Good day!
I have been mining "Pi" for a few weeks now and have had a bit of time to read the whitepaper and understand how it all works.
I must say that the project seems serious and legitimate. I am still skeptical weather it will take off or not, but I see no problem in trying. It only take a moment a day to keep mining, and thus far I have mined nearly 300 of these coins. The rumor mill on the pi subreddit has it valued at $10 / pi (which is due to the fact that nobody mining it can exchange it yet).
It is still very early in the project and there is opportunity to get some good mining in. Even if it debut's on the market at $0.001, by that time, I should have a free dollar.
If you want to give try your hand at mining pi, you will need my invite code: idizzle777
idizzle777 is my invite code.
Feel free to read the whitepaper as well: https://minepi.com/white-paper
The TLDR version of the whitepaper is this... Bitcoin is nearing an unreachable status to the common man and an unsustainable energy consumption for the network. Pi is mainly trying to solve that problem. The mining is done using stellar protocols and can be done from mobile phones. It also has security set up so only one person can mine through one account.
If you feel like checking it out... go to the app store or google play on your phone and download "the pi network"/