PI network, a big scam !

PI network, a big scam !

By yanis | little crypto guides | 16 Sep 2020


PI network is a "cryptocurrency" that allows us to "mine" with our mobile, but, what is it really ? I think this introducing is already too long, so... let's go and see its problems !

 

1 - Nothing ready

The problem of PI is that they still doesn't have any blockchain, so we aren't able to make WDs. It's also because of I used many quotation marks within the introduction (all is fake, at least for now). 

 

2 - Mandatory referral

On PI, we should be referred by someone for using the app (if you want to try by urself, feel free of using mine - piaya). The referral program made this project viral, so it became widely known, but it also gave it a ponzi reputation because of refs are often used within ponzi schemes.

All these refs are used for making a "security circle", and more people there's within, more we earn. 

 

3 - Where's the team ?

We only know that PI was made by Stanford University phds, but not much things else. Some people talked about a social experiment made by researchers, probably about referral programs, but we doesn't see anything about devs, debuggers or smth else. 

 

4 - KYC slots

The projects now wants to get more than prone numbers (and FB accounts...). They now want to use KYC for their project (doesn't a cryptocurrency have to be trustless ?).

 

5 - That's all I had to say

I don't have anything to say about this project. If you want to do your own researches, feel free of installing the app (and using my ref piaya xD)

Btw, I hope that you liked this article.

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And if you see anything to add or improve, feel free of saying it within the comments



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