What is the credibility of the Pi network?

[Captain Karim 0]

On 6/19/2020 at 8:37 AM, betelihem said:

Yeah i am mining this pi network token, but its cloud mining so its not using our drivers energy so its okay, but the problem is i can't verify my phone number what can i do please.

My friend, most experts in the field of mining say that it is not possible to mine cryptocurrencies by mobile.
Therefore I advise you to delete the application because it may be harmful to your mobile..

[betelihem 4766]

8 hours ago, Captain Karim said:

My friend, most experts in the field of mining say that it is not possible to mine cryptocurrencies by mobile.
Therefore I advise you to delete the application because it may be harmful to your mobile..

NO its not a mining thing, its cloud mining, like other cloud mining sites, it doesn't use any power of my phone it only needs to activate every day and it will mine for itself, i see some reviews about it, and the token already have price on coinsmarket, and thank you so much for your idea, its good thing to tell every one what you know tnx again.

[Captain Karim 0]

18 hours ago, betelihem said:

NO its not a mining thing, its cloud mining, like other cloud mining sites, it doesn't use any power of my phone it only needs to activate every day and it will mine for itself, i see some reviews about it, and the token already have price on coinsmarket, and thank you so much for your idea, its good thing to tell every one what you know tnx again.

My friend, thank you for your comment, but I really don't understand how cloud mining is done for this currency.
But doesn't cloud mining need servers to work?

On 6/19/2020 at 3:42 PM, luanorte said:

After 8 years trading cryptocurrency and having done Sha256 and GPU mining, people don't really mine PI. Phones don't have the hashing power to mine coins. What happens with PI is that pioneers are connected to the network and get rewarded for it. The blockchain will be maintained by nodes. With 150k people already connected to the network through docker and 4m pioneers, I can easily say that PI has great potential. It is trading in Hong Kong as IOU at $0.33. Therefore, having a huge community (4m), having IOU USD volume of $2.5m per day on FUBT and two Stanford professors leading the project, I am personally confident this project can go places. I am 'mining' and connected to the nodes network with my PC.   

I totally agree with you on these words.
Because mining requires computers with high specifications and needs an internet network continuously.

[Whited35 15285]

On 6/3/2020 at 3:08 PM, BTC Future said:

You can mine this coin from your mobile. How much can you earn since it isn't traded at any exchange? Also I remember looking into them a few months ago and there was nothing at all. No whitepaper, no roadmap some team behind that I'm not totally sure of, no backing, basically nothing.

@BTC FutureI think you have visited their site during a launch. If you visit is once again, you might find everything related  Pi Network like whitepaper, Team's information etc. It is genuinely established project with a genuine team. 

[BTC Future 3946]

3 hours ago, Whited35 said:

@BTC FutureI think you have visited their site during a launch. If you visit is once again, you might find everything related  Pi Network like whitepaper, Team's information etc. It is genuinely established project with a genuine team. 

Thanks I will try them again @Whited35. That's what I like to see. I remember they had a few profiles of the main devs in the past and one was a professor in a University, or something similar. Correct me if I'm wrong. I will pay them a visit and perhaps I'm going to check their mining as well.

[Whited35 15285]

8 hours ago, BTC Future said:

Thanks I will try them again @Whited35. That's what I like to see. I remember they had a few profiles of the main devs in the past and one was a professor in a University, or something similar. Correct me if I'm wrong. I will pay them a visit and perhaps I'm going to check their mining as well.

@BTC Future After creating a separate topic for this app, I used search feature on this forum to detect if something repeated or not. At the end, I landed in this discussions thread. Well, you are not completely wrong here. There are Stanford graduates behind this project. I have read their whole whitepaper. I hope you might surely love to read this topic 😉

 

[Ridam 7455]

Well basically pi doesn't uses your Mobile cpu or gpu for mining it's like they are distributing the coins and the reward is given according to the referal network. And personally i am also using this application to mine pi and as we have to do nothing, just keep app installed on phone. If the project goes wrong (probably not happening) then too we don't loose anything.

[Captain Karim 0]

7 hours ago, Whited35 said:

@BTC Future After creating a separate topic for this app, I used search feature on this forum to detect if something repeated or not. At the end, I landed in this discussions thread. Well, you are not completely wrong here. There are Stanford graduates behind this project. I have read their whole whitepaper. I hope you might surely love to read this topic 😉

 

My friend, I read the white paper for this project, but they wrote that all accounts in the second stage will be deleted and they will only allow members in the third stage of investing in their currency.
Because they are considered only the second stage of experimentation.
What is your opinion?

[Whited35 15285]

52 minutes ago, Captain Karim said:

My friend, I read the white paper for this project, but they wrote that all accounts in the second stage will be deleted and they will only allow members in the third stage of investing in their currency.
Because they are considered only the second stage of experimentation.
What is your opinion?

@Captain Karim Mate,are you talking about their Pi’s Governance Model - a two-phase plan? Honestly, I have not found such thing in their whitepaper.If you again check their rodamap, under this title "Phase 3 - Mainnet" , they have clearly written,

 "An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored."

Only real members are allowed ! Kindly, highlight some lines from their whitepaper and send back link if possible, I will check that asap. You might also ask your questions inside the app to know authentic answers from officials. 

[Young001 155]

It is hard to say if the the pi project will continue or not, this may turn out to be beneficial to those who steaks to the program. Any thing can happen in the future but I have found out that the minning app does not continue minning if I minimize the application.

[MrSpasybo 1049]

I am also quite interested in the new Pi token mining mechanism of this network: no hardware, no online, only need to confirm once a day to receive Pi. Perhaps Pi is looking for more users to gain widespread acceptance as a form of payment in the future. However, if a token is too easy to mine, it probably won't bring much value.

[Yomose 3704]

On 7/12/2020 at 1:41 PM, MrSpasybo said:

I am also quite interested in the new Pi token mining mechanism of this network: no hardware

You are wrong here, which token have you known required only hardware wallet for PoS?

On 7/12/2020 at 1:41 PM, MrSpasybo said:

no online, only need to confirm once a day to receive Pi.

The process of the daily confirmation makes you go online. 

On 7/12/2020 at 1:41 PM, MrSpasybo said:

Perhaps Pi is looking for more users to gain widespread acceptance as a form of payment in the future.

The users are getting the coin freely now which will make its process drop to the point of becoming useless at the time it will become tradable. 

On 7/12/2020 at 1:41 PM, MrSpasybo said:

However, if a token is too easy to mine, it probably won't bring much value.

You are right about this, but to make it perfect, the token is easy to mine. 

[Tunuu 2235]

I know Pi network. You can mobile those coins in a mobile device very easily and they are safe for our mobiles. I was using that app when i had a good mobile but now i don't use it because i have a mobile with small ram.

[BitcryptoHan 2557]

On 8/11/2020 at 11:48 PM, taylorzed1 said:

As I understand it they have a decentralized currency called Pi Network that you can mine it by cell phone, the problem is that it is not listed on any exchange yet

The fact is that it is not listed on exchanges and could also be a waste of time. It is not a good project anymore until it is listed on exchanges. As for me, it is one of the shitcoins for now until it is listed on exchanges for trading purposes. 

[Nezar 7169]

I have heard a lot about this application and the currency that it is mining, but until this time I have never tried it because it is very bad to mine using a mobile phone, as you mentioned that mining needs devices of great strength and capacity

[Hatred 1388]

On 6/2/2020 at 11:28 PM, Captain Karim said:

This project appeared as is one of the cryptocurrencies that users can mine on their mobile devices.

Link to the official website of the application is: https://minepi.com
But what I know is that cryptocurrency mining needs special hardware with high features.
Have you heard of this coin?

 

Yes, I already heard that coin. My friends are also users of pi network. And they send some proofs that they can use it to buy goods. Actually, here in the Philippines, there's a store that is already accepting pi as a mode of payment. you can use it as trading money. I mean you can use it to trade for foods, clothes, etc...

[Yomose 3704]

On 8/11/2020 at 11:48 PM, taylorzed1 said:

As I understand it they have a decentralized currency called Pi Network that you can mine it by cell phone, the problem is that it is not listed on any exchange yet

I saw it on coincogecko, but on exchanges it is not listed. Also price analyzers like coingecko have many shitcoins, I will not suggest it for any recommendation. As for now, pi is not a project of profit. 

[BitcryptoHan 2557]

3 hours ago, lowty it said:

If it is legitimate it really seems like good news, we all know that it is impossible to mine BTC and ETH by cell phone, maybe this coin has the project focused on that

A coin that is not even legit yet, have you gained anything from the coin before? No. Only when the coin is available on exchanges and can be tradable with other cryptocurrencies, will be when pi is a good legit coin. And let us see the project to be airdrop some kind. After the trading will begin, everybody will want to convert their pi to good cryptocurrencies like bitcoin and ether which will sink its price low to a shit coin type soft project. 

[mahmud93 231]

The project seems like is was no quite long that was released because I have never about the platform before but i can search the its review then if find it impressed i will follow

[Ammara bano 105]

According to my experienced friends, they said that any type of mining is not possible on mobile phones. Because it needs specific devices and specific applications also good internet service, web, and etc oyr Android and smart phones are not designed for such type of mining, so it will damage mobile phones completely. 

So according to my opinion avoid mining  in smart phones. 

 

Stay blessed😊

[Tolualive 116]

Pi network is an upcoming cryptocurrency which is not yet launch but trying to allow people have the cryptocurrency before launched, by mining it daily.The mining has no effect on devices,so its a nice project.

[Irbin 4]

Pi app is very useful and anyone can easily mining bit coin. 

[Waqar Satar 500]

On 6/2/2020 at 9:23 PM, Brick Wall said:

Pi Network, you can mine it on your mobile devices for 24 hours without opening or visiting everyday, just sleep.

I have tried that 2 months ago but I deleted it because they are more on referral system, joining them to mine PI so that they will earn more. There are 3 phases of principles: Phase 1 for design and token distribution, Phase 2 for Test Network, lastly Phase 3 for Main Network -- this is where the value of Pi can be released. Pi Network uses proof-of-work algorithm and it doesn't cost high electricity that's why it's special. By the way my second time posting this 😉

.I hear about it the first time and don't know much about it. You explain it really well. I also don't like to earn by inviting friends because in my point of view, earning by invitation is irritating to most of the people

[Mark wood 2970]

Yes I'm using PI network and only for 1 mint in 24 hours I just open the app and click on start mining but I don't know about other things in that app when trade will start for that I have almost mine 2000+  PI and still I'm mining anyone have the information when will it be start..

[BoGoToL 18]

The controversial coin is first based on a referral program and it is not clear that you are mining just numbers on the screen . The value of the coins and whether they will be traded at all is unknown.many projects died before reaching the exchange. I try not to take any chances.