MinePi the Pros and Cons

Update 15 Jan 2023:

If you want to join my circle: http://minepi.com/Blackswan122

Now at 32,655 Pi 28/196 so only 14% of my “Pioneers” have stuck around. I still try and refresh every day. I must admit I never thought I’d still have the patience to stick around. Maybe patience will be reward at some stage. According to my wallet I have 3,726 Pi in my wallet and 28,900 Pi as an “unverified balance” (subject to people doing KYC) I’m getting a bit impatient for a sign of value appearing in Pi. Do I think it’s a scam? Actually no as things are moving… if not VERY slowly.

Pi is NOT on any exchanges but Huobi and BitMart have listed IOU tokens at around $60… totally unrealistic. At 20,000,000,000 tokens (pre mainnet mining) that’s $1.2T…. But there will be a maximum of 100,000,000,000 $6T. What will the value be… I’ve no idea but not $60.

Update 28 July2022:

Now KYC’d… Knocking on 31126 Pi 40/196 It’s about time they kicked in the mainnet. There are some outrageous claims that 1 Pi = 5x kg gold etc…. or that people are selling or buying stuff for inflated prices.

Update 31 March 2022:

Mainnet is approaching….still not KYCd…no offer yet. 37/195 1.09 Pi per hour now 29700 Pi accumulated.

Update 17 December 2021: Mined Pi 26,791.. Well it looks as if Pi is at last moving to Main-net! I’ve no idea if I’ll get any of my Pi… as I’ve STILL got my landline number in as not verified… I can’t verify my landline and there’s still no way to change it. 🤬 I’ve refreshed Pi 511 times according to my stats. Yes I’ve missed a few days but then again I’m only human not a BOT. I’ve just got to somehow prove I’m not…

I hope they give me a chance to claim it somehow.

Anyway thanks to everyone who has stuck with me over the years.. yes years. Just under a 1/4 of all my miners are still active.

Update 18 June 2021: I just hit 20,000 Pi…. Remember it’s still worth…. Nothing.

Update 14 May 2021: Well I now have 60 people mining regularly with me and 160 that could. So about 2/3 gave up the fight. I still refresh whenever I can but sometimes forget.

I still haven’t sorted my phone number problem out though. No luck talking to MinePi… I’m beginning to think they don’t care. 😞

Mining at the magical number pi 3.14!

I just hit 100 miners…! 41 busy bodies. Thank you people. I still have sorted my phone number problem out though. It’s like talking to a brick wall at times.

minepi.com/Blackswan122 Username: @Blackswan122

Update: 1 January 2021 13,368 Pi. 31/81

Happy New Year everyone!

I’ve gained one active miner since last update. but gained 9 more people. I suspect people have given in after seeing the Pi mining award drop again.

I have a big problem which is I can’t change my telephone number. I entered my landline number in by mistake but the app won’t let me update it. Because of this I missed my KYC opportunity. I’ve tried to contact Pi many times but I haven’t had an answer.

I just hope they give me another opportunity to rectify my error. The platform is a bit harsh on user error. It may ultimately mean that I lose ALL my mined Pi. I just hope the team listen at some stage. With 10 million user I suppose it’s quite hard.

I’ll keep on mining to the bitter end though. …..whatever that may bring.

Update: 23 October 2020 11,300 Pi. 30/72

I haven’t logged on every day… I keep on forgetting. Gained 10 miners and 7 regular miners! Thanks all keep at it. I will try and be more online.

Update: 7 September 2020 10,000 Pi. 23/62

I just hit 10,000 Pi! Thanks to everyone who has stuck with me.

Update: 4 September 2020 9859 Pi. 26/60

I’ve gained a few miners that are staying true. I’m very close to 10,000 Pi. I’ve not been chosen for KYC yet. I expect some of my miners not to pass or even want to pass KYC. Doing KYC is giving a lot of personal information to someone that you have to trust. Not everyone will want to do it.

Update: 12 July 2020 now 8186 Pi. 23/53

I’ve gained more total miners but lost a few active ones. It’s a constant battle to retain followers who are consistently online. ETN has dropped a couple of cents since stopping mining to $0.0055 from $0.0074 its the only comparison to Pi at present. I’ll should break the 10,000 Pi mark in exactly 30 days!

Update: 26 May 2020 now 6319 Pi. 26/47

I’ve gained 7 miners in the last month and my miners are online a bit more. 2.95 Pi an hour is the highest rate that I’ve seen since I began.

Electroneum just stopped free mining as they are moving into „Phase Two“ their token price shot up briefly. Could this happen to Pi at some stage?

Update: 26 April 2020 now 5005 Pi. 20/40

Gained 6 miners since 10th April. Mining at about 20–23 regular miners. Pretty good actually. Currently not doing node mining.

Update: 10 April 2020 now 4300 Pi. 22/34 miners. Team still visible and now Node mining has started. I’ve not yet started on Node… needs time to mature in my opinion.

Update: 14 March 2020 now 3274 Pi. 14/21 miners now active. The actual team seem to be more visual now by appearing in App. Thanks for joining new comers.

Update: 03 Feb 2020 now 2126 Pi. 8/13 miners are now active. Once again thanks for sticking with it.

Update: 30 Dec 2019 now 1550 Pi. 6/10 miners are active which ain’t bad! Thanks for staying true.

By now you’ll probably have been bombarded with referrals to download and „run“ the MinePi App for the not yet released Pi Network (first couple of quarters 2020)

Here’s my referral link to get YOU started.

minepi.com/Blackswan122

I make no apologies for including my referral here as this is the ONLY way to grow the network adoption prior to the launch of the main net in 2020.

Pi Network is trying to become the next Bitcoin, like many others it may fail. 🤷🏼‍♂️

How does it work? Well you download the app and logon using your Facebook login or a phone number. Normally both are connected anyway. From there on you’ll have to press the little green lightning button every 24 hours to prove you’re a real person. (See pic)

The App doesn’t even need to be on and running, you just need to press that little green lightning button at the end of every 24 hour mining session.

There are three levels Pioneer, Contributor and Ambassador.

Heres a quick explanation of the “Earn Pi“ Screen.

Pioneer being the lowest level. You’ll have to mine 3 sessions of 24 hours before contributor is available.

Contributor means you’ve completed 3 days as a pioneer and can add people into your security circle to secure the network. Doing so will give you more Pi per hour. (See pic)

Ambassador means you’ve helped the network grow by letting/getting people to use your referral link to grow the network. Each person can only join once.

Well the mining rate has halved but I’ve managed to add a few new members to compensate a little. Remember it’s NOT how many members you have that counts but how many are ACTIVELY MINING.

2nd December now at over 1060 Pi!

There’s no LIMIT to how many people you can invite. In fact the more the merrier!

Here are some answers to questions you might be asking yourself.

• It’s currently worth nothing but when the network goes live you will be rewarded the Pi you have been mining in BETA which is where we are at now. Exchanges will come later!
• Early members mine more as they are the people who helped it hopefully get off the ground in the first place. Yes! You and Me. minepi.com/Blackswan122
• The mining rate halves at different stages. The first being 1M users (just happened!) the next being 10M, 100M last two to be confirmed.
• You can read the Whitepaper and find out much more about WHAT Pi is WHY it’s being introduced and WHO is behind it, namely three Standford University phd graduates.

My username to get you started @Blackswan122

My referral: minepi.com/Blackswan122

There’s a chat link where you can chat with your followers too.

You’ll probably not get rich but you’ll have had at least fun trying.

The app doesn’t drain your battery power… it mines when it’s OFF too. You just need to press the green button at the end of each 24 hour session.

It’s FREE!

I’m a crypto veteran from around 2010-2013 where I’ve mined Bitcoin and Ethereum via cloud and home rigs.

I joined the Ethereum revolution at about $4! So I know what can happen when you see an opportunity and take it.

PROS of Mine Pi

• It’s free!
• No upfront costs.
• Very little risk, if at all.
• It’s the possibility of being a pioneer in something potentially much bigger.
• It’s fun!

CONS of Mine Pi

• New, uncertainty if it’ll ever really take off.
• You’ll get a lot of halfhearted miners who will stay for only a few days or forget to refresh.
• Frustrating not getting something that you can sell immediately on an exchange. Exchanges will come eventually. Patience needed.
• Be careful with your data.
• Roadmap is unclear.
• Scam? A scam is where someone takes money off you and you get nothing in return. Mine Pi isn’t taking anything from you except your Facebook login and doesn’t qualify to be a scam.

Words of caution:

Beware of scammers in groups and so called exchanges dealing in Pi…. It’s not on ANY exchanges yet as the Genesis block hasn’t even taken place. We are in BETA MODE.

Be always aware of your data.