Where can I sell my crypto currency project
Pi - About the new cryptocurrency project
Pi, what is that anyway?
A never-ending story - irrational, transcendent and fantastic
Initially, pi is used in geometry and mathematics and stands for the relationship between the diameter of a circle and its circumference. Because this is always the same ratio, no matter how big the circle is. Pi has an infinite number of decimal places, here the first 500:
3,1415926535 8979323846 2643383279 5028841971 6939937510 5820974944 5923078164 0628620899 8628034825 3421170679 8214808651 3282306647 0938446095 5058223172 5359408128 4811174502 8410270193 8521105559 6446229489 5493038196 4428810975 6659334461 2847564823 3786783165 2712019091 4564856692 3460348610 4543266482 1339360726 0249141273 7245870066 0631558817 4881520920 9628292540 9171536436 7892590360 0113305305 4882046652 1384146951 9415116094 3305727036 5759591953 0921861173 8193261179 3105118548 0744623799 6274956735 1885752724 8912279381 8301194912 …
Pi shows up as something logical, scientific, interesting and infinite - and that is probably what the makers of Pi wanted to put into the project.
The most important question for many interested people:
How can free money be created and why do I get it? Here is the simple answer:
The makers of Pi are currently creating the technical prerequisites for creating and managing a new currency. This technology is called blockchain.
While the blockchain is being developed, interested people can already take part in the project. As a reward for your patience, you already get the new currency from the total pot of this currency (supply), which you can then spend as a tester to your heart's content. A community emerges parallel to the development of technology. This is important, because only if there are people who are interested in this new currency and want to use it can it become real and develop a true value. So it depends on the people who use Pi whether the project succeeds. The technical implementation is only a matter of time. You can also wait until Pi is ready for the market to experiment with Pi you have bought yourself, or you take your chance now and accept the free Pi and we are excited to see the emergence of this great new currency that should be available to everyone in the world.
And what is this Pi project, network crypto something?
The ideas behind cryptocurrencies are:
* Encryption of transactions
* Anonymization of the transactions
* Secure transaction management
* Decentralized multi-server processing
* Private currency
I could write a rather incomplete text about the technology behind cryptocurrencies and the underlying blockchain technology, but I would probably be contacted by hundreds of people who understand the matter differently or know better. So I'll be brief and explain the whole thing sketchily and symbolically:
With a cryptocurrency, transactions are created in the form of a chain that builds on one another. The individual transactions are encrypted and chained to one another in such a way that a break-in with a change in the data is not possible without breaking the chain and thus making it invalid. This can be compared with a checksum such as that used by virus protection programs or systems for checking the IBAN. Each transaction receives its check digit, which is somehow calculated from the content of the transaction and the subsequent transaction contains a guide to the previous transaction with the respective check digit. If the content of the transaction is changed by a criminal, the transaction check value is recalculated and the link no longer fits into the chain, the chain breaks and is no longer recognized by all other computers in the system. With a decentralized administration it is different from a central bank computer that this blockchain is distributed over hundreds and thousands of computers, which have to agree on the correctness of the blockchain at all times. So it is not enough to attack and manipulate a central bank computer, one would have to manipulate hundreds and thousands of computers at the same time. That is what makes it so incredibly safe.
Further information on the basic ideas behind Pi can be found in the whitepaper and the FAQ.
The makers of Pi
How is money created (fiat money)?
When it comes to established national currencies, we speak of fiat currencies. "Fiat" comes from the Latin and means "it will". As in the Bible: "Let there be light - Fiat Lux". This is how states create a currency like nothing else. The central banks print on paper (cotton) and say: Here is money. The banks themselves can also create money, almost nobody knows, but if you encumber a house, the bank is allowed to give you money as a loan, which doesn't exist at all. One speaks of money creation. So there is a lot of money that has never been earned and is only secured as long as the house is worth it and the loan is serviced. It is different with Pi. We pioneers are, so to speak, the citizens and the state, we give ourselves a currency (Pi) and also manage it ourselves, decentrally, i.e. not on a vulnerable central computer, but via the numerous mutually controlling node participants ( Blockchain). The money is electronic and has the value that we give it by, for example, developing and giving goods for it, buying or selling it against other currencies. That was now a bit detailed and yet only a rough overview.
How does the value of a currency change?
The value of money is roughly similar to the development of a share / security. As part of the initial public offer (IPO), a share is "thrown" onto the market and can then be traded on the stock exchanges. It is similar with a cryptocurrency. As part of the initial publication (Initial Coin offer - ICO), the currency is put on the market and can be bought and traded.
At Pi, the approach is different. Even before the product is ready for the market (blockchain and marketplace), the currency is distributed to the community as part of cloud mining. The pioneers who participate in the Pi project before the market launch are, so to speak, the beta testers of the product and receive the currency for test purposes and can use it at the official market launch in phase 3 to buy and trade with it. The earlier a pioneer joined the project and the smaller the community was up to then, the higher its allocation rate. See graphic.
The regularly planned halfings reduce the amount of available Pi (supply) relative to the number of users. This leads to deflation, i.e. appreciation of the individual Pi. In contrast, we know inflation when money is constantly being reprinted and the currency (e.g. euro) loses value relative to other currencies or in absolute terms. An absolute decrease in value is noticeable in the form of a reduction in purchasing power, so I can get fewer goods for my money.
Halfing overview Pi
KYC - Know your Costumer (identification procedure)
KYC is an abbreviation from English-speaking countries. It means Know Your Costumer and describes an identification procedure. Since it is about money and possibly also a lot of money, it is important that a person is clearly assigned to a Pi account and only to one account. The registration of several accounts on one person is not permitted and can and will lead to the loss of the account and all Pi. The same applies if the KYC is not carried out. It leads to the loss of the account and all Pi. All Pi users must have gone through the KYC by the end of the 2nd phase at the latest. The users are selected and prompted for the KYC by the system. Currently, the selection is random, taking various criteria into account, but before phase 3 everyone will be invited to the KYC. To carry out the KYC, Pi-Network uses a recognized European KYC provider, YOTI. In preparation for the KYC, it is advisable to download the YOTI app, register there and provide identification documents. This can be a driver's license, an identity card or a passport.
The loss of the Pi is not limited to your own account and your own Pi. If a member of a mining team does not carry out the KYC, the Pi are also lost due to the recruitment of the user and the associated higher mining rate. The specially mined Pi remain unaffected, as do the Pi acquired by users who have passed through the KYC.
Phase overview roadmap Pi
Pi is currently in phase 2, the testnet. This means that trading with pi is not yet possible and no value for pi is fixed. All information on the internet about a possible pi value is pure speculation and misinformation. Only at the market launch in phase 3 will the value of Pi develop through supply and demand, among other things. Supply and demand are formed by the coin exchanges that include Pi in their trade and the dealers who offer goods and services for Pi and thus buy Pi. The trader thus initially offers his goods and services in advance and benefits from a positive performance from Pi, but, like any other investor, can suffer losses up to a total loss in the event of a negative performance.
After downloading the Pi APP, you log in to Pi with your name, the user name you have chosen and a password you have chosen. You also have to indicate who invited you to Pi. Make sure that you do not forget all of the information and that you have written everything correctly, including upper and lower case! A subsequent change is not initially possible. It will only be possible to change your data once during the transition to phase 3. After successfully registering, you will start your mining for the first time. From now on you also have the opportunity to convince your friends and acquaintances of Pi and invite them with your invitation code. The invitation code is your username. You can find this again in your profile. When passing it on, make sure that you pass it on correctly. Pay attention to upper and lower case letters and tell your friend that he will also pay attention to this when he signs up. Only then does it land safely in your mining team. From the 3rd complete mining day you can edit your SecurityCircle and thus increase your personal mining rate. The mining rate also increases if you have invited people to your mining team, but only as long as they are actively mining. Forget about their daily reactivation, you won't get an increased mining rate either. Sometimes a friendly reminder helps. There is also the option "Ping inactive". But you can also address your friend directly. If he no longer participates permanently, you will not have his bonus either. If he does not participate in the KYC and the market launch, all Pi previously acquired by him are gone. Perhaps your friend has become unsure or has questions. Help him answer them and get him excited about the project again or give him a little time.
After the third complete mining session (3x24 hours) you can edit your SecurityCircle (SC) and name the people from your mining team who you know personally and whom you trust. From 5 named persons, the SC bonus is at its maximum. However, you can also name more people as safe. But be careful: If you report people as safe who do not pass the KYC or who attract negative attention, this can also have a negative effect on your reputation. If you don't have 5 people in your mining team who are eligible for the SC, you can also name people from other mining teams. You may know people who came to Pi through a different invitation code. Via "add an existing Pi User" or "add from Phonebook" you can add people who are in your contacts and participate in Pi. To do this, however, the Pi app needs access to your phone book. You can remove this access later. The friends you want to add must be entered in your Phonebook with an international identifier, e.g. + 491712197XXX. If you do not find a friend who you know will be there, delete the contact and create a new one using the WhatsApp. If you still cannot find it, restart your smartphone if necessary. Still not? Perhaps your friend has given his number incorrectly or not at all at Pi (additions or changes not possible) or he has not yet confirmed it in the profile. But it can also be that he has verified himself via Facebook, in which case the verification of the mobile number is no longer possible and you have to select another trustworthy friend.
Node - App
In addition to the APP through which the mining takes place, there is also the option of downloading the node software for PC and MAC and applying as a node operator. This requires some space on the hard drive, an operating system version that allows virtualization (Docker) and a good to very good internet connection. The computer should also be on and on the network as often as possible in order to be able to perform its tasks. Regular maintenance of the PC / MAC with updates etc. goes without saying. You can find more information about nodes on the Pi homepage at https://node.minepi.com
A Linux variant of the node software has not yet been released. There is no remuneration in pi or other monetization for operating the node in test mode. The remuneration in the form of a transaction remuneration in the mainnet is planned / considered.
System requirements for Node
Social Marketing and Speedball Systems, What's the Difference?
Unfortunately, Pi is sometimes assumed to be a pyramid scheme. After all, it can only exist if more and more people join in.
The same could also be attributed to VW, a choral society or the German pension system and might even be even more right than with the assumption against Pi.
In our growth-oriented society and from the point of view of capitalism, it is of course important that demand increases compared to supply (economy), or that those paying into the system outweigh the recipients from the system (pension). Only then can share prices, prices and pensions rise and the respective currencies remain stable and strong.
A community like the Pi network can only grow if it is known and used by many people. To recruit these people, Pi uses social marketing. This means that every user uses his social contacts to talk about the project and recruits more members to join. However, this is voluntary and participation in the project can also take place without the application of other people. It is different with a pyramid scheme. Because here you always need new participants who are not only there but also make a contribution, which in turn can be used to fulfill the promise made to previous participants.
Since, in addition to an application that is not necessary, there is also no possibility of paying anything into the Pi network, there is no question of this. On the contrary, as the number increases, more and more Pi is issued, which has to be proven later in trading and form a value.
2 pizzas please ...
Development of Pi:
So far, one can only speculate what value Pi will have at the market launch in phase 3. The fact is that Pi has a very good starting position because it already has a lot of users compared to other crypto currencies. In addition, Pi relies on the use by every everyday person around the world (everday people) in which it is available to everyone in the last corner of the world thanks to the possibility of cloud mining.
Even with the first and most famous cryptocurrency, many people were very skeptical, did not understand the technology and idea or heard many chilling rumors. Nevertheless, within 12 years, Bitcoin in the cent range has developed into a currency that is now worth around 10,000 euros. In percentage terms, this increase is just insane. For many it was probably unexpected, even if they participated at the time. Often times they have sold their Bitcoin when they doubled up or at some other tempting rate. In the early years, just 2 pizzas were sold for around 10,000 Bitcoin. When you consider that this equates to a total of 100 million euros, we can only hope that the pizza was incredibly tasty or that it served millions of people. Whether Bitcoin would have performed so well if it hadn't been traded is another question. Every currency lives from being used. Everyone is currently more likely to withhold at least part of their currency and exchange it for millions at some point.
But will that also happen?
Performance of Pi
Currently, Pi is valued at € / $ 0. Since the project is still in development and cannot yet be traded, no value can yet be determined. Only in phase 3 of the project will Pi be tradable and, among other things, supply and demand will determine the price. At this point in time, it should also be possible to offer and purchase goods and services for Pi. Any assumption about a value of pi can therefore currently only be speculation and is like looking into a crystal ball.
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