Mobile Miners

Mobile "mining" Apps are starting to swarm

By The Otaku Investor | Zesshi | 23 Jan 2021


I've been into Pi Network since the first month of its release. It's quick, easy and everybody with a mobile phone can take part in it. But yet recently more and more Apps seem to pop up in my recommendations that look like a carbon copy of Pi Network. Examples include, Bee Network, Phoneum Cloud miner, TimeStope and many more.

The Method is simple, you sign up (with a referrer otherwise you can't access the app) and then press a button every 24h. The more people you invite the bigger your hourly earnings will be. And that's the magic. Of course there are more features like "security circle" where you verify people to take part in your team and earn even more or Node mining. You steadily mine at set rate and every milestone (usually 1M, 10M, 50M, etc users) the rate will be halved. 

Now the market for those kind of Apps seems to be thriving. Pi Network has over +10M users since the start of December with their Mainnet currently in development. Bee Network started around the time Pi Network hit its 10M milestone and can boast +800k Users today. Clearly people are interested in farming tokens with the press of a button. The method itself could be a total bust. To this day not a single one of those Networks has generated value (expect phoneum which is an already tradable TRC20 Token) since the tokens itself don't have a value yet.

It's understandable why people do it. You have to download an app and press a button every 24h. What could you loose? Disregarding the 5sec a day it takes to open the app, there is a security risk for your phone. Of course. Taking a quick google search about any of these, dare I call them "miner apps", shows you a very split view of "Is it a scam or real". It makes sence why people tend to be wary. A lot of tokens promise the world and shortly after disappear. You might not loose money on these apps but you could loose your personal data.

What could you gain though? Well that depends on if the coins ever get a mainnet and can be transfered out, traded, exchanged etc. We currently don't know if these kinds of tokens could even survive. They might very well explode though and become (don't hate me for this statement it's meant to be an analogy) the next "bitcoin" of mobile.

If you are interested in checking these apps out feel free to use my referrer code.

Pi Network (code: zesshiz)

Website / App / WhitePaper

Bee Network (code: zesshi)

Website / App / WhitePaper

TimeStope (code: zesshi)

Website / App / WhitePaper

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The Otaku Investor
The Otaku Investor

Fullstack Webdeveloper with his roots in DevOps Engineering.


Zesshi
Zesshi

Fullstack Web-Developer with DevOps Engineer Roots. I like underground / new cryptocurrencies and invest mostly in sub $0.10 coins.

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