Pi Network: Scam? MLM? Pyramid Scheme? Next Bitcoin?

Hi There,

There is a tiny chance that by now, you have never heard of Bitcoin. If not, do a quick wikipedia search and come back here. I will carry on with the premise you know what the Bitcoin is and also assume that you did not manage to amass it while it was still possible for a normal salaried person. I miss not being able to grab that opportunity.

So, just like I did with rushing with the NFT opportunity, I was elated when a friend invited me to the Pi Network.

Now, the Pi network is currently in a nascent stage, beta stage, if you may call it, where the pioneers mine the coin (Pi Coin) on their mobile phones using their mobile app. Recently they launched a non custodian wallet too and gave us 100 test pi coins to test out, which works just fine. The core team does plan to launch the mainnet and the coin into the public exchange by the end of 2021, a time when the coins will have some real value in terms of fiat currency. Till then, honestly it is still make believe.

What strikes strange, is the way the network is being marketed, where one has to be invited to be able to join the network and then as he/she adds more people to the network, the speed of mining increases. It sounds absolutely like a multi level marketing scam, except there is no money involved. There is an app which you must download and run. The app has a tiny battery footprint, uses minimum data, does not ask for permissions of storage, location, phone or messages. It asks for contacts permission for inviting others, which can be denied without affecting the functioning of the app. For mining to happen, the user must register and put in an attendance, once every 24 hours, maybe watch 1 or 2 ads and that’s it.

This has every smell of a scam and my brain says that it is, but the heart says, what if the the core members are not scamming us after all? What if this explodes like the bitcoin? Didn’t you hear stories where the early adopters of Bitcoins were called loons and fools? What is the risk anyway? There is no money involved and we provide our life’s data to google and facebook anyway to be used as a product, so what’s the harm?

For me, as long as there is no actual money from my pocket is on the line, I am a 100% ready to try out a new product. If, down the line they ask us for money, hard real money, then shall I decide, whether I want to continue or not.

Till then, I shall keep mining this coin.

Since you cannot join the network without an invite, you can use my code after you sign up : novemberking91

You can go to this link too : https://minepi.com/novemberking91

I wish that you take this leap of faith and that our collective leaps are rewarded. Its not completely wishful thinking though, there are multiple websites and pages which are coming up discussing about this new coin, Pi. Do check them out and do decide, just do remember, in case this hits the market good, and the values go up high, on 28th of April 2021, you had been shown the possibility of it, yet again!

This post is in no way containing all the data that is to be known about the coin, but it tries to get you, dear reader to have an interest in the matter. I hope I was able to do it.

Good luck to all of us.

Cheers!!


The photo of the Pi coin is not mine. I took the photo from this link and have added the texts on it.

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