pi digital currency is a scam. It does not produce anything. There is no way for anyone to get anything in exchange for pi digital currency. The only reason people think it’s good is because of the name, which suggests that it might be worth something. But the name isn’t what makes pi digital currency a scam. The money is wrong, the idea is wrong, the business model is wrong and the whole thing looks like a scam.
So let’s look at this in more detail:
The Name:
pi digital currency is a play on the idea of a digital currency that uses the digits of pi as its value. This idea is not new, but it hasn’t been used before as a method of money-making. So people were naturally interested in trying it out. And they liked it enough to want to buy into it by paying with pi digital currency in exchange for an investment packet that promised that investors would get high returns on their investment within six months or less. What they got instead was empty promises of high returns from empty investments; investors still haven’t gotten their money back and have been unable to withdraw their investments either because the company has gone bankrupt or because no staff members are left with enough access to their own accounts to process withdrawals.
The
I haven’t checked this, so I’ll make a very simple prediction. If pi digital currency was real, it would not be based on a decimal system. Zero is two times two is four and so on.
The decimal system is the simplest way of representing numbers, but it’s not the only one. You can represent negative numbers by using decimals that go below zero. There are even ways of representing fractions with decimals that go above zero; you can use repeating digits to represent fractions greater than 1/2, say.**
If pi digital currency was real, it would not have been invented by a mathematician working at IBM Research. IBM Research is where IBM does technical research into new ways of doing things, but it also does work for financial institutions like banks and brokerage houses. There are no mathematicians there who would be interested in something like pi digital currency: no one there is paid to do anything other than thinking about mathematical problems and finding solutions to them.
It is possible to spend all your money by buying and spending the digital currency pi. The pi digital currency has a limited supply and a very high value.
This means that you can not buy more as long as there is enough pi digital currency in the market.
The digital currency pi is calculated using the digits of pi. To buy pi digital currency you must know the digits of pi. More information about this on https://bitcoinist.com/pi-digital-currency
This idea, called pi coin, is based on the perpetuity of pi, the mathematical constant that never changes. This is a paper currency and it’s backed by gold or bitcoin. The value of pi is based on a mathematical formula that pips a small digital unit to one gram of gold.
It would make an interesting addition to bitcoin and other cryptocurrencies. But it appears to be a scam so far.
Pi is the ratio between the circumference of a circle and its diameter. It is the most important number in mathematics, but it hasn’t been digitized yet. Pi digital currency will probably be a pyramid scheme, or at least a Ponzi scheme. But what if it isn’t? What are the chances that it could be?
Pi is not as important a number as you might think. The most common unit of measurement for pi is 3.1415926535897932384626433832795028841971693993751058209749445923078164062862089986280348253421170679… Pi has been calculated on computers since the 1960s, and no one doubts that the digits are correct; they would all have been discovered when pi first appeared in 1417. If you want to understand pi, there is no need to know what its digits are.
How do you define a digital currency? A digital currency is a form of money that is entirely electronic. You can’t get physical dollars, for example, and you can’t store dollars in cash. That’s why we usually call them “electronic” currencies.
So how could pi be a digital currency when it has no value? I think this is a misunderstanding of the concept: by definition, something that has no value can’t be a currency. It doesn’t matter what else is in pi0, just as long as there is at least one digit.
So let’s look at what makes something valuable: it must have some kind of utility. And if pi has no utility, then it isn’t valuable.
Bitcoin is a digital currency. But it isn’t a currency in the usual sense of the word. It’s not backed by anything except people’s faith that more people will want to use it in the future. It might protect your value better than if you had used gold or silver, but it won’t protect it for as long. And though this doesn’t matter to most people, it does matter to governments and central banks. They don’t like the idea of a digital currency that isn’t directly controlled by them.
This means that one doesn’t have to worry about bitcoin getting outlawed, because governments will find something else to outlaw instead: gold, or cash, or something else they can control; so there will always be some other place you can hold your bitcoin.