Pi Network (PI)
On September 09, 2019 16:34:48 tingker said:
Pi Network caught my eye because it was being shilled quite a bit around my crypto groups that I'm in. I thought it was some other shady referral program/scam at first because of the sheer amount of spam. But after watching this video https://www.youtube.com/watch?v=R6zfpjyEt00 and doing some of my own research, I realized that it's not an explicit scam.
Instead it's a community-focused project that generates most of it's value from its network of loyal participants. They also utilize simulated "mining" much like Electroneum does.
What I don't like is the lack of deep info about all of their teammates (including some of their founders). How they use a lot of misleading advertising about "mining on your phone" and being the "first" to utilize that.
Furthermore they have a grand vision of creating a lot of marketplaces and also a robust Dapps platform but right now they don't have much to show, that would make me confident that they can accomplish their ambitious goal. Right now it's just simulated balance for their Pi coin in a database -- not even decentralized nor tradable/usable yet.
I personally think there isn't much of a point to this project and for that reason I would personally stay away. Though since they didn't do an ICO and people are just participating for "fun" and for the "free coins" I won't dock them too hard in my review.