PI update the mobile wallet a scam?, the future? neither .... probably neither

I have had Pi on my phone for quite some time now, when I first signed up I was mining PI every day, since then I have not been as regular doing it very sporadically.

I think that's because it had gone quiet for so long, the more I read about it the more I was convinced it was too good to be true.

I don't really know what to believe, but still 'mine' a little bit here and there I have got 1,000 pi

So today I click on and see I can get a Pi wallet

A test wallet, so they are now testing transactions, on the Pi wallet

I'm not going to try and talk about what the coin will do in the future or technology or lack of, because honestly I ain't got no clue.

What have seen is slow baby steps of progress, this likely being the biggest one.

The test wallet, looks like a standard wallet, you get your seed phrase etc.

But honestly I just cant imagine this being worth anything, surely it is going to be pennies for stuff.

So whats next?

Cryptocurrency holders have two options for turning their holdings into “real” money (or to “cash out”): 1) Directly purchasing goods and services with their crypto or 2) exchanging their crypto for fiat currency (e.g., dollars, euro, etc.) on cryptocurrency exchanges.
1) Directly purchasing goods and services with your Pi. Pi Network is building a peer-to-peer marketplace where our members will be able to directly spend Pi to buy goods and services. We aim to start experimenting with in-app transfers of Pi as soon as Q4 2019.
2) Exchanging Pi for fiat currency on cryptocurrency exchanges. Pi’s Core Team does not control when cryptocurrency exchanges (like Binance, Coinbase, Kraken etc.) decide to list Pi. However, Pi will be able to be traded in Phase 3 of the project (i.e., Mainnet). At that point, exchanges can choose to list Pi. In the meanwhile, Pi’s core team is focused on implementing our technical roadmap (see our white paper) to reach phase 3.

But logic would dictate they will have a lot of people on the network, and a lot of people that will want it to work, a lot of people that will be viewing adverts on the pi marketplace. This large number of people could make the difference, once people start realising they can get something for nothing they will be on it.

I don't think this is going to make anyone rich least of all me, but the site and app looks tight, clean speaks a good game.

But the project looks sound, and my instinct is good intentions but that doesn't mean it will work

Thing is to remember is there are so many projects like this, why is this one any special.

Its a big call getting involved with these as you need to submit your personal information and passport, that does not sound like a sound idea to do with anything

So certainly advise not to do with all of these, but the projects you trust.

We are still very early on, so few people know about crypto currency, to many bitcoin is still a scam, based on my limited market research

So I really don't want big projects like this to fail and for people to lose trust.

Guess only one thing will tell .... time