Quote from: FireBallex on Today at 06:29:10 AM

Quote from: browolf on January 26, 2021, 10:08:25 PM

Quote from: Maxstl007 on January 26, 2021, 06:45:55 AM

PI Network have tarnished their own image even if they are real and have something good in mind, all their ways are bad from the beginning, a very long time delay, spamming on forum with new accounts, also I would like to ask why KYC for mining? I have never seen this in crypto space before, is PI Network centralized? Or decentralized.

Mining is a process to detemine allocation of mainnet premine. KYC is to ensure 1 person 1 account and to ensure people aren't cheating the allocation process.

Pi network will be decentralized when mainnet is released. Until then it is not.

To ensure people aren't cheating in what way? It's like telling me that I am cheating Ethereum because I am using 10 graphic cards to mine Ethereum, it's hardware that I spent my money on, that's real mining mate, fully decentralized and can't be controlled by any organization, Pi mining sucks

stellar what pi is based on has a 100% premine which means you need to know how many pi to produce in the genesis block of the mainnet. The fake mining is a process generating pi for each user at an hourly rate mainly based on how many people they personally invited. The total of all that pi + some dev pi is the total amount to produce in the genesis block.

In order to ensure there aren't people with 500 phones accumulating pi they plan to use KYC to ensure 1 account per person any pi associated with accounts that don't pass KYC will be discarded.