Will PI coin succeed?
There has been a huge hype about Pi network. Most people closely following Pi are new to crypto and there are lot of my non-crypto friends who are joining Pi network crazily. It is trending mostly in Asian and African country, mostly in India, Nepal, Philippines and Bangladesh. But is it really worth it?
The main selling point of Pi coin is easy mining. Is easy mining wanted in crypto? If it is easy mining and everyone will be making coins easily who will buy the coin and how where will the coin get value from. If the coins has little value, we need to mine tons of it to earn any significant money, which will in turn make it difficult mining.
Consensus algorithm like Proof or Stake and Delegated Proof of Stake help to verify network without using high electricity. Mobile mining for everyone doesn't look promising for me and it should not work. We have seen some shitty projects like electroneum which are now almost dead which were selling same promise and Pi network doesn't look anything different.
Why Pi network is doing this?
There are many sources Pi network will benefit from
- They will earn from ads.
- They can sell their token.
- They have access to millions of data.
- They have publicity.
What can you do?
Just don't promote Pi network or anything like that. That's all! Stick to great projects like bitcoin, steem and tron.