The Pi network is a digital currency initiative that intends to make cryptocurrency mining
accessible as the centralization of first generation currencies, such as Bitcoin has
put them out of reach of ordinary people.
The Pi network created by a group of Stanford.
Alumni allows users to mind currencies using a mobile phone app while confirming transactions
on tributed ledger to put it simply earning money with Pi network is as simple as ABC
disclaimer, I'm not a financial advisor.
The video is for informational and educational purposes only.
Hey everyone, welcome to crypto trends.
And today video, we'll talk about Pi network and how you can make money with Pi network.
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What is Pi network?
Pi network is a cryptocurrency network that claims to have been launched on March 14th,
2019 in Pi network.
Like most cryptocurrencies was founded with the goal of decentralizing money and making
financial applications more accessible to a wider audience.
But what's so special about the crypto.
It is unique in that it was created to be mined on a smartphone.
Anyone with a smartphone and an internet connection can join in the networks activities.
The Pi network app is available for download in the Google play and apple app stores.
A referral system is used to build the network.
Mining sessions cannot be finished unless a user successfully refers a new member.
Even more intriguing is the fact that as of late November, 2021, the Pi network has 29
million users out is at work Pi, mining.
Isn't exactly crypto mining.
There isn't any proof of work involved as there is with Bitcoin mining.
This component of the Pi crypto network will be confusing to anyone who is studied Bitcoin
and blockchain technology.
To say the least users can mind Pi by logging into the app, clicking the mine button and
receiving E keep in mind that there is no Pi network to speak of.
And the Pi coin cannot be traded on any exchange mining on the Pi network.
Isn't the same as mining.
This begs the question, what exactly is going on here?
Anyone it appears could design an app like this to make it appear as if a new cryptocurrency
is being launched with no pro roof of the regular work being done.
Pis, the elements that make a cryptocurrency, a cryptocurrency such as a blockchain network
and a tradeable token security circle in Pi network Pi does not use a proof of work or
proof of steak consensus process like Bitcoin or Cardon.
Instead, the Pi network says that it secures it distributed ledger by allowing users to
vouch for one another's reliability.
In the context of the Pi network, a security circle is a group of three to five users who
trust one another, not to perform fraudulent transactions.
It's unclear how this trust is built, what it signifies or what will happen.
If that trust is broken, how to earn money on Pi network Pi network can be used to earn
money in a variety of ways.
According to the platform.
Number one, Pi network, mining making money on the Pi network is pretty simple.
All you have to do is create a network account to collect your Pi tokens.
You must access the Pi network app on a daily basis, you will receive 0.10 Pi per hour for
a total of two to three Pi tokens per day.
Number two, become a contributor by adding people to a security circle.
You can become a contributor on Pi network.
You can add people to your security circle after completing three earning sessions, this
will also help you earn more Pi tokens.
Number three, invite friends.
You can invite your friends to the Pi network.
You are free to invite as many people as you want.
It allows you to acquire Pi tokens more quickly.
The more Pi network friends you invite, the more token you'll receive per day is the Pi
network.
A scam because no one has yet invested in Pi.
Determining if it is a scam is difficult.
If this is a crypto scam, it's unlike any I've seen before.
Over the years, there have been several ICO, scams, cloud mining, scams, defy rug pulls
and hacks and countless other cryptocurrency for frauds.
And this may be one of the most distinctive of them.
There is no question that the Pi network is now useless and a waste of time and all in
all.
I prepared this movie to provide you a basic understanding of cryptocurrency.
What are your thoughts about Pi network?
Is it a scam or not?
Let us know your thoughts in the comment section down below with that being said, here we come
to the end of our video.
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See you in the next video till then take care.
Thanks for watching.