One of the projects that has been gaining a lot of attention recently is the Pi network.
A network that has given the power to ordinary people like you and me to mine crypto coins through our mobile phones.
As pi becomes more popular day after day, there is a large amount of people who believe that the whole pi network attempt is a complete scam.
On the other hand, a lot of people blindly follow and support the pi network, hoping that this is the next big thing.
In this post we will take an objective look at both claims and then everybody will be free to decide the million dollar question;
“Is pi network scam?”
If you want to just read my own personal opinion just skip the text and go to the last section of the post called “Finally is PI Network Scam?”.
Pi Network supporters
Pi doesn’t ask you any money or personal informations
From a monetary point of view pi is completely safe.
And this is because nobody asks you for any money during the whole process, from downloading the app to everyday interaction.
Of course the same applies in the personal information part, since pi network doesn’t ask that kind of stuff in any case.
The mining process involves no risk
The users involved in the mining process take no risk whatsoever.
That means that when you participate in the mining process, you have nothing to lose.
The only necessary thing is to open the app every 24 hours and confirm that you are not a robot.
So, there is nothing that you can actually lose, not even your time since it demands almost no time at all.
The network creators are academics who can’t afford be involved in a scam
There is a high level of credibility in the creators’ profiles.
Every one of the 3 front faces of the pi network have an amazing academic background.
In addition to this, their skills and achievements indicate the bright future they are going to have, each one in his own expertise.
So if you were in their position, would you risk the academic fame you obtained until today, only to participate in a scam that might destroy your entire career?
I don’t think so.
Yes the app has ads but you can disable them at any time
There is no more to say here.
Even if the pi creators decided to make some extra money during the second phase of the project, it’s in your hand to avoid that at any time by just disabling the ads.
The source code of the network is open
This argument means that everybody who is programming literate can take a look at the exact way the pi network really works.
So if there was a catch in the system, it will be revealed until now.
Also, everybody can participate in the coding process, through updates, a fact that indicates the open and clean character of the project.
Pi Network doubters
Users supporting the network without getting any value back (at least for now)
Currently users do not get any real value by supporting the whole mining process.
The only benefit they earn comes from the psychological side of view, since they are promised to get future results if they continue the mining process.
In addition to that, users might not give any money for the app but many of them spend a lot of time searching for new users.
Credentialism
A very interesting argument coming from pi network doubters is the fact that the creators are “Stanford PhDs” is mentioned all the time.
As a result everybody points out the credibility of the creators and not the product itself.
Which is by the way a very common scam technique.
The app has a lot of ads
Doubters also believe that since the platform became so popular the creators use it to earn money from users by putting tons of ads on it.
Of course this doesn’t really prove that pi network is a scam, since there is nothing wrong from the creators side to earn some more money by just putting ads in their application.
Some of the practices used by pi are very similar with practices used to scams
I am referring to the classic illegal technique called the pyramid scheme.
The pi network users benefit when they attract and recruit new users just like the old fashioned pyramid scam.
Of course at this point it is worth mentioning that the pi network operates that way but never asks from users for any money.
So the technique is the same but it seems that the newer users are safe from losing their money.
Finally is PI Network Scam?
All the above are the best arguments I found by each side.
Now everyone is free to have his own opinion and believe whatever he/she thinks is the truth.
From my point of view, I believe that the pi network is not a scam.
It is an interesting project that has set the bar very high before even launching its own coin or token.
Although my opinion is that it is not a scam, I strongly believe pi enthusiasm will fade away very soon after the creators decide to launch it.
Also I believe that its price will rise for a while after the launch, but later it will dip heavily and will remain at very low levels.
Of course this is my opinion and everyone is free to express his own in the comments section.
And remember that before investing in anything, educate yourself first.
