The first digital currency you can mine on your phone
Here is a little intro about Pi, I will try to explain what it is.
PI coin is a cryptocurrency you can mine on your phone and it is profitable because it doesn't use your battery or RAM. It was designed by a group of Stanford PhD graduates and it can definitely become something big because it realies on its community, that is, the users and their joint engagement. PI is mined through proof of consensus, which is basically where your phone communicates with a bunch of nodes and nodes collectively decide on what the solution to the next block is (whereas with BTC it's more where the solution is already set, and whoever gets the solution first gets the reward).
The app doesn't drain your battery or uses RAM because it doesn't rely on proof of work, instead on proof of consensus, how much reliable users you have in your secure circles, the more your mining rate is and more coins you get.
How good is it? Well, I don’t know because it isn’t on the market yet, it’s still in beta phase. But, it’s free, doesn’t cost you anything to try. Maybe it won’t be worth something in the future and maybe it will, you never know, the same was for bitcoin, people didn’t know what to expect, and now you can see for yourself where bitcoin is right now.
What is the expected value going to be? It really can’t be determined just like that, it depends on a lot of factors like demand and supply, news influence is one of the main factors, etc. First, it needs to hit the market and then we can talk about what the expected value is going to be.
The real question is how do you mine? You have to open the app and click on one button every 24h so that you prove that you are credible contributor to the network and that's how you mine. It doesn't need to run in background, so you can close the app at any time and open it after 24h to click the button again and it will still mine, ie give you coins.
Creators published the whitepaper of the project on their site so you can examine for yourself if you want to give it a shot or not. Network is rapidly expanding and as right now it has more than 2million engaged users.
For signing in to the app you need an invite to be able to join the network because it relies on secure circles, you can use code cryptoluggage20 and start mining.
I hope that in the future it will grow as huge as bitcoin because it is proven that it's possible.