Even if you’re not involved in the world of cryptocurrency, you’ve probably heard about Pi cryptocurrency by now. Over the past year or so, digital currency has become increasingly popular, with its price gaining steadily over time and numerous large companies adopting it as their primary payment source. But how much do you know about Pi cryptocurrency? If you were to ask five people this question, the chances are that you’d get four different answers and one common misconception or two.
Let’s run down some surprising facts you probably didn’t know about the Pi cryptocurrency.
What To Expect In This Article
- 1 Facts About Pi Cryptocurrency
- 1.1 Fact 1: The Developer Is Anonymous
- 1.2 Fact 2: It Was Released On April 1st
- 1.3 Fact 3: There Are NO Wallets Available For Windows Computers Yet
- 1.4 Fact 4: It Can Be Mined With Mac Or Linux-Based Computers, But You Won’t Get Very Much Back
- 1.5 Fact 5: Its Name Comes From the Greek Letter Π (Pi), Because It Is The Biggest Π Thing To Hit Crypto Since Bitcoin
- 2 Important Questions About Pi Cryptocurrency
Facts About Pi Cryptocurrency
Fact 1: The Developer Is Anonymous
There’s a reason Pi cryptocurrency is often considered an anonymous currency, but that doesn’t mean it’s completely untraceable. Blockchain forensics firms—like Chainalysis and Elliptic—are experts at tracing digital currencies back to their sources and linking transactions to individuals. These companies can assist when cryptocurrency users have been robbed or defrauded by others on a given platform.
Still, they also make it harder for people to use digital currencies for illegal purchases without repercussions. In any case, owners of Pi will still be able to benefit from all of its features even though their identities are relatively unknown. They won’t be able to cash out their holdings in exchange for real-world money.
Fact 2: It Was Released On April 1st
It may have been April Fool’s Day when Pi was first released, but it certainly isn’t a joke. Pi is a fully-functional cryptocurrency that’s still around today. It has its market cap, although only eight transactions were recorded on April 1st. There are 15,381 total coins currently in circulation. The coin reached its peak value of $26 on January 2nd, 2018; as of February 14th, 2018, it was worth approximately USD 4.20 and represents 0.001% of bitcoin’s market cap ($69 billion).
It has never been hacked or stolen from – not once! Even though it’s been in existence for less than three years, Pi is one of the very few cryptocurrencies to be completely secure. It would be best if you still keep your wallet safe by using encryption software and creating backups regularly.
Fact 3: There Are NO Wallets Available For Windows Computers Yet
Yep, that’s right. Pi does not have wallets available for Windows computers. When writing this article, only wallets are available for Linux and OSX. That means it’s not easy to store your Pi coins in an accessible way if you don’t have a spare computer sitting around with either of those two operating systems installed.
While they plan to offer software wallets on other platforms in the future, they are keeping reasonably quiet about when these new wallets will arrive. So unless you are comfortable setting up a Raspberry Pi (or you already have one) and running some Linux or Unix operating system on it, storing your Pi coins might be more trouble than it is worth now!
Pi’s value is high because they have an active community and team, which means people use their coins. Unlike some other altcoins created with no apparent reason or hope behind them, you can use Pi to buy products from over 200 merchants on the currency’s growing merchant list.
Of course, you can also invest in Pi as a sort of long-term financial investment – but if you want to get started with a cryptocurrency for actual real-world use, then it could be a great option. For example, Pi is accepted at various international travel sites for bookings and holiday packages; it can be used to pay for college fees and tickets to university lectures; it can even be used as a payment system for utility bills!
Fact 4: It Can Be Mined With Mac Or Linux-Based Computers, But You Won’t Get Very Much Back
Because Pi cryptocurrency is CPU-based, it’s nearly impossible to mine it with graphics cards—which are typically used for mining other cryptocurrencies. So, if you have a spare computer, Pi could be a cost-effective way to add some coins to your crypto wallet. Just be sure you have enough space on your hard drive (be it an HDD or SSD) and patience for not getting much back.
Fact 5: Its Name Comes From the Greek Letter Π (Pi), Because It Is The Biggest Π Thing To Hit Crypto Since Bitcoin
Pi is a derivative of Bitcoin, but its code was written from scratch. Unlike some other projects that are essentially Bitcoin clones, Pi doesn’t share much of Bitcoin’s source code with its π-based cryptocurrency. This means that bugs aren’t as likely to creep into development, and it also means that Pi can try new things without inheriting all of Bitcoin’s issues.
For example, one of Pi’s most exciting features that make it stand out in an increasingly crowded field is its focus on privacy and protection from censorship. In short, Pi seems like a promising project with serious potential for innovation.
Important Questions About Pi Cryptocurrency
Can Pi Network Reach $100?
First, a disclaimer. As with most cryptocurrency and digital tokens, it’s hard to determine whether Pi Network will become worth $100 or $10,000. Some investors believe that any cryptocurrency or digital token will have significant value with enough time and growth. Others argue that one Bitcoin is worth over $10,000 because it trades for over $10,000 and has done so consistently since its founding in 2009.
Still, others say that since there are only 21 million Bitcoins (and not 21 billion), they’re likely to increase in value as demand increases. So what does all of that mean? It means you should never invest more than you can afford to lose, but if you decide to buy Pi Network tokens, keep an eye on them. If they start trading at higher prices or even reach $100, you might be onto something big.
Will Pi Crypto Ever Be Worth Anything?
You should be asking if Pi will ever be worth a million dollars? That’s right. Pi would need to increase its value by 250,000 times to make your investment worthwhile at its current valuation. As of now, it has no reason to increase in value at all; in fact, it may decrease.
Unless some company forks Pi and starts using it for something truly remarkable (or unless someone figures out how to use Pi as a direct competitor with Bitcoin), nobody is going to use Pi as anything more than a penny stock that occasionally floats up into double digits in price but usually drops back down into single digits or below $1 per coin again shortly after.
What Is Pi Crypto Worth Prediction?
There is no easy way to determine what a Pi coin will be worth in a few months or years. Experts have said that Pi has had better chances of reaching a higher value since its launch. Don’t expect any profits but don’t just give up on investing. Just wait for a few years and see if you can earn anything back with your investment. It might not even happen, but it would also not hurt to invest if you have some free cash you want to burn anyway. One day, five years from now, maybe you get to write another post saying I told you so!
How Do You Convert Pi To Money?
First of all, don’t. While it might be possible to exchange Pi tokens for money on some crypto exchanges, it requires converting those tokens into Bitcoin or Ethereum—two currencies that are not known for their stability. Converting one cryptocurrency into another involves a third cryptocurrency called Tether, designed to hold its value and remain stable across multiple cryptocurrencies.
But even if you could convert Pi tokens directly into money without any conversions or risk of volatility, that doesn’t mean you should. It’s impossible to predict what will happen with Pi token prices in the coming months and years; there’s no way to tell whether your investment would have gone up or down in value by simply selling at a particular time.
If you want to sell Pi tokens, wait until they become more widely accepted as a currency and then sell them when they reach peak value. If you do decide to buy Pi tokens, consider using them as payment instead of trying to turn them into cash immediately. The developers behind Pi intended for people to use these tokens as currency, so it makes sense that they’d make it easier than most other cryptocurrencies out there. After all, most people buy bitcoins because they want something other than bitcoin itself (like an item from Amazon). That’s why many businesses accept bitcoin payments—it means more people can buy their products or services!
Can Pi Network Make You Rich?
Yes, Pi Network can make you rich – but there are a few things to consider before making your move. For one thing, it’s only a matter of time before other companies come out with their crypto tokens that can also be used on Pi Network. If you miss out now, there could be other opportunities later on for you to get involved with crypto tokens and make money. The same is true of any investment or opportunity – never pass up an opportunity just because another one might appear in its place later. There’s always something else out there.
Conclusion: The Future of Pi Network
The future of Pi Network is very bright, so jump in and start earning now! Although it’s a relatively new cryptocurrency with only a short lifespan under its belt, there are plenty of reasons to be excited about what lies ahead: scalability, development team, community involvement, and company growth. If you look at all of these aspects combined, you can see that Pi Network has serious potential for growth over time. If you’re looking for an investment opportunity that could make you money while also being environmentally friendly, then Pi Network might be your best bet!
About The Author
Williams Alfred Onen
Williams Alfred Onen is a degree-holding computer science software engineer with a passion for technology and extensive knowledge in the tech field. With a history of providing innovative solutions to complex tech problems, Williams stays ahead of the curve by continuously seeking new knowledge and skills. He shares his insights on technology through his blog and is dedicated to helping others bring their tech visions to life.