Topic: Pi network - KYC is needed to use it! (Read 305 times)
I don't think that Pi Network team are stealing data through the KYC verifications because they use third party KYC verification app called Yoti, I've used this Yoti for verification before and there is no problem, I think that Pi Network team are trying to avoid cheaters on their platform that's why the KYC is a must
I passed the KYC procedure at the beginning of the summer and do not regret anything, especially since you need to pass it not in the PI app, but in the third-party YOTI app, which is officially registered and has its office in London
https://www.yoti.com/contact/
https://www.yoti.com/contact/
My only question to the community is that - are you guys comfortable to share your KYC details to a mobile only cryptocurrency? We have had few mobile only cryptos earlier as well but all of them failed miserably! What's you take on Pi network?
NO.I'm not comfortable with it that is why when I saw that they require KYC in order for you to withdraw your tokens, I immediately uninstall the application. There is no reason for me to give my information to some strangers out there hoping that you can get some few bucks with selling their coin.
My only question to the community is that - are you guys comfortable to share your KYC details to a mobile only cryptocurrency? We have had few mobile only cryptos earlier as well but all of them failed miserably! What's you take on Pi network?
I've been mining Pi for over a year now, and suddenly they are asking for KYC. Even though we cannot make a withdrawal yet, this is very suspicious, and I will not provide my personal data for this. 
I have known the Pi Network project for a long time and use their mobile app, and after hearing I have to do KYC I better not do it, because the KYC I did was not worth the prize I had,
My advice is for those who have a little Pi balance, it's better not to do KYC.
My advice is for those who have a little Pi balance, it's better not to do KYC.
My only question to the community is that - are you guys comfortable to share your KYC details to a mobile only cryptocurrency? We have had few mobile only cryptos earlier as well but all of them failed miserably! What's you take on Pi network?
NO.I'm not comfortable with it that is why when I saw that they require KYC in order for you to withdraw your tokens, I immediately uninstall the application. There is no reason for me to give my information to some strangers out there hoping that you can get some few bucks with selling their coin.
Just think of it. For sure millions of people have PI token already and possible that some of them did the KYC shit. For sure when the token will be listed, they will immediately dump it causing its price to dump and in the end it will be a dead coin. Knowing that they are just like giving free money to people, more people will do it and the more people will do it the more people will dump it. Overall, too good to be true although I tried to mine a bit I don't like the KYC part that they implemented.
I have this Pi network on my mobile and planning to submit a kyc. I see a lot of users to this platform which attracts me to follow what their saying this project is good and have its plan to list in the exchange. Everyday this project is also upto date on social media that is sharing their news to the users. However, I'm still on doubt if passing kyc on pi network is really worth it.
Many thanks for all of your insightful comments! I personally don't think KYC will be a great idea for a mobile only cryptocurrency. Also I smell a rat because the development team didn't mention anything about KYC while launching. Probably they feared that people will not join their project if they speak about KYC at the beginning. But it is not a good buiness practice to be fair!
Secondly, I don't think Pi will have much value in the market because it is easy to mine and don't require any specialized hardware to mine - so no production cost os associated!
I would rather choose to let go my mined Pi than revealing my identity to some random crypto projects!
Secondly, I don't think Pi will have much value in the market because it is easy to mine and don't require any specialized hardware to mine - so no production cost os associated!
I would rather choose to let go my mined Pi than revealing my identity to some random crypto projects!
Well I can say that this might not fall into those "KYC traps" we are seeing as we most likely see this in bounty campaigns where people before they will have a payout will suddenly be required to give KYC requirements before they receive their shares. In this case I didn't see PI network did anything with regards to this matter but I think we can all expect KYC requirements for a complying project right?
No body will feel comfortable to share his KYC. I will share my KYC only to legit project untill " Pulsar " is running. Pulsar is the core behind SYL token which can keep our data for KYC and verified our data. I just read the whitepapper and i am sure it will used in this world, not only crypto world but all project which need KYC need " SYL "
Today, among cryptocurrency users, projects that require the submission of passport data are not very popular. There are a lot of scandals due to the trade of personal data and given the current state of affairs, it is a very bad idea for the project to require KYC. 
PI is a good project based on the surveys and the reviews that have been done in the past. In PI Network you can start earning now even without spending but you need to submit and pass their KYC for you to withdraw your earnings soon. And as we know KYC is referring to Know Your Customer, which they are just making sure that all the users is a legit and not a dummy user.
How much you earn with Pi Network? I mean real earning, money with which you can pay bills, buy foods, shoes... anything?
When is soon? how long "soon" lasts in Pi roadmap?
What survey, reviews? Each user must turn on the application once a day, which is allowed to send data from your mobile phone. Now with KYC, every Pi lunatic will send enough personal information about yourself. With KYC these are more than accurate data.
How long do you think it will be before they sell the data to someone? Probably much faster than his "soon withdraw".
Having kyc in a project helps to prevent scams in their event especially their Mobile PI miner promotes it on social media like facebook and some have franchises and small shops that accept coin payment of PI for products. I do not know if this project has potential because it is dangerous especially for passing kyc on projects that have not been successful and there are also rumors that the professor of PI project became a student of the owner of Ethereum we do not know if this assumption is true.
Why would this project ask KYC for mining?
maybe they would sell your KYC. If you do that, it is to be good for "the project" they built. hard to get money by this time, ICO has died, sell your identity is the best solution. 
Many thanks for all of your insightful comments! I personally don't think KYC will be a great idea for a mobile only cryptocurrency. Also I smell a rat because the development team didn't mention anything about KYC while launching. Probably they feared that people will not join their project if they speak about KYC at the beginning. But it is not a good buiness practice to be fair!
Secondly, I don't think Pi will have much value in the market because it is easy to mine and don't require any specialized hardware to mine - so no production cost os associated!
I would rather choose to let go my mined Pi than revealing my identity to some random crypto projects!
There is something fishy here, I do not suggest to participate in this kind of mining scheme because my identity will be at threat whenever I upload it through online. I also using it and there are a lot of people promoting it in social media platforms, I also told them about the threat of uploading your identity and I.Ds online but they are not listening to them. In terms of listing that coin, it seems that it will take more time and for me there is also doesn't have guarantee if that coin will be listed or not. If they will mine a specific cryptocurrency, I think it is better if they will make deep a research first wherein, they must ensure that the mining application will not require any verification for them to not have a hassle or to not get prone in any danger because of KYC. Secondly, I don't think Pi will have much value in the market because it is easy to mine and don't require any specialized hardware to mine - so no production cost os associated!
I would rather choose to let go my mined Pi than revealing my identity to some random crypto projects!
Why would this project ask KYC for mining? I have never heard of such since i entered crypto space, I don't believe that the team have something good in mind for this KYC requirement, it's suspicious and can't be trusted, this pi Network project have many bad comments on this forum I won't except something good out of it
I never trust Pi Network since day one, the project is very suspicious and I don't see any good utility that can solve any problem in crypto space from this project, it's just a mobile mining project and it's not even a real mining it works like cloud mining and now they plan to implement KYC? That's red flag
I am sure a lot of altcoin people have heard this name - Pi Network. It is a mobile only cryptocurrency which can be mined only through mobile. I had downloaded their mobile app out of curiosity and by now I have few thousands of Pi token. Now, the Pi network is planning to move to their next phase where it will be listed to the market. But, miners will have to complete their KYC information before they can withdraw their mined tokens.
My only question to the community is that - are you guys comfortable to share your KYC details to a mobile only cryptocurrency? We have had few mobile only cryptos earlier as well but all of them failed miserably! What's you take on Pi network?
My only question to the community is that - are you guys comfortable to share your KYC details to a mobile only cryptocurrency? We have had few mobile only cryptos earlier as well but all of them failed miserably! What's you take on Pi network?
They have already announced that already when they are started the mining project, and I knew that they are going to do that because that kind of application is prone to cheating, I disable my Miner pi in my wallet, the project is very suspicious and they are not decentralized and the worst part id they have billions supply of token, I'm better off on the top coins in the market with proven usability.
Many thanks for all of your insightful comments! I personally don't think KYC will be a great idea for a mobile only cryptocurrency. Also I smell a rat because the development team didn't mention anything about KYC while launching. Probably they feared that people will not join their project if they speak about KYC at the beginning. But it is not a good buiness practice to be fair!
Secondly, I don't think Pi will have much value in the market because it is easy to mine and don't require any specialized hardware to mine - so no production cost os associated!
I would rather choose to let go my mined Pi than revealing my identity to some random crypto projects!
Secondly, I don't think Pi will have much value in the market because it is easy to mine and don't require any specialized hardware to mine - so no production cost os associated!
I would rather choose to let go my mined Pi than revealing my identity to some random crypto projects!
PI is a good project based on the surveys and the reviews that have been done in the past. In PI Network you can start earning now even without spending but you need to submit and pass their KYC for you to withdraw your earnings soon. And as we know KYC is referring to Know Your Customer, which they are just making sure that all the users is a legit and not a dummy user.
HAHA I knew they're going announced KYC super late when a lot of users already mined so much coins. This just shows how shady this project is. The best part is that, it doesn't even have significant value yet! and what's the point of KYC anyway? So what if people who mined this coins are anonymous, it's not like they are cheating the system anyway, they really can cheat the system, then their project is a failure. This is pretty stupid.
I'm joining Pi Network last year and already got around 600+ Pi from their "Mining", The community was really big for sure but it's didn't mean it was good, Even like that There also real People behind Pi Network as you can see here and so far i'm already see some video about their core team and one of them you can see here https://www.facebook.com/PiCoreTeam/posts/725532661316429?comment_id=725621517974210 but after hearing that KYC things I don't really agree with that, Even though it looks convincing, I will still consider KYC and see the Risk first .
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