MinePi Digital Currency, Should You Join?

MinePi Digital Currency, Should You Join?

Back in 2008 and then in subsequent years when blockchain and cryptocurrencies emerged I thought that it was all a fad, I was simple wrong and did not join the boat then and I am not in the boat now thinking that it may be a bubble, am I wrong again? The whole concept of buying and selling cryptocurrency was not clear to me, let alone the process of mining where I would need an upfront investment of capital in GPUs and running electricity cost to magically create bitcoins.

Fast forward a couple of weeks ago, a friend of mine referred me to MinePi, a blockchain application/platform geared by social network. This time I joined thinking that it seems a bit different than the existing digital currencies with no market value at the moment, and so far I have not spent any money and have been mining without expensive hardware or high electricity bill.

So, I would like to list the pros and cons of MinePi from the mining and user perspective:

Pros:

  • You can actually mine from your phone. If you want to join you can use this link: https://minepi.com/aprimera and username (aprimera) as the invitation code.
  • It does not seem to affect my battery.
  • I am not wasting my time. The app only request you to tap every 24 hours to ensure that you are a human.
  • As your network grows the mining rates increases. The whole network has over 7 million members.
  • I have not paid a penny/cent for it.
  • It seems to be backed up by pretty smart people that are upfront about the strategy.

Cons:

  • There is an ad turning up every time I open the app to start mining.
  • There is no market value at the moment, would it ever have?

I would like to hear comments about this, would you join or think that it is yet another short life trend?

Blockchain have been around since 2008, when Satoshi Nakamoto (probably and pseudonym) published the original paper, since then cryptocurrency value has grown becoming an investment vehicle for many, the jury is still out there about the future. I tried not to think how much I could have should I have invested something back in 2016.

If you would like to join, follow this link https://minepi.com/aprimera and my username (aprimera) as your invitation code.


Wassem M. Alward

Domain Solutions Lead (Subsurface + Artificial Intelligence) @ SLB

4 年

there is no free lunch in this world, that's for sure ..

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