What Is Pi Network? 

 Hello, and welcome to another video with me Christian Rauchenwald. 
Now, in today's video, we aregoing to take a closer look at Pi Network or MinePi.com. 
And no I'm not talking about somekind of bakery network, 
but about a cryptocurrency that was founded in 2019. 
But the reason why we're talkingabout Pi today is because I recently made a couple of videos exposing acryptocurrency based ponzi scheme called Forsage if you haven't seen them,

but you're curious, I'll put a card up there to the more detailed videothat walks you through all the steps. 

And one of our viewers left a commentasking me to look into Pi if it's legit

 if it's worth it and so on. And so I took a couple of minutes totake a closer look into Pi Network, and I was actually surprised aboutwhat I found and I'm going to share what I found with you in this video.


 But before we talk about the detailsabout Pi, if it's legit, if it's worth the money and so on I think I want toclarify or create some kind of foundation. 
  • Now you're most likely already know whata cryptocurrency is how it works and sure as hell you already heard about Bitcoin.
  •  Nowadays the biggest problem withBitcoin and other cryptocurrency is that if you would want to minethat coin you will need special or very powerful hardware, and you willget a quite high electricity bill. 
  • And because of that people that alreadyhave a lot of money or bigger corporations and people living in countries whereelectricity costs less have an advantage. 
  • In fact, that actually also let to roughly 80% of all Bitcoins out there being owned by a small circle of people because they jumped on the train early enough and invested their profits into buying better and more hardware in countries where electricity is cheap so that they nowhold the majority of all coins available. 
  • And that's one of the majoraspects of PI or PI network. 
  • You cannot just buy ASIC miners forthousands of dollars or use very powerful hardware to mine the coin. 
  • PI is designed to be mined onyour smartphone and that with almost no impact on your battery. 

  • Now how does this work exactly?

  •  It actually is quite straight forward. 
  • PI launched roughly a year ago and it's created by a couple of Stanford professors. 
  • Which gives PI some kind ofcredibility or could also just be used to disguise a scam by usingthose professors to gain credibility. 
  • But overall we can veryeasy answer the question.

  •  If PI network is legit or scam by asking our selves. 

  • And the incredible answer here is zero. You don't have to spent anymoney to start mining Pi. I can already hear you sayingthat there has to be a catch because nothing ever is for free. And yes, there is a catchPI is a new cryptocurrency. It's only on the market for a year. As of now you cannot trade it, which meanstheoretically it has exactly zero value. And that's literally the onlydownside there is with Pi network. We cannot say for sure if and whenPI will actually be tradable and what kind of value the Pi coin will have. However, it's also an amazing opportunitybecause as of right now, there are 7 million users in the PI network. And until a hundred million users arereached, people will be able to mine the Pi coin on their phone, whichmeans you're still among the first 10% to adopt to that new "Bitcoin". And all you have to do is click onthe link in description down below. Download the PI app. And since it's currently by invitationonly, on the screen where you are asked for your invitation code, yousimply have to enter "RauchenwaldC", basically my last name and the firstletter of my first name, but you can also just check the descriptiondown below and copy it from there. Now, once you've installed the app andyou went through the signup process by either using your Facebook accountor your phone number and entering the invitation code, which again, you canfind in the description down below, you will see something like this, whichwill be the PI dashboard and where it currently for me has a green bolt iconthat says zero point 35 Pi per hour. For you it will show a lower numberand it will be white, and all you have to do is press that icon andthat you'll need to do once every day. So every time you push that button, yourphone will mine for 24 hours and you will get the Pi coins that are shown below. So in my case, for example, I'mcurrently earning eight point something Pi coins within 24 hours. And I'll be able to keep mining atthat or a higher rate, depending on how many people I invite anddepending on how fast Pi actually reaches a hundred million users. So based on all that PI isactually a great opportunity. It may turn out that it nevergets to market or never will be listed on an exchange. Then you basically wasted just acouple seconds every day, pushing the button to start the mining over again. But in my opinion, more likely it willeventually become a coin that you can trade and it will have an actual value. So what you get rightnow is money for free. And once that happens, you will beable to either  trade your Pi coins for other cryptocurrency or for Fiat. So actual currency, like USD, EUR, YEN,or whatever currency you are using. And we don't know yet if the  coin willthen be worth 0.00 something cents, or if it will be worth $5 or even more,it really comes down to what kind of practical use case there is for PI coinin the real world and what kind of demand there will be for PI coin in the future. So it comes down a lot tothe developers of PI coin and what they do with their coin. But since you don'thave to spend any money. And literally all you have to do is clickon the link in the description down below. Download the app and then either useyour Facebook account or your phone number to create an account and use theinvitation code that you can also find in the description down below and, and justonce a day, push a button on your  phone which you  are anyway holding in yourhand, probably a couple of hours per day.

 And in return for that effort, youwill already receive Pi coins which again either will someday be worthnothing or they will be worth something. 
So there's not much to lose.
 It's really one of those casesin my opinion where there's zero chance that you make a loss butthere is a small to medium chance that you actually make a profit. 
Now again I don't know if that coinwill be worth almost nothing or a lot. We will see.
 It will really depend onwhat the developers do. 
But you can get thecoins right now for free. 
And best of all if you for example have an iPad or a second phone you can install the app on multiplephones create multiple accounts and therefore mine even faster. 
Now on top of that once you havethe Pi app on your phone, you'll also have your own invitation code andyou can invite other people as well. And when they sign up and mine yourmining rate will increase as well. 


And in addition to that there'salso a contributor bonus which I haven't unlocked yet but whichwill unlock for me tomorrow. 
All it requires to reach that contributorbonus is to mine three consecutive days.
 So basically mine for 72 hours and then you'll be able to add some of the people that you invited orif you used my invitation code to add me to a secure circle whichagain will increase the mining rate with which you earn PI per hour. 
Personally, 
I'm really interested tosee where PI is going in the future especially because it literallyis zero effort to mine the coin. 


Simply enable the phone notification which will tell you every time the 24 hour mining circle is overand then push the button once more to mine for another 24 hours. 

And then simply repeat that samestep every day until Pi finally reaches a hundred million usersand the mining period will be over. 

And in the end, all you have to do then. 

Is to take a look at how many Pi coinsyou actually mined, 

what kind of value they have  and if you want to holdonto them or sell them for another cryptocurrency or an actual hard currency like USD, EUR or something like that. 
That's pretty much it. 

If you have any more questions aboutPI you can also ask them within the chat that's within the application. Once you've signed up or justin the comments down below. 

As always, thanks for watching. See you in one of myother videos until then. Bye bye.