Bitcoin Forum

Hello forum I would ask for your opinion in one thing.

My friend invited me to use https://minepi.com a couple of days ago.
And I checked it out a bit, but really did not understand the thing.

He told me he this:
"Pi is now valued at around 24$/Pi, and will be trade able on Binance soon ! So even if you only mine 1 a day on your mobile that's over 700$/month for no work. Get mining, and get your family on it !"

"A crypto you mine using your phone. I have been doing it for 4 years, and now have quite an amount. It costs nothing. Just use the link to download the app and click once a day to keep mining. It started as an alternative currency for transactions in an alt network, but they are going full crypto now. There are millions of users..."

When I asked how he cashed out the earnings he said "you can cash out once the main net is up. It was planned for 2024 but the coin is doing well so it will be sooner."

For me it looks way to good to be true but I don´t know anything about it. What I for sure know is that my friend don´t trying to fool me in anyway, but maybe he have get fooled and doing this?
For me it sounds to good to be true when you mining with your phone fore free you just need to open the app and click on something once a day and you will be rewarded around $700 each month?!

It really looks legit and everything but it sounds very good to make that amount for such a less effort. Many people in the world does not even make this money for a months work!

"If it sounds too good to be true, it probably is."

And in this case, it definitely is. The supposed token isn't even listed on CoinGeko. Don't waste your time with the "easy money" schemes.

Had a family member that was roped in to it.

To earn those tokens, you have to complete some KYC first. So it's like another airdrop.

He is just hoping for some kind of referral profit through you.


The Pi sect has been repeating this for years. It is true that fraudsters using the name Pi came into trading before them.


It is not possible to mine any currency by phone.


Again, will be tradeable soon, and so for 4 years. He's right here, it doesn't cost anything, but it's not worth anything either.


They don't even have their own mainnet, how is it even possible to mine a coin that doesn't exist?


This is probably the closest to the truth. By collecting a large database of KYC data, Pi fraud organizers will have the opportunity to make money by selling it.

There is an user who was expose this scam coin three years ago PI Network! A huge trap[Warning!] (https://bitcointalk.org/index.php?topic=5237735.0), there's no way the project can offer to mine their coin with low specs GPU cell phone, it just like a random number generator.

You can't verify human, he can be an innocent, he got paid for promoting that or he's a part of the team. A friend who's never lie to you is doesn't mean all of his words is legit, if he get scammed, you will get scammed too.

Hello thanks for the link to the other thread, I did not sign up on the website or downloaded the app, for me it sounded to good to be true.




Yes he send me his referral link, but I don´t have any problems with that, but as I mention I did not sign up on the website, for me it was to good to be true.




Yes you have right.

It's fake and a scam, unfortunately, they have millions of users' data, because you need to submit your personal information before you qualify to withdraw your mined token to a wallet that they are going to create and they asked for KYC three years ago and they are still asking.

Yes they are listed on Coingecko and they are on some exchanges but they have warnings to investors
https://www.coingecko.com/en/coins/pi-network



The exchange listing is unauthorized by the developers of MinePI
https://minepi.com/blog/unauthorized-exchange-listings/

After 5 years its community still believes that this is the next big thing in the Cryptocurrency industry
but how can it be when its centralized and the developers have dubious characters even though they claimed to be Harvard graduates

Yes, I remember about the mining application using a cellphone, a similar question was asked by @ggbtctalk000 on February 21 2021, but @JayDDee has suggested the minepi.com application, it's not good to use.

As stated by @JayDDee.

You should not use the minepi.com mining application, it is most likely a scam.

It is not possible to mine a cryptocurrency using a mobile phone. Unless they have POS consensus. A POW consensus require a good amount of graphic cards and does consume a lot of electricity. POS is all about staking a fixed amount of native cryptocurrency in their recommended wallets. Some projects suggest POS a way of mining. According to my understanding it is incorrect and a way to scam newbies.

Pi network ka already a controversial project. If you are following any projects related to this project then you will get scammed. That is why you should always do your own research. I have zero understanding about Minepi. I do know pi project is full of scam and it is better you stay away from it.

Worse than a typical old-school airdrop — this actually is pretty much guaranteed to be worth nothing simply because the token itself is totally useless. And as expected, it's the people in 3rd world countries that are being baited into this sham.

If the level of research you've conducted about minepi is not convincing enough then i will advise you don't waste your money on it, forget about what they have said to offer you on your investment or what had been advertised on their behalf, when you check for their enlistment on reputable platforms or exchanges and you couldn't find them in, try to stay aware, maybe they are just on the testnet level or approach and of it wasn't as expected the project and your investment gone, try to do your own research and be satisfied before investing.

What is it with the minepi. I am curious to know about it. Can some one please enlighten me on it. From the posts I have read here, none portrays the minepi in good fate. Is there something odd and weird about it that would warrant such review from you guys.  I am still learning. I would still want to hear more from you guys.

Here is the official site of MinePi
https://minepi.com/

Those early posters have their reason why MinePi is fake and not real and I agree with them, I used to mine this coin on my phone, but I stopped because there are a lot of flags, one of which is their being centralized and their mining algorithm is fake I disable their app because they are monetizing their users by posting ads on their mining page which is for me unethical they are making money out of their users' action.
I don't know if they are still showing ads but I'm not looking back to mine because all they have are fake promises for their users.

To be frank, the posts you've said you have read which I'm assuming everything on this thread should be more than enough to deem it "odd and weird". In fact, the words that describe this case better would be scam or shady lol.

If perhaps you're confused or have doubts about certain post/s on this thread, it would help if you try to quote them.

I don't think that the Pi has any value till this day because they have no mainnet, and the price is just reflection of the IOUs. The coin doesn't make sense to me because many people have been mining the thing on their smartphones since 2018-19, even on of my cousins who isn't well aware about crypto-currencies is mining the shit-coin since 2019.

The trap of the Pi network is so huge that most of the users who have submitted their KYC information aren't yet verified. They are just manipulating people with various IOU listings and that's attracting attention of more users into their network. I remember when the fake IOU was listed on some exchanges the price of that went above $280 a coin. And, everyone who had Pi in their wallet thought that they are going to be rich very soon. But the tug coin just made it fake to keep their customers using their app for mining and no one was able to deposit the coins to the exchanges. 

I was wondering as well when I heard about this coin called Pi although I am skeptical about it but what has it got to offer when it has not yet been launched, it is yet to be listed on exchanges, they keep using adds to generate funds for themselves through users phone, they have been on for quite some years now and still promising stories to their user base upto the point that some of their users have started complaining to withdraw if they do not launch before June comes to an end. We are still waiting and watching closely to see how things unfold itself there.

They promise to many times before so don't expect that they will follow what they promise again since PI is not a good project to seriously participate with. If you have a PI maybe the east thing you can do with this is to wait if there's miracle will happen to that project. Since for longest time the dev is only one benefiting on their project and they just feed up their users or hunters with false hope that they can earn big with them.

These are the words that are considered "deadly" in the crypto world.
Some attractive words that attracts a newbie investor to join the bandwagon. Just imagine you will be having 700$ per month just by doing nothing. Who in the hell gives that amount of money to other people? Take note that it's free?

Mainnet, mainnet, mainnet blah blah blah!!!
The project has been there for years already, and yet they can't release the mainnet. The good thing though for those hoping to cash out immediately is that, the mainnet has launched already, or at least that's what I read on some articles online. Nevertheless, I will not touch this project, nor involve myself into it. I don't think it's real though that you can get that much amount of money for free.

I don't know, but it's listed on Coingecko as of this moment though I don't know if it's a fake one or the real one, and it's currently listed on Coinmarketcap as well.
https://www.coingecko.com/en/coins/pi-network
https://coinmarketcap.com/currencies/pinetwork/

The famous quote is very famous that I almost hear this in every week, but the reality is they don't care. They are focusing more on the profits that they can make than the anything else.

Is Project Pi still a project that attracts others despite such an ongoing scam? I heard about it several years ago and they have not and will not be listed on binance because in short they are scammers.
All projects that make promises for nothing but that you will make a quick profit or seize the investment opportunity or that come to you from an unknown person on the Internet are all fraud. Tell your friend not to be part of this scam and stop inviting more friends because he will lose his reputation because he helped promote such a scam, and if your friend is on the Internet, block him.




Coingecko is not a platform for trading and therefore listing currencies does not give the currency value but rather a site for tracking prices. Many scam coins are hosted on Coingecko with a big warning that they are scams.

So after seeing that they are already listed on coin market cap as posted here, I had to start conducting my due diligence in the project and the trading aspect of it. I noticed that most of the exchanges that listed it are quite known exchange and there is difference in price variation across the exchanges with a wide price margin of $17775 on one of the controversial exchange called atlanticex compared to other exchange which it was Listed. Another thing I noticed was that even with the claims that it is already listed on exchanges, one can not trade it as the deposit and withdrawal function are suspended but trade is going on so I was wondering who are those people trading it and accumulating trading volume on daily basis and why would they suspend deposit and withdrawal from the their members.
All these put together made me have some doubt and I am skeptical about the whole stuff about it.

It's a fake Pi the developers of MinePi clearly stated that they have nothing to do with the IOU PI that is listed on an exchange and both Coingecko and Coinmarketcpo stated that this is an IOU coin and so they issued a big warning on that of the token


No, it's not legit people should not believe right away what their friends are saying you have to differentiate a shill to a fact or you will end up losing money, always do your own research and always get the fact.

For the fear of not to miss out, I mined over 2000 pi coins, it took me I think about 3 years or more to mine this amount, at first, I truly believed in the project, but I think from the middle of last year, I completely lost interest in the project and stopped mining, though the app and all of its data have remained installed on my phone just incase it turned out to be great, maybe a similar thing like when bitcoin was first introduced, but to be honest with ya all, the chances pi will ever go mainstream is very slim, regardless of the fact they have a really huge community, I feel they've lost alot of users interest due to the much time they wasted, and still have not even launched.