PI Network! A huge trap[Warning!]

[-CryptoViking-]

Oh man; this is quite an observation; but they lack South Asian or Mid Eastern people and they hv quite good population too.

Well nobody is perfect, they can't get it all right 

I mean I know this sounds a bit crazy haha, but you get the point. From what I've seen and understood this is not a crypto project and the way things are setup it looks like data gathering.

My observation was here just to ad some exzotic flavour to it

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[allahabadi]

Oh man; this is quite an observation; but they lack South Asian or Mid Eastern people and they hv quite good population too.

Well nobody is perfect, they can't get it all right 

I mean I know this sounds a bit crazy haha, but you get the point. From what I've seen and understood this is not a crypto project and the way things are setup it looks like data gathering.

My observation was here just to ad some exzotic flavour to it

Yes I do get your point and this does leave a lot of unanswered questions; I don't get the KYC thing at all and also how it mines by simply downloading; moreover they hvnt had any cogent interaction on BTCT which wud hv given an insight into their actions and motivations. Let's hope ppl dont get scammed.

[Lizzie_Girl]

Oh wow. I just say the news of the KYC.

Please, someone, explain to me how a logical person can look at something that asks for the personal info of 100k people and think thats a good idea? I mean are people completely retarded? I can't believe how many stupid gullible people exist. There was an autosurf scam of 20 million $$ it offered 144% in 12 days. Who falls for that? I mean my god do they think the profits fall out of the heavens?

Honestly, if people want to give a faceless organisation their person info then goodluck to them. Anyone of use posting here can make our own app and also demand KYC. There is nothing legal about it. KYC is for banking and voting and things like that. Not some silly app that gives you coins for logging in.

Using the guise of "preventing multiple accounts" to harvest personal info.

I mean what is next? Video games asking us for KYC so we cant make multiple accounts?

[-CryptoViking-]

Oh wow. I just say the news of the KYC.

Please, someone, explain to me how a logical person can look at something that asks for the personal info of 100k people and think thats a good idea? I mean are people completely retarded? I can't believe how many stupid gullible people exist. There was an autosurf scam of 20 million $$ it offered 144% in 12 days. Who falls for that? I mean my god do they think the profits fall out of the heavens?

Honestly, if people want to give a faceless organisation their person info then goodluck to them. Anyone of use posting here can make our own app and also demand KYC. There is nothing legal about it. KYC is for banking and voting and things like that. Not some silly app that gives you coins for logging in.

Using the guise of "preventing multiple accounts" to harvest personal info.

I mean what is next? Video games asking us for KYC so we cant make multiple accounts?

The problem is that these kind of scams usually spread through population that can barely use smartphone , laptop, tablet or pc. So for them, only info they get is only info they know. That is usually that this app is gonna make them wealthy and all they need to do is click once a day and say to all their friends about it so they can earn more.

KYC? What is that? Is that something you can eat?   

They have no clue what is KYC, but they are told they need to do it to get their money, so they do it.

In essence that is the issue. Uneducated mass.

[miner29]

FUBT shut down...

This refers to IOU tokens. FUBT has shut down so this IOU trading is no longer happening. Main net launch of Pi Network is yet to take place. Check for announcement: https://fubthelp.zendesk.com/hc/en-us/articles/360040503052--New-Token-FU-BT-will-list-Pi-NETWORK-futures-on-March-14-2020


When every sign screams scam...its a scam.

/also shows inactive and  no exchange.  Even the link above now is dead..same as the chances of earning anything from Pi. 

[btcltcdigger]

Oh wow. I just say the news of the KYC.

Please, someone, explain to me how a logical person can look at something that asks for the personal info of 100k people and think thats a good idea? I mean are people completely retarded? I can't believe how many stupid gullible people exist. There was an autosurf scam of 20 million $$ it offered 144% in 12 days. Who falls for that? I mean my god do they think the profits fall out of the heavens?

Honestly, if people want to give a faceless organisation their person info then goodluck to them. Anyone of use posting here can make our own app and also demand KYC. There is nothing legal about it. KYC is for banking and voting and things like that. Not some silly app that gives you coins for logging in.

Using the guise of "preventing multiple accounts" to harvest personal info.

I mean what is next? Video games asking us for KYC so we cant make multiple accounts?

The problem is that these kind of scams usually spread through population that can barely use smartphone , laptop, tablet or pc. So for them, only info they get is only info they know. That is usually that this app is gonna make them wealthy and all they need to do is click once a day and say to all their friends about it so they can earn more.

KYC? What is that? Is that something you can eat?   

They have no clue what is KYC, but they are told they need to do it to get their money, so they do it.

In essence that is the issue. Uneducated mass.

Well 99.99% of people like that don't really have anything to lose by exposing their identity. So they aren't concerned about it.
What's the worse it can happen, someone looks them up and sees they're not worth $10 all together? Might even take pity and give them a buck or two

[-CryptoViking-]

Well 99.99% of people like that don't really have anything to lose by exposing their identity. So they aren't concerned about it.
What's the worse it can happen, someone looks them up and sees they're not worth $10 all together? Might even take pity and give them a buck or two

It might seem crazy to a lot of people here, but in essence that is the real truth. People have nothing to lose, have no knowledge about privacy so they try anything that has a good story and scams are experts in that. Selling shit packaged like an american dream.

[Snigdho07]

I have read many users comments very deeply, some people told pi network scam on the other hand some users defined pi as a genuine. But personally I think pi network is not a fraud project. Because they do all the steps as their road map. And their conception is also different.

[Rizzrack]

... But personally I think pi network is not a fraud project. Because they do all the steps as their road map. And their conception is also different.

If this is what you understood from these 6 pages... what can I say... good luck mate 

[jawakoak]

And now this PI network have more than 8 MILLION people guys, when this was trap or thieve for some data on member phone, than its gonna be big scandal as facebook scandal with cambridge analytica case. But whats? some people dont care about this and  people like me believe there is no privacy again with our data,, google, facebook, twitter etc have those data

[Eureka_07]

Hello there OP, just seen this topic, I'm actually mining on pi but thanks to this warning thread.
I become more aware and probably consider quitting from it since the "my" mined Pi will just get stucked on phase 2 if I did not pass a KYC.
And I don't prefer passing any. I wouldn't compromise my privacy just for such possible small earning.

And now this PI network have more than 8 MILLION people guys, when this was trap or thieve for some data on member phone, than its gonna be big scandal as facebook scandal with cambridge analytica case. But whats? some people dont care about this and  people like me believe there is no privacy again with our data,, google, facebook, twitter etc have those data

Those social media like Facbook and Twitter, doesn't require you to pass KYCs. They are not also giving people a little bit of hope to earn from mining on their phone "offline".
On the otherhand, Pi does requiring it's users to pass their KYC forms so they can evaluate them if they are real humans or not, which is much dangerous if you really care for your privacy.
In facebook, you can just use any names and pictures, but in KYCs you can't, if you pass such form, then they already had your human data.
They already know you. Your name. Your location. Everything that is required on KYC form. So think before giving them your sensitive personal info.

[ryap12]

Hello there OP, just seen this topic, I'm actually mining on pi but thanks to this warning thread.
I become more aware and probably consider quitting from it since the "my" mined Pi will just get stucked on phase 2 if I did not pass a KYC.
And I don't prefer passing any. I wouldn't compromise my privacy just for such possible small earning.

And now this PI network have more than 8 MILLION people guys, when this was trap or thieve for some data on member phone, than its gonna be big scandal as facebook scandal with cambridge analytica case. But whats? some people dont care about this and  people like me believe there is no privacy again with our data,, google, facebook, twitter etc have those data

Those social media like Facbook and Twitter, doesn't require you to pass KYCs. They are not also giving people a little bit of hope to earn from mining on their phone "offline".
On the otherhand, Pi does requiring it's users to pass their KYC forms so they can evaluate them if they are real humans or not, which is much dangerous if you really care for your privacy.
In facebook, you can just use any names and pictures, but in KYCs you can't, if you pass such form, then they already had your human data.
They already know you. Your name. Your location. Everything that is required on KYC form. So think before giving them your sensitive personal info.

KYC has been re-enforced because a lot of cheaters have been caught in the APP. If your privacy and personal info is so important than better stay away from it.
Facebook and Twitter are totally different because they earn through ads and traffic. While Pi Network does not earn anything except from it's supporters.

[bitcoinsvrocks]

this coins is all about referrals, i don't trust it, i think they want the app installed in your phone so they can take data and then sell it, like advertising, or something more sinister.
i don't know if is a scam or not, but scam is what is seems.

[-CryptoViking-]

Facebook and Twitter could detect all kinds of abuser without KYC, why this project can't do the same thing (considering the website states the teams consists of PhD/expert) ?

They can't because they have to sell the data they gather to third parties and make tons of money too 

[plr]

this coins is all about referrals, i don't trust it, i think they want the app installed in your phone so they can take data and then sell it, like advertising, or something more sinister.
i don't know if is a scam or not, but scam is what is seems.

After reading all of this I stopped using Miner Pi the risk is way to high for the coins that you are going to get from mining it's not worth it it's a big trap indeed unfortunately, those millions other users are not aware of this trap and it will be too late for them because the company has gathered their data already.

[Tokenista]

What happened:
Today I was just surfing the forum and I saw some people writing about something called PI network.
Recently, this project started working and asked members to install an application on their phone in order to mine some tokens known as PI.
I'm going to share some information about this project here
1. After reading this sentence from their official website you should think more about this project.
"The First Digital Currency You Can Mine On Your Phone"
We all know they are new and it's not possible, even I remember we could mine bitcoin using phones and getting some profit out of it.

2. This currency was/is never listed, and between all the valued crypto related website(For example, bitcointalk ANN) none of them wrote anything about them. (Only some random worthless advertising websites wrote about them.) While other projects such as Electrum listed.

3. There is actually no roadmap in their website. Just an unprofessional roadmap-like without of any details, comparing to other projects It's more like nothing.

4. There is a White-Paper on their website explaining about crypto currencies. The reader would be totally confused.

5. One important thing about them is the team behind the project.
here: https://minepi.com/team
They apparently got real identify. But, but actually said nothing about this project on their social media (Instagram, Linkedin, etc...).
In the other  hand they have got very low amount of followers, maybe for other normal people having low amount of followers is not a big deal but for some people coming from Stanford University and backing a project like this... not normal.

6. And why we can't track our mining details anywhere on blockchain?

7. Even a newbie miner knows that in order to start mining any crypto currency you will stay connected to internet. But you magically you can mine PI when you are offline. They only ask you to launch the application every 24 hours.

Here you may ask when they are not asking us for money how it's scam?
Firstly, in order to mine this token you need to install an application on your smart phone and it's too dangerous if you understand that this application can collect and abuse all your data from your phone or report your personal information somewhere. (can be anywhere even the government)
Secondly, they didn't ask you for any deposit now, but they can ask it anytime "In order to unlock your token deposit $$$ to us".

Every time you install these applications on your smart phone remember they can use your data, spy, steal, etc...

 Also I believe I'm a Representative of Pi Network because I'm a holder of Hundreds of Pi!!  The Core Team is composed of PHDs from Stanford University. They are not hiding from the background just like other projects around. CLICK ON LINK BELOW
https://www.stanforddaily.com/2019/09/16/stanford-grads-develop-cryptocurrency-for-smartphone-users-to-increase-its-accessibility/

1. After reading this sentence from their official website you should think more about this project.
"The First Digital Currency You Can Mine On Your Phone"
We all know they are new and it's not possible, even I remember we could mine bitcoin using phones and getting some profit out of it.

First off it is *NOT*  Bitcoin and you could **NEVER** possibly mine an entire whole 1.0 Bitcoin from a cellphone!
Your taking about is 0.00000000007 Bitcoin mining app!!! 1.0 Bitcoin mining would heat it up to a point of melting!! Bitcoin uses your CPU & GPU, With Pi Network I'm earning between 20.0 to 30.0 Pi a day!  So yeah first Mining app that's able to mine a whole 1.0 Coin,
Second it doesn't work like bitcoin --- *different algorithm*
3rd it's based in the cloud!  Cellphone is just the controller "like your garage door opener", you just press a button on your phone to turn it on every 24 hours

2. This currency was/is never listed, and between all the valued crypto related website(For example, bitcointalk ANN) none of them wrote anything about them. (Only some random worthless advertising websites wrote about them.) While other projects such as Electrum listed.

Pi isn't listed yet! same as Bitcoin in early stages in 2008! it also was created by *FREE* mined coins


3. There is actually no roadmap in their website. Just an unprofessional roadmap-like without of any details, comparing to other projects It's more like nothing.

It is all explained in the FAQ(basic answers) and the White Paper(more depth) plus Core Team gives updates in the App all the time and there is chat rooms built in for questions.  Just recently the Pi Node beta software for computers is starting in May which is going to be testing/calibrating the consensus algorithm.   Pi Network is based on trust circle for Network, not like Bitcoin that 1% of the network owns 87% of all bitcoins!  Who wants that scam, plus Big corporation farming companies hogging all coins that a normal average person cant even try to mine for profit!!

4. There is a White-Paper on their website explaining about crypto currencies. The reader would be totally confused.

For answers to your questions to be less confused there is the FAQ to read inside App! or click here
 https://minepi.com/faq  Also a White Paper on website and inside App for people like me that understand it!
  
5. One important thing about them is the team behind the project.
here: https://minepi.com/team
They apparently got real identify. But, but actually said nothing about this project on their social media (Instagram, Linkedin, etc...).
In the other  hand they have got very low amount of followers, maybe for other normal people having low amount of followers is not a big deal but for some people coming from Stanford University and backing a project like this... not normal.

  They have 4+ Million followers inside the app and growing at a blazing fast pace! App is also a social Network!  In the app is where their trusted social network is anyways!  All outsiders will be left outside then when free coins stop that's when someone like you will pay  !!  

6. And why we can't track our mining details anywhere on blockchain?

This is brand NEW first created mining app for cellphone, it takes time, only 1 year old, even the app is in Beta version, but not long.  They explain it all in White Paper and the FAQ!  Pi Network is in Phase 2 since March.  There are 3 phases(which is when Pi will go to marketplace) I'm stacking Pi coins for free NOW!

Here you may ask when they are not asking us for money how it's scam?
Firstly, in order to mine this token you need to install an application on your smart phone and it's too dangerous if you understand that this application can collect and abuse all your data from your phone or report your personal information somewhere. (can be anywhere even the government)
Secondly, they didn't ask you for any deposit now, but they can ask it anytime "In order to unlock your token deposit $$$ to us".

Your cellphone contacts is optional for Pi Network to get access to, its your choice!!  Facebook abuses your data! Anything can, even bitcoin, even me talking to you now on the internet can, what is your point.  And Bitcoin back in 2008 didn't ask for money nor did they ask to unlock your coins for $$!   Pi I think will be more towards $10 - $15 which the average person on earth can afford price and use! Whats the point of a digital coin if no one can afford to use it and exchange it?  Which why Pi Network is creating a marketplace for everyone in the world to use it.  Mostly everyone in the world has a cellphone and that speaks numbers ### like Billions!!!!!

Hopefully I answered all your questions, if not feel free to ask, or join I provided all info..  Hopefully, you will join the Network and be a fellow Pi miner before limited free coins ends my friends.

Click below to join the revolution
JUST ASK ME FOR THE LINK
(you will see its checked by App Store and Play store)

and use my invitation code JUST ASK ME FOR CODE By using my invitation code you will be able to open your account and be a member of my team chat where I can answer all your questions regarding the project and guide through the process

People used to talk about mining on phones with GPUs, and it might have been being done

[piececollector]

Here's a coin that supports the Pi Network called Piece. Have A Piece!!!

pieceofpi.world



Piece (Piece Of Pi) (Litecoin fork) (2020-2028)

Max Supply: 13,528,181
Block Reward: 1
Block Size: 600 Bytes
Block Halving: 2178892 blocks
Block Time: 4.2 seconds
Ports: Main - 2999 Test - 12999
Retarget time: 54.11 days
Algorithm: Scrypt

pieceofpi.world (coming soon)😊

Github

https://github.com/piecemaster/pieceup

[examplens]

...

People used to talk about mining on phones with GPUs, and it might have been being done

So, where to sell this shit?
It sounds like any other cloud mining scam. You mine, you got some points in some virtual application, but nothing real. You can't get anything real from there, can't withdraw, can't exchange for Bitcoin, fiat etc... So, what you can with a lot of Pi in your wallet?
what is the purpose of this coin?

[GazetaBitcoin]

Pi is not a crptocurrency, as it doesn't have a blockchain. You can't do anything with Pi in your wallet because it is not a cryptocurrency and it doesn't have any value. It is just a Ponzi scheme, similar to One Coin and BitConnect. If you read the earlier posts, you can see also quotes from their official website, stating the same thing. You can't mine it (mining with phone is a joke, I hope you realize that) and you can't sell it anywhere, as no rational person would buy something without value.

[btcltcdigger]

So is this shit stil alive or was it exit scammed finally?
TBH i've not heard a single peep or a PI shill in months, so i figured it just went away and people pretened it never existed