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What Is Pi Cryptocurrency?
I think Pi is one of the most interesting projects in the crypto world. It is a digital currency you can mine on your mobile phone without fancy gear or a big electricity bill.
Most cryptocurrencies, like Bitcoin, need powerful computers to solve tricky puzzles – that is called mining.
But Pi? It is different. I can open an app, tap a button once a day, and earn Pi coins. It sounds almost too easy, right?
The folks behind Pi call it the Pi Network. They launched it back in 2019, and their goal was to make crypto simple and open to everyone.
Bitcoin and Ethereum are great, but they have become hard to mine for regular people – you need expensive kit and tech know-how.
I love how Pi says, “No, anyone with a phone can join in.” It is built to be inclusive, and that is what hooked me when I first heard about it.
How Does Pi Work?
I have to admit, Pi’s system is clever. It uses something called the Stellar Consensus Protocol – not the usual mining that guzzles power. Instead, it relies on a network of people trusting each other.
When I mine Pi, I am not solving maths problems. I am part of a circle of users who vouch for one another.
The more people I invite and connect with, the faster I earn coins. It is like a community effort, and I find that pretty unique.
You start by downloading the Pi Network app – it is free on Android or iPhone. I did it years ago, and all I do is open it daily and hit the mining button. It runs in the background without draining my battery.
The app gives me a mining rate, say 0.1 Pi per hour, and it adds up over time. If I get mates to join, my rate goes up. I have earned a fair stash just by tapping once a day!
The Big Vision Behind Pi
I reckon the Pi team has a bold dream. They want to create a cryptocurrency that millions can use, not just tech wizards or rich investors. Their whitepaper – you can read it on Pi Network’s site – says they aim to give financial power back to people. Bitcoin started that idea, but it is now more for big players. Pi wants to be the people’s coin.
They launched on 14 March 2019 – Pi Day, of course, because pi the number (3.14) is a maths legend! I like that little nod. The founders are a group from Stanford University, including Dr Nicolas Kokkalis and Dr Chengdiao Fan.
They have proper credentials, which made me trust the project more. Their plan was to grow a huge community first, then build a blockchain where Pi could be spent or traded.
The Three Phases of Pi
I have followed Pi’s journey, and it has three phases. Phase 1 was the early days – just mining and building the app. I joined back then, and it was all about getting people on board.
Phase 2 kicked off in 2021 with testing their blockchain – they called it the testnet. I saw them tweak things, like adding KYC (Know Your Customer) checks to verify users. That was to stop fake accounts, which I think is smart.
Phase 3 is the big one – the mainnet. It finally went live on 20 February 2025, just last month! I was chuffed to see it happen after years of waiting.
This means Pi is now a real blockchain, and coins can move from the app to wallets or exchanges. It is not fully open yet – some rules still apply – but it is a massive step. I have got some Pi migrated already, and it feels real now!
Where Pi Stands Today – March 2025
I am writing this on 23 March 2025, and Pi is in the spotlight. The mainnet launch last month was huge – after six years, it is finally here! I have seen mixed news, though. Some exchanges like OKX and Bitget listed Pi, and its price shot up to almost £3 at one point.
But it has been rocky – today, it is hovering around £1.15, down from that high. I check prices on CoinGecko, and it shows Pi has a market cap over £10 billion. That is wild for a coin that was free to mine!
But it is not all smooth sailing. I have read on CoinGape that Pi dropped 17% in a day this week – ouch! People are worried about token unlocks.
Billions of Pi coins are still locked, and when they release more, it could flood the market and push prices down. Plus, big exchanges like Binance have not listed it yet, even though 86% of their users voted yes in a poll. I wonder why they are holding back – maybe they want more proof Pi is solid?
The Good Stuff Happening
I have to say, some things are exciting! On Pi Day 2025 – 14 March – they launched .pi domains. I can bid on custom web addresses like “myname.pi” using Pi coins.
It is a cool way to use the currency, and I think it could make Pi more than just a trading coin. They also tied it to PiFest 2025, a big community event. I read about it on Coinpedia, and it sounds like they are building a real ecosystem.
Another win – Teltlk International announced a Visa card for Pi and USDT payments. I saw that on Yahoo Finance. If I can spend Pi at shops or online, that is a game-changer! It makes me hopeful Pi could be useful, not just speculative.
The Tricky Bits
I have to be honest – Pi has its challenges. Some call it a scam because it took so long to launch, and the price swings are mad. I saw on CryptoPotato that it crashed below £0.65 right after launch, then soared to £3, and now it is slipping again. That volatility makes me nervous – can it settle down?
The KYC process has been a headache too. I had to verify my ID to migrate my coins, and some mates missed deadlines – their Pi got locked or lost.
Plus, with 93 billion tokens still to unlock over years, I worry about dilution. If too many coins hit the market, my stash might lose value. It is a risk I think about a lot.
Could Pi Be Your Crypto Future?
I have been mulling over whether Pi is worth it for you. If you are new, should you jump in? If you have mined it, should you hold or sell? I will break it down – no fluff, just my thoughts.
Why I Like Pi
I love that Pi is free to start – no cost, just time. I have thousands of coins from years of tapping, and if it hits £3 again, that is serious cash! The community is massive – over 50 million users, they say – and that gives it strength.
The mainnet launch and new features like domains show they are serious about growing. I think Pi could shine if it gets more exchanges and real-world use.
Why I Worry
I cannot ignore the downsides. The price is all over the place – up 158% one week, down 30% the next. I saw that on Crypto News. The unlocks scare me – 1.6 billion Pi coins are due in the next year alone.
If big players like Binance snub it, growth could stall. And some still doubt it – is it a slow Ponzi? I do not think so, but the question lingers.
How You Can Get Involved
If you fancy trying Pi, it is easy. Download the app from minepi.com – use an invite code like “pinetwork” to start. Mine daily, invite friends if you want, and wait for mainnet access. If you have Pi already, decide if you want to hold for a rally or cash out now. I am holding mine, hoping for £3 again!
What Might Happen Next?
I have been reading up, and analysts have wild guesses. Some on Coinpedia say Pi could hit £10 if it gets Binance and broad adoption. Others warn it might drop to £0.60 if unlocks tank it – that is from FX Empire. I think it depends on trust – if people believe in Pi and use it, the sky is the limit. If not, it could fade.
Right now, Pi is at a crossroads. The mainnet is live, but it is not fully open – some coins are still locked, and trading is limited. I reckon 2025 is make-or-break. If they nail the Visa card and domains, and if prices stabilise, Pi could be huge. I am rooting for it, but I am keeping my eyes open.
A Quick Pi Recap Table
| What | Details |
|---|---|
| Started | 14 March 2019 |
| Mainnet | 20 February 2025 |
| Price Today | About £1.15 |
| Big Features | Mobile mining, .pi domains |
My Take on Pi
I have mined Pi for years, and I am still excited about it. It is a long shot – not every crypto makes it big – but the idea of free, easy mining for all is brilliant.
I have seen it grow from nothing to a £10 billion player in six years. Sure, the dips and delays test my patience, but the potential keeps me hooked. I think Pi could be a sleeper hit if they play it right.
What about you? Have you tried Pi? Are you in for the ride or watching from the sidelines? Drop a comment below – I would love to hear your take! Crypto is a rollercoaster, and Pi is no exception, but I believe it has a shot at something special.
Where to Learn More
- Pi Network - Official site to join or read up
- CoinGecko - Check Pi’s price live
- CoinGape - Latest Pi news
