PI Network! A huge trap[Warning!] - page 10.

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Quote from: Yatsan on June 15, 2020, 11:02:02 AM

They are cryptocurrency but they have their own unlocking stage and the exchange off the coin itself is at their website/mobile app, (please correct me if I am wrong). Pi network is basically self proclaim cryptocurrency without having the requirements to be called as cryptocurrency itself.

I see a lot of coins like this which is scam, same scheme but different method. TBC(the billion coin) and Smash coin will be the best example that I can give.

I did not know about TBC and Smash coin, but I think the most representative similar scams are BitConnect and One Coin. Both stated they have a blockchain (and they didn't have any), that the coins will be mineable (which did not happen) and in the end they turned out as two of the biggest Ponzi schemes ever known. I remember that One Coin also had (has?) a site similar to a marketplace for this coin, but there was nothing to buy, maybe excepting some honey jars lol. The Bulgarian woman who invented One Coin dissappeared a few years ago, after Police started to look for her and her whereabouts are still unknown.

Pi is the same attempt of deceiving people and scam them. Beware!

Yatsan

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I read something on Reddit also that, the Pi network is offering a mining system on your mobile devices but it is never affecting any of your phone performance. They are cryptocurrency but they have their own unlocking stage and the exchange off the coin itself is at their website/mobile app, (please correct me if I am wrong). Pi network is basically self proclaim cryptocurrency without having the requirements to be called as cryptocurrency itself.

I see a lot of coins like this which is scam, same scheme but different method. TBC(the billion coin) and Smash coin will be the best example that I can give.

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Quote from: examplens on June 12, 2020, 11:31:42 AM

Quote from: john1010 on June 12, 2020, 09:25:50 AM

All of our discussion here is our prerogative, but we will going to see it at the end of the road of Pi network roadmap, you have your own rights and mine too. Well we will see it this coming days, weeks or months.

...months, years, decades, centuries... who can say with certainty that 1 Pi will worth $5 after 50 years when it comes out on the market. it just takes patience and after 50-100 years all Pi-phone-miners will be rich.
Probably all Pi supporters can't wait moment to celebrate his big win.

Who knows Bitcoin hitted $20K. way back 2010 when i knew about bitcoin so many bad articles and so called guru had their rant about bitcoin and so on and so called blah blah blah. But look at bitcoin now. My question is, Is bitcoin has a solid foundation when the day it was appeared in public? Are we know who behind it? the answer is NO, now i don't want to compare bitcoin in to our subject, bitcoin is bitcoin period. But the point is they've have different presentation to public plus the fact that the people behind Pi has a gut to appear in public to explain the project, Now some of comments here make an argue about the ads etc when you run the apps, it is okay for me, if it is the way to create their fund for the project. Remember they are not ICO. Now the button line is all of our discussion here is just only our opinion.

Quote

...months, years, decades, centuries... who can say with certainty that 1 Pi will worth $5 after 50 years when it comes out on the market. it just takes patience and after 50-100 years all Pi-phone-miners will be rich.
Probably all Pi supporters can't wait moment to celebrate his big win.

very funny and sarcastic statement but if we analyze maybe true or maybe not. Cheesy

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Quote from: CrybabyGansta on May 04, 2020, 09:30:09 AM

What the hell are you talking about Bitcoin did the same think in 2008 all first coins where free from mining.....duh
Bitcoin had FREE coins and guess what it made them money.... you have no argument.... You SOUND LIKE FAKE CNN!!

And duh i already said the Pi Network is in Beta stage....It is not fully up and running till PHASE 3... I will not loose my Pi coins because I am not a ROBOT I can prove I am a HUMAN...

Only private information they can collect is your phone contacts BUT that is your choice to decide to give APP permission.

Please come up with a real Argument!

First of all, Bitcoin did not do the same "think" in 2008, nor the same thing, as it did not exist in 2008. And you mentioned twice about Bitcoin in 2008. Duh. Bitcoin was launched on January 3rd, 2009, thus it is impossible for it to act in 2008 as Pi does now. Duh.

Second of all, Bitcoin never had free coins, nor free from mining (actually this doesn't even make sense - what means "free from mining" Huh

).

Last, but not least: I see you keep yelling lately, which is even worst than writing like a bimbo, with all rainbow colors. Duh. A wise man said once that when you yell or swear is a sign that you finished all your rational arguments. I believe he was right. Duh.

Oh, one more thing: regarding "I will not loose my Pi coins because [...]", the term is "lose", not "loose". Duh.

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Quote from: john1010 on June 12, 2020, 09:25:50 AM

All of our discussion here is our prerogative, but we will going to see it at the end of the road of Pi network roadmap, you have your own rights and mine too. Well we will see it this coming days, weeks or months.

...months, years, decades, centuries... who can say with certainty that 1 Pi will worth $5 after 50 years when it comes out on the market. it just takes patience and after 50-100 years all Pi-phone-miners will be rich.
Probably all Pi supporters can't wait moment to celebrate his big win.

john1010

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All of our discussion here is our prerogative, but we will going to see it at the end of the road of Pi network roadmap, you have your own rights and mine too. Well we will see it this coming days, weeks or months.

aioc

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Quote from: Tytanowy Janusz on June 05, 2020, 12:55:41 PM

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

The supply is really a big issue here, good analysis and they still attract a lot of money here because of the price they are seeing in Coingecko, without analyzing this figure, and mind you they are now running ads every time they open, they are already making money while developing the platform with all those million views, I think they already plan this and it's part of their roadmap, I wonder what more they can add so they can make money from their millions of members.

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Quote from: CrybabyGansta on May 04, 2020, 09:43:05 AM

[deleted fonts and colours, we are not in kindergarten]
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,

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 (now you know why you can mine whole coin daily and you can't mine whole bitcoin daily with mobile app?)

Quote from: smyslov on June 05, 2020, 10:48:59 AM

It is already being traded in one Chinese exchange in the form of IOU token at $0.348900 looks good even if the token is not yet distributed
this is a big temptation for people to mine, but when they distributed the token I doubt it can maintain the price it will definitely crash the price, people are mining it for the money, it's easy money so they think it is.
https://www.coingecko.com/en/coins/pi-network-iou

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

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Quote from: Nellayar on June 05, 2020, 07:52:38 AM

I downloaded this app when it was launched. Upon looking at your thread, I am convinced that it is scam. Yet, I don't want to accuse them without their launch in exchange. Who knows? Even the impossible mission in going to the moon was did by humans. But this is a good thread so that other users may warn in case all allegations are true.

It is already being traded in one Chinese exchange in the form of IOU token at $0.348900 looks good even if the token is not yet distributed
this is a big temptation for people to mine, but when they distributed the token I doubt it can maintain the price it will definitely crash the price, people are mining it for the money, it's easy money so they think it is.
https://www.coingecko.com/en/coins/pi-network-iou

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Quote from: Leviathan.007 on June 04, 2020, 06:29:35 PM

Quote from: epis11 on June 04, 2020, 12:21:19 AM

do you think this team from Standford University with MBA, PhD degree are ruining their reputation just to build a shitty scam app?

You have no idea, someone with low educational level will create random scam websites, but if they are graduated from standford we expect them to be more creative for their purpose. Educating in university won't change the personality. There are highly educated and also some illiterate scammers, they both have their own ways.

The reason why I said this can be a malware in the first place is the application asking user to execute it every 24 hours. This is exactly what a malware need because the process will be killed usually by random defenders/OS and needs to be executed again. Also, stealers usually stay quiet in your phone and just collect the information, what they need? to be execute periodically to upload the collected information.
After all I said even if it's not malware, we understood they are making income by ads secretly without of saying anything about it.

I downloaded this app when it was launched. Upon looking at your thread, I am convinced that it is scam. Yet, I don't want to accuse them without their launch in exchange. Who knows? Even the impossible mission in going to the moon was did by humans. But this is a good thread so that other users may warn in case all allegations are true.

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Quote from: epis11 on June 04, 2020, 12:21:19 AM

do you think this team from Standford University with MBA, PhD degree are ruining their reputation just to build a shitty scam app?

You have no idea, someone with low educational level will create random scam websites, but if they are graduated from standford we expect them to be more creative for their purpose. Educating in university won't change the personality. There are highly educated and also some illiterate scammers, they both have their own ways.

The reason why I said this can be a malware in the first place is the application asking user to execute it every 24 hours. This is exactly what a malware need because the process will be killed usually by random defenders/OS and needs to be executed again. Also, stealers usually stay quiet in your phone and just collect the information, what they need? to be execute periodically to upload the collected information.
After all I said even if it's not malware, we understood they are making income by ads secretly without of saying anything about it.

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Quote from: smyslov on June 04, 2020, 01:04:15 PM

This is a good debate and a good resources for those who already have Miner Pi and for those who are about to install it, it's for them to decide if it's worth it or not, one of my friend had it in his phone and he notice that they are putting ads to monetize their application, imagine millions are accessing the application, imagine the income.

There is no mining, nor any function that has anything to do with mining. It is the only application which counts some numbers and gives "Pi" name to these numbers. They are still on testnet (after many years) and we cannot know if the applications are connected to the network, or it’s just waving a carrot in front of Pi-lovers nose.

Quote from: Pi Network Cryptocurrency on June 04, 2020, 05:23:25 PM

This video shows you why Pi Network cryptocurrency and Pi Network app are not a scam

https://www.youtube.com/watch?v=ReuRkSKkPiQ

You create an account just to share this Youtube link?
in the end, your video offers no explanation. Nothing more than we already read here, just a few words from nobody. that such a thing exists on YT, that does not mean it is true.

edit: Pi Network app is not a scam, it is rubbish and nonsense.

Pi Network Cryptocurrency

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This video shows you why Pi Network cryptocurrency and Pi Network app are not a scam

https://www.youtube.com/watch?v=ReuRkSKkPiQ

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This is a good debate and a good resources for those who already have Miner Pi and for those who are about to install it, it's for them to decide if it's worth it or not, one of my friend had it in his phone and he notice that they are putting ads to monetize their application, imagine millions are accessing the application, imagine the income.

examplens

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Quote from: epis11 on June 04, 2020, 12:21:19 AM

First Im not affiliated with Pi, Pi network is currently in early stage of development phase 2 testnet you cannot build your own blockchain in a week it takes years, about your concern on asking kyc and data theft on your phone its not new anymore hundreds of app today are stealing your identity once you use your phone or pc and connecting to internet your identity is at risk anymore including your lovelife Grin

so if you are too concern about stealing your identity dont connect to internet simple, do you think this team from Standford University with MBA, PhD degree are ruining their reputation just to build a shitty scam app? its too early to criticize a project in early phase of development if you read thoroughly the whitepaper you will understand what protocol they are proposing read gain https://minepi.com/white-paper recently they ask members of pi pioneers in chat about ico or in app ads to sustain the development of this project and instead of using a quick and easy money ico system they decided to earn organically via in app ads and I dont see any problems here

You are not affiliated with Pi, but it seems you are very well informed about Pi, how it's work, team education level etc... I personally can't really trust you that you are not connected with Pi, so I attribute your post to shilling for Pi.
I know some of the well established and functional project which develops his own network in the first year of the stage. I also know a lot of projects that have been developing the product over the years and at the end, they develop nothing. What is the next stage after "early stage of development phase 2 testnet"? The middle stage of development phase 3 testnet?
how long does it take for "early phase of development"? 10 years? more?

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First Im not affiliated with Pi, Pi network is currently in early stage of development phase 2 testnet you cannot build your own blockchain in a week it takes years, about your concern on asking kyc and data theft on your phone its not new anymore hundreds of app today are stealing your identity once you use your phone or pc and connecting to internet your identity is at risk anymore including your lovelife Grin

so if you are too concern about stealing your identity dont connect to internet simple, do you think this team from Standford University with MBA, PhD degree are ruining their reputation just to build a shitty scam app? its too early to criticize a project in early phase of development if you read thoroughly the whitepaper you will understand what protocol they are proposing read gain https://minepi.com/white-paper recently they ask members of pi pioneers in chat about ico or in app ads to sustain the development of this project and instead of using a quick and easy money ico system they decided to earn organically via in app ads and I dont see any problems here

Quote from: Leviathan.007 on April 03, 2020, 05:08:09 PM

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.
So this websites earning million dollars are worthless to you?
https://finance.yahoo.com/news/pi-network-launches-mobile-cryptocurrency-100000466.html
https://cointelegraph.com/news/stanford-grads-crypto-network-hits-half-a-million-users-in-6-months
https://www.stanforddaily.com/2019/09/16/stanford-grads-develop-cryptocurrency-for-smartphone-users-to-increase-its-accessibility/
https://changelly.com/blog/pi-network-pi-price-prediction/
6. And why we can't track our mining details anywhere on blockchain? Im sure you did not read before posting.
Blockchain status: testnet
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) Google, facebook, twitter doing this for years, are you new to www?

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Quote from: ?? on ??

~snip~

Yes, Its doesn't require any disassemble process. Just like PEiD/PEBrowse Professional/PE Explorer they monitoring the actions done by the application in the background. Monitoring HTTPS connections can't be hard but sad'y I don't have enough knowledge about it

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Quote from: ABCbits on May 27, 2020, 01:52:44 AM

TLDR it's a spyware. It'd be great if someone could perform HTTPS interception to see what kind of data is sent to ads services.

Thank you ETFbitcoin for providing more info,
As I said before in the first post, this can be some sort of malware/spyware.
I know we can use Ollydbg/PEiD/PEBrowse Professional/PE Explorer/Strings v2.53(by Microsoft) in order to track the executable file (.EXE) on windows. Also we can use decompilers and dissemblers to check the assembly codes (lower lever language codes) to find the malware possible patterns.
But unfortunately, I don't have much info about how to analyze the APK files. This could be really nice if someone analyze the APK file and monitor the actions just like what you done here. Much appreciated for it.

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Quote from: john1010 on May 29, 2020, 09:42:48 PM

Quote from: cabron on May 03, 2020, 03:07:24 AM

Phase 3 must be where the exchange listing because how is this coin going to be spent on something in exchange if there is nothing we can do with the coin? But why asking for KYC. Is this for extorting the miners? Grin

This PI coin doesn't exist on any market, you can't buy it for BTC nor a product of someone. Those who mine the coins are just mining it for nothing.

No sir, you are wrong for that. Pi is now listed on coingecko and traded to FUBT with a price of $0.347565
for your reference here's the link:
https://www.coingecko.com/en/coins/pi-network-iou#markets
https://www.fubt.co/#/TradeCenter/piusdt

But i agree in one of your comment above that what will happen if someone does not pass in the KYC? that is the very sad part of the story. I admit that me too, Im very pessimistic with KYC i don;t like it. But up until now i'll always follow their announcement and as far as i know the dev has a gut to show their face on public video. So let's watch the development.

Are you sure that is Pi listed on Coingecko? you talk so confidently and you haven't even checked all the information you have. because of that you just act incompetent and your efforts only hurt this Pi "project". of course if they have any authority, you can't hurt something that doesn't exist.

watch this carefully it's a notification from Coingecko page:
"This refers to IOU tokens. Main net launch of Pi Network is yet to take place. This is an IOU token. Check for announcement: https://fubthelp.zendesk.com/hc/en-us/articles/360040503052--New-Token-FU-BT-will-list-Pi-NETWORK-futures-on-March-14-2020"

Also this:

Quote from: Sephirothx on June 01, 2020, 03:51:15 AM

The pi network start to insert ads in their apps... That's a lot of money to earn with millions of mining users Roll Eyes

obviously this is the ultimate goal from there. Ads reselling.

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The pi network start to insert ads in their apps... That's a lot of money to earn with millions of mining users Roll Eyes

Topic: PI Network! A huge trap[Warning!] - page 10. (Read 10142 times)