Not on or through any crypto exchange. So don't worry, no one here could actually buy it or sell it for that price (unless they are far smarter than I am).

It's already up to #13 as most valued Crypto. That's pretty dang good.

And FTR - I'm not saying buying this now or even when it was trading on the real exchanges for 65 cents was/is a good idea. It's just a really neat crypto concept that I pounded the table for people to get into (for free BTW) long ago.

I'm not a financial advisor but I'm pretty sure investing in something for zero carries a pretty low risk.

[RiverRat1]

After finally figuring out how these coins work I now believe they will be worth under 10 cents in the next 2-3 years.
IMO it all comes down to total number of coins. All the coins not verified will (supposedly) be returned to the supply to be mined by someone else. Right now there are 7 Bil coins but eventually there will be 100Bil. I was hoping they'd burn (delete, or let sit useless) the billions that were unverified.

Example - I have 14,500 Pi but only 3,000 are verified which means proven to be mined by a person/s. Most people that mined at one point or another just stopped and/or deleted the Ap and never took the steps to take the coins. So I was hoping those 11,500 coins would just be uncirculated. But since they will be returned to the pool and mined again that's just far far too many Pi coins.

I could be wrong how this works but I figured I'd let some of you know you probably won't make millions off this Was sort of disappointing. But maybe it can make another run up to $3 or so one day.