Pi Network

[abel1337]

Pi is a phone app trying to monetize and has over 13 million users.  What do you guys think about this?

https://research.aimultiple.com/pi-network/

https://medium.com/the-blue-stars/pi-network-will-be-the-next-bitcoin-of-the-future-d571ffda58f9

I have heard that they are spying into your phone as there is no mining which can be done on the phone. I myself wont recommend to get involve in this PI network and risk your security/identity as we don't know what data they are monitoring on our phone.

It's something that is advisable to download into old phones knowing that there are risks like this. pi doesn't really have a value right now and as far as I can see the team is just keeping their project going and doesn't have a plan yet to conduct a crowdsale. Pi network is existing for more than a year and I believed that there are only a few miners in the early stage that are still mining on their application today because their token isn't tradable.

[JooBra]

It does not mine anything as of now. Thus no battery drain. This is because the pi ecosystem need a certain number of users to actually start functioning. So until we reach that threshold and people start mining (as a node on PC) the coin practically has 0 value
If you're a techie and want to know how pi actually works, refer it's White paper it's on the Pi Network discord or the app or the site basically it's everywhere

I agree that there is no real value but we need to think about the marketing. A lot of people know about Pi network ant that has some value to it. If they can do it right maybe there can be something from it.

[Lordhermes]

It does not mine anything as of now. Thus no battery drain. This is because the pi ecosystem need a certain number of users to actually start functioning. So until we reach that threshold and people start mining (as a node on PC) the coin practically has 0 value
If you're a techie and want to know how pi actually works, refer it's White paper it's on the Pi Network discord or the app or the site basically it's everywhere

I agree that there is no real value but we need to think about the marketing. A lot of people know about Pi network ant that has some value to it. If they can do it right maybe there can be something from it.

There is no way a mining can be done in the phone device, it's absolutely impossible, the hardwares used have greater GPU space and with good efficiency compared to the ones in phone device even in PC,  Pi network teams are sort of scammers trying harder to get access to peoples storage files and get rid of all their secret keys, who knows if the recent hack of wallet is operated by pi network hired scammers. I may be wrong anyway.

[honglu69]

Pi is scam

Mobile miners need KYC to withdraw coins. This to me means that Pi at best is airdrop of coins. Airdrop is not mobile mining.

The world first mobile mineable coin on real phones is Nengcoin (NENG).  NENG is scrypt coin mineable on android phones starting in summer of 2020.  The second coin that is mineable on mobile phone is Cheetahcoin (Nengcoin fork on SHA256).  Both coins have randomSpike on top of scrypt/SHA256 that allows CPU miners to get 20% of all block rewards while ASIC miners obtain 80% of rewards.

Pi has no blockchain.  KYCed mining for phone miners are not mining, they are fake, just airdrop.

The real mobile mineable coins today are Nengcoin and Cheetahcoin,  a new type of scrypt and SHA256 coins.

[Tipstar]

I too used the app for over a year and stopped using it after they started displaying ads while providing users with fake promises. I completely left the platform after they started enforcing KYC without any clear roadmap of listing. And it's been more than a year and they still don't have anything. They collected users personal info and no one know how it's been used. The tokens remain only on numbers and not on an actual blockchain.

[judeafante]

I too used the app for over a year and stopped using it after they started displaying ads while providing users with fake promises. I completely left the platform after they started enforcing KYC without any clear roadmap of listing. And it's been more than a year and they still don't have anything. They collected users personal info and no one know how it's been used. The tokens remain only on numbers and not on an actual blockchain.

I also stopped using this application, those ads they are displaying will give them millions of dollars of revenue, imagine the millions of people they've been used and still using to make a profit from their website, people who are participating should realize that they are being used by the developers to make money and they will continue to extend it so they can make a lot of money, that is why these developers are not launching their project here for fear of criticism.

[Rexler]

This Pi network is literally everywhere right now, I have seen so many people talking about it, I guess everyone mining it now are hoping it will become the next bitcoin in the future since its free and doesn't have any value now, personally I don't see any reason why I should mine this coin, can anyone explain to me the real use case, cuz the only thing I see people post is about how it's going to be the next big thing in crypto  .

[aioc]

This Pi network is literally everywhere right now, I have seen so many people talking about it, I guess everyone mining it now are hoping it will become the next bitcoin in the future since its free and doesn't have any value now, personally I don't see any reason why I should mine this coin, can anyone explain to me the real use case, cuz the only thing I see people post is about how it's going to be the next big thing in crypto  .

Next Bitcoin? are they dreaming, they better get the facts first, it's fully decentralized they have full control on everything and they are asking for KYC and they are monetizing their platform, they are users, and they want to make a profit out of their users, they don't have a chance at all to enter even in the top 100, once they distributed the tokens, those who mined will dump it, and leave it.

[fullhdpixel]

There is no way a mining can be done in the phone device, it's absolutely impossible, the hardwares used have greater GPU space and with good efficiency compared to the ones in phone device even in PC,  Pi network teams are sort of scammers trying harder to get access to peoples storage files and get rid of all their secret keys, who knows if the recent hack of wallet is operated by pi network hired scammers. I may be wrong anyway.

They might be scammers (or not) I wouldn't know that but they are great in marketing, that is their positive. I know one person who has absolutely nothing to do with crypto and never invested into anything, including bitcoin, asked me about Pi for example, that was the moment I realized I may not invest into this, but it will grow, maybe in price or maybe in user numbers but I know that it will grow.

After all, if a person who never invested even into bitcoin suddenly gets an interest towards PI that means that project team must be doing something right, that seems like a possible deal. I am not saying it will go above everything else, but a possible increase could happen if they keep going like this. I also think that it could turn into something myself as well, it is not an empty deal, but I just think marketing is done better than the actual work.

[casperBGD]

~snip

After all, if a person who never invested even into bitcoin suddenly gets an interest towards PI that means that project team must be doing something right, that seems like a possible deal. I am not saying it will go above everything else, but a possible increase could happen if they keep going like this. I also think that it could turn into something myself as well, it is not an empty deal, but I just think marketing is done better than the actual work.

yeah, and get interest since there is no investment, you install some app and collect money on your phone, could not be better, isn't it?
and in reality, you collect some Pi coins that are not on the blockchain, do not have any value, and will never have value, everyone just want to sell theirs when there will be a chance, I will skip it

[examplens]

~snip

After all, if a person who never invested even into bitcoin suddenly gets an interest towards PI that means that project team must be doing something right, that seems like a possible deal. I am not saying it will go above everything else, but a possible increase could happen if they keep going like this. I also think that it could turn into something myself as well, it is not an empty deal, but I just think marketing is done better than the actual work.

yeah, and get interest since there is no investment, you install some app and collect money on your phone, could not be better, isn't it?
and in reality, you collect some Pi coins that are not on the blockchain, do not have any value, and will never have value, everyone just want to sell theirs when there will be a chance, I will skip it

I have to admit this is a great job done by the people behind Pi. If it's three, 13 million people had installed his app, that's a huge number and with KYC it will be a valuable database. I guess they will be able to sell it for a good amount of money. 13 million people who believe in Santa, are so naive that it is possible to sell them whatever you want.

[Rexler]

... Snip..

Next Bitcoin? are they dreaming, they better get the facts first, it's fully decentralized they have full control on everything and they are asking for KYC and they are monetizing their platform, they are users, and they want to make a profit out of their users, they don't have a chance at all to enter even in the top 100, once they distributed the tokens, those who mined will dump it, and leave it.

Airdroppers are the people shilling this Pi network of a thing, since they can actually earn free tokens from it, hoping it will be the next bitcoin, i don't even think it's possible to mine with a mobile phone, but those devs have decided to fool tons of people making them feel like they are mining something useful not knowing they are actually helping the devs to make good money becuz just as you said there are ads on the app, imagine 1 million people mistakenly clicked those ads even for once, those devs are making shit load of money, damn.

[androyster]

PI launched it's wallet on March 31st.  There is a Pi node.  They are testing it publicly as we speak.

[int03h]

Isnt pi network hype already passed away? I remember the era when pi advertise their project everywhere and many people installed them on the phone just like ETN mining in the past.

I remember ETN, mining ETN on mobile devices takes time and consumes mobile space. Each individual can only mine ETN in small quantities, which looks very time-secret and has little value.
As for Pi, I noticed that there are systems of Pi mining, it's like multi-level games. Whoever mobilizes more people to join their network gets more coins. I have seen accounts with millions of Pi. So if you do this personally, without the network it won't create much value.
I just observed Pi and was not interested in this project.

[androyster]

Mining Pi doesn't cost anything and it doesn't use any resources on your phone from what I can tell.  The only downside is that  It keeps running as long as you restart it every 24 hours.  The coins that the "pioneers" mine will transfer to their non custodial wallets once the node is ready to go.  Other than that, what harm is it to see what happens?  I could end up having some monetary value.  BTC started off with no value too.

Currently all Pi "pioneers" who have been mining on their phones will get the pi they mined transferred to the wallet once it's ready.  Right now they are testing it giving everyone 100 pi.

[ecnalubma]

Been mining it for a year, though there’s really no harm done on my phone whatsoever so I continued mining daily. I have still have some doubts with the project, but this is part of my experiment lets see what happen if it hit exchanges though Its my due diligence and willing to gamble with this and didn’t spent a single cent.

[androyster]

Been mining it for a year, though there’s really no harm done on my phone whatsoever so I continued mining daily. I have still have some doubts with the project, but this is part of my experiment lets see what happen if it hit exchanges though Its my due diligence and willing to gamble with this and didn’t spent a single cent.

Meto.  No harm no cost.  All upside if you ask me for potential profits if they materialize.  If not delete the app and move on.  No biggie.

[JooBra]

the idea would also be good a program to mine from the mobile phone, currently there are very few of them but it has been a long time since there has been no news of the pi network and the token has never been listed on an exchange so we do not know its real value

They dont even have a wallet to send at the moment so it's far from realisation but like people sad it its free so no harm done for now. It's hard to make it work but until its possible its worth pressing it once a day.

[androyster]

They do have a wallet now.  I've used it and it seems to work fine.  It uses test PI you can send to other wallet holders.  I've tried this and the test pi gets sent and received without problems.