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Pi Network Cryptocurrency - Worth a shot?

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2

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    #32
    starWave
    Registered Users Posts: 391 ✭✭starWave


    ChuckieEgg wrote: »
    Nothing would surprise me in the Crypto world. I think the main red flag for me is the lack of a Blockchain!!


    Most likely there never will be a blockchain. If you look at the people behind this, they are researching social networks and virality. It's just a big experiment for them and the PI coins will never have any value. The number of users is probably overestimated and part of the hype of a 'viral network'. Its been going on for months now, and they haven't produced anything.

    Who knows what data they are harvesting off your phone. Imagine how much money they will make if you watch an ad every day to 'mine' these fictional crypto coins.

    Even if it emerges that there never will be a blockchain, the ramp down of the network is of interest to them as research, so they are getting what the data they need in both directions.


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    #33
    0ph0rce0
    Registered Users Posts: 3,917 ✭✭✭0ph0rce0


    If anyone wants to add to their security circle give us a PM. I can give you my number or vice versa and then just delete you/me from the phone when added.


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    #34
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭ChuckieEgg


    starWave wrote: »
    Most likely there never will be a blockchain. If you look at the people behind this, they are researching social networks and virality. It's just a big experiment for them and the PI coins will never have any value. The number of users is probably overestimated and part of the hype of a 'viral network'. Its been going on for months now, and they haven't produced anything.

    Who knows what data they are harvesting off your phone. Imagine how much money they will make if you watch an ad every day to 'mine' these fictional crypto coins.

    Even if it emerges that there never will be a blockchain, the ramp down of the network is of interest to them as research, so they are getting what the data they need in both directions.

    idk, there was 17000 people looked to take part in the upcoming convention, which seems to be a virtual online event.
    I do think they are unsure of what direction to take the network. I also think that these mined PI will not be the final coin. They will probably award X amount on some new Blockchain launch.
    I only briefly skimmed over the SDK, there isn't much meat to it. From what I can gather it allows you to run a javascript app within an Iframe in the app. Quiet a simple technology which could back up what you are saying with regards to it being a scam. If it is then it is a pity because at the very least this proves that there is a huge appetite out there for a new fairly distributed usable blockchain.
    It's costing me nothing at the moment so I'll wait and see.


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    #35
    starWave
    Registered Users Posts: 391 ✭✭starWave


    https://hci.stanford.edu/nicolas/

    Nicolas Kokkalis, is a Postdoctoral Scholar in Computer Science at Stanford University where he does research in Social Computing
    Dr. Kokkalis has expertise in designing viral social applications, with apps attracting over 20 million users having exceptional engagement and retention rates, that received the Facebook Fund award in 2009.

    There are hundreds of other actual cryptocurrencies out there that are real and have value, and you have a good probability of making a profitable investment. PI has all the red flags of a viral social application, and no sign of a blockchain. Or for free crypto, you can download the brave browser, which will block all the normal ads, and you can choose how many ads you want to see and get paid in BAT (Basic Attention Token) for watching them.


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    #36
    irish_goat
    Moderators, Recreation & Hobbies Moderators Posts: 5,760 Mod ✭✭✭✭irish_goat


    Notification today that there are now 8 million users and mining rates will halve or fall to zero when they hit 10 million. As someone else said, its not causing any hassle sitting on my phone at the minute so I'm happy to see what comes of it.

    Irishgoat is my referral if anyone in while there's a bit of mining left anyway.


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    #37
    starWave
    Registered Users Posts: 391 ✭✭starWave


    There's an interesting documentary on Netflix (The Social Dilemma) how Facebook and Google are using our data to sell ads, and its scary how advanced their algorithms are. The documentaryis not directly related to this, but they mention that all of the founders of these tech companies have done a tech persuasion module in Stanford. This app looks like it has some basis in tech persuasion. The founders are researchers in viral applications.


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    #38
    ChuckieEgg
    Banned (with Prison Access) Posts: 79 ✭✭ChuckieEgg


    Things are starting to move on. I got asked to do KYC (know your customer).
    Went through the process which is basically a third party ID verification app YOTI.
    One downer but understandable is if you are using a rooted phone then the YOTI app will not be allowed on your phone.


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    #39
    Kickstart1.3
    Banned (with Prison Access) Posts: 186 ✭✭Kickstart1.3


    Pi convention today. You can view from the home page in the App
    5 sessions in total October 15th-29th
    Should be interesting to see if this is going to take off, and in what direction Pioneers want to take the network


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    #40
    RaggyDays
    Registered Users Posts: 249 ✭✭RaggyDays


    Over 10 million Pi users, talks of a wallet being rolled out soon


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    #41
    starWave
    Registered Users Posts: 391 ✭✭starWave


    RaggyDays wrote: »
    Over 10 million Pi users, talks of a wallet being rolled out soon

    how much has the price increased?


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    #42
    Yester
    Registered Users Posts: 1,496 ✭✭✭Yester


    starWave wrote: »
    how much has the price increased?

    It has doubled in value.


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    #43
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    From zero to zero?

    That's also an ∞x.

    Pi to tha mooooon.


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    #44
    rco2000
    Registered Users Posts: 401 ✭✭rco2000


    Hi folks, just registering and need an invitation code from a referral. Can somebody please provide me with one?
    Thanks in advance


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    #45
    rco2000
    Registered Users Posts: 401 ✭✭rco2000


    Hi folks, just registering and need an invitation code from a referral. Can somebody please provide me with one?
    Thanks in advance

    Got a code, thanks


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    #46
    irishgeo
    Registered Users Posts: 9,369 ✭✭✭irishgeo


    Just signed up mayokev is my referral


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    #47
    RaggyDays
    Registered Users Posts: 249 ✭✭RaggyDays




    Good update from Bitcoin for Beginners


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    #48
    stooge
    Registered Users Posts: 1,395 ✭✭✭stooge


    irishgeo wrote: »
    Just signed up mayokev is my referral

    signed up also. stoogeire is my referral for anyone else joining


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    #49
    duefrine
    Registered Users Posts: 480 ✭✭duefrine


    Looks interesting

    Just signed up myself

    If anyone is interested in joining, you can use. andyduefrine .as an invite ..


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    #50
    Robxxx7
    Registered Users Posts: 1,236 ✭✭✭Robxxx7


    Gave it a go .. anyone can use Robxxx7 as a referral


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    #51
    deegs
    Registered Users Posts: 1,268 ✭✭✭deegs


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


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    #52
    RaggyDays
    Registered Users Posts: 249 ✭✭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.


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    #53
    starWave
    Registered Users Posts: 391 ✭✭starWave


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


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    #54
    stooge
    Registered Users Posts: 1,395 ✭✭✭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.


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    #55
    AlphaOmega1
    Registered Users Posts: 53 ✭✭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


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    #56
    seannash
    Registered Users Posts: 5,672 ✭✭✭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.


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    #57
    AlphaOmega1
    Registered Users Posts: 53 ✭✭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?


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    #58
    seannash
    Registered Users Posts: 5,672 ✭✭✭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.


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    #59
    Finn 20
    Registered Users Posts: 5 ✭Finn 20


    How do I pi network verification code ?


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    #60
    pioneerpro
    Registered Users Posts: 598 ✭✭✭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?


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    #61
    Daithi40
    Registered Users Posts: 177 ✭✭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 :D


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