Context of the questionPi’s original economic model and mining mechanism are to strike a balance between access and scarcity. While aiming to be the most inclusive and widespread digital currency in the world, Pi tries to achieve a level of scarcity through a mining mechanism where the base mining rate halves when the network size increases by 10X, and the base mining rate based on new minting will fall to zero when the network size reaches a certain point. So which point of the network size is the question here. Even though in our White Paper, we specified the network size to be at least 100 million people, the Core Team had left the decision open, as to whether we will continue or stop mobile mining at the mark of 10 million network size, because back then we lacked data in network growth speed and engagement, and in the technical and ecosystem progresses. Today we’ve crossed the mark of 10 million engaged Pioneers and need to make a decision on whether the base mining rate halves or falls to zero. Some Pioneers may have misunderstood the purpose of this question and thought this was a question about whether to stop the project and asked us not to give up. Don’t worry. We’re not giving up, and we’re working tirelessly every moment towards our goals for Pi.
Context of the questionPi’s original economic model and mining mechanism are to strike a balance between access and scarcity. While aiming to be the most inclusive and widespread digital currency in the world, Pi tries to achieve a level of scarcity through a mining mechanism where the base mining rate halves when the network size increases by 10X, and the base mining rate based on new minting will fall to zero when the network size reaches a certain point. So which point of the network size is the question here. Even though in our White Paper, we specified the network size to be at least 100 million people, the Core Team had left the decision open, as to whether we will continue or stop mobile mining at the mark of 10 million network size, because back then we lacked data in network growth speed and engagement, and in the technical and ecosystem progresses. Today we’ve crossed the mark of 10 million engaged Pioneers and need to make a decision on whether the base mining rate halves or falls to zero. Some Pioneers may have misunderstood the purpose of this question and thought this was a question about whether to stop the project and asked us not to give up. Don’t worry. We’re not giving up, and we’re working tirelessly every moment towards our goals for Pi.<br>
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