THE FREEDOM FROM EXTORTIONATE GOVERNMENT TAXES AND OBSCENE USER FEES FROM HIGH TECH COMPANIES IS COMING NEAR YOU THROUGH PI NETWORK APP.
What is all about NODES.
The much awaited phase of Nodes is getting closer and closer we need to understand its concept and purpose.
Nodes is the last stage before we move to Mainnet or full operations. Pioneers will be asked to help formulate Pi Network Blockchain.
Blockchain is an e-ledger or an electronic ledger which unlike non e-ledger stores permanently the information it collects or fed. So Nodes is a process of forming an electronic ledger and needs some volunteers to do it.
Blockchain cannot be formed through your smart phone. Nope, you need either a pc or desktop to do it.
The current mining we are performing is not real mining because the Pi Network has no blockchain to mine from and so was Bitcoin in its earlier stage.
Cryptocurrency mining is for all practical purposes solving hash problems created by Cryptocurrency transactions. Cryptocurrency mining is a process of validation of Cryptocurrency transactions. Every time you succeed you are rewarded by Cryptocurrency which are automatically generated every ten minutes.
The more the miners the less are the rewards to be shared. This is why established Cryptocurrency mining is harder to generate profits because advances in technology have made it easier for owners of smart phones to become miners of the Cryptocurrency.
Equally, as Pioneers increase in numbers we should expect mining to become extremely difficult because the rewards are few compared to the number of miners.
HOW WILL PI NETWORK FINANCIALLY SUSTAIN ITSELF?
Cryptocurrency mining is really a game of numbers of participants, the frequency of usage of self sustained user services and cooperation with companies in need of adverts of their services.
Most cryptocurrency agencies have all of above but are increasingly dependent on the externalities such as access and availability of funds generated from doing services to other companies. All this is because mining competition is getting stiffer and stiffer with less profits to share. In other words, most cryptocurrency agencies have reached a saturation point and room for manoeuvring is getting smaller and smaller.
The huge difference between Pi Network and its predecessors is to depend less and less on externalities by generating a self sustaining market for its own products from its own pioneers who are essentially shareholders.
An ingenious strike of the Pi Network originators was to study the strengthes, weaknesses, opportunities and threats of its potential competitors and devise ways to stay afloat in the market. The idea of a digital bank offering all services a traditional banks offer but for a token user cost withiut government taxes or high tech obscene user fees is simply a masterpiece.
Pioneers will be the initiators of this digital banking system by using to sell and buy services among themselves, and later may lend or borrow from this digital bank. This digital bank will quickly replace mobile phone money transfer such as MPESA, AIRTEL MONEY & TIGO PESA etc etc because of convenience, low cost and dissolution of national boundaries and the power of government and technology companies to charge obscene taxes and user fees.
No sooner the Pi Network digital bank is in full swing we should expect the client base of her rivals in mining cryptocurrency to shrink because it will make less sense to mine from the rivals where the gain fail to justify the investment.
WHAT SHOULD BE OUR STRATEGY.
This is a long term project so for those looking for a quick buck this is not their place. Real returns will begin five to ten years from now so it will be foolhardy to sell your Picoins in less than five years after Mainnet has begun to operate. The reason is you will be selling at a loss.
Look at those who sold Bitcoin for a song five years after Bitcoin came into full operation now they are regretting their decision. Had they waited for ten years more they would have reaped 50 to 60 times the market value of Bitcoin they had offloaded.
So the more having and holding your Picoins is and probably will be the best strategy you have ever taken in your entire life.
It is not late now to join this Pi Network digital bank through their APP Follow the instructions below to join this exciting journey into freedom from oppression of government taxes and user fees from high tech companies:-
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 23 million members worldwide. To claim your Pi, follow this link
Pi Network and use my username (asakila) as your invitation code.