Cryptocurrency and Bitcoin are the two terms we have all been hearing for quite a while. Now, there is a new term trending on social media drawing everyone’s attention. The Pi Bitcoin Network describes itself as “the first and only digital currency that you can mine on your phone”. This means that if the Pi cryptocurrency becomes successful in the coming years, millions of people will be able to become Bitcoin miners.
What is Pi Network?
Pi Network is basically a mobile app developed by Stanford University PhDs. The app received quick popularity in Vietnam. Pi Network became the 22nd most downloaded mobile app in Vietnam by iOS users. While many experts think that it is a scam, it is still a point to question why a scam could lure millions of users across the globe.
The Facebook page of Pi Network broke the news on February 19 about the initial success of the app. As per the news, the app has successfully reached more than 13 million users worldwide.
Pi Network claims to be a digital mining app that does much more compared to owning a Bitcoin. Here’s what users from Vietnam have to say about it:
“We no longer have a chance to own Bitcoin, so let’s switch to mining Pi. You lose nothing. After a few years, if the project succeeds, each Pi could be worth dozens of U.S. dollars,” said Duc Danh, a Facebook user in Ho Chi Minh City.
“I have invited eight friends to mine with me. Now I have more than 10 Pi, with a mining speed of nearly 0.3 Pi per hour,” said Nguyen Nhat, a Pi user, also known as a “Pioneer,” in Ho Chi Minh City.
What is the value of Pi Network?
As of now, the value of Pi is not confirmed. Although many users have claimed different estimates, we do not have an official word about it. Social media users have shared the estimates of Pi worth $10-$100 each.
It is too soon to say if the Pi Network will be a game-changer in the cryptocurrency global market. Many experts believe that the app is just a scam and will reveal in time. However, to find out if that’s true, we will have to wait for some time.