Topic: Fixed mindset you shouldn't crossover to 2022 as a BTT member (Read 209 times)

It is a scam because they advertised that you can mine PI Network even when you turn off your mobile devices or when your mobile devices are not connected to Internet.

What is kind of a project which created a few years and can not list on Coinmarketcap or Coingecko? These websites are gold standard and are first steps investors will look for information. Projects listed on Coinmarketcap or Coingecko can have rug pulls too but at least they will have to pass through some process of big platforms.

Many factors make me think PI Network is a scam coin. It reminds me about Onecoin famous scam.

The thing is very simple, you need to download the app and open it once a day and do something simple (at least that's how people who use it explained it to me). Of course, you will earn more if you have referrals, so while someone believes the thing works it brings other people in and they introduce new ones and so on indefinitely. For anyone who gives up, there are certainly a few new ones who want to become PI-PI millionaires

Projects like this don't quench easily especially when it Bitcoin halving effect market which is the major season they target the new cryptocurrency investors. I was once among the victim of this type of service because I join Bitcoin during the 2016 bullish market and the sad sorry is that the site shut down around November 2016 and decide to make every users a shit token instead of their initial BTC deposit.

I believe it pure ignorance and greed that make people fall for all this scheme.

That PI network crap is still around? I thought it would be burred until now. Don't the people who "mine" and use that find it weird that the asset is not listed anywhere and can't be traded? I think Borat's Kazakhstani pubic hair could have a greater market share and use case than PI.

Or you can be rewarded with Bitcoin for cloud-mining an altcoin. A friend of mine used Nicehash I think (or some similar platform). His GPU worked on some altcoin while the platform was giving him his share in BTC. He did make certain gains, but very little. Generally speaking, most cloud-mining platforms are pure scams. I suggested that if he is interested in mining, he should simply check what is the most profitable currency to mine with his GPU and once he has enough, covert his profits to BTC. After a while he abandoned the idea altogether. 

You reminded me of a topic from last year where it was shown how it is possible to mine crypto with the Game Boy console, noting that it would take as much as 50 000 years to make a profit of $1

---

Unfortunately, this PI has driven millions of people crazy who really think they are mining some kind of cryptocurrency on their smartphones, which is the best proof of how much the average person understands some basic things when it comes to Bitcoin, which is a prerequisite for understanding the whole concept of altcoins.

---

It would be good for people to stick to this rule, but FOMO can sometimes be so strong that people lose their judgment and fall into debt from which they can hardly get out. There is a very fine line between someone profiting from investing in Bitcoin, to losing everything they have invested and more. I do not mean only volatility, but also the fact that many do not understand that these digital assets are very sensitive and susceptible to hacking.

You should see the number of love an engagement they receive from their social channels. Thousands of like and views, that's shows how dip they have gone in the wrong direction. Telling a PI miner to stop that so called mining is like making a lioness to abandon her Cubs, they always roar and ready to bite your every opinion.

---

You have misqoute my message about Altcoins and lending.



Although altcoins have nothing to do with bitcoin, the post clearly demonstrates the mindset and misconceptions that certain users have developed over time.

I've seen a lot of Altcoins in the announcement thread, and when you check the website, you'll often see collaborations between two companies that never happened. They exploited it to drive sales, but it's inaccurate and misleading. I mentioned some of them up there.

Taking out a loan to buy bitcoin or cryptocurrency is not a good idea. I know a few people who are still paying off loans they took to invest in bitcoin, which turned out terribly, their actions have caused outsiders to question the wisdom of investing in bitcoin, but it was their naive decision.

It's really funny how grownups with functional brains won't heed to reasoning. It's amusing to say the least. Again, I think that type of deceit only gets noobs. Well, maybe it also gets certain old members who've allowed their greed get the better part of their reasoning. To make matters worse, proponents of Pi won't hesitate to be masturbatory at the least of any positive news from that project. Well, it's just a matter of time before they realized they're barking the wrong tree like those who supported Onecoin and The Billion Coin (TBC).

2 days ago pi network luanched their mainnet and pi network lovers all spitting on my face because of this lol 🤣, many I repeat many still believes that pi network will come and the coin will worth 1$ per coin each, I told them that even if pi network ends up landing on a exchange it will be worthless

You talked a lot and yet I could not understand the point you wanted to make.


 - PI Network is a scam and has nothing to do with Bitcoin, if this currency succeeds in something, it is the intensive promotion of it despite it being a scam.
 - Digital platforms, altcoins, and others are all directly or indirectly related to the price of Bitcoin, and therefore if the price collapses, the possibility of all of them collapsing is certain, and the opposite is not necessarily true.
 - Don't buy bitcoin with loan money but don't buy bitcoin with money you can't afford to lose.

Next time, talk less and bring up your idea directly.

Lets forget the fact that PI Network is a scam, the fact that you're putting your mobile device through all those stress that would must likely kill its battery lifespan is not wise. Ignore all those so called phone minable cryptocurrency and concentrate on investment. Mobile phone weren't created for mining. If you have interest in that then go buy mining devices and start mining Bitcoin or any other valuable cryptocurency out there.

For the loans, that's advice for noobs as they're yet to understand money management and don't have the experience for that. If you're noobs go learn money management as there are good loans and bad ones. Don't out do yourself when it comes to investing, be willing to be comfortable losing whatever you're willing to invest which is why it's advice not to over invest or borrow and invest especially when you don't have the experience to handle the pressure that comes with that.

As for the partnership, it has been proven two heads are better than one. You might be skilled but lack the marketing skills to sell yourself and when you partner up with someone with the skills you lack, you progress, so yes that helps as well.

I share the same sentiments with you about the pi network. Simply because some set of individuals in my country have turned it into a nuisance. And bring ridicule to the crypto space. They stay on their phone all day "mining" pi and referring others to join to mine. I think the pi Network is structured in a way that you have to make referrals to increase your mining hashrate so the cycle continues. A lot of people in my neighborhood will be disappointed if they don't make millions from pi network.

As an investment rule "Don't invest more than you can afford". Taking a loan to buy bitcoins is risky. The "dip" you bought can dip further below your support level and you end up losing more than you can afford. This puts one in a dilemma.

At first I thought you were going to shill the shitty scam known as “Pi”. Disappointed, but I got to say this nonsensical & KYC demanding phone-mining started from my country.

You can always mine bitcoin with your PC. It is just usually not worth it. So to clarify:  You can mine even with a Commodore 64. It's just the competition between those farms that make it pointless.

Anyway, happy new year to the bitcointalk family! Wish you the best and health above all.

It's strange and startling at the same time when things that are abnormal and plainly to be ignored, but it hurts and disappoints me when certain people confined their self in that loop and pattern, and the main cause isn't always a lack of understanding, but a pure ignorance coupled with blatant laziness. You can be ignorant about anything, but I can't recall the last time someone without information was misled on a transparent platform or community. When you're in difficulty with any fallacy or confusion, others here will rush to your aid, and that's precisely what Bitcointalk is about ( You can make anonymous friend too I guess)
Many people have developed this attitude and misperception over the years, I see some both in and out of this forum, and it bothers me when I see others discuss them and when you attempt to explain it to them, they don't want to listen because they are so tied to the "I am early in this project" idea. You can't save them no matter how hard you try, but if you're the kind that does this and a BTT member, dump them in 2021, because 2022 is a fantastic year for everyone.

• PI Miners

You enjoy PI or whatever they've promised you over the years, whether it's tokens, underpinning technology, or a bitcoin killer, but Bitcoin has died and risen many times before, but my main issue with this PI thing is mining.
Do you know what mining is all about? Do you know that your PC cannot mine bitcoin unless it is equipped with a specially designed machine known as an Application-specific integrated circuit (ASIC) miner? If someone tells you that you can mine with your phone, you should ignore them, your phone is basically designed to perform the task it is given, use your phone wisely and stop wasting your time referring others to that platform.


Advocating or advising others to invest in bitcoin can be difficult at times, but sharing its applications and adoption is one way to persuade anyone to take bitcoin path, for example, Lightning network LN for purchasing goods, it's very cheap and easy to make payment without having to wait an entire day to confirm transaction, that's one of the things you should teach people about bitcoin, and getting some bitcoin for yourself to hold isn't a bad thing instead of wasting your valuable battery capacity.

• Loan for Bitcoin Purchase

Bitcoin has been such a roller-coaster ride to does who have invested and hold for the past years have been rewarded handsomely, some late investors were fortunate enough to get a few million satoshi right before the pump because they had the money or some cash to spare and it was a huge financial decision for them. For some, it was a money-making bonanza, but for others, it was a tiny loss because they bought practically at all-time highs and haven't drop significantly. A small loss may be easier to accept and find another means to repay your debt, but this is not the best strategy to acquire bitcoin.


I'm not saying don't purchase bitcoin, buy as much as you want, but consider the financial risk-reward and invest the money you don't need at that moment since the market may become unpredictable, don't accept a loan from anyone because you may lose everything.
-Taking out a loan from a bank and not repaying it will result in the seizure and sale of your valuables and collateral.
-Loans from loan sharks can put your lives in danger since they aren't registered, and the interest rates can kill you faster than you think. They may likely threaten your family or close pals.
-Defi is the worst if you aren't equipped on how it operate, do not deposit your bitcoin to take out another loan, this is one of the quickest ways to lose your bitcoin after liquidating your collateral.
Purchase bitcoin and be satiisfy with the amount you were able to get at that time.

• Blind partnership in crypto space

Have you ever witnessed a collaboration between two cooperatives or enterprises when they strike a deal or decide to join forces? The two companies show the legal documentation or signed documents, and sometimes for privacy reasons to investors, and publicly to some media outlets, but the 2021 trend partnerships were different because they intend to use it as a sales tool as it always boosts investors confidence that a well-known company has partnered with them.
Poorly created firms or possible new projects excel at this, but the hoaxes and fictitious partnerships never occur, they are just mentioned on their website because they use their platform or technology. For an example:
A bsc smart contract platform will add binance as their partner.
Coinmarketcap or coingecko will be included because they are on those platforms.
They sometimes they add exchanges too because they are traded on their exchanges.
These aren't partnerships, look out and stay focused.

Happy new year and a blissful month to everyone.