Quote from: schuriken on Today at 01:50:23 PM

Quote from: Leviathan.007 on April 03, 2020, 10:08:09 PM

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".
.

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.

Huh

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 Cool

!!

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 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.