Is the new cryptocurrency PI Network another scam or legit?

[arcticglobal]

I have always been very skeptical and distant from all the hype around digital currency in general due to my basic investment principle that when everyone on the street starts talking about an investment product, it is generally too late to invest in it. It is in this state of mind that I listen to a family friend who tried for months to encourage me to join his cryptocurrency investment group. He got my attention when he mentioned that this one is a new innovation which is at the free distribution phase with no financial commitment required.
As soon as I reached home, I started making some background research on the Pi Network and found that not only it is a very legitimate and innovative digital currency initiative, but more importantly, it is still at the right stage to jump in with an excellent risk reward ratio. Of course, there is no guaranty that it will be a successful project, but what you tent to lose is a few minutes a day of hitting a button on your mobile and the mobilization of your network of friend and family at no financial cost to you or them for a possible reward of amassing lot of Pi digital currencies that could be very valuable in the future if the project is successful. Below is the summary of the findings of my research on the PI Network and my recommendation.
1. It is a project credited to three Stanford University PHDs namely: Dr Nicolas Kokkalls (head of technology), Dr Chengdiao Fan (Head of product) and Vincent McPhillip (head of community)
2. The company only offers a service, but no product. After downloading the Pi Network app, you need to confirm that you are a human by pressing a lightning symbol on the app at 24 hours intervals. This will initiate the mining process at a predetermined rate on your mobile device (currently 0.20pi/hr) without draining your phone battery. You are free to exit the app after that action without discontinuing the mining process.
3.  It is an FREE App. Free to download (with no ads) either from google play or apple store.You may search pi, pinetwork,or minepi
4. Members can join only on invitation from other members. You can accelerate your mining rate by inviting other members to join using your code. You are welcome to use mine to join if you decide to or if this review add any value to you (cakzxd).
5. After three successful mining cycles of 24 hours each, you qualify to become a contributor and you can form a security circle of 3 to 5 trusted members. This will accelerate your mining rate as well.
6. The mining rate has been halve for any multiple of 10 members that the network achieved. The project started in March 2019 at a rate of 3.1 Pi/hr and in November 2019 the network reached 1 million members and the current rate is 0.20 pi/hr.
7. The next milestone is at 10million members and it is not yet clear if the mining process will be discontinued at that stage or if it will continue to reduce in speed.
8. On Pi network white paper, a summary description of the technology they use is as follows: For Pi, we introduced the additional design requirement of employing a consensus algorithm (the process that records transactions into a distributed ledger) that would also be extremely user friendly and ideally enable mining on personal computers and mobile phones. The consensus algorithm that they use is the Stellar Consensus Protocol (SCP) that was architected by David Mazieres a Professor of Computing Science at Stanford University as stated in Pi Network white paper as well.
My recommendation:
Pi has no value currently, just as Bitcoin in 2008, but could have value in the future. Pi Network is using an innovative digital currency technology that will decentralize mining of digital currency to the ordinary people and is user friendly through mobile phones. In my view the risk reward ratio justify my recommendation of jumping in while it is still open. But like for everything in life, feel free to do your own research. This is only my personal opinion and if you decide to go by it I will appreciate you using my code to join. It will bless me in return by accelerating my mining rate. You can reach me at arcticglobal@gmail.com if you would like to discuss more about this project.


The apple store link is https://apps.apple.com/ca/app/pi-network/id1445472541
The Google Play store link is https://play.google.com/store/apps/details?id=com.blockchainvault
or download from the minepi directly https://minepi.com/cakzxd

www.pinetworkapp.org
ww.pinetworkapp.org/free

[arcticglobal]

FACTS WE SHOULD KNOW ABOUT Pi's SMARTPHONE MINER/APPS

1. I Tried it and using it for almost month and I notice that it cannot cause my phone to high temperature.

2. It doesn't cause lag also to my phone.

3. The Apps is super light, so after you run it, you can minimize it and use your phone as you use it your daily task.

4. Once you run it, it doesn't consume of your cellphone ram or data.

5. And the best part is, the apps doesn't need the network data or wifi to mine Pi, once you tap the mine button, you can shut it off the data or wifi especially at bed time.

[joblo]

It's a pyramid scheme and has nothing to do with crypto mining.

[socks435]

I'm agree with joblo it is just another useless app. How can you say that it won't lag? I already tried the app because I'm just curious how the app actually work but after I tried it and play games it's too lag when playing online games.
And the bad thing is I heard someone that before you can get coins/token from the Pi network you will need to verify first if you are real person so you will need to KYC before you can get what you mine. This is just what I heard to someone.

So for me this is another phyramid scheme trying to do "networking" because of referring reward.

[arcticglobal]

If you said lag on your cell phone. I should say it is the problem with your own cell phone. Because this PI app does use little network data.  It only need WIFI or data to connect tot the server while start another mining cycle, and it only takes less than 5 seconds. I did a test to disconnect all the data connection, it still runs well without any problem.

I am also disagree the comment of the  pyramid scheme. It is a FREE system. free account register, free app downloading and free mining , no any cost or financial commit requirement. Can you list any pyramid scheme system which provides all those FREE services?

Yes , it is no value currently, just as Bitcoin in 2008, but it could have value in the future, so give it a try,No cost, No risk, No hazard. What have you got to lose?

[arcticglobal]

Great chance to earn digital money on your phone，Free, No cost，No Risk

[arcticglobal]

Sony Marketing Vet Christine Birch Launches The ROYGBIV Collective   http://theroygbiv.com/
Her Latest Project is PI Network

EXCLUSIVE: Former Columbia Pictures marketing chief and industry vet Christine Birch is opening the doors to The ROYGBIV Collective, a new consulting firm which will provide media, tech, and lifestyle companies with powerful strategic narratives across their positioning, creative branding, messaging and overall vision.

As the former marketing boss not only at Sony, but DreamWorks Studios and FilmDistrict, Birch has been behind several blockbuster film campaigns that have yielded billions of dollars at the global box office working on such titles as Jumanji: Welcome to the Jungle, Spider-Man: Homecoming, Peter Rabbit, Transformers to name a few as well as Oscar-winning pics like The Help, The Theory of Everything and The Danish Girl. With the ROYGBIV Collective, Birch is bringing her entertainment marketing skills to a new generation of entrepreneurs, starting with the booming cryptocurrency firm Pi Network which since its March 14 launch, now counts over 2 million engaged users, all of whom are members by invitation.

“With all the emphasis on analytics and micro-targeting, it’s tempting to forget that it’s the ‘mythic narrative’ that connects all the dots, and creates emotional resonance. Since the beginning of man, such narratives have helped establish a sense of common purpose, which is how successful movements are built,” says Birch.

“While most movie marketing campaigns are data driven, I feel there’s a greater need to access more of the emotional underpinnings in these campaigns. When I decided to embrace the Pi Network, I saw an opportunity to demonstrate the validity of my approach and provide a storytelling narrative to a project that was outside the entertainment industry. Storytelling does not have to be specific to any platform,” Birch tells Deadline.

With Pi Network, Birch partnered with Silicon Valley startup Social Chain Inc., working alongside founders Dr. Nicolas Kokalis, Dr. Chengdiao Fan, and Vincent McPhillip to formulate the vision for a new social cryptocurrency. Birch was turned onto the idea of cryptocurrency after one of her guests, a Stanford graduate, began talking about the tech coin at a family barbecue.

“We started talking about what was wrong with the financial system the way it is, and the idea that money is in fact a created asset. As a society, we initially traded goods and services and ultimately decided that money was the standard. This became a very interesting conversation about what you can do when value is generated in a different way,” Birch says. Birch wrote the introduction to the Pi Network’s white paper with a group of Standford PhDs.

Separately, Birch has joined the board of directors of Stocks & Securities LTD (SSL), a premiere venture capital company which is teaming with local entrepreneurs on her native island of Jamaica. As part of these efforts, Birch is developing plans for a new luxury spa on the island, which will feature the rich history and therapeutic properties of Jamaica’s indigenous herbal healing, including a cannabis-focused regimen.

Birch immigrated to the US from Jamaica at the age of 3. A Dartmouth College alum, she cut her teeth in the New York publishing scene at Scholastic and Random House before embarking on a long career in motion picture theatrical marketing. The ROYGBIV Collective goes live today on Twitter, Facebook and Instagram.

https[Suspicious link removed]cutive-the-roygbiv-collective-pi-network-1202836761/

We help people & companies tell their story.
Our approach has generated billions of dollars in global revenue by creating powerful consumer narratives that motivate & inspire.
http://theroygbiv.com/

[arcticglobal]

http://theroygbiv.com/

[arcticglobal]

Cryptocurrency mining is a complex computing process that usually requires special equipment to be used. Powerful video cards are used for mining Ethereum while Bitcoin is mined with the help of ASICs which are even more expensive. The developers of Pi Network decided to make their cryptocurrency more accessible. Any owner of a smartphone can mine PI crypto.

[arcticglobal]

Disclaimer: Pi is NOT free money.
Pi is NOT free money. It is a long-term project whose success depends on the collective contributions of its members.

Pi is dedicated to helping everyday people capture more economic value that today goes to banks, technology giants (e.g., Facebook, Amazon), and other intermediaries. Pi depends on the collective contributions of its members. If you are looking for quick money, look elsewhere.

What is Pi?
Pi is a new cryptocurrency for and by everyday people that you can “mine” (or earn) from your phone.

Cryptocurrencies are new form of digital money that are maintained and secured by a community, instead of by governments or banks. Today, you can mine (or earn) Pi by helping to secure the currency and by growing Pi’s trusted network. While most cryptocurrencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.

[arcticglobal]

What is Pi?
Pi is a new cryptocurrency for and by everyday people that you can “mine” (or earn) from your phone.

Cryptocurrencies are new form of digital money that are maintained and secured by a community, instead of by governments or banks. Today, you can mine (or earn) Pi by helping to secure the currency and by growing Pi’s trusted network. While most cryptocurrencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.

[arcticglobal]

Is this real? Is Pi a scam?
Pi is not a scam. It is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency.
Pi’s core team is led by two Stanford PhDs and one Stanford MBA, all of whom helped build Stanford’s blockchain community. We cannot guarantee that the project will succeed. However, we do promise to work our hardest to make our shared dreams a reality, while maintaining the highest standards of integrity. You can learn more about us in “Core Team” page in the main menu of the app.

[joblo]

It looks like you are the lucky one, all the other Pi spammers have been shut down.

Who are these PhD's? What are their names? What papers have they published?

Have you caught any fish yet?

[arcticglobal]

It looks like you are the lucky one, all the other Pi spammers have been shut down.
Thank you.

Who are these PhD's? What are their names? What papers have they published?
Dr. Nicolas Kokkalis
Head of Technology
Stanford PhD and instructor of Stanford’s first decentralized applications class; combining distributed systems and human computer interaction to bring cryptocurrency to everyday people. Read more ...

Dr. Chengdiao Fan
Head of Product
Stanford PhD in Computational Anthropology harnessing social computing to unlock human potential on a global scale. Read more ...

Vincent McPhillip
Head of Community
Yal

Have you caught any fish yet?
PI in a long term project. If you want the quick money. It is not your type.

What is the value of Pi?
Today Pi is worth approximately 0 dollars / euro etc. similar to Bitcoin in 2008. Pi’s value will be backed by the time, attention, goods, and services offered by other members of the network.
By pooling our attention, goods, and services around a common currency, Pi’s members seek to capture more of the value that typically goes to banks, technology giants (e.g., Facebook, Amazon), and other intermediaries.Today, we are laying the infrastructure for this digital currency and marketplace by distributing the currency, building the community, and developing the technology to ensure its security.

When will Pi be worth something? When can I turn Pi into “real” money?
Pi’s holders will be able to turn Pi into “real” money when they either purchase goods and services on Pi’s marketplace or exchange Pi for fiat currency.

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.

[joblo]

"Dr. Kokkalis has expertise in designing viral social applications,"

Pyramid shemes and click baiting are "viral social applications" that lure people with the
promise of profit by recruiting more members or getting "likes". It's not a sustainable model,
it gets top heavy and collapses.

The suckers always lose. If you haven't found any, you're one of them.

[arcticglobal]

Digital money is subject to changes you may not like.

[joblo]

I don't know if you're just another scammer or a naive investor but Pi is a scam
and your promotion of it makes you look like a scammer.

Pyramid shemes are an old con. There are even large companies that use the
technique, remember Amway?

https://en.wikipedia.org/wiki/Amway

But the're bad news. They eventually collapse and most people are left holding the
bag while a few get rich.

If you're just a scammer you can go to hell as far as I care. But if you're a naive investor
who truly believes, you should learn more about pyramid shemes before you invest in them.

[RapidsNetwork]

So I've been using it for some time. At first it was ok.before all the halvings.
Now after the halvings you dont earn much at all.
Also the app has glitches to where it notifies you that u need to mine every 10 hours or so. When it's only suppose to send u the notification once the mining ends every 24 hours. So this gets annoying to see that come up a few times a day when u already are mining.
And then they go and say that there might not be anymore mining after this next halving.  So pretty much that's gonna end the project because if ur not mining anymore then what's the app or project or blockchain doing??

So I'm curious to see where its gonna go from here.

[arcticglobal]

Next is the node

[arcticglobal]

I don't know if you're just another scammer or a naive investor but Pi is a scam
and your promotion of it makes you look like a scammer.

Pyramid shemes are an old con. There are even large companies that use the
technique, remember Amway?

https://en.wikipedia.org/wiki/Amway

But the're bad news. They eventually collapse and most people are left holding the
bag while a few get rich.

If you're just a scammer you can go to hell as far as I care. But if you're a naive investor
who truly believes, you should learn more about pyramid shemes before you invest in them.

Hi Friend, Do you understand what is the Pyramid schema , Before posting Could you please read https://en.wikipedia.org/wiki/Pyramid_scheme?

PI network is diffidently not a pyramid schema,
First, the invitation relation is only one level, Just like the most America online bank, the inviter gets some rewards, but only one level.
Second, the PI inviter and invitee had to work/help each other to increase their earning rate.  They have to keep active (mining online) at the same time to help each other get extra earning rate.
Most important. It is FREE, free account, free APP， free mining, free KYC, no any finance commitment required.
ZERO invest, no any risk.  and nothing to lose. Can you list any pyramid schema with ZERO investment?
PI is almost as the same as the bitcoin in 2009, but you even do not need to invest any expensive mining machine, and no high power cost. You just need to install the PI app on your phone, and hit the green button every day. That is it.