Pi Network Cryptocurrency - Worth a shot?

RaggyDays

deegs wrote: »

Deleted this app and others like bee and timestop reckon if the app is using adverts and firing interaction it's a scam....

The adverts is a means of revenue before the mainnet goes live. It was supported by most of the PI community, the option is there not to see the ads if you want.
It was that or release the mainnet before it was ready. They want the blockchain to be very usable, and not some hodling coin like others.
Hold tough its costing you nothing, when it goes live it will have the biggest user-base of the Cryptoworld by a clear mile. Unlike Bitcoin which is 80%+ owned by Chinese miners or other Crypto's which favour early adopters PI is giving a fair chance to everyone to get involved.

starWave

There is no main net. It's a scam to show you ads.

stooge

I was worried once I saw ads coming up also but in fairness there is a need to cover cost and an option to turn off the ads (albeit only for 2weeks at a time).
giving this a chance for now, but will monitor closely on progression and dev.

AlphaOmega1

There’s a similar Coin called Bee. I think they copied the idea from Pi.

If anyone wants to join it you can use my ref: colinoneill

I’ve accumulated 700 so far, pretty proud of myself, might be worth a euro one day lol

seannash

I think these are all just ad revenue generators for the creators. Nobody is "mining" anything.
Id say this and bee wont amount to anything.
Of you are going to go to the bother of logging into an app everyday you might aswell sign up to coin app and generate coins towards buying xyo tokens. They have a use case and can be traded in for fiat at some stage.

AlphaOmega1

seannash wrote: »

I think these are all just ad revenue generators for the creators. Nobody is "mining" anything.
Id say this and bee wont amount to anything.
Of you are going to go to the bother of logging into an app everyday you might aswell sign up to coin app and generate coins towards buying xyo tokens. They have a use case and can be traded in for fiat at some stage.

There’s no ads on iOS for Bee. So what’s their revenue source on iPhones?

seannash

AlphaOmega1 wrote: »

There’s no ads on iOS for Bee. So what’s their revenue source on iPhones?

Pi had no adverts in the begining either. It may come or they may just focus on android users. Perhaps they are waiting for a certain amount of iOS users before launching adverts.
They know that if they let people build up a certain amount of coins they are more invested and less likely to stop gathering coins even if they turn on adverts.

Finn 20

How do I pi network verification code ?

pioneerpro

Seriously, see the other Pi thread. This is a terribly thought out scam.

* The coins are premined
* You're not 'mining' anything, although someone is mining your information
* The codebase is an old fork of a much older and reputable coin (XLM)
* They promise that they keep tabs on everything and will totally give you your magic beans in the future, pinky promise, but have no roadmap or guarantee of anything regarding withdrawal capabilities, listing or anything else.
* You don't own anything, you won't own anything, and their 'referral' structure is a classic pyramid scheme
* You've all just installed an app with significant permissions and monetisable ads on your phone

Anything else I've missed?

Daithi40

pioneerpro wrote: »

Seriously, see the other Pi thread. This is a terribly thought out scam.

* The coins are premined
* You're not 'mining' anything, although someone is mining your information
* The codebase is an old fork of a much older and reputable coin (XLM)
* They promise that they keep tabs on everything and will totally give you your magic beans in the future, pinky promise, but have no roadmap or guarantee of anything regarding withdrawal capabilities, listing or anything else.
* You don't own anything, you won't own anything, and their 'referral' structure is a classic pyramid scheme
* You've all just installed an app with significant permissions and monetisable ads on your phone

Anything else I've missed?

nope that covers it


I'll still hold my 2k tokens just in case tho

frankyboy1986

Joined a few weeks ago and looking to increase my security circle if anyone I tested please pm me

Also anyone new looking to join feel free to use me as a referral @marlonmarto

Grumpypants

Even if it was a scam at the start. They would be daft not to launch a coin with 14 million active users.

Apparently there is a back alley market for these coins and they go for up to $10.

pioneerpro

Grumpypants wrote: »

Apparently there is a back alley market for these coins and they go for up to $10.

Citation needed.

Grumpypants

Grumpypants wrote: »

Even if it was a scam at the start. They would be daft not to launch a coin with 14 million active users.

Apparently there is a back alley market for these coins and they go for up to $10.

Strange, how do you send them?

lintdrummer

pioneerpro wrote: »

Citation needed.

They're actually trading for a notional value of $100 per coin.
There is a discord group with vendors who support the coin. If you buy something with Pi from a vendor you are then prohibited from making any other purchase using the token until you reciprocate by accepting Pi for a transaction.
If you don't have anything to sell, they have a list of things users want, eg. links to Amazon products and a user saying "I want this". So you can buy something for a user using your own FIAT and you accept payment from the user in Pi.

It's all explained well in this video.

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

Whelo79

Wow, big AVOID for me.

That's like me saying I have this bag of stones, I value each stone at $100 and if you want a stone you have to sell me something for it up to a FIAT value of $100. You've already given loads of people their own stones for free so now everyone thinks their stone is also worth $100.

I can't see anybody other than current Pi holders wanting anything to do with the token. There will be a lot of people left out of pocket here if they get caught up on trading this.

lintdrummer

lintdrummer wrote: »

They're actually trading for a notional value of $100 per coin.
There is a discord group with vendors who support the coin. If you buy something with Pi from a vendor you are then prohibited from making any other purchase using the token until you reciprocate by accepting Pi for a transaction.
If you don't have anything to sell, they have a list of things users want, eg. links to Amazon products and a user saying "I want this". So you can buy something for a user using your own FIAT and you accept payment from the user in Pi.

It's all explained well in this video.

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

That is dangerously stupid.

KilOit

lintdrummer wrote: »

They're actually trading for a notional value of $100 per coin.
There is a discord group with vendors who support the coin. If you buy something with Pi from a vendor you are then prohibited from making any other purchase using the token until you reciprocate by accepting Pi for a transaction.
If you don't have anything to sell, they have a list of things users want, eg. links to Amazon products and a user saying "I want this". So you can buy something for a user using your own FIATand you accept payment from the user in Pi.

It's all explained well in this video.

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

MASSIVE RISK! avoid at all cost, i have pi but going to go on a limb and say it's completely worthless, sorry i even gave that youtuber a view, looks like a complete shiller of PI and BEE and other worthless tokens.
Yes it may be worth money some day but i would never pay for for or trade it for real crypto

lintdrummer

I haven't traded it myself, I'm just sitting on the sidelines waiting for it to hit an exchange at some stage. But there is a fairly large number of people with faith in it who are trading it regardless of how stupid that is.
Remember, they are accepting Pi for payment, but are also able to use it for payment so it's not a one way street.

lintdrummer

lintdrummer wrote: »

I haven't traded it myself, I'm just sitting on the sidelines waiting for it to hit an exchange at some stage. But there is a fairly large number of people with faith in it who are trading it regardless of how stupid that is.
Remember, they are accepting Pi for payment, but are also able to use it for payment so it's not a one way street.

It will never hit the exchange btw. I couldn't watch that video but did he say you have to pay a fee to be part of this pi payment crap?

Grumpypants

It is totally worthless. They say that in the FAQ.

If it does get to the mainnet then there is already 14million people that know about it, have it and can actively start using it.

In the other hand it could just be a clever way to harvest data and show ads.

pioneerpro

Grumpypants wrote: »

In the other hand it could just be a clever way to harvest data and show ads.

This. This is the only credible point.

This notion that it's worth *anything* atm is just bogus; least of all a 'notional' value of anything for a coin no one even holds! It's a Ponzi Scheme/IOU scam with extra steps.

Grumpypants

pioneerpro wrote: »

This. This is the only credible point.

This notion that it's worth *anything* atm is just bogus; least of all a 'notional' value of anything for a coin no one even holds! It's a Ponzi Scheme/IOU scam with extra steps.

The fact that it holds no value and won't for a long time gives me more confidence. The sheer volume of coins that sold the coin on a promise without any use case in the last ICO bubble was astronomical.

With this they are building the community, building the use case and if it gets to the point where it is working then it will become worth something.

We live in a world where a literal meme coin with no use exists and is making people millionaires.

pioneerpro

Grumpypants wrote: »

We live in a world where a literal meme coin with no use exists and is making people millionaires.

Presume you're referring to Dogecoin. This is a complete dogwhistle argument as Doge is:

- Pegged to fiat
- Has public consensus as a value store
- Mineable (without a cap so it inflates)
- Listed on almost every exchange in existence
- Ownable and transferable
- Readily accepted in a wide variety of retail and service transactions online and offline

The fact that it holds no value and won't for a long time gives me more confidence. The sheer volume of coins that sold the coin on a promise without any use case in the last ICO bubble was astronomical.

Good for you. Find me another crypto that wasn't listed on any exchange and where no one actually held the underlying token. It's a null argument as Pi isn't an 'ICO' as there's no fiat or exchangeable component as, and I stress this again, nobody but the network owners hold any.

With this they are building the community, building the use case and if it gets to the point where it is working then it will become worth something.

What use-case? What milestone? Even in some future fantasy whereby it was suddenly worth something and exchangeable for Fiat or other crypto, nobody but the network owners hold any.

Grumpypants

Another step closer.

The test Pi wallet is available on desktop, the mobile app is being reviewed by Google and Apple before it goes live in a few days.

It runs on the testnet and is just there for testing the transactions, the test Pi you get are not real.

Once the mainnet comes online you will be able to add your mined Pi to the wallet and start using it.

Mainnet is still set for the end of this year.

And they crossed 15 million active users so once it does go live it wil already have a big user base.

So 5 million trillion PI coins then?

Grumpypants

I'm Posting this from the Pi browser !!

Mobile wallet is up and running too. 100 test Pi granted to test it out.

Rolling into phase 3 mainnet by the end of the year.

Chuckie_Egg

Grumpypants wrote: »

I'm Posting this from the Pi browser !!

Mobile wallet is up and running too. 100 test Pi granted to test it out.

Rolling into phase 3 mainnet by the end of the year.

Transfers on the testnet are instant, very impressive.
Anyone here running a full node from the cloud like on a AWS?

914

Just got the wallet anyone wanna send of receive test pi and I see how rapid it is. My address is

GB5XYXNQOZM5CCU32SSIAD55WMM3CYTCSBCILVH2I4ILEXTVXTO5DZ74

Unknown Soldier

Chuckie_Egg wrote: »

Transfers on the testnet are instant, very impressive.
Anyone here running a full node from the cloud like on a AWS?

Nothing to add, but your user name brought back many good memories.

Grumpypants

914 wrote: »

Just got the wallet anyone wanna send of receive test pi and I see how rapid it is. My address is

GB5XYXNQOZM5CCU32SSIAD55WMM3CYTCSBCILVH2I4ILEXTVXTO5DZ74

10 sent at 8:02pm

914

Grumpypants wrote: »

10 sent at 8:02pm

That was rapid, had it straight away

Just sent back then 8.20am, easy to copy your address from the history

Grumpypants

914 wrote: »

That was rapid, had it straight away

Just sent back then 8.20am, easy to copy your address from the history

Got them at 8.20 as well. It is a test so likely low volume. But when you see established wallets taking hours to deliver this is very welcome.

Beleg Cuthalion

If anyone needs a code you can use Ciaran32

gabeguevara

Far from being scam pi cryptocurrency is the new deal in town with over 35 million subscribers in over 175 countries. Don't miss out - just launched into its enclosed mainnet - referal code = Bigtoff

gabeguevara

With Over 50 million downloads - don't miss out like I did with Bitcoin.

referal code = Bigtoff

karankhurana

I am new to this pi network and crypto. Looking for trusted people for my security circle. Also my referral is karankhurana96.

Grumpypants

It's been a long road but those that stuck with Pi will see it release on mainnet on the 20th of Feb.

I've no idea if it will be worth anything. Not holding out much hope.

pacman114

Has anyone successfully recovered a lost account? Mined some coins years ago but cannot login and the forgot password system doesn’t seem to work!

KilOit

https://www.boards.ie/discussion/comment/123200875#Comment_123200875

attached to phone number no? think you can just recover it and send a sms to the number again.

just migrated mine today, few k's

I'd say a massive proportion of the supply is lost or forgotten about

pacman114

Yeah tried that…you send a text to a number but it never completes. Looking on Reddit a lot of people have the same issue! Pretty annoying that it’s now worth something!!

Grumpypants

€1.50 a Pi coin is good. I'm sickened to see 60% of my coins stuck in the untransferable section as so many people dropped out.

KilOit

https://www.boards.ie/discussion/comment/123203910#Comment_123203910

never sent any text. just activated my wifes pi account that hasn't been used in 6 years. logged in with phone number then asks for a pin

BigAl81

Hum, interesting, just logged in there for the first time in years and I've 160 transferable pies apparently.

Does that mean I've made 200 quid in free money !?!

AlmightyCushion

https://www.boards.ie/discussion/comment/123204315#Comment_123204315

Same. All three of mine aren't active so missing out on loads. Is there any benefit to adding more people now. Does it increase the mining rate much?

Grumpypants

I think it does help but mining rates are so bad now it's hardly worth it. At least if you turn off the ads in settings (it lasts two weeks) you don't get bombarded with those every day.

Sierra Oscar

Ended up with just shy of 3,000 Pi following mainnet migration. I've a large chunk of untransferable with a few of my network dropping out long ago. Was on to a few of them and they are indifferent, oh well!

0ph0rce0

https://www.boards.ie/discussion/comment/123212684#Comment_123212684

Can you sell it yet or what. Over 7 Grand for doing **** all. Nothing wrong with that if you can.

Sierra Oscar

https://www.boards.ie/discussion/comment/123214908#Comment_123214908

It's on a few exchanges but not the likes of Coinbase or Binance yet. There's a lot of speculation that Binance will list is soon.

snowstreams

I gave up on this 3-4 years ago. But I still kept my old phone and was Able to reactivate my old account.
Ive 1400 but half are locked up too.
I got a referral from here but I see my referral called livemuse is inactive now too.
sold half (350) for 2.60€ each yesterday evening which is my best ever airdrop by a long shot.