Following the delusions, expectations, belief, and mockery, hope for Pi network miners has begun to rise, as a restaurant in Kano state has begun accepting the digital currency to sell food.
It takes less than a minute to transfer digital currency and enjoy the aroma of various foods at the restaurant called Nafagode, which is located in the Dandago area of Kano Municipal, in the city of Kano.
According to The Motley Fool, Pi Network is a hybrid of a digital currency, an app, and a multi-level marketing (MLM) scheme.
The plea of Pi is that it can be mined using a mobile phone. Other cryptocurrencies that use mining, most notably Bitcoin (CRYPTO:BTC), necessitate significantly more processing power, so most miners employ specialized hardware.
A banner, carrying a broad Pi symbol hanging on the wall of the restaurant.Pi, which has 33 million users, is mined in the Pi Network app, and the mining process requires only a tap of a button on the user’s phone every 24 hours. There is no mining going on, so it isn’t technically crypto mining. In reality, a subscriber receives PI coin vouchers for using the app once per day and demonstrating that they are not a robot.
According to Bizpoint, each Pi is worth N130 million at the official rate, N180 million at the parallel market (High Consensus Price), and N223,000 at the black market (Low Consensus Price).
In Nigeria, a battle line has been drawn on social media between those who believe in Pi digital currency and those who do not.
It is also believed that social media platforms have been flooded with videos of some young people expressing dreams of becoming “crazily” wealthy if the Pi they are mining is harvested.
This newspaper has also noticed that the videos are met with mockery, particularly by Facebook users who believe that the Pi network miners are merely fantasizing about money that will never materialize.
Any Pi miner, on the other hand, would be overjoyed to hear that a restaurant in Kano, Northern Nigeria’s commercial nerve center, is now accepting the digital currency.
When BizPoint visited the restaurant, it became clear that the establishment does business with the Pi network.
The building was wrapped in banners with huge Pi symbols, indicating that the restaurant accepts the currency.
Alhaji Umar Muhammad Nafagode, the restaurant’s owner, told a BizPoint reporter that he had launched his business with the Pi network on August 25, 2022.
He stated that he accepts Pi currency to sell a variety of foods such as rice, pounded yam, spaghetti, yam, shawarma, and pepper soup, among others.
According to him, any Pi network miner who comes to the restaurant to buy food can do so while paying with Pi digital currency.
“We began accepting the Pi network on August 25, 2022, when we were officially directed to begin doing business with Pi.” I believe I am the first person in Kano, if not Nigeria, to accept the Pi network in my business.
According to him, some businessmen started the business with him but were unable to continue due to an inadequate plan to make it sustainable.
Because the digital currency has not been used in the country, Nafagode explained that if he collects Pi to sell his food, he would use naira to buy food items at market to cook another food, and he would also save the Pi he realized from customers in his wallet to continue mining it.
“Those who started with me had to stop due to a faulty plan.” I use naira to buy ingredients for the food I sell. After purchasing items with naira and selling them with Pi, my colleagues did not have enough naira to purchase more items, but they will continue to save their Pi, which is why they felt they couldn’t continue.
“However, aside from this restaurant, I run other businesses that allow me to use naira to buy food at the market and continue to sustain my business with the Pi network.” “I’ve been running my business on Pi for over a month now, and I’m thankful for that,” he said.
That is why, he says, he decided to limit the number of customers who could buy food using Pi, adding, “that is why I do not reveal the price to sell food in order to limit the number of customers.”
He also stated that he is not selling the food at a specific price of Pi because the market always determines the exchange rate.
Concerning the difficulties he is encountering, Nafagode stated that the main difficulty is that people do not believe in the Pi network, which, according to him, is not acceptable in Kano and Nigeria as a whole.
When asked if the Pi network is paid in naira, Nafagode responded that it is paid through a mobile application via a transfer system, adding that “we have a system, connected with the internet, to receive the payment and deliver the food to our esteemed customers.” Let me tell you that transferring money via the Pi network is faster and easier than transferring money via the bank.”
When asked if he has made any money since the launch of Pi transactions, Nafagode stated that it is too early to start counting profits because it is a “long-term project.”
He went on, “the Pi management tells us that anyone looking for quick money should not invest in Pi.” We’ve been working on this project for about three years, but despite their unwavering faith in it, many of us have given up.
“As a result, I believe it is premature to begin discussing profit.” “The money will come when it’s due,” he said.
He lamented that many people regard Pi miners as insane people who have invested their future in an unreal business, citing Singapore as an example where a shopping mole is reportedly running a business solely on the Pi network.
“Pi is similar to the recently introduced e-Naira. The e-money market would be led by Pi. “It’s not a matter of mockery,” he explained.
Customers who came to buy food with Pi spoke with a BizPoint correspondent.
Abdulkarim Usman Idris said he was at the restaurant to celebrate his Pi network fortune, and that he is a firm believer in the digital currency’s prospects.
Customers awaiting to make transactions.According to Idris, he had been mining the Pi but had no idea where to spend it until he had “an opportunity” to enjoy it.
“I’m mining it with no idea where to spend it until I heard a story about a place in Dandago where Pi is accepted to buy food like rice and chicken.”
“Let me take this opportunity to urge people to accept the reality and acceptability of the Pi network,” he said.
Sunusi Auwal Sunusi, another customer who opened the app to transfer the Pi for rice, salad, and chicken, said he was there to enjoy his long-term savings.
“I’ve been mining Pi for about a year and a half. I didn’t fully believe it until it became real to me. That is why I am now placing more emphasis on it.
“I encourage people to begin mining Pi, and those who have already begun should continue because I see a bright future in Pi,” Sunusi said.
BizPoint initially publishes this story. Read More…
