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Pi Network Review: Scam or Legit Mining App?
February 14, 2020 By // by John 57 Comments
Welcome to my Pi Network review.
Is this another Crypto Currency Ponzi scheme?
Is this the next best thing?
There are so many questions that come with sites that involve anything from the Crypto world and that’s just how it is.
The Bitcoin hype has given everyone so much excitement, anxiety, and most especially heartache.
So if you are wondering if this is something you should invest your time and hard earned money in, you have come to the right place.
This Pi Network review will not only show you the ins and outs of how everything works but also help you make a wiser decision.
I am personally not a fan of hype, so don’t expect me to hype this thing like it’s the best thing since sliced bread.
So before you go even joining the person who introduced this to you, let me show you what you will be getting yourself into.
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Table of Contents
Pi Network Review – Product Overview
Name: Pi Network
Overall Rating: 1./5 stars
After almost at least 6 months after its launch, the Pi Network does not seem to have done anything at all.
Although free to join, there is still no one making money and all that seems to be going on is a bunch of “mining”.
I did have this rated at 2.5/5 stars but I think 6 months is enough time to make things happen. Things look cool and all but there are better things that you can be doing with your time than mining on something that isn’t even allowing you to make any money.
So for those of you bombarding others with your personal affiliate link, save it for a better program that at least pays you for your efforts.
What Exactly is the PI Network?
“Developed by Stanford PHDs, Pi is the first and only digital currency that you can mine on your phone by leveraging your existing social connections.”
The company has created their very own digital currency but there is no mention of who owns or runs anything.
So who those Stanford PHDs are is currently just hype without any proof.
What I can tell you is that the site is ran strictly through its affiliate program, in which affiliates are compensated for getting others to join.
That seemed to be the case but no one is making any money with the Pi Network.
There is no product but the company does offer a service.
By downloading the Pi Network app, you can mine crypto currency on your phone, without draining its battery.
That’s what it claims to be/do but it looks nothing more than a recruiting based program that relies completely on its members.
Recruiting is all that is happening and everyone and their mothers are still sharing their affiliate link, even if they aren’t making any money.
Definitely not something I would recommend as there are way more opportunities out there that you can focus your time on.
How it Works
Pi Network has absolutely no value and is trying to pull off what Bitcoin did back in 2008.
At least that’s what they’re expecting.
Get some hype going, get millions of people to join, all in hopes that the value of Pi will grow to a point that everyone is making money.
Being that it is completely free to join, the money made and value of Pi is all dependent on the volume of members that come into the company and what is spent.
By spending and sharing, using the Pi Network app, the value should increase over time as long as newer members continue to join.
Many companies have made an attempt at this but all we got were Alt coins that are definitely not doing as good as they used to.
Pi Network does not seem to be doing any better with the fact that no actual money is involved.
Will it Work?
There is no telling where this whole idea is headed but of course we always hope that it does great.
I am no psychic but I do see this doing about the same type of numbers that every other Crypto Currency project has done.
It will go up to a certain point but eventually go down once the hype is gone.
Being that it is completely free to join, I don’t see the harm in signing up and seeing where everything goes but again, that does require time.
The good news is that I have not seen any recent wallet type crypto currency programs and I know all the failed crypto marketers are looking for something to join.
Be that source and you can possibly earn some money in return.
Pros & Cons
- Very new company
- Free to join
- Has potential
- No real money involved
- Doesn’t seem to be moving anywhere
- Could be another flop
There is not much information for me to give a real opinion on things just yet, but this is currently what I find to be good and bad of the Pi Network.
So is Pi Network a Scam?
Pi Network is really nothing more than a network marketing gig at the moment.
There is no one that will take your money and only time will tell where everything goes.
It as been quite some time now and I’m about tired of “mining”.
From what I once did daily has now stopped.
I don’t mine anything and I have no interest in it either.
Unless you want to wait around for a miracle, I do not recommend joining the Pi Network
I don’t see the harm in creating a free Pi Network account and I do recommend you do so anyways.
However, I do not think you should sit and wait around for anything because there are many other things you can do with your time.
With all the Crypto Currency peeps that relied on the many Ponzi schemes to make money, you can bet that they are looking for the latest and greatest program to join.
Be upfront with the people you are going to promote the app too and I’m sure they wouldn’t mind joining you.
Now if you are looking for a real way to make money online, you might want to start today.
You can always do some flipping with Ticket Flipping Hub but it does require a nice investment on your part.
It does pay faster than most but it also requires you to invest a good amount of money as well.
For those of you who have no money to your name but still want to make something, Swagbucks is your best bet.
It’s free to join and will pay you for doing simple tasks.
If you are looking to start a blog that’s great too.
There is no better way to make money than through a simple website and a topic of your choice.
For that, you can start with something like Wealthy Affiliate as they have everything you need and it does give you a free trial as well.
I got my start there and I’m sure you will appreciate some personal help and their super active community of members.
That concludes this Pi Network review, so have a great day and don’t forget to tip your waiter.
I hope you enjoyed that post. I’m John and I am the owner of this site. I like to think I’m a normal dude just like everyone else but that wouldn’t make me unique. I do have 4 kids and I have gone through the hardest of times, most especially financially. With some learning and growing, I have managed to get back on my feet and live the laptop lifestyle most people only dream of. With that knowledge, I hope to align you with a real and legit way to make money online.
We welcome anyone.
We are a big group of people and most of us are mining with a rate of 15 pi/h.
Join our team ,using the code : “kingami”
Philip B. Northam
Hi John, it is a shame that you do not understand the concept of the Pi Network and therefore, you shouldn’t be telling people to beware as it cost nothing to find out themselves. The fact is that the Pi network is still in Beta stage and in the 1st year, has over 3.5 million members. Everyone knows there’s no value at this stage. There are three steps to the Pi earning rate for free. You have the choice of getting involved or just being a member – there is no obligation or requirement for anything more than logging on each day! This is a 2nd opportunity that costs nothing to join and earn AND; just like Bitcoin $0 to $15k in 10 years – what will Pi be worth in 10 years – no-one knows but I want to be part of this revolutionary system. I have 600 coins so far which COULD be worth nothing or Millions to my children and grandchildren with no downside! Go to http://www.minepi.com and read the information. Then, if you would like to join Pi, use “PhilBee” as your invitation code and start earning crypto coins for your family’s future. Philip Northam Proud Pi Member earning free coins.
It’s a shame John but can you guys please use “PhilBee” if you want to join? Get out of here with your nonsense Philip. I know enough about Pi, I’m an actual member, and have been for over a year now. Regardless of what I know does not mean that we will be making a single penny from this. Myself and everyone else I know have stopped “mining” and that’s because we really don’t know where this is going. Does all that mining mean I’m going to be rich 10 years from now? Money does not come from the sky Philip and you just have to think realistic and not wishing that some kind of money lands on your lap. And for some weird reason some actual money does come to light, then hey, I’ll be richer than you because I got in way before you did. Don’t question my intelligence Phillip, I’ve been in this business for almost a decade and I’ve followed many programs in my lifetime. I do great With crypto currency in Mirror Trading International, I do affiliate marketing with my blogs, and I have tried many other methods in the time I’ve been online. So trust me Philip, I know what I’m doing and what I’m saying.
We are a big group of people and most of us are mining with a rate of 10 pi/h.
Join our team ,using the code : “told”
We welcome anyone.
Hey Told…is there any real currency being used here?
Ah, an armchair know-it-all. Go you!
Ummmm…who you talking to Kristy?
they are starting the in app transfers. some of the members have been in their KYC (know your customer) and now in have in app transfer.
by the way what can you say about this site https://ecoinofficial.org/
ecoins with 370k members in 10 days and counting.
it has an in app transfer already and you can widraw anytime
That site seems to be doing the same exact thing Pi Network is doing. Get lots of people to join and then hit them with some kind of way to pay. Ecaoin says it best “Our strategy is to acquire billions of users”. They are trying to get lots of people in (free of course) in hopes that they will be the early bird and then hit them with some kind of way to get money from them. I wouldn’t do it if I were you Romel.
Got to be a scam. They are soliciting bitcoin on their Facebook page now. I have a screen shot.
Ahhhh, get millions to join for free and then market something else…that might just be it. Can you share that screenshot Johnny?
Yes, Johnny, please share that screen. I am in the same boat as John. I have been mining now for over 7 months but not holding my breath. The more I asked questions and they do not answer, the more skeptical I become. I have to agree with you John, this is looking more and more like a scam to get people to join, and then hit us with some kind of buying. Hoping that you don’t want to lose your Pis, which if it is not going to be beneficial then I will be more than happy to lose them all.
PS: Have to say, if on the contrary, it ends up working, then I will be making a hefty price tag, lol! Benefits of mining for so long. Have 7Gs and counting.
Me too Carlos! lol. I have stopped mining a while ago but I have been with Pi for over a year now. Mining for free is a lot of work! lol. But, I do hope that something good comes out of this and not some sales pitch to the next best Ponzi scheme. Fingers crossed…
Pi is interesting and will be surprising crypto-world in near future, the beauty is that it engaged poineers, by chat rooms , moderation etc. plus the selected group who are able to use in-app transfer , it encourage others, Pi birthday ( March 14 ) is approaching and we believe some new things like KYC will be opened for members and future road-map will be shared, As the developer has slogan that Pi will be common people money , so by proper marketing and advertising its adoption by mass will really surprise all others, we are not going to spend money , not buying expensive hardware just to download and click the button in 24 hours.
So when will real money be used Irshad?
Sory John but you are acting like some of those people who just joined the Pi Network … “when can I exchange Pi to other currency”, “how much is Pi worth”, “is this a scam”
If you really had this app for 6 months you would know the answer all the questions you are asking, and since you published this article on February 14, 2020 you really should know a lot more.
I joined 2 months ago and know who is behind the project (https://minepi.com/team, https://hci.stanford.edu/nicolas/), what was the value Pi reached in the test phase (4,8$ / Pi by the way)
I’m sorry to tell you but your article seems to be written by an amateur.
Here’s a more relevant article – https://sgclassicalguitar.xyz/minepi-pi-network-cryptocurrency-mining-scam-review/
Oh Adrien, I have had the app for over a year now so please stop acting like you know what you’re talking about. The February 14th date is when I updated this post. Did you make any money? That’s the question we ALL want answers to not who runs the show or what the “value” is. So please amateur, answer that ONE question and not the questions that everyone knows the answers to. Please share your know it all answer to that ONE question Adrian as I’m not here to wait a whole year to see what will happen. I’m not that stupid, buddy.
To join pi network, use reference “tornado”
We are a big group of people. Most are farming with a rate of 5 per hour.
To join our group use the code: “told” . We welcome anyone to our chat
What everyone wants to know Dim is when in the world will REAL money get involved? Are we going to mine like it is some kind of game? I’m sure everyone is starting to get tired of waiting around as it’s been quite a while since Pi Network launched. Do you know what is going on? Is there something to look forward to or is Pi Network going to continue to be a mining game of some sort?
Simple, easy Pi Network mining
I have never dabbled in cryptocurrencies before but I have a good positive feeling about Pi
They don’t ask for money. They don’t want personal information. A simpleton like me can mine in the background even with the app turned off. And you gain coins faster by having people join your circle. I just love the idea of currency that’s not manipulated by anyone. Its owned by the users.
LOL at all the know-it-betters, who is telling you PI is a scam. Here is my answer.
Before the bitcoin hype in 2020, we were collecting free coins left and right. Some of these coins became famous and you guys were buying our bags.
2020 Free RaiBlocks(Nano) $0.007 to $31 in 2020.
2020 Free Stellar Lumens $0.0018 to $0.64 in 2020.
Other then with BTC it is Pi Network that controls your account. They can delete it at their sole discretion. Actually your account is at risk right now because they have to deal with lots of fake account which need to be deleted. It can be any account, also yours.
Thanks for sharing such valuable information Joe. But what about the whole earning part of Pi? Are we just going to keep mining all day or is something actually going to happen?
John, I suggest you to read the FAQ and the project’s white paper. Everything you need to know is covered there.
And my advice to all Pioneers: Verify your account with your phone number, not only with FB, and make sure to have enough real people pointing at you via security circles. This way you run less risk that your account will be wrongly deleted.
Nothing to lose here but everything to gain. Google and FB already have data tracking on you. I bet many wish they had a thousand bitcoin when they started and were easy to mine. Worth pennies back then. Now look at the price. Nothing ventured nothing gained I say. Crypto is the future. Bankers hate it. They have lots of money to pay bloggers and advertisers to try and quell it. Not going to happen. The people in mass are seeing the light.
Have a good life everyone!
I’m sure that’s the way a lot of people feel Mike but what kind of current benefits/earnings have you experienced as a member? have you paid any money? Recruiting? Can you give us some insight on what you have gained or why you feel that this is probably the best things since sliced bread.
how to spend it?
I think is an interesting project, at early stage, but we´ll see in phase 2 (testnet) and phase 3 (mainnet) where it is going. For now I´m mining and having some “pi” just in case. The idea is really funny and interesting, to have more and more people knowing the blockchain concept. And the blockchain will be a fork of Stellar, one of the 10 more valuables cryptos, so…let´s see!
I’ve been using Pi Network app for quit some time now. About a few weeks after launch and have accrued quite some members to join up and lots of Pi coins now. Though currently there is no monetary value of the coin but I see it has potential along with many other uses for the coin. When peer to peer exchange comes out and their marketplace opens, I think then it will have a lot of value. But currently as the trend of the coin continue to rise up with new users everyday, you can take advantage of their chat system to promote other things to your earning team.
Join Pi Network, minepi.com/cleoarc, and start your new potential moneymaking journey (like Bitcoin started from $0 in 2008). 1st cryptocurrency you can mine from your smartphone. No investment to join.
has anyone found any answers as to what type of data they’re extracting from users? (aside from name/phone number for install)
Pi was not the first mobile mining. I’m pretty tired of people throwing this around. People need to do their homework as Electroneum (ETN) have been doing this since late 2020. Everything this is doing has already been done by ETN.
Elecronium has been on since 2007? And yet even a thousand eleactronium tokens is not worth up to $10 that’s pathetic.
Does Mine “pi” means Personal Information?
Already joined but still worried about security stuff.
Who knows where it will take us, you never know. Maybe you kicking yourself otherwise.
As pi network is still in beta you need an invitation.
ETN does not have a real mobile miner.
For me – at this moment – it does just look like some sort of profiling App that collects User data and could possibly sell them to other companies. ? That’s it, they make some money and you get nothing. They want you to use your real names, constantly check back, so they can mark your account as active for possible interests of the database and in the best case they got your E-Mail, telephone number and If you were dumb enough the password you are using on multiple Apps and Accounts so buyers gain access to many of your stuff.
Be careful and stay safe… I’m trying it out right now but I do see many harm that could hit lots of Users if they are not carefully. So this should always be in your mind participating stuff like this.
Pi can be downloaded here: https://www.minepi.com/phone
Be sure to use the invite code “phone” as it’s still in beta.
As the world becomes increasingly digital, cryptocurrency is a next natural step in the evolution of money. Pi is the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.
Our Mission: Build a cryptocurrency and smart contracts platform secured and operated by everyday people.
Our Vision: Build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency
DISCLAIMER for more advanced readers: Because Pi’s mission is to be inclusive as possible, we’re going to take this opportunity to introduce our blockchain newbies to the rabbit hole Smiley
Roadmap / Deployment plan
Phase 1 – Design, Distribution, Trust Graph Bootstrap.
The Pi server is operating as a faucet emulating the behavior of the decentralized system as it will function once its live. During this phase improvements in the user experience and behavior are possible and relatively easy to make compared to the stable phase of the main net. All minting of coins to users will be migrated to the live net once it launches. In other words, the livenet will pre-mint in its genesis block all account holder balances generated during Phase 1, and continue operating just like the current system but fully decentralized. Pi is not listed on exchanges during this phase and it is impossible to “buy” Pi with any other currency.
Phase 2 – Testnet
Before we launch the main net, the Node software will be deployed on a test net. The test net will use the same exact trust graph as the main net but on a testing Pi coin. Pi core team will host several nodes on the test net, but will encourage more Pioneers to start their own nodes on the testnet. In fact, in order for any node to join the main net, they are advised to begin on the testnet. The test net will be run in parallel to the Pi emulator in phase one, and periodically, e.g. daily, the results from both systems will be compared to catch the gaps and misses of the test net, which will allow Pi developers to propose and implement fixes. After a thorough concurrent run of both systems, testnet will reach a state where its results consistently match the emulator’s. At that time when the community feels its ready, Pi will migrate to the next phase.
Phase 3 – Mainnet
When the community feels the software is ready for production, and it has been thoroughly tested on the testnet, the official mainnet of the Pi network will be launched. An important detail is that, in the transition into the mainnet, only accounts validated to belong to distinct real individuals will be honored. After this point, the faucet and Pi network emulator of Phase 1 will be shut down and the system will continue on its own forever. Future updates to the protocol will be contributed by the Pi developer community and Pi’s core team, and will be proposed by the committee. Their implementation and deployment will depend on nodes updating the mining software just like any other blockchains. No central authority will be controlling the currency and it will be fully decentralized. Balances of fake users or duplicate users will be discarded. This is the phase when Pi can be connected to exchanges and be exchanged for other currencies.
Pi – Token Supply
Token Emission Policy
Total Max Supply = M + R + D
M = total mining rewards
R = total referral rewards
D = total developer rewards
M = ? f(P) dx where f is a logarithmically declining function
P = Population number (e.g., 1st person to join, 2nd person to join, etc.)
R = r * M
r = referral rate (50% total or 25% for both referrer and referee)
D = t * (M + R)
t = developer reward rate (25%)
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BetOnline Live Betting
The live betting category is an extension of the online sportsbook. The difference between the two is that the sportsbook displays upcoming games, while the live betting category displays current matchups around the world. All the viable information needed to make an educated wager is shown on each sporting event. BetOnline odds for live betting are one of the highest in the online gambling industry.
This information includes the run line, money line, under, overs, game-winners and much more. Additional info can be revealed by clicking on the live event itself. It’s recommended that newly inducted players at BetOnline stick with the standard sportsbook to learn how to make accurate sporting wagers on this site.
BetOnline provides multiple exceptional betting platforms to its player base, but none it quite as extensive as the online casino. This online casino is comprised of video slots, classic slots, progressives , card games like poker, table games like blackjack and specialty games like Bingo . Additionally, there’s a fully-featured live casino that offers numerous versions of roulette, blackjack, baccarat and super six.
The casino games are developed with realistic graphics, enabling an experience that is always exciting. The live dealers are the main attraction of the casino though, as their typically hosted by an attractive female or male dealer. These dealers are trained extensively to provide accurate dealing for their own game. Collectively, the BetOnline Casino offers memorable gameplay that keeps players coming back for more. Additionally, all of these games are enabled for mobile betting , including the live dealer games. This is something most multiservice casinos don’t offer to players and what separates BetOnline from its competition.
Mobile betting has grown to become as popular as online betting , which prompted BetOnline to create a mobile version of their multiservice casino a few years ago. Since the iteration of BetOnline Mobile, millions of punters have played with the portable casino. The experiences are nearly identical, providing the same core gaming experience. There’s only a small group of games that aren’t enabled for mobile play with BetOnline.
These mobile games are available through iOS and Android phones or tablets, through a mobile browser or application. Both options are convenient, with the app taking only a minute to install onto devices. Regardless of which version is accessed, the same navigational layout and casino-wide design are implemented. This allows for players to transfer between the instant-play and mobile rendition of BetOnline quickly. The critical reason to why playing with BetOnline mobile is better than playing with its instant-play counterpart is because players have touch-screen support. This enables an entirely different level of versatility to betting sessions. Additionally, the same protocols mentioned above are programmed into the mobile application and mobile site. Experiences won’t be any less safe, but instead more secure.
BetOnline Payment Services
BetOnline isn’t playable until interested players register an account and make their first deposit. Ad advanced network of payment services is comprised at this casino, all of which are known for their reliability and performance. Cashing out is a prolonged experience, with an immediate two to five pending period enacted.
Afterwards, a withdraw processing period begins, which changes depending on the service selected. EWallet’s take 24 to 48 hours to process any withdraw, while bank transfers take upwards of ten business days. BetOnline cash out with a direct check will pump processing periods to a full month. When choosing to interact with the banking service, the capability to withdraw $15,000.00 per transaction becomes enabled. We recommend you to use BetOnline bitcoin withdrawal option.
Selecting an eWallet drops that valuation down to $8,000.00 and cheques lower it significantly to $2,500.00. The only viable currency for depositing and withdrawing is the United States Dollar or Canadian Dollar, with every payment being processed through the Commission BZ Affiliate Program. The available payment services include Skrill, Neteller, P2P, Direct Cheque, Bank Wire Transfers, Money Orders, Visa, BetOnline Prepaid Cards and UseMyWallet.
BetOnline Reputation and History
BetOnline Casino , BetOnline Sports, and BetOnline Poker has over 10 years’ experience in the online industry. The site was created and launched by current owner Ilion Ltd Casinos in 2004, but as a company, they have been in the industry since 1991 to provide professional sports betting options.
Once their website had launched, additional casino features such as the gaming platform from Betsoft and their Poker network were added.
A few years later, BetOnline USA added additional features to enhance the value they offer including financials so that us customers can purchase stocks, trade currencies, and other aspects relating to financials at the US market.
Today, the site delivers one of the most impressive betting platforms that is designed to cover virtually every possible betting opportunity desired. The site is up to date, mobile-friendly, and provides easy to use features.
As a betting site, it has managed to gain an excellent reputation among its members for multiple reasons. Many enjoy their fast, easy, and highly secure banking options, while others have pointed out how easy and professional the betting options are.
The poker network provides an excellent variety of players and playing levels, and this affords the opportunity to access and multiple tables and participate in a large variety of tournaments.
Mobile Casino, Live Casino, and Available Games
The mobile casino offered by BetOnline provides most of the same features as its online counterpart. The only gaming platform that cannot be accessed via mobile is the poker network.
However, all promotions, casino games , sports betting, horse racing, and others can be accessed via devices such as Android and iOS.
Making deposits and withdrawals via the mobile site is actually easier and more secure due to the increased security systems that are in place with smartphones. Mobile deposits include the same selection of promotions as offered on the main site.
BetOnline Customer Support
Typically, newly registered players have questions regarding the internal operations of the casino, their promotional offerings, and in-house features. Sports bettors can acquire this information through a series of sub-pages, which included the frequently asked questions and their corresponding answers. Sometimes these sub-pages don’t provide enough insight into the casino, which is why BetOnline maintains a fully functional support customer service.
The support agents available are trained extensively to assist sports bettors with any questions or problems they have relating to the casino. These agents are polite and provide quality customer support experience. The support agents can be contacted through live chat, an email, and two toll-free phone numbers. Players speaking Chinese, English, German, Italian, Korean, Japanese, Indonesian, Spanish, Portuguese, Russian, Turkish, French or Greek can receive customer service in their native-speaking language 24/7 every day of the year.
Is BetOnline Legit?
BetOnline is a professional gambling site that has been licensed by the government of Panama. Their games and services are randomly tested for fairness by TST, a highly-respected audit company within the online casino industry. All casino accounts, banking details, and account details are secured and encrypted to ensure that no third party may have access to this information. The purpose is to allow players to focus on enjoyment allowing players to enjoy versus concern themselves with details relating to their accounts.
Video Review of BetOnline.ag
Why Play at BetOnline?
There are many reasons to join BetOnline. One of the most obvious is that they are well-established and have created a respected name for themselves. The site has an excellent list of benefits and betting options, and is focused towards being a one-stop gaming site .
However, with BetOnline, it is the additional features such as their financials, that make it unique and valuable, and gives the impression that one only needs to play at BetOnline versus multiply gambling sites.
BetOnline is one of the best multiservice online casinos available to players located worldwide. It doesn’t matter if your Canadian, American, Asian or European, there is a fantastic experience waiting for you. The games available provide gameplay that’s mesmerizing and that support features help to guarantee every spinning session is enjoyable. When you account these factors in with the defence protocols enabled, promotions that can be acquired, the VIP Loyalty Points service and the numerous platforms available, you can’t help but be drawn to BetOnline. Instead, you want to play on your desktop, laptop, tablet or phone; an entertaining experience is provided.
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