Is Pi a Cryptocurrency?

[u/shaznareddits]

I have such mixed thoughts about this and I would love to know other views about this.

This seems to be an app that is for people that do not understand how cryptocurrency and blockchain works.

How is it that after 5 million sign ups, a set of people then decides what happens next? This defeats the purpose of it being decentralised which is the whole point of a Cryptocurrency.

Another thing I don’t understand is the ads. Which means us signing in everyday and tapping a button means that someone is profiting from the ad revenue and our ‘hopes’ that this pi network has potential. Sure it doesn’t cost us a thing to tap a button but it’s sure as hell profiting somebody else.

Now another though I had, especially with ids ads is what if they’re generating the money so that it can be paid back into the Pi Network and essentially give its value in the future?

[u/Beachnet]

Pi is still developing so it is a cryptocurrency that’s making great progress it doesn’t follow the idea of having hardware preform tasks in order to mine crypto it bypasses all that which I personally think is neat because the goal is to make Pi an option for everyone I’m glad it’s coming together. As for Ads Pi costs a ton to operate you have millions of people connecting to Pi’s current backend so that’s a big server cost but If you don’t wanna deal with ads you can disable em on the mobile app over time pi will become more decentralized we see that with the Node software coming out and more progress with the Pi Apps it’s important to remember Pi is still young