Pi app I've just made another blog about the bee network, which is a very similar idea it actually came after the app the b network came after but the network is actually growing at a far faster rate than the pi network so go and check out this video if you're without wasting any more of your time let go just a little disclaimer I'm not a shill for pie network I'm also not a shield.
for the Pi network a shill is basically someone who pretends to be a customer, but in actuality they're just someone marketing the product in order to start these apps because they are basically multi-level marketing companies you need to be referred by someone else my referral code for the pie network will be in the description for this you don't have to use it I don't mind you can use some on else's in the comment section or maybe this video is going to deter you
from actually downloading yet remember it's completely your choice and you have to make the decision yourself as to whether or not you want an app like this on your phone so that's what we're going to attempt to make adecision nowthe last couple of days i've been researching as much as i can into the pi network and into other forms of mobile cryptocurrency mining trying to get a full understanding of what it is exactly that everyone's going crazy about so first of all what exactly is the pie network in their own words is a secure immutable non-counterfeitable digital currency in the same idea as bitcoin you've got pounds you've got dollars and now you have digital currencies like bitcoin and ethereum and possibly pi but one thing to note it's not currently a digital currency that you can buy or sell for real fear money they're in phase one which is just basically building out the network we're gonna go into that in more depth later on in this video so it works on mobile phones and it doesn't drain your battery how is that even possible
basically what that means is instead of actually mining the cryptocurrencies much like you mine bitcoin a bitcoin miner is simply just completing really high level equations when they complete that they are rewarded with a certain amount of bitcoin unlike that pi network is actually not mining at all on your phone you're simply just logging into their app pressing a button and that's it you're basically verifying that you're not a robot and that you're a committed member of the pi network society is essentially it it sounds a bit confusing and don't worrying confused too
it's got an easy to use security at scale without the massive electric wave what they're saying is it's good for the environment because there aren't huge bitcoin mining machines as you know in order to actually mine any amount of bitcoin at this stage that's actually going to make you any
the money you need these huge farms and pie unlike bitcoin you can mine directly on your phone but remember you're not actually mining anything they're just giving you an incentive to log into the app and press the button now does that open up a few questions for me it certainly does and hopefully we're going to answer them now if there's no monetary investment how exactly do we use the pie network to make us any real money the short answer is currently you don't make any money from the pi network in actuality it's very one-sided you're downloading the pi app onto your phone you're giving the app access to various parts of your phone's data we're talking contacts apps that you use and different information about yourself in exchange for a currency that isn't actually worth any money at this stage
do I think that this is a scam well it's kind of up to you guys to decide that do you think that being rewarded the possibility of a currency being worth money in the future is a viable exchange for your data or is that a scam in your eyes
that's the question you have to answer yourself for me i've got both pi and b on my phone currently I see them as very similar to something like Facebook has access to our phone's data they sell that data third-party advertiser and they make money using our data if you have a background into social media marketing like it's very obvious that our data is being sold on so many different levels
currently, you have the option to opt-out of ads but as they say that the ads are actually paying for them to build out their infrastructure if the pi network is a legitimate.
a company that does actually want to bring a cryptocurrency
to market then.these ads could be helping pave the way for that and if that's something that you want to be involved in then maybe you should consider it I myself have downloaded the app because again I don't really mind if they use my data
because I have a phone and I feel like pretty much all of the apps that we have on our phone are doing the same thing
but again that's something you're gonna have to answer yourself I can't answer that for you as of right now the pie
network's coin has no value it's simply what you're perceived
value of it is the third phase they plan on putting the pi network coins onto exchanges so you can actually exchange it for real money this could potentially be where we make a lot of money but there is just simply no way of knowing if they'll ever reach that point and b, if they do reach that point, will the pi currency be worth anything right now it's completely up in the air and it's essentially the perceived value of what you think that coin is worth there's a lot of people commenting that things like the Pi network and pi network are Ponzi and pyramid scams well at the end of the day its multi-level marketing in order to grow your own network and make more pie coins you need to invite more people into the app so yes it is multi-level marketing is it a scam if you decide that that pi coin is actually worth something to you and you believe in the future of the pie
the network then sure it's a give and takes there's definitely
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