Pi Skyrockets to $330...or does it?

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Pi is digital currency that operates on a "proof of click" concept. To mine Pi you simply use the Pi app on your phone and press a button every 24 hours. As time goes on, the mining rate goes down.

The Pi network is still under development and has not gone live yet so Pi is not yet tradeable. However, in the last day or so, Pi has shown up on a couple of exchanges and the price has skyrocketed to well over $300 and as I write this is sitting at $283. So how can this be if Pi isn't even tradeable?

It turns out that these are IOUs. I can only assume that it is the exchanges themselves that are selling these IOUs. The exchanges that have Pi listed include Huobi and XT.COM among a few others. Whether or not they actually possess the Pi they are selling I suppose is an open question. They may simply be banking on the belief that Pi, when it is actually tradeable, will have a much lower value and they will just be able to buy whatever they need to make up the IOUs. Either way, this seems pretty scammy to me and potentially illegal. It certainly makes me question the reliability and safety of these exchanges.

While these IOUs may be dubious investments, how the Pi network does when it finally goes live remains to be seen. Currently, you can still mine Pi at no risk with the click of a button. I'm still mining though admittedly I don't necessarily click the button every day. If you want to give it a try (who knows, maybe it really will be worth this much) you can join my circle to earn faster by using the link below:

Pi is a new digital currency developed by Stanford PhDs, with over 35 million members worldwide. To claim your Pi, follow this link

https://minepi.com/DarthAzrael and use my username (DarthAzrael) as your invitation code.