pi cryptocurrency - cryptocrypto.co.za

Pi Cryptocurrency

Is it a scam?

Pi Cryptocurrency is one of those topics which is something we searched hard and couldn’t find the answers.

We expect the founders and others to reap the benefits of Pi Cryptocurrency Network in a meaningful way.

  • The app is currently being used by users to add value, but not for tangible (except perhaps psychological) benefits.
    • It does not offer any other utility than messaging and in-app messaging. Users keep the app in hopes that one day they can convert their virtual coins into real value.
    • The app functions as a direct-selling or affiliate market system. Users can expect future rewards for bringing new users to the app. Users may spend more time and effort to attract users. For example, many users add their codes to this article. It is similar to Multi-Level Marketing, as it includes direct sales and offers greater potential benefits for early users (i.e. Although earlier users may mine at a higher rate, affiliates or direct selling might be better.
    • The app is being used by many people. Many people have posted online that Pi Cryptocurrency Network is not a fraud because they don’t pay any money. These users value their time and data and are spending it on the app. Read more about the privacy policies, data collection, permissions, and 3rd-party software used in the app.
  • We believe it is unlikely that the app will create future value, contrary to its claims.
    • The app has very little value. The app does not create any value beyond the user’s information, view ads and messaging other users. These activities are unlikely to create significant wealth for the large user base.
  • Scams are another way to use some of the current practices.
    • The app is already helping founders. To monetize active users, they launched optional video ads. You can also use the app to collect passport information through a KYC process. Advertising revenues would be increased if there was a KYC process to verify the audience. While we don’t oppose ad-funded businesses, we also support such businesses. We provide insight and our audience sees ads on our pages. Businesses that plan to launch additional features, such as. However, when businesses are expected to launch additional features (e.g. launch coin on exchanges), or start monetizing their audience it can lead to conflicts of interest.
    • Their marketing emphasizes their academic credentials. Similar to their scam, OneCoin, a cryptocurrency without blockchain infrastructure, used the McKinsey experience as its founder’s marketing.

These are the same things that Pi Cryptocurrency Network members have shared with me. I am often told that I don’t get cryptos. To be clear, I have been investing since 2017 in cryptos and am currently reviewing the latest developments in the crypto space. Here are some recommendations for crypto exchanges.

What is the Pi Cryptocurrency Network?

It’s an app that allows users to share their experiences with others.

  • To get digital currency, log in every day and click a link. They simply log in and click a button to get digital currency. There is no evidence that work was done. This currency cannot be traded and is therefore currently worthless.
  • Become more popular by inviting others to join the platform. They can then gain more digital currency each day. This model is common in Pyramid schemes and Multi-level marketing.

Is Pi Networks’ currency likely to be worth more in the future?

Yes. This evidence-based analysis shows that PI Networks at least tries to create something of value.

  • The whitepaper they published is a high-level document that outlines their ambitions, but does not provide any technical details about how the Pi Stack would work. Their goal is to encourage others to build apps on the PI network in order to get the benefit of PI network users’ attention. This brought back memories of the pay-to-surf model of the dot.com boom, where software was installed on users’ devices by companies that acted as intermediaries between advertisers and users without providing any significant benefit.
  • They are working to create a developer community that can build apps on the platform, which will add value to their platform. It will be difficult for them to attract third-party apps on the platform, given the cost of developer time and current testing status of the Pi Network. They are however clearly trying to make it happen by hosting a hackathon, and releasing a Software Development Kit for third-party applications that can initiate Pi coin transactions. Hackathon winners include apps such as an e-commerce shop and a marketplace that matches freelancers with tasks. Once the mainnet launches, these apps will begin to produce value. The success of the project will be measured by the price of Pi as well as the metrics generated by these apps.
  • They claim that they ran a pilot in 2020 to allow people to trade goods and services with Pi. They could have listed their coins on an exchange, as has been done by companies such as electroneum. Pi users claim that the Pi team’s decision to fork the open-source Stellar blockchain to build their implementation is a costly mistake. We won’t know the outcome of the mainnet until we see it. The whitepaper does not provide any details about the criteria for the launch of the mainnet. Once the community is satisfied with the mainnet’s performance and enough testing has been done, it will be launched.
  • According to their Linkedin Page As of 2021, they had 70 employees. Many of those who claim to work there are app users with titles such as “Cryptocurrency Trader”. Although we haven’t looked at every profile, it seems like there is a group of people who are working to build something there. This could be the next version or the blockchain network. It is difficult to verify outside of the company. We can only see the following:
    • They have launched a version test of their blockchain
    • Users claim to have shared their code on Github
  • Stanford was the school where its founders studied and worked. Although this is a great thing, many people don’t realize that Warren Buffet, Jeff Bezos and many other business founders were educated by reputable universities (e.g. These examples are from the Ivy League universities. These facts are rarely used by their companies. Our observations show that business success is a far better predictor of success than academic credentials. Successful companies are more likely to talk about their business success than their founders’ academic credentials.
  • They have seen significant growth. They have over 250k reviews and a high rating on Google Store Store. Models similar to MLM are more likely to see rapid growth.

Is Pi Cryptocurrency Network a way to make it rich?

Unlikely. We are not sure why they haven’t launched the blockchain and exchange. These are trivial engineering tasks. Two theories are available:

  • They might be waiting for their user base to grow enough to generate revenue for them. We are skeptical that large advertisers would show ads on a network where users log in to see ads and make money. This idea isn’t new. These websites have been around since the dawn of the internet. None of these websites were adopted by mass audiences. Advertisers find it more profitable to place ads on websites that are frequently used, as they offer some value to users (e.g. information, connecting with friends, etc. ).
  • Jennifer Vanessa Kaiser and other commentators have pointed out that the founders may be worried about the selling frenzy once the coin has been listed on an exchange. If the coin was not worth enough, people would stop clicking on it. Real value is more motivating than dreams.