I recoment to take a look at this thread where bitcointalk community discussed Pi network:
https://bitcointalk.org/index.php?topic=5237735.0
The conclusion was: Its a scam, It collects too much data about users, and you are risking for close to 0:
I would stay away from this project.
pi network can be detected as fraud or not if it really already has the facts. however, until now there are still pros and cons with the pi network. some say scam and some say legal. this must really be proven in real terms before giving a statement about this project.https://bitcointalk.org/index.php?topic=5237735.0
The conclusion was: Its a scam, It collects too much data about users, and you are risking for close to 0:
so after long research I found that:
1-their website says that the application actually mines the coin!
2-The application steals more than your info!
3-The application make connections to a lot of ads services in the background!
4-here is a Virustotal scan for their apk and it shows that the app takes a lot of permissions that steal everything on your phone https://www.virustotal.com/gui/file/3aa2994e6885d0c3fcff3b038f8b4da9b727138c5cc10533b0e8ebedb3075b41/details
1-their website says that the application actually mines the coin!
2-The application steals more than your info!
3-The application make connections to a lot of ads services in the background!
4-here is a Virustotal scan for their apk and it shows that the app takes a lot of permissions that steal everything on your phone https://www.virustotal.com/gui/file/3aa2994e6885d0c3fcff3b038f8b4da9b727138c5cc10533b0e8ebedb3075b41/details
0.25 PI per hour = 6 PI for day for 3 million nodes ... 18 million supply daily for how long? More than a year? We can estimate that it is about 18 * 10^6 * 365 / (lets say linear increment so 2) = 3 billion supply
With 3 billion supply we are talking about 1 billion dollars in marketcap (top 15 CMC). We should expect price drop 99% after unlocking tokes. For everyone considering mining (thinking that money is more important than your personal data) - you will not get even a fraction of what you think you will get. I'm wondering what is this price based on? Who is selling if all mined coins are locked? In reality this is a top 500 - 1000 CMC project currently (my estimation ... of cours if not scam) so we are talking about 2 milion marketcap and 0.0006 $ per PI, 0,004$ per DAY, 1,46$ per YEAR per NODE risking all your personal data
With 3 billion supply we are talking about 1 billion dollars in marketcap (top 15 CMC). We should expect price drop 99% after unlocking tokes. For everyone considering mining (thinking that money is more important than your personal data) - you will not get even a fraction of what you think you will get. I'm wondering what is this price based on? Who is selling if all mined coins are locked? In reality this is a top 500 - 1000 CMC project currently (my estimation ... of cours if not scam) so we are talking about 2 milion marketcap and 0.0006 $ per PI, 0,004$ per DAY, 1,46$ per YEAR per NODE risking all your personal data
I would stay away from this project.